October 9, 2019 / 4:52 AM / 2 months ago

German stocks - Factors to watch on Oct. 9

BERLIN/FRANKFURT, Oct 9 (Reuters) - The following are some of the factors that may move German stocks on Wednesday:

CARMAKERS

Auto industry executives including Daimler CEO Ola Kaellenius discuss the sector’s transformation at conference just outside Stuttgart.

WIRECARD

German payments company Wirecard said on Tuesday that a key Middle Eastern unit had been properly audited, addressing allegations that the subsidiary had been a conduit for money flows of uncertain provenance.

TOM TAILOR

The clothing retailer said it was holding talks about the possible departure of the Chief Executive and Chief Financial Officer from the board.

DEUTSCHE BANK

European regulators are likely to reject Juerg Zeltner as a member of Deutsche Bank’s supervisory board on conflict of interest concerns, unless he steps down as chief executive of Qatari-backed European private banking group, KBL, the Financial Times reported.

ANALYSTS’ VIEWS

DWS GROUP GMBH & CO KGAA: JP Morgan raises to “overweight” from “neutral”

QIAGEN NV: Deutsche Bank cuts to “hold”

OVERSEAS STOCK MARKETS

Dow Jones -1.2%, S&P 500 -1.6%, Nasdaq -1.7% at close.

Nikkei -0.7%, Shanghai stocks -0.1%.

Time: 4:50 GMT

GERMAN ECONOMIC DATA

No major economic data scheduled.

DIARIES

REUTERS TOP NEWS (Reporting by Berlin Speed Desk and Frankfurt Newsroom)

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