October 9, 2018 / 4:50 AM / 2 months ago

German stocks - Factors to watch on Oct. 9

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

AUTOS

An administrative court in Berlin opens hearings in a case brought by an environmental organisation seeking bans of diesel cars from some areas in the German capital.

Separately, EU environment ministers will seek a compromise on Tuesday over how tough to be on curbing carbon dioxide emissions from cars and vans, with Germany warning too tough targets could harm industry and cost jobs.

VW is close to hiring Citigroup, Deutsche Bank , Goldman Sachs and JP Morgan to help with the potential stock market listing of its truck unit Traton, two people familiar with the matter told Reuters.

Also, VW’s Brazil operation is putting workers on a 20-day furlough, the company said on Monday, citing reduced demand from Argentina, which is undergoing an economic crisis that has derailed growth and slashed spending power.

WIRECARD

Strategy presentation due in London.

CECONOMY

Europe’s biggest consumer electronics retailer said operating profit for the 2017-18 fiscal year came in below its targets, citing weak business at its MediaMarkt and Saturn store chains.

IPO

Shares in online furniture seller Westwing start trading in Frankfurt. The issue price has been set at 26 euros, with expected gross proceeds of up to 132 million euros.

The price guidance range for the planned IPO of German brake systems maker Knorr-Bremse was narrowed to 78 to 80 euros per share, from 72 to 87 euros previously, offer documents seen by Reuters showed late on Monday.

OVERSEAS STOCK MARKETS

Dow Jones +0.2 pct, S&P 500 unchanged, Nasdaq -0.7 pct at close.

Nikkei -1.3 pct, Shanghai stocks +0.5 pct.

Time: 4.49 GMT.

GERMAN ECONOMIC DATA

German August trade data due at 0600 GMT. Exports are seen up 0.3 percent m/m, driving the trade surplus to 16.4 billion euros ($18.86 billion).

DIARIES

REUTERS TOP NEWS (Reporting by Berlin Speed Desk)

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