October 10, 2019 / 4:58 AM / 14 days ago

German stocks - Factors to watch on October 10

BERLIN/FRANKFURT, Oct 10 (Reuters) - The following are some of the factors that may move German stocks on Thursday:

BASF

Moody’s downgraded BASF’s credit rating to A2 with a stable outlook.

Bloomberg reported that LafargeHolcim had decided against a bid for BASF’s construction chemicals unit.

GERRESHEIMER

Q3 results due.

SCHAEFFLER

The auto supplier plans to cut an additional 1,300 jobs, a spokesman said on Wednesday, confirming news first reported by WirtschaftsWoche.

SUEDZUCKER

Fiscal H1 results due.

UNIPER

An employee representative of utility Uniper on Wednesday criticized Fortum’s effort to gain control of the German company.

BIONTECH

German biotechnology firm BioNTech SE lowered the price range for its U.S. initial public offering (IPO) on Wednesday and said it would sell fewer shares, making it the latest company to struggle to debut in the stock market.

DEUTSCHE TELEKOM

One of 17 U.S. states that sued to block a proposed $26.5 billion tie-up of Sprint Corp and T-Mobile US Inc agreed to drop the challenge after reaching a deal with the companies. Deutsche Telekom owns 63% of T-Mobile.

ANALYSTS’ VIEWS

* K+S: Credit Suisse cuts target price to 15 euros from 17.20 euros

* Evonik Industries: Credit Suisse cuts target price to 25 euros from 28 euros

OVERSEAS STOCK MARKETS

Dow Jones +0.7%, S&P 500 +0.9%, Nasdaq +1.0% at close.

Nikkei +0.2%, Shanghai stocks +0.2%.

Time: 4:56 GMT

GERMAN ECONOMIC DATA

August trade data due at 0600 GMT. Exports seen -1.0%, imports seen -0.2% and trade surplus seen narrowing to 19.1 billion euros in seasonally-adjusted terms.

DIARIES

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

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