October 21, 2019 / 5:17 AM / a month ago

German stocks - Factors to watch on October 21

BERLIN/FRANKFURT, Oct 21 (Reuters) - The following are some of the factors that may move German stocks on Monday:

BMW DAIMLER

BMW is keen to find additional partners for the mobility services venture it runs with rival carmaker Daimler, BMW’s new chief executive told a Sunday newspaper.

DEUTSCHE LUFTHANSA

German flight attendants’ union UFO on Sunday staged an all-day strike at Lufthansa’s smaller German divisions Germanwings, Eurowings, Lufthansa City Line and Sunexpress an escalating row over workers’ pay and pensions.

SAP

The German business software group disclosed on Monday it had reached a three-year deal with Microsoft to help its large enterprise customers move their business processes into the cloud.

WIRECARD

The company will hire an external auditor to investigate on accounting irregularities it has been accused of by “Financial Times” reports, business daily Handelsblatt reported. Wirecard has rejected the reports.

OSRAM

Austria’s AMS plans to launch a new takeover bid for German lighting group Osram at the same price but lowering the acceptance rate to 55%, to make its vision of becoming a global leader in sensors and lights come true.

AMS faces fresh opposition to its 4.5 billion euro ($5 billion) takeover bid from Osram’s powerful shop stewards.

PROSIEBENSAT.1 MEDIA

Slovak investor Patrik Tkac has disclosed a 3.6% stake in ProSiebenSat.1 Media, the German broadcaster that has for months been a focus of speculation on possible consolidation in the European television industry.

SARTORIUS

The company said it signed an agreement to acquiree assets from Danaher Life Science.

OVERSEAS STOCK MARKETS

Dow Jones -1%, S&P 500 -0.4%, Nasdaq -0.8% at close.

Nikkei +0.3%, Shanghai stocks unchanged.

Time: 5:14 GMT

GERMAN ECONOMIC DATA

German September producer prices due at 0600 GMT. Seen falling by 0.1% m/m and 0.3% y/y.

DIARIES

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

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