September 28, 2018 / 5:17 AM / 2 months ago

German stocks - Factors to watch on Sept. 28

BERLIN, Sept 28 (Reuters) - The following are some of the factors that may move German stocks on Friday:

AUTOS

German government and automotive industry representatives are expected to discuss whether hardware retrofits are needed to reduce pollution from older diesel vehicles.

German daily Frankfurter Allgemeine Zeitung reported on Friday that a solution could involve a scheme under which carmakers would give owners of cars affected by driving bans vouchers for hardware retrofits by suppliers such as Baumot or HJS.

Volkswagen, BMW and Daimler AG-owned Mercedes-Benz have halted sales of some of their plug-in hybrid cars in Europe in the wake of new emissions regulations, Automotive News reported on Thursday.

Separately, Volkswagen’s supervisory board is due to meet and is expected to discuss the future of Audi’s suspended Chief Executive Rupert Stadler.

BASF

The chemical maker agreed detailed terms with LetterOne of their planned oil and gas joint venture, combining BASF’s Wintershall division with LetterOne’s DEA. BASF will initially own a 67 percent stake, which will later rise to 72.7 percent.

BASF also said that, excluding the oil and gas business, it was expecting a slight decline in EBIT before special items compared to the adjusted 2017 figure of 7.6 billion euros.

LANXESS

Lanxess halted the planned sale of its water chemicals unit because it could not get the price it asked for, Frankfurter Allgemeine Zeitung cited sources familiar with the matter as saying.

HOCHTIEF

Australian subsidiary CIMIC said its unit CPB Contractors was awarded a $1 billion metro tunnel works contract.

BORUSSIA DORTMUND

Annual report due. The company reported preliminary full-year figures on Aug. 24, with net profit more than tripling to 28.5 million euros.

ANNUAL GENERAL MEETINGS

HELLA - 1.05 eur/shr dividend proposed

OVERSEAS STOCK MARKETS

Dow Jones +0.2 pct, S&P 500 +0.3 pct, Nasdaq +0.7 pct at close.

Nikkei +1.3 pct, Shanghai stocks +0.9 pct.

Time: 5.15 GMT.

GERMAN ECONOMIC DATA

German September jobless data due at 0755 GMT. Seasonally adjusted unemployment rate seen flat at 5.2 pct.

DIARIES

REUTERS TOP NEWS ($1 = 0.8542 euros) (Reporting by Berlin Speed Desk)

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