September 13, 2019 / 4:57 AM / 3 months ago

German stocks - Factors to watch on September 13

BERLIN/FRANKFURT, Sept 13 (Reuters) - The following are some of the factors that may move German stocks on Friday:


European Central Bank chief Mario Draghi pledged indefinite stimulus on Thursday to revive an ailing euro zone economy, tying the hands of his successor for years to come and sparking an immediate conflict with U.S. President Donald Trump.


The European Central Bank is giving euro zone banks a small reprieve from a penalty charge on their idle cash but this is likely to prove too little, too late for a sector hurt by years of low interest rates.


President of the VDA German auto association Bernhard Mattes will step down at the end of this year, the lobby announced on Thursday.

Separately, daily Sueddeutsche Zeitung reported that the German transport ministry has drafted a billion-euro investment scheme to boost the country’s shift towards a greener transportation, aiming for at least 7 million e-vehicles on the streets by 2030, which could include subsidies of up to 4,000 euros for buyers of electric cars worth less 30,000 euros.


Deutsche Bank will pay $15 million to resolve claims it conspired to rig prices of bonds issued by Fannie Mae FNMA.PK and Freddie Mac FMCC.PK, becoming the first of 16 financial services companies to settle litigation by investors.


Monthly traffic figures due.


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

Nikkei +1.0%, Chinese markets closed.

Time: 4:56 GMT


* August wholesale prices due at 0600 GMT.

* The leader of Chancellor Angela Merkel’s Christian Democrats has poured cold water on hopes that Berlin could soften its fiscal stance and consider taking on new debt to finance a costly climate protection package.


REUTERS TOP NEWS (Reporting by Berlin Speed Desk)

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