September 17, 2019 / 4:54 AM / a month ago

German stocks - Factors to watch on September 17

BERLIN/FRANKFURT, Sept 17 (Reuters) - The following are some of the factors that may move German stocks on Tuesday:

BECHTLE

Capital market day due.

SAP

The German-speaking user group for SAP, the business software company, holds its annual conference.

TOM TAILOR

The retailer said it was close to striking a deal with creditor banks and majority shareholder Fosun about a new loan until 2022. A bridge loan has been extended until October 2019 and Fosun has also extended a short-term loan.

VOSSLOH

Appointed Oliver Schuster as chief executive effective October 1 to replace Andreas Busemann, and said the executive board of Vossloh Group will be managed by two executive board members and concentrate on rail infrastructure.

ADO PROPERTIES

The real estate company confirmed exploratory talks about the sale of its 5,800 residential apartment units.

HOCHTIEF

Hochtief’s Australian subsidiary Cimic Group said it has won a $463 million contract to build Sydney metro station project.

ZALANDO

Sweden’s Kinnevik said it had completed the placement of 13.13 million shares in Zalando to institutional investors by way of accelerated bookbuilding with transaction gross proceeds of 558 million euros ($614.30 million), representing 5.2% of the company’s issued share capital.

OVERSEAS STOCK MARKETS

Dow Jones -0.5%, S&P 500 -0.3%, Nasdaq -0.3% at close.

Nikkei +0.1%, Shanghai stocks -1%.

Time: 4:49 GMT

GERMAN ECONOMIC DATA

ZEW September business climate due at 0900 GMT. Economic sentiment seen at -37.0, current conditions at -15.0.

DIARIES

REUTERS TOP NEWS ($1 = 0.9083 euros) (Reporting by Berlin Speed Desk and Frankfurt Newsroom)

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