FRANKFURT/BERLIN, Sept 17 (Reuters) - The following are some of the factors that may move German stocks on Monday:
Carmakers need to maker owners of older diesel-fuelled cars attractive incentives to buy new vehicles and thereby avoid being affected from driving bans, the German transport minister told Frankfurter Allgemeine Zeitung.
The luxury vehicle maker plans more deals with mining companies to secure electric vehicle battery materials, and is open to forming alliances to share the costs of developing autonomous-vehicle systems, the automaker’s research and development chief told Reuters.
Separately, BMW will recall more than 139,000 of its 3-series cars in China from Nov. 9, because of a defect in the air-conditioning system, the market regulator said.
Also, Bild am Sonntag reported that BMW will become a sponsor of soccer club Bayern Muenchen and will purchase by 2025 a stake in the club which is currently held by Audi.
Commerzbank had extended the contracts of retail head Michael Mandel and compliance head Bettina Orlopp until 2024, Handelsblatt reported.
Deutsche Bank plans to shift more assets from London to Frankfurt and to ringfence it UK unit after Brexit, the Financial Times reported.
More than 20 German CEOs including those of Deutsche Bank, Audi, Bosch, Continental and Commerzbank have called for Germany to speed up the roll-out of 5G mobile phone services to avoid its economy incurring a competitive disadvantage compared to the U.S. or China, Handelsblatt reported.
The utility and its works council said in different statements at the weekend that an end-of-life date for Germany’s coal-fired power plants between 2035 and 2038 is unacceptable.
Earlier, Ronald Pofalla, one of the heads of a commission tasked with working out a roadmap for a phase-out of the technology, had said that a such date would be an acceptable compromise, Der Spiegel reported.
Volkswagen’s supervisory board is due to meet on Monday to discuss the future of suspended Audi CEO Rupert Stadler, according to a Spiegel report from Friday.
Separately, a trial is due to continue in which investors are suing Volkswagen for compensation for the hit to the carmaker’s share price from its diesel emissions scandal, with plaintiffs holding out hopes for billions of dollars in damages.
Also, Volkswagen expects tips from whistleblowers to double in 2018 compared with 2017, and has already registered 470 hints this year, 30 of which were taken very seriously, board member Hiltrud Werner told Automobilwoche.
Australian subsidiary Cimic said its unit Thiess had won a A$420 million ($300.64 million) contract extension from Antofagasta Minerals.
The German energy group has mandated investment bank Rothschild to explore a sale of its French assets, a person with direct knowledge of the matter said, under pressure from a planned exit from coal-fired power.
The lighting maker’s CEO warned of the impact of global trade conflicts on the company’s business. “If clients of mine, such as Daimler, incur problems selling their U.S.-made cars in China, then I’ll always be affected,” he told Sueddeutsche Zeitung.
The decline of the Turkish lira has not had an economic impact on TUI and business has picked up in the country, CFO Horst Baier told Boersen-Zeitung on Saturday.
Dow Jones unchanged, S&P 500 unchanged, Nasdaq -0.1 pct at close.
Japanese markets closed, Shanghai stocks -1.1 pct.
Time: 4.45 GMT.
No economic data scheduled.
REUTERS TOP NEWS ($1 = 1.3970 Australian dollars) (Reporting by Arno Schuetze and Berlin Speed Desk)