BERLIN/FRANKFURT, Sept 23 (Reuters) - The following are some of the factors that may move German stocks on Monday:
German residential property company Vonovia on Monday said it agreed with Vega Holdco, a subsidiary of investment firm Blackstone, on the acquisition of 69.3% of Swedish peer Hembla, subject to clearance by Swedish antitrust authorities.
The board of the German automaker has written to the company’s senior management urging them to make short-term savings of 4.2 billion euros after making a loss of over a billion euros in the first quarter, the Stuttgarter Nachrichten newspaper reported.
The engineering firm could be a beneficiary of Deutsche Bahn’s plans to use the 20 billion euro windfall it expects from the German government’s climate package to buy 30 new high-speed trains by 2023, an investment worth nearly a billion euros.
Australian Bio-Gene Technology said it agreed an exclusive partnership with BASF to develop its insecticide technology Flavocide for use in Stored Grain Pest control in Australia.
Deutsche Bank is planning to employ hundreds of staff and add almost 100 billion euros of assets at its wealth management unit, the Financial Times reported.
Separately, Saudi state oil company Aramco has hired UBS Group and Deutsche as bookrunners for its initial public offering, two sources familiar with the matter said, in a sign that the deal is moving ahead despite a recent attack on Saudi oil facilities.
China’s NavInfo said it had signed a framework agreement with BMW on telematics location platform project.
The combustion engine manufacture said it could no longer achieve its previous full-year forecast of at least 5% EBIT margin before exceptional items due to a major supplier's insolvency. (Full Story here)
The financial troubles of tour operator Thomas Cook, a major player on the German market, could leave leading German tour operator facing less competition in domestic and regional markets.
TELEFONICA DEUTSCHLAND: Credit Suisse raises to neutral from underperform
Dow Jones -0.6%, S&P 500 -0.5%, Nasdaq -0.8% at close.
Japanese markets closed, Shanghai stocks -1.4%.
Time: 5:35 GMT
Markit September flash PMI due at 0730 GMT. Manufacturing seen at 44.0, services at 54.3, composite at 51.5.
REUTERS TOP NEWS (Reporting by Berlin Speed Desk and Frankfurt Newsroom)