German stocks - Factors to watch on June 11
11/06/2018 06:22
FRANKFURT, June 11 (Reuters) - The following are some of the
factors that may move German stocks on Monday:
BAYER BAYGn.DE
Wirtschaftswoche reported on Sunday that a U.S. court case
against seed maker Monsanto, just acquired by Bayer, over
alleged cancer risks from its Roundup herbicide that contains
glyphosate will start on Jun 18. The case is brought by an
individual but several thousand other consumers have also
submitted complaints.
The head of Bayer's crop science division, Liam Condon, said
in an interview with Frankfurter Allgemeine Sonntagszeitung
(FAS) that he expects the U.S. courts should affirm the weed
killer's harmlessness, provided it is used correctly.
BMW BMWG.DE
Procurement chief Markus Duesmann told Automobilwoche at the
weekend the company is preparing for negative consequences from
punitive U.S. tariffs and Brexit. For example, the Spartanburg
plant in South Caroline could build limousines instead of X
vehicles, which would be "challenging, but do-able." A Brexit
task force was establishing how to deal with potential supply
chain hiccups.
COMMERZBANK CBKG.DE
U.S. buyout fund Cerberus holds more than 5 but less than 10
in Germany's second-largest listed lender, Sueddeutsche Zeitung
reported.
DAIMLER DAIGn.DE
Daimler CEO Dieter Zetsche is due to have a follow-up
meeting with German Transport Minister Andreas Scheuer on Monday
regarding diesel emissions. Scheuer rejected plans by the
environment ministry for planning tougher emissions rules for
cars. urn:newsml:reuters.com:*:nL5N1T82LN urn:newsml:reuters.com:*:nL5N1TB0B6
Germany's road vehicle authority KBA has found five "illegal
switch-off devices" in Daimler car engines, Bild am Sonntag
(BamS) reported on Sunday. urn:newsml:reuters.com:*:nL5N1TB0SG
The 2.5 million rate of software updates of German cars lags
far behind 5.3 million promised by the industry for 2018, Bild
reports on Monday, citing Liberal MP Oliver Luksic, who received
the figures in a government response to a parliamentary
question.
DEUTSCHE POST DPWGn.DE
Unions fear job losses because of the company's "exorbitant"
2020 profit targets after management on Friday set out plans to
restructure the post and parcel division and cut its 2018 EBIT
target to cope with rising costs.
LUFTHANSA LHAG.DE
Monthly traffic figures for May due at 1100 GMT.
SIEMENS SIEGn.DE
The European Commission said late on Friday it would decide
by July 13 whether to grant antitrust approval of the planned
merger of the rail businesses of Siemens and French rival Alstom
ALSO.PA . urn:newsml:reuters.com:*:nL5N1TA4JM
THYSSENKRUPP TKAG.DE
Thyssenkrupp has considered a sale of its shipbuilding unit
Marine Systems in the past, the subsidiary's management said in
a internal note to staff obtained by Reuters on Friday.
urn:newsml:reuters.com:*:nL5N1TA4AE
Separately, activist U.S. hedge fund Elliott has repeated
criticism of Thyssenkrupp's plans for its joint venture with
rival Tata Steel, Frankfurter Allgemeine Zeitung reported.
UNIPER UN01.DE
Uniper on Friday denied a media report that had said the
energy group was delaying writedowns on its troubled Datteln 4
power plant to extract a higher takeover price from Finland's
Fortum FORTUM.HE . urn:newsml:reuters.com:*:nL5N1TA2CG
VOLKSWAGEN VOWG_p.DE
Volkswagen said production of up to 250,000 cars from its
group brands in the second half will be delayed because of
effects from new mandatory lab tests for emissions and fuel
economy. urn:newsml:reuters.com:*:nL5N1TA32T
Separately, its sport car maker Porsche will name its first
all-electric car model the Taycan, it unveiled a year before it
plans to launch serial production of a vehicle that will compete
with Tesla's TSLA.O Model S. urn:newsml:reuters.com:*:nL5N1TA51X
DIALOG SEMICONDUCTOR DLGS.DE
Dialog Semiconductor is in early talks to merge with U.S.
touch-pad technology company Synaptics Inc SYNA.O , Bloomberg
reported on Friday, citing people familiar with the matter.
urn:newsml:reuters.com:*:nL5N1TA4ZB
TELEFONICA DEUTSCHLAND O2Dn.DE
Telefonica TEF.MC Chief Executive Alvarez-Pallete told
Handelsblatt that he is neither planning to sell its German unit
nor planning to divest shares of the unit or look for a partner.
EPIGENOMICS ECXN.DE
The biotech company is to issue a press release on Monday
about rates set in the United States for its cancer screening
tests, it said in an ad hoc on Saturday.
STEICO ST5G.DE
The maker of environment-friendly building insulation
foresees "dynamic growth" to continue in coming quarters,
managing director Udo Schramek said in Euro am Sonntag interview
on June 10, citing demand for wood fibre materials.
DEUTSCHE BAHN DBN.UL
Germany's railway operator does not rule out accepting
private investment in its logistics unit Schenker and British
subsidiary Arriva after it shelved plans for a partial listing
of the two in November 2016 in the wake of Britain's decision to
exit the European Union, CEO Richard Lutz told FAS. Jan-April
passenger numbers grew 3 percent and sales 7
percent. urn:newsml:reuters.com:*:nL5N1TB0KS
AUTOS
The head of car industry association, Bernhard Mattes, told
Sueddeutsche Zeitung's Monday edition he was "very concerned"
about the G7 summit disarray in which U.S. president Trump
threatened punitive tariffs and protectionism. This could hurt
German carmakers. However, Mattes said that U.S. consumers did
not choose cars by price but also by quality which gave him
hope.
ECB
European Union member states will soon decide on a backstop
for the European Union bank rescue fund, the chairwoman of the
Single Resolution Board (SRB) Elke Koenig said in the
Frankfurter Allgemeine Zeitung's (FAZ) Monday
edition. urn:newsml:reuters.com:*:nL8N1TC0QH
IPOs
Stuttgart-based engineering and project management group M+W
is looking into stock listing possibilities, chief executive
Wolfgang Buechele, formerly Linde chief, said in an interview
with FAS. The company which delivers plants to the chemical,
pharmaceuticals, and semi-conductor industries as well as data
centres, says it had core sales of 2.5 billion euros in 2017.
"We are assessing further strategic options," said Buechele.
ANALYSTS' VIEWS
DEUTSCHE POST DPWGn.DE : BARCLAYS CUTS TARGET PRICE TO EUR 40
FROM EUR 45
SAP SAPG.DE : COWEN AND COMPANY RAISES TARGET PRICE TO $118
FROM $114
DEUTSCHE BOERSE DB1Gn.DE : MORGAN STANLEY RAISES PRICE TARGET
TO EUR 105 FROM EUR 103.35
DEUTSCHE BOERSE: MORGAN STANLEY CUTS TO UNDERWEIGHT FROM
EQUAL-WEIGH
OVERSEAS STOCK MARKETS
Dow Jones .DJI +0.3 pct, S&P 500 .SPX +0.3 pct, Nasdaq
.IXIC +0.1 pct at close. .N
Nikkei .N225 +0.6 pct, Shanghai stocks .SSEC -0.4 pct.
Time: 5.19 GMT. .T .SS
GERMAN ECONOMIC DATA
No economic data scheduled.
EUROPEAN FACTORS TO WATCH WATCH/EU
DIARIES DE/DIA WEU/EQUITY
REUTERS TOP NEWS TOP/NEWS
(Reporting by Maria Sheahan, Vera Eckert and Arno Schuetze)
((maria.sheahan@thomsonreuters.com; +49 69 7565 1286; Reuters
Messaging: maria.sheahan.thomsonreuters.com@reuters.net))