BERLIN/FRANKFURT, May 8 (Reuters) - The following are some of the factors that may move German stocks on Wednesday:
Siemens posted better-than-expected adjusted operating profit from its industrial business during its second quarter as the German industrial giant began separating and spinning off its struggling power and gas business.
Deutsche Bank said negative recommendations made by U.S. proxy advisor Institutional Shareholder Services (ISS) did not reflect the current situation of the bank and its control environment.
CEO Bill McDermott welcomed a $1.3 billion investment by activist investor Elliott, saying the U.S. hedge fund group was aligned with his goal of expanding margins by driving top-line growth.
The reinsurer upheld its guidance as profit in the first quarter came in at 633 million euros.
The company said it lifted its guidances after a strong first quarter.
Germany’s Commerzbank CBKG.DE on Wednesday posted a 54 percent drop in net profit in the first quarter, just weeks after merger talks with rival Deutsche Bank DBKGn.DE fell apart. It attributed the decline to a higher tax burden.
Q1 results due.
Fraport AG said earnings before interest, taxes, depreciation, and amortization (EBITDA) increases by 14.8 precent to 200.6 million euros ($224.73 million) in the first quarter.
Supervisory board meeting will meet on Wednesday, German daily Handelsblatt reported.
Norma Group said adjusted earnings before interest, taxes and amortization of intangible assets (EBITA) fell by 13.3 percent year-on-year in the first quarter of 2019.
German lighting company Osram OSRn.DE on Wednesday posted a 56 percent drop in adjusted earnings before interest, tax, depreciation and amortization (EBITDA) in the second quarter, saying that the market environment remained challenging.
South African retailer Steinhoff, which is also listed in Frankfurt, on Tuesday reported a $4 billion operating loss in the 2017 fiscal year, in a much-delayed earnings report revealing the impact of a $7.4 billion accounting fraud.
The bearings maker has sold its Barden factory in Plymouth, south-west England to a division of HQW Precision, securing nearly 400 jobs.
Bilfinger said it confirmed its outlook for 2019 after posting net profiut of 9 million euros for the first quarter.
Q1 results and annual general meeting due.
The company said rental income was up by 3.7 percent to 57.0 million euros in the first quarter.
Morphosys first-quarter net loss widenend to 22.7 mln euros from 19.5 mln in the year-earlier period.
Allianz SE - 9.00 eur/shr dividend proposed
Deutsche Boerse - 2.70 eur/shr dividend proposed
Hannover Re - 5.25 eur/shr dividend proposed
Bilfinger SE - 1.00 eur/shr dividend proposed
CTS Eventim - 0.62 eur/shr dividend proposed
DEUTSCHE LUFTHANSA - 0.80 eur/shr dividend
FUCHS PETROLUB - 0.95 eur/shr dividend
SILTRONIC - 5.00 eur/shr dividend
HOCHTIEF - 4.98 eur/shr dividend
TAG IMMOBILIEN - 0.75 eur/shr dividend
HAMBORNER REIT - 0.46 eur/shr dividend
Dow Jones -1.8 pct, S&P 500 -1.7 pct, Nasdaq -2 pct at close.
Nikkei -1.8 pct, Shanghai stocks -0.4 pct.
Time: 5:46 GMT.
German March industrial output due at 0600 GMT. Seen -0.5 m/m.
REUTERS TOP NEWS (Reporting by Berlin Speed Desk and Frankfurt Newsroom)