German stocks - Factors to watch on March 24

Corestate Capital Holding SA

24/03/2020 06:51

BERLIN/FRANKFURT, March 24 (Reuters) - The following are
some of the factors that may move German stocks on Tuesday:
    
    CORONAVIRUS
    The COVID-19 pandemic is accelerating, the World Health
Organization (WHO) said on Monday, with more than 300,000 cases
now recorded and infections reported from nearly every country.
 urn:newsml:reuters.com:*:nL8N2BG7WO
    The number of confirmed coronavirus cases in Germany has
risen by 4,764 within a day to reach to 27,436, the Robert Koch
Institute for infectious diseases said on Tuesday.  urn:newsml:reuters.com:*:nL8N2BH0PA
    German Economy Minister Peter Altmaier said late on Monday,
after the government announced a 750 billion euro ($810.75
billion) aid package, that he did not think the economy would
need further measures on that scale.
      
    FRAPORT  FRAG.DE 
    Frankfurt Airport operator Fraport FRAG.DE said on Tuesday
that passengers had dropped by 73.5% to 331,353 in the last week
while cargo fell by 20.4% as the world battles a coronavirus
outbreak.
    
    THYSSENKRUPP  TKAG.DE  
    The conglomerate late on Tuesday scrapped its 2019/2020
profit outlook, blaming the economic downturn triggered by the
spread of the coronavirus.  urn:newsml:reuters.com:*:nL8N2BG8AS
    
    WACKER NEUSON  WACGn.DE 
    The company said it had postponed its annual general meeting
and now aimed to hold it on July 21, 2020.  urn:newsml:reuters.com:*:nFWN2BG1R1
    
    AXEL SPRINGER 
    German publisher Axel Springer on Monday scrapped its 2020
earnings forecast, saying results would be significantly lower
due to the Coronavirus outbreak.  urn:newsml:reuters.com:*:nL8N2BG8OU
    
    NORDEX  NDXG.DE 
    German wind turbine maker Nordex NDXG.DE on Tuesday said it
expects sales and profits to rise in 2020, but cautioned it may
have to adjust the outlook should the current coronavirus crisis
cause significant disruptions.  urn:newsml:reuters.com:*:nASN0004HX
    Separately, the company said it had won a 400 megawatt
supply and maintenance contract from Norway. urn:newsml:reuters.com:*:nASN0004HY
    
    RATIONAL AG  RAAG.DE 
    Full-year results due. The company earlier this month
confirmed 2019 preliminary revenue and EBIT figures it had
already announced in February.  urn:newsml:reuters.com:*:nFWN2B30D6
    
    CORESTATE  CCAG.DE 
    The company reported full-year EBITDA of 175 million euros.
 urn:newsml:reuters.com:*:nASN0004HT
    
    BERTELSMANN  BTGGg.F 
    Annual report due
    
    RHOEN KLINIKUM  RHKG.DE 
    Rhoen-Klinikum said full-year net consolidated profit fell
to 44.5 million euros.  urn:newsml:reuters.com:*:nASN0004HU
    
    PORSCHE  VOWG_p.DE 
    Annual report due. The carmaker last week said full-year
sales rose by 11% to 28.5 billion euros in 2019.  urn:newsml:reuters.com:*:nL8N2BD2VU
    
    CANCOM  COKG.DE 
    The company said its forecast for 2020 was postponed to 28
April 2020. It said coronavirus measures and simultaneous
increased time requirements due to the first-time audit of
annual financial statements by new auditors KPMG led to a
postponement of THE publication date.  urn:newsml:reuters.com:*:nASN0004I0

    ANALYSTS' VIEWS 
    WACKER CHEMIE AG  WCHG.DE : JP MORGAN CUTS TARGET PRICE TO
EUR 50 FROM EUR 63
    LANXESS AG  LXSG.DE : JP MORGAN CUTS TARGET PRICE TO EUR 42
FROM EUR 65 
    EVONIK INDUSTRIES AG  EVKn.DE : JP MORGAN CUTS TARGET PRICE
TO EUR 21 FROM EUR 29
    COVESTRO AG  1COV.DE : JP MORGAN CUTS TO "NEUTRAL" FROM
OVERWEIGHT; CUTS TARGET PRICE TO EUR 24 FROM EUR 50
    BRENNTAG AG  BNRGn.DE : JP MORGAN CUTS TARGET PRICE TO EUR
45 FROM EUR 55 
    BASF SE  BASFn.DE : JP MORGAN CUTS TARGET PRICE TO EUR 39
FROM EUR 55
    VOLKSWAGEN AG  VOWG_p.DE : CITIGROUP CUTS PRICE TARGET TO
EUR 120 FROM EUR 195 
    HUGO BOSS AG  BOSSn.DE : JP MORGAN CUTS TARGET PRICE TO EUR
45 FROM EUR 56
    E.ON SE  EONGn.DE : CITIGROUP CUTS PRICE TARGET TO EUR 8
FROM EUR 9.8
    DAIMLER AG  DAIGn.DE : CITIGROUP CUTS PRICE TARGET TO EUR 20
FROM EUR 33
    BMW  BMWG.DE : CITIGROUP RAISES TO NEUTRAL FROM SELL; CUTS
PRICE TARGET TO EUR 45 FROM EUR 62
        
    OVERSEAS STOCK MARKETS  
    Dow Jones  .DJI  -3%, S&P 500 .SPX  -2.9%, Nasdaq  .IXIC 
-0.3% at close.  .N 
    Nikkei  .N225  +7.1%, Shanghai stocks  .SSEC  +2.1%.  .T 
 .SS 
    Time: 6:51 GMT

    
    GERMAN ECONOMIC DATA
    German March flash Markit PMI due at 0830 GMT. Manufacturing
index seen at 39.6, service index at 42.3, composite index at
40.6. 
    
    DIARIES  DE/DIARY 
    REUTERS TOP NEWS  TOP/NEWS 


($1 = 0.9251 euros)

 (Reporting by Berlin Speed Desk and Frankfurt Newsroom)
 ((frankfurt.newsroom@thomsonreuters.com; +49 30 2888 5169))