German stocks - Factors to watch on June 22

ZEAL Network SE

22/06/2020 05:31

BERLIN/FRANKFURT, June 22 (Reuters) - The following are some
of the factors that may move German stocks on Monday:
    
    CORONAVIRUS
    Germany's reproduction rate jumped to 2.88, health
authorities said, a rate showing infections are rising above the
level needed to contain the disease over the longer term.
 urn:newsml:reuters.com:*:nL8N2DY0I7
    Authorities in Germany's Goettingen and North Rhine
Westphalia regions have called on police to enforce quarantine
measures following a rise in local coronavirus infections and
trouble getting people to adhere to isolation rules.
 urn:newsml:reuters.com:*:nL8N2DY0IG
    Germany's economy had passed the worst of the crisis caused
by the coronavirus outbreak and was now expected to recover
gradually, Bundesbank President Jens Weidmann told Frankfurter
Allgemeine Sonntagszeitung.  urn:newsml:reuters.com:*:nL8N2DY0CO
    Germany reported 537 new coronavirus cases and three more
deaths.
    The World Health Organization reported a record increase in
global coronavirus cases, with the total rising by 183,020 in a
24-hour period.  urn:newsml:reuters.com:*:nL8N2DY0PU
    U.S. stock futures erased losses and Asian stocks held flat,
trying to shake off worries that rising coronavirus cases in the
United States could scupper a quick economic rebound from the
massive downturn triggered by the pandemic.  urn:newsml:reuters.com:*:nL4N2DZ0KK
    
    
    LUFTHANSA  LHAG.DE 
    The company will seek to avoid a grounding and insolvency,
Chief Executive Carsten Spohr said, before a showdown between
the airline's biggest shareholder and the German government over
the terms of a 9-billion-euro bailout.  urn:newsml:reuters.com:*:nL8N2DY0EU
    
    WIRECARD  WDIG.DE 
    The company said there was a likelihood that the 1.9 billion
euros ($2.1 billion) reported missing from its accounts did not
exist in the first place. It also withdrew its full-year 2019
and first-quarter 2020 financial results.  urn:newsml:reuters.com:*:nL4N2DZ0KU
    The company has hired Houlihan Lokey to devise a new
financing strategy after Moody's slashed the Wirecard's rating
to junk.  urn:newsml:reuters.com:*:nL8N2DX06Q
    
    DAIMLER  DAIGn.DE 
    Daimler is redoubling efforts to make savings and plans to
cut 20,000 jobs by 2025, Automobilwoche said, citing company
sources.
    
    VOLKSWAGEN  VOWG_p.DE  
    Chief Executive Herbert Diess told his managers that the
ripples from the Coronavirus crisis will be felt until at least
2022, Automobilwoche said, citing an internal company memo.
    
    AUTOS
    China re-classified petrol-electric hybrid vehicles so they
get more favourable treatment than all-petrol or diesel
counterparts under new clean car rules, making it easier for
automakers to meet environment quotas and offer more choice.
 urn:newsml:reuters.com:*:nL4N2DZ0JE
    
    SIEMENS  SIEGn.DE 
    Joe Kaeser will remain CEO of Siemens until early 2021,
newspaper Handelsblatt reported. It cited Kaeser as saying: "The
agreement is that the mandate ends when the Annual General
Meeting ends in February. It will stay that way." But he added:
"(Deputy CEO) Roland Busch will de facto lead the company from
October 1. He'll be responsible for the new financial year."
Kaeser also said that Siemens' plan to use an acquisition of
U.S. oilfield equipment maker Dresser-Rand to push ahead with
process automation and digitalisation in the oil and gas
industry had not worked.
    
    
    EX-DIVIDEND 
    DEUTSCHE TELEKOM  DTEGn.DE  - 0.60 eur/shr dividend
    NEMETSCHEK  NEKG.DE  - 0.28 eur/shr dividend
    ZEAL NETWORK  TIMAn.DE  - 0.80 eur/shr dividend
        
    
    OVERSEAS STOCK MARKETS  
    Dow Jones  .DJI  -0.8%, S&P 500 .SPX  -0.6%, Nasdaq  .IXIC 
unchanged at close.  .N 
    Nikkei  .N225  +0.3%, Shanghai stocks  .SSEC  +0.3%.  .T 
 .SS 
    Time: 5:02 GMT
    
    
    ECONOMY
    * No major German economic data scheduled
    * Astrid Wallrabenstein, a judge joining Germany's top
court, told Frankfurter Sonntagszeitung she hoped "things would
move in the right direction", after the court gave the ECB three
months to justify bond purchases or lose the Bundesbank as a
participant. ANALYSIS:  urn:newsml:reuters.com:*:nL8N2DV6K0
    
    
    DIARIES  DE/DIARY 
    REUTERS TOP NEWS  TOP/NEWS 

 (Reporting by Berlin, Frankfurt and Gdansk newsrooms)
 ((frankfurt.newsroom@thomsonreuters.com; +49 30 2888 5169))