BERLIN/FRANKFURT, June 22 (Reuters) - The following are some of the factors that may move German stocks on Monday:
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.
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.
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.
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.
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.
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.
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.
The company has hired Houlihan Lokey to devise a new financing strategy after Moody’s slashed the Wirecard’s rating to junk.
Daimler is redoubling efforts to make savings and plans to cut 20,000 jobs by 2025, Automobilwoche said, citing company sources.
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.
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.
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.
DEUTSCHE TELEKOM - 0.60 eur/shr dividend
NEMETSCHEK - 0.28 eur/shr dividend
ZEAL NETWORK - 0.80 eur/shr dividend
Dow Jones -0.8%, S&P 500 -0.6%, Nasdaq unchanged at close.
Nikkei +0.3%, Shanghai stocks +0.3%.
Time: 5:02 GMT
* 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:
REUTERS TOP NEWS (Reporting by Berlin, Frankfurt and Gdansk newsrooms)