for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

German stocks - Factors to watch on July 9

BERLIN/FRANKFURT, July 9 (Reuters) - The following are some of the factors that may move German stocks on Thursday:

CORONAVIRUS

The number of confirmed coronavirus cases in Germany rose 442 to 197,783, data from the Robert Koch Institute (RKI) for infectious diseases showed on Thursday, with the reported death toll up 12 at 9,048.

SAP

SAP said late on Wednesday its business activity gradually improved in the second quarter from the effects of a global lockdown, with revenues and operating profit edging up, and the German software maker confirmed its full-year outlook.

COMMERZBANK

Commerzbank’s supervisory board formally accepted the resignation of its chief executive at a meeting on Wednesday amid a continuing leadership vacuum at the top of Germany’s No. 2 bank.

SIEMENS

The industrial conglomerate is not planning to cut jobs in Germany due to the COVID-19 pandemic, Chief Executive Joe Kaeser told Sueddeutsche Zeitung.

Siemens and other global technology players such as Bombardier and Hitachi Rail STS are in the race for a tender floated by India’s Railtel Enterprises to modernise the national transporter’s signalling system, Bushiness Standard reported.

AIRBUS

Airbus deliveries rose 50% in June compared with May and reached their highest level since the coronavirus crisis spread to Europe in March, but the accelerating recovery failed to prevent first-half deliveries from sliding to a 16-year low.

WIRECARD

The U.S. Justice Department is examining whether the German payment company played a critical role in an alleged $100 million bank-fraud conspiracy connected to an online marijuana marketplace, the Wall Street Journal reported.

BAYER

The FDA posted interim results for postmarket surveillance study on Bayer’s birth control device Essure. Early results show Essure tends to have higher rates of chronic lower abdominal, pelvic pain and abnormal uterine bleeding versus laparoscopic tubal ligation.

Australia’s Competition & Consumer Commission gave the green light to Elanco’s acquisition of Bayer’s animal health business.

Merck KGaA

The European Commission has struck deals with drugmakers Roche and Merck KGaA to secure supplies of experimental treatments for COVID-19, a Commission source told Reuters on Wednesday.

The deals cover Roche’s arthritis drug RoActemra and Merck’s multiple sclerosis drug Rebif - both seen as potential COVID-19 therapies - and will secure supplies for any of the 27 European Union member states wanting to buy them, the source said.

SUEDZUCKER

First quarter results due.

ANNUAL GENERAL MEETINGS

FIELMANN AG - 0 eur/shr dividend proposed

EX-DIVIDEND

DAIMLER AG - 0.90 euros/shr dividend

DIC ASSET AG - 0.66 euros/shr dividend

ANALYSTS’ VIEWS

INDUS HOLDING AG: HSBC RAISES TARGET PRICE TO EUR 43 FROM EUR 40

LANXESS AG: JEFFERIES RAISES TARGET PRICE TO EUR 53 FROM EUR 48 SAP SE: EVERCORE ISI RAISES TARGET PRICE TO EUR 146 FROM EUR 125

OVERSEAS STOCK MARKETS

Dow Jones +0.7%, S&P 500 +0.8%, Nasdaq +1.4% at close.

Nikkei +0.9%, Shanghai stocks +1.0%.

Time: 4:50 GMT

GERMAN ECONOMIC DATA

German May trade data due at about 0600 GMT. Exports seen +13.8% m/m, imports +12.0% m/m, trade balance at 5.2 bln euros.

DIARIES

REUTERS TOP NEWS (Reporting by Berlin, Frankfurt and Gdansk newsrooms)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up