March 20, 2020 / 6:07 AM / 20 days ago

CORRECTED-German stocks - Factors to watch on March 20

(Corrects Hornbach entry to read Hornbach Holding, not Hornbach Baumarkt)

BERLIN/FRANKFURT, March 20 (Reuters) - The following are some of the factors that may move German stocks on Friday:

CORONAVIRUS

The world’s richest nations poured unprecedented aid into the global economy on Thursday as coronavirus cases ballooned in the new epicentre Europe, with the number of deaths in Italy outstripping those in mainland China, where the virus originated.

With over 242,000 infections and nearly 10,000 deaths, the epidemic has stunned the world and drawn comparisons with painful periods such as World War Two, the 2008 financial crisis and the 1918 Spanish flu.

The German military is making preparations to help tackle the coronavirus crisis should other civil servants become overwhelmed with the outbreak. The number of confirmed cases in the country leapt by almost a third on Thursday to reach 11,000, with 20 known deaths to date, according to the Robert Koch Institute for Disease Control.

Germany wants to help large companies like Lufthansa with temporary government participation if necessary, Finance Minister Olaf Scholz told ZDF broadcaster late on Thursday, adding that Germany could endure the coronavirus crisis for “very long” time, thanks to its solid financial policy.

BAYER

The company said on Thursday it had donated 3 million tablets of the malaria drug Resochin to the U.S. government for potential use to treat COVID-19.

CONTINENTAL

Annual report due

DEUTSCHE BANK

Annual report due

SIEMENS

Siemens managing board member Michael Sen will no longer take charge of the new energy business which the German engineering group wants to spin off later this year, it said on Thursday, after he agreed to leave the company.

VOLKSWAGEN

The carmaker will suspend production at its plant in Chattanooga, Tennessee.

Bentley will stop car production at its British factory from the end of Friday for four weeks over the coronavirus outbreak, one of the final automakers in Britain to announce such plans.

DUERR

Annual report due

The company will postpone its annual general meeting.

FIELMANN

The company will temporarily close its stores in Germany and Switzerland amid the virus outbreak.

DRAEGERWERKE

Draeger said that ventilator production had doubled but that it couldn’t meet the current global demand.

STROEER

Stroeer said it didn’t currently expect coronavirus crisis to have negative impact on medium-term business forecast from 2021

GRAMMER

Has decided to halt production at its European locations

OSRAM

Austrian sensor specialist AMS said on Thursday that its public offer for German lighting group Osram was expected to close in the second quarter.

DWS GROUP

Full year results due

ANALYSTS’ VIEWS

MORPHOSYS AG: RBC cuts target price to 113 euros from 130 euros

AIRBUS GROUP: Jefferies raises to buy from hold; cuts target price to 80 euros from 120 euros

HORNBACH

Hornbach Holding said adjusted EBIT was now expected to be probably slightly higher than guidance range recently communicated.

OVERSEAS STOCK MARKETS

Dow Jones +1.0%, S&P 500 +0.5%, Nasdaq +2.3% at close.

Japanese markets closed, Shanghai stocks +0.4%.

Time: 5:58 GMT

GERMAN ECONOMIC DATA

German February producer prices due at 0700 GMT. Seen -0.1% m/m, +0.2% y/y.

DIARIES

REUTERS TOP NEWS (Reporting by Berlin Speed Desk and Frankfurt Newsroom)

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