BERLIN/FRANKFURT, April 3 (Reuters) - The following are some of the factors that may move German stocks on Friday:
Global coronavirus cases surpassed 1 million with more than 52,000 deaths as the pandemic further exploded in the United States and the death toll climbed in Spain and Italy, according to a Reuters tally of official data.
German companies with international experience and supply chains have been commissioned to help the government procure difficult-to-obtain supplies as part of the country’s response to the coronavirus crisis, a government document showed.
Insurers and reinsurers in the EU should suspend dividends and share buybacks, and consider postponing bonuses as well to ensure continuity in services during the coronavirus pandemic, the bloc’s insurance regulator said.
Allianz said it would maintain its 2019 dividend and stick to its 2020 share buyback plans.
The Nivea maker scrapped its 2020 outlook due to the coronavirus pandemic, and released preliminary first-quarter sales that showed a 3.6% fall from a year earlier. It will also hold an online annual general meeting on April 29.
The carmaker said it has signed an agreement for a 12 billion euro credit line to increase its financial flexibility in the coronavirus crisis.
The company is seeking more than 1 billion euros in German government aid as it grapples with the fallout of the coronavirus pandemic, Bloomberg reported.
The group’s T-Mobile US division is selling $19 billion of bonds to help finance its acquisition of Sprint ., Bloomberg reported.
The group has issued a eurobond with a volume of 650 million euros.
The group will idle about 60% of its German plants as of next week, CEO Rolf Breidenbach told Handelsblatt.
The group withdrew its outlook for 2020 as well as its dividend proposal for 2019 due to the coronavirus outbreak.
Germany’s largest steelmaker is cutting steel output, and staff will work shortened hours as the coronavirus crisis is hitting the sector.
The company said its supervisory board elected former Siemens CEO Peter Loescher as its chairman.
GRAND CITY PROPERTIES
The company said it placed bonds worth 600 million euros to increase its liquidity position.
The group scrapped its 2020 outlook due to the coronavirus crisis. Also, 2019 annual report due.
OVERSEAS STOCK MARKETS
Dow Jones +2.2%, S&P 500 +2.3%, Nasdaq +1.7% at close.
Nikkei -0.1%, Shanghai stocks -0.3%.
Time: 4:17 GMT
* German March Markit PMI due at 0755 GMT. Services seen at 34.3, composite at 36.8
* VDMA March engineering orders due at 0800 GMT
REUTERS TOP NEWS (Reporting by Berlin Speed Desk and Frankfurt Newsroom)
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