June 10, 2020 / 5:22 AM / a month ago

German stocks - Factors to watch on June 10

BERLIN/FRANKFURT, June 10 (Reuters) - The following are some of the factors that may move German stocks on Wednesday:

CORONAVIRUS

The number of confirmed coronavirus cases in Germany increased by 318 to 184,861, data from the Robert Koch Institute (RKI) for infectious diseases showed on Wednesday.

Germany plans to extend a travel ban for non-European countries until Aug. 31, government sources told Reuters on Tuesday, adding Berlin was also strongly advising against any cruises due to the special risks related to coronavirus.

CONTINENTAL

The automotive supplier will probably have to make cost cuts of several hundred million euros and the likelihood that it will have to discuss redundancies is “very, very high”, sources in WirtschaftsWoche magazine cited the company’s chief executive as saying in an internal video.

CUM EX

Germany’s finance ministry plans to expand the statute of limitations to 30 years on so-called “cum ex” trades with bogus tax reclaims from phantom dividends to give prosecutors time to press charges, according to a draft law seen by Reuters.

DEUTSCHE BANK

Deutsche Bank’s head of the EMEA region is leaving the company, Bloomberg reported on Tuesday.

ANNUAL GENERAL MEETINGS

K+S - 0.04 eur/shr dividend proposed

BRENNTAG - 1.25 eur/shr dividend proposed

PROSIEBENSAT 1 MEDIA - no dividend proposed

ECKERT & ZIEGLER - 1.70 eur/shr dividend proposed

ANALYSTS’ VIEWS

SIEMENS AG: JP MORGAN RAISES PRICE TARGET TO EUR 110 FROM EUR 104

SIXT SE: JEFFERIES RAISES PRICE TARGET TO EUR 100 FROM EUR 80

MTU AERO ENGINES AG: HSBC CUTS TO HOLD FROM BUY; CUTS TARGET PRICE TO EUR 170 FROM EUR 175

DELIVERY HERO SE: HSBC RAISES TARGET PRICE TO EUR 97 FROM EUR 85

SHOP APOTHEKE EUROPE NV: CITIGROUP RAISES PRICE TARGET TO EUR 120 FROM EUR 95

CONTINENTAL AG : BARCLAYS RAISES TARGET PRICE TO EUR 90 FROM EUR 55

OVERSEAS STOCK MARKETS

Dow Jones -1.1%, S&P 500 -0.8%, Nasdaq +0.3% at close.

Nikkei +0.1%, Shanghai stocks -0.5%.

Time: 5:18 GMT

GERMAN ECONOMIC DATA

No major economic data scheduled.

DIARIES

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

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below