June 16, 2020 / 4:31 AM / 24 days ago

German stocks - Factors to watch on June 16

BERLIN/FRANKFURT, June 16 (Reuters) - The following are some of the factors that may move German stocks on Tuesday:

CORONAVIRUS

German drugmaker CureVac, in which the government is taking a stake to help fund a COVID-19 vaccine, is planning an initial public offering in the U.S. next month, a finance ministry document seen by Reuters showed.

Asian shares and Wall Street futures rallied as the formal start of the Federal Reserve’s corporate bond buying programme boosted global investor sentiment and calmed earlier worries about a second wave of coronavirus infections.

Beijing banned high-risk people from leaving the Chinese capital and halted some transportation services to stop the spread of a fresh coronavirus outbreak to other cities and provinces.

The origins of a new cluster of coronavirus infections in Beijing are uncertain, World Health Organization officials said, but the claim that it might have been caused by imports or packaging of salmon was not the “primary hypothesis”.

Germany reported 378 new cases and eight new deaths.

LUFTHANSA

Lufthansa said that of the 22,000 positions it was seeking to eliminate, 600 will be pilots, 2,600 flight attendants and 1,500 ground staff. It is seeking to avoid layoffs and to strike a deal with labour leaders by June 22.

DEUTSCHE TELEKOM

The Federal Communications Commission will probe an extensive T-Mobile network outage that impacted customers across the United States, the head of the U.S. telecommunications regulatory agency said.

DEUTSCHE POST

The company’s current letter rate for consumers could be unlawful, regulator BNetzA said.

INFINEON

German financial markets regulator BaFin warned that shares in the chip maker were being touted illegally by an unknown investor who has failed to issue an offer prospectus.

ZALANDO

Sweden’s Kinnevik is selling a 4.2% stake in the online fashion retailer through an accelerated bookbuilding process, it said.

ANALYSTS’ VIEWS

SCHAEFFLER - Moody’s downgrades ratings to ‘Ba1’ from ‘Baa3’; outlook stable

OVERSEAS STOCK MARKETS

Dow Jones +0.6%, S&P 500 +0.8%, Nasdaq +1.4% at close.

Nikkei +4.0%, Shanghai stocks +0.9%.

Time: 4:29 GMT

ECONOMY

* German June ZEW indicator due at 0900 GMT. Economic sentiment seen at 60.0, current conditions at -84.0

* German May final CPI due at 0600 GMT

* German May wholesale prices due at 0600 GMT

DIARIES

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

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