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:


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 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.


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.


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


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.


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


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


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


* 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


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

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