June 17, 2020 / 4:57 AM / 15 days ago

German stocks - Factors to watch on June 17

BERLIN/FRANKFURT, June 17(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 345 to 187,184, data from the Robert Koch Institute (RKI) for infectious diseases showed on Wednesday. The reported death toll rose by 30 to 8,830, the tally showed.

The unlisted biotech firm CureVac will become the second company to launch human trials of an experimental coronavirus vaccine in Germany, two people familiar with the plans told Reuters on Tuesday.

DEUTSCHE TELEKOM

Deutsche Telekom has sketched out an ‘armageddon’ scenario that foresees a 3 billion euro ($3.4 billion) hit to costs should Chinese suppliers be excluded from its German 5G network, Handelsblatt reports citing an internal document.

BAYER

The company said on Tuesday it would scrap a nearly $1 billion project to produce the chemical dicamba in the United States, but said the move is unrelated to a federal court decision that blocked sales of weed killers based on the product.

LUFTHANSA

German investor Heinz Hermann Thiele sharply criticised a 9-billion-euro bailout deal for carrier Lufthansa, saying he had raised his stake in the group to more than 15% and hoped alternative options could be explored.

VOLKSWAGEN

The carmaker will pay a 48% premium to buy out the minority shareholders of premium division Audi, Audi said on Tuesday.

WIRECARD

The payments company is urging the UK High Court to dismiss a fraud lawsuit, the Financial Times reported.

ALSTRIA OFFICE REIT

The group placed a 350 million euro corporate bond.

HUGO BOSS

The fashion house has appointed former Tommy Hilfiger boss Daniel Grieder as its next chief executive, it said on Tuesday.

ANNUAL GENERAL MEETINGS

HENKEL - 1.85 eur/shr dividend proposed

SYMRISE - 0.95 eur/shr dividend proposed

AMADEUS FIRE - no dividend proposed

DERMAPHARM - 0.80 eur/shr dividend proposed

EX-DIVIDEND

S&T - no dividend proposed

ANALYSTS’ VIEWS

* DEUTSCHE POST AG: HSBC CUTS TARGET PRICE TO EUR 38 FROM EUR 39

* RWE AG: HSBC RAISES TO BUY FROM HOLD, RAISES TARGET PRICE TO EUR 37 FROM EUR 25

OVERSEAS STOCK MARKETS

Dow Jones +2.0%, S&P 500 +1.9%, Nasdaq +1.8% at close.

Nikkei -0.4%, Shanghai stocks -0.1%.

Time: 4:54 GMT

GERMAN ECONOMIC DATA

German May car registration due at 0600 GMT.

DIARIES

REUTERS TOP NEWS ($1 = 0.8880 euros) (Reporting by Berlin, Frankfurt and Gdansk newsrooms)

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