BERLIN/FRANKFURT, June 25 (Reuters) - The following are some of the factors that may move German stocks on Thursday:
Asia’s stock markets slipped, bonds rose and the U.S. dollar was firm as surging U.S. coronavirus cases, global trade tensions and an International Monetary Fund downgrade to economic projections knocked confidence in a recovery.
An influential foundation focused on preparation and response to epidemics that is backing nine potential coronavirus vaccines has identified manufacturers with capacity to produce four billion doses a year, the group’s top manufacturing expert told Reuters.
The world faces a shortage of oxygen concentrators as the number of worldwide cases of coronavirus infection nears the 10 million mark, the World Health Organization head said.
Germany reported 630 new coronavirus cases and 13 more deaths.
After more than a year of talks, Bayer agreed to pay as much as $10.9 billion to settle thousands of U.S. lawsuits claiming that its weedkiller Roundup caused cancer, resolving litigation that has pummelled the company’s share price.
German billionaire Heinz Hermann Thiele will endorse a 9-billion euro government-backed bailout of Lufthansa, he told Frankfurter Allgemeine Zeitung, clearing the way for the rescue package at the eleventh hour.
Separately, Lufthansa said it had struck a savings deal worth more than 500 million euros with unions representing German cabin crew.
Wirecard’s former chief executive, Markus Braun, cut his stake in the company to 4.94% from 8.04% on June 18, the company said in a regulatory filing.
The United States moved to maintain pressure on the EU in a 16-year dispute over aircraft subsidies by flagging possible changes in tariffs on EU goods, as the date for a decision on reciprocal duties slipped to the autumn.
ANNUAL GENERAL MEETINGS
WUESTENROT & WUERTTEMBERGISCHE - 0.65 eur/shr dividend proposed
ZOOPLUS - no dividend proposed
DEUTZ - no dividend proposed
GERRESHEIMER - 1.20 euros/shr dividend
GRAND CITY PROPERTIES - 0.82 euros/shr dividend
RATIONAL AG - 5.70 euros/shr dividend
BILFINGER - 0.12 euros/shr dividend
E.ON - Jefferies cuts to ‘hold’ from ‘buy’
OVERSEAS STOCK MARKETS
Dow Jones -2.7%, S&P 500 -2.6%, Nasdaq -2.2% at close.
Nikkei -1.1%, Chinese markets closed.
Time: 4:18 GMT
* German GfK consumer climate indicator due at 0600 GMT. Seen at -12.0 heading into July
* The European Central Bank agreed to give vital documents to German authorities to prove the proportionality of ECB policies, two sources said, in a step to defuse a challenge threatening to undermine its powers to keep the euro zone together.
REUTERS TOP NEWS (Reporting by Berlin, Frankfurt and Gdansk newsrooms)
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