June 3, 2020 / 4:22 AM / a month ago

German stocks - Factors to watch on June 3

BERLIN/FRANKFURT, June 3 (Reuters) - The following are some of the factors that may move German stocks on Wednesday:

CORONAVIRUS

Parties in Chancellor Angela Merkel’s coalition wrestled over final details of a stimulus package to help recovery from the pandemic, including whether cash incentives to buy new cars should exclude combustion engines.

Germany’s economic downturn this year could be even sharper than previously expected, Economy Minister Peter Altmaier said.

Germany reported 342 new coronavirus cases and 29 more deaths.

LUFTHANSA

Q1 results due

BAYER

A California appeals court heard arguments in the first case that went to trial over allegations that Bayer’s glyphosate-based weed killer Roundup causes cancer, resulting in a $289 million judgment against the company.

TECHNOLOGY

A proposed European cloud computing platform that seeks to break the continent’s reliance on Silicon Valley will take shape in the coming weeks when a group of 22 French and German companies set up a legal entity to run it.

RHOEN KLINIKUM

Extraordinary general meeting due

ANALYSTS’ VIEWS

BASF - Jefferies raises to ‘buy’ from ‘hold’

OVERSEAS STOCK MARKETS

Dow Jones +1.1%, S&P 500 +0.8%, Nasdaq +0.6% at close.

Nikkei +1.0%, Shanghai stocks +0.5%.

Time: 4:18 GMT

ECONOMY

* German May unemployment data due at 0755 GMT. Rate seen at 6.2%.

* German May Markit final PMI due at 0755 GMT. Services seen at 31.4, composite at 31.4

DIARIES

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

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