BERLIN/FRANKFURT, June 5(Reuters) - The following are some of the factors that may move German stocks on Friday:
The German government’s panel of advisers expects Europe’s biggest economy to contract by 6-7% this year due to the coronavirus, a more pessimistic assessment than the group made in March, the group’s head told the Funke media group on Friday.
German Chancellor Angela Merkel said on Thursday a reduction in sales tax, announced as part of a 130 billion euro economic stimulus package, would only last until the end of the year.
The number of confirmed coronavirus cases in Germany increased by 394 to 183,271, data from the Robert Koch Institute (RKI) for infectious diseases showed on Friday. The reported death toll rose by 26 to 8,613, the tally showed.
Germany’s flagship carrier, hit hard by the coronavirus and taking a 9 billion euro ($10.22 billion) state bailout, is being removed from the country’s benchmark blue-chip DAX index, stock exchange operator Deutsche Boerse said on Thursday. It will be replaced by property company Deutsche Wohnen.
Volkswagen is resuming deliveries of its Golf 8 model after fixing a software glitch, a spokesman said on Thursday.
The company confirmed ongoing talks with Daniel Grieder for the position of chief executive officer.
TAG IMMOBILIEN, GRAND CITY PROPERTIES, LEG IMMOBILIEN, DEUTSCHE WOHNEN, ADO PROPERTIES
Ratings agency Moody’s announces completion of a periodic review of the ratings of these companies.
DEUTSCHE WOHNEN - 0.90 eur/shr dividend proposed
CORESTATE CAPITAL HOLDING - no dividend proposed
HEIDELBERGCEMENT - 0.60 euros/shr dividend
LPKF LASER - 0.10 euros/shr dividend
* ADIDAS AG: CITIGROUP RAISES PRICE TARGET TO EUR 290 FROM EUR 245
Dow Jones +0.1%, S&P 500 -0.3%, Nasdaq -0.7% at close.
Nikkei +0.5%, Shanghai stocks -0.3%.
Time: 4:55 GMT
German April industrial orders due at about 0600 GMT. Seen -19.7% m/m.
REUTERS TOP NEWS ($1 = 0.8809 euros) (Reporting by Berlin, Frankfurt and Gdansk newsrooms)