June 5, 2020 / 4:59 AM / a month ago

German stocks - Factors to watch on June 5

BERLIN/FRANKFURT, June 5(Reuters) - The following are some of the factors that may move German stocks on Friday:

CORONAVIRUS

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.

LUFTHANSA

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

Volkswagen is resuming deliveries of its Golf 8 model after fixing a software glitch, a spokesman said on Thursday.

HUGO BOSS

The company confirmed ongoing talks with Daniel Grieder for the position of chief executive officer.

PROPERTY COMPANIES

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.

ANNUAL GENERAL MEETINGS

DEUTSCHE WOHNEN - 0.90 eur/shr dividend proposed

CORESTATE CAPITAL HOLDING - no dividend proposed

EX-DIVIDEND

HEIDELBERGCEMENT - 0.60 euros/shr dividend

LPKF LASER - 0.10 euros/shr dividend

ANALYSTS’ VIEWS

* ADIDAS AG: CITIGROUP RAISES PRICE TARGET TO EUR 290 FROM EUR 245

OVERSEAS STOCK MARKETS

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 ECONOMIC DATA

German April industrial orders due at about 0600 GMT. Seen -19.7% m/m.

DIARIES

REUTERS TOP NEWS ($1 = 0.8809 euros) (Reporting by Berlin, Frankfurt and Gdansk newsrooms)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below