March 12, 2020 / 5:19 AM / a month ago

German stocks - Factors to watch on March 12

BERLIN/FRANKFURT, March 12 (Reuters) - The following are some of the factors that may move German stocks on Thursday:

CORONAVIRUS

President Donald Trump said the United States will suspend all passenger travel from continental Europe on Friday to limit the spread of the coronavirus after the outbreak was formally declared a pandemic, sending global markets into a tailspin.

The European Central Bank is all but certain to unveil new stimulus measures, pushing policy closer to its limits to help the euro zone economy cope with the shock of the coronavirus epidemic.

The European Union’s top trade official has canceled plans to visit the United States and Canada next week as concerns escalate about the coronavirus, two EU officials said.

The number of confirmed coronavirus cases in Germany has risen to 1,567, the Robert Koch Institute said.

China’s Hubei province, the epicentre of the outbreak, will allow industrial production to resume in some parts of the province and ease travel restrictions in those regions accordingly.

AIRLINES

The new U.S. ban on foreign citizens entering the country if they have been in Europe in recent weeks will heap more pressure on airlines already reeling from the coronavirus pandemic, analysts said, hitting European carriers the hardest.

DEUTSCHE TELEKOM

California and other U.S. states which had fought a merger of Sprint and T-Mobile US over concerns about higher prices for consumers and less innovation have agreed to end their opposition.

VOLKSWAGEN

Volkswagen Mexico has isolated a staffer who travelled from Italy to its plant in Puebla and has asked 40 people who worked alongside him to stay home. Some of Mexico’s auto factories may have to suspend production in the coming weeks as the coronavirus outbreak disrupts shipments of key parts from China, according to local officials.

MAN

Around 6,000 of the truck maker’s 36,000 jobs are at risk, Handelsblatt said, citing a management briefing. A plant in Steyr, Austria could be shut, the paper said, adding that cuts will be done by early retirement and voluntary buyouts. MAN declined to comment.

RWE

2019 results due. Net profit seen at 1.03 billion euros. Poll:

CHEMICALS

German chemical industry association VCI publishes Q4 results

QIAGEN

The molecular testing company said it was ramping up production of a chemical used in some coronavirus tests, after a report that shortages could disrupt testing in the United States.

FRAPORT

February traffic figures due

K+S

News conference due. The minerals company K+S said on Wednesday it would sell its salt business in North and South America to slash its debt pile and focus on potash fertiliser products.

SGL CARBON

2019 results due

OVERSEAS STOCK MARKETS

Dow Jones -5.9%, S&P 500 -4.9%, Nasdaq -4.7% at close.

Nikkei -3.8%, Shanghai stocks -1.4%.

Time: 5:18 GMT

ECONOMY

No major German economic data scheduled

DIARIES

REUTERS TOP NEWS (Reporting by Berlin Speed Desk and Frankfurt Newsroom)

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