BERLIN/FRANKFURT, March 5(Reuters) - The following are some of the factors that may move German stocks on Thursday:
Mainland China reported a rise in new confirmed cases of coronavirus on Thursday, reversing three straight days of declines, because of a spike in new infections in Wuhan, the city at the centre of the outbreak.
The company announced a share buyback program that will start on March 6 and be completed by April 3.
Morphosys said it had decided on a capital increase to implement the purchase of 3.63 million American depositary shares by Incyte Corporation.
ProSiebenSat.1 Media said its e-commerce arm NuCom would buy U.S. dating app developer Meet Group Inc, as the German broadcaster doubles down on digital growth to offset its declining commercial TV franchise.
Prosieben said adjusted EBITDA was down 14% to 872 million euros in 2019.
Wolfgang Porsche and Hans-Michel Piech, members of the family which controls German carmaker Volkswagen, fully support the shift towards electric cars being driven by Chief Executive Herbert Diess, they told Bild newspaper.
WirtschaftsWoche magazine on Thursday cited Streetscooter co-founder Guenther Schuh saying he could imagine buying back the electric van business from Deutsche Post. He said he was talking to Deutsche Post. His comments came after Deutsche Post announced that it would no longer pursue exploratory talks on possible partners for Streetscooter.
German fashion house Hugo Boss warned that the coronavirus will have a significant impact on its first-quarter results, with sales falling particularly in Asia, but also in other key markets.
FY results due. Q4 revenue seen at 11.10 bln euros. Poll:
Germany’s Merck KGaA said adjusted core earnings would see “strong” growth in 2020, excluding the effect of currency swings, driven by its prescription drugs unit and the lab equipment business.
German residential property company Vonovia on Thursday confirmed its 2020 guidance for funds from operations (FFO) to hit between 1.275 billion euros and 1.325 billion euros ($1.42 billion - $1.48 billion).
Q4 results due. Q4 EBIT seen at 773.8 mln euros. Poll:
Full year annual profit was down to 33.8 million euros from 34.9 million euros a year earlier.
LINDE $0.963 quarterly dividend per share
* PUMA SE: RBC cuts price target to 87 euros from 90 euros
* ADIDAS AG: RBC cuts price target to 290 euros from 310 euros
* HELLOFRESH SE: JP Morgan raises to “overweight” from “neutral”; raises target price to 28 euros from 20 euros
* LUFTHANSA: CITIGROUP cuts price target to 10 euros from 13 euros
* BRENNTAG AG: CITIGROUP cuts price target to 50 euros from 52 euros
* THYSSENKRUPP: Morgan Stanley cuts target price to 10.40 euros from 11.90 euros
* ALLIANZ SE: Berenberg initiates with price target of 282 euros and “buy” rating
Dow Jones +4.5%, S&P 500 +4.2%, Nasdaq +3.9% at close.
Nikkei +1.1%, Shanghai stocks +2.0%.
Time: 6:59 GMT
No major economic data scheduled.
REUTERS TOP NEWS (Reporting by Berlin Speed Desk and Frankfurt Newsroom)