March 19, 2020 / 5:22 AM / 2 months ago

German stocks - Factors to watch on March 19

BERLIN/FRANKFURT, March 19 (Reuters) - The following are some of the factors that may move German stocks on Thursday:

CORONAVIRUS

The European Central Bank launched new bond purchases worth 750 billion euros at an emergency meeting in a bid to stop a pandemic-induced financial rout shredding the euro zone’s economy and renew concerns about the bloc’s viability.

Chancellor Angela Merkel urged all German citizens to help fight the spread of the coronavirus by sticking to rules aimed at reducing direct social contact and avoiding as many new infections as possible.

Germany expanded entry restrictions to include flights from Italy, Spain, Austria, France, Luxembourg, Denmark and Switzerland.

The U.S. Senate overwhelmingly passed legislation providing billions of dollars to limit the damage from the coronavirus pandemic through free testing, paid sick leave and expanded safety-net spending.

DEUTSCHE TELEKOM

The company said that its networks were stable and secure, and were coping with increased fixed-line data traffic and a greater number of phone calls due to the coronavirus pandemic.

VOLKSWAGEN

Audi 2019 results due. Audi said it will suspend production at its plant in Mexico’s Puebla state from March 23 through April 13 as the coronavirus hits global supply chains.

BMW

Analysts’ and investors’ conference due

HEIDELBERGCEMENT

2019 results due

LUFTHANSA

2019 annual report due

BANKING

Two British bankers were handed suspended jail terms and one a 14 million euro penalty in Germany’s biggest post-war fraud trial of a scam involving multi-billion-euro trades to get bogus tax reclaims. Explainer:

HUGO BOSS

The fashion house scrapped the outlook it gave for 2020 results less than two weeks ago and took action to protect its cash balance, suspending store renovations and new openings and limiting the inflow of stock.

OSRAM

The lighting group, which is being acquired by Austrian sensor maker AMS, withdrew its guidance for the 2020 financial year because of the coronavirus.

MORPHOSYS

Conference call due. The company reported a 2019 consolidated net loss of 103 million euros on revenues of 71.8 million euros.

QIAGEN

The company announced it has obtained a CE marking for a coronavirus test to be sold as an in-vitro diagnostic.

BECHTLE

2019 annual report due

DEUTSCHE PFANDBRIEFBANK

2019 annual report due

FUCHS PETROLUB

2019 results due

NORMA GROUP

The company said it will reduce shifts and interrupt production processes at its sites in the EMEA and the Americas regions due to the coronavirus and proposed to suspend its dividend.

PATRIZIA

The company announced a share buyback programme and confirmed its 2020 outlook.

SAF HOLLAND

The maker of truck and trailer components said it will propose to pay no dividend for 2019, citing significantly higher restructuring expenses.

SCHAEFFLER

The car parts supplier postponed its annual general meeting due to the spread of the coronavirus and the ban on mass events.

TLG IMMOBILIEN

The company announced its funds from operations rose to 148 million euros, pointing to renting activities and the results from the stake in Aroundtown.

DEUTSCHE EUROSHOP

2019 preliminary results due

ELMOS SEMICONDUCTOR

2019 final results due

ENCAVIS

2019 annual report due

INSTONE REAL ESTATE

2019 annual report due

KOENIG & BAUER

2019 annual report due

KRONES

2019 annual report due

VOSSLOH

2019 results due

OVERSEAS STOCK MARKETS

Dow Jones -6.3%, S&P 500 -5.2%, Nasdaq -4.7% at close.

Nikkei -1.3%, Shanghai stocks -2.3%.

Time: 5:17 GMT

ECONOMY

* Preliminary ifo economic indicator due at 0900 GMT

DIARIES

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

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