April 27, 2020 / 4:15 AM / a month ago

German stocks - Factors to watch on April 27

BERLIN/FRANKFURT, April 27 (Reuters) - The following are some of the factors that may move German stocks on Monday:

CORONAVIRUS

The number of Germany’s confirmed coronavirus cases increased by 1,018 to 155,193 while the death toll rose by 110 to 5,750, data from the Robert Koch Institute shows.

The Bank of Japan expanded monetary stimulus for the second straight month to ease corporate funding strains and finance huge government spending aimed at combating the deepening economic fallout from the pandemic.

Asian shares bounced as the BOJ announced more stimulus steps, while oil took another spill as the world ran short of space to store it all.

DEUTSCHE BANK

The lender announced Q1 results it said were above market expectations, but warned it might temporarily miss its capital requirement target as it extends more credit due to the impact of the coronavirus pandemic.

Tens of thousands of customers are asking for a deferral of their loans due to the coronavirus crisis, Manfred Knof, head of the private client business, tells the Handelsblatt.

Deutsche Bank has declined a request by prominent U.S. senators to provide information about the German lender’s recent business dealings with President Donald Trump and his family, according to a letter this week seen by Reuters.

LUFTHANSA

Germany’s ruling coalition is divided over whether the state should have a role in running airline Lufthansa in return for a rescue package the company aims to finalise, politicians said.

The carrier expects it will operate 100 fewer aircraft with 10,000 fewer staff after the coronavirus crisis ends, its chief executive Carsten Spohr told employees.

DAIMLER

Mercedes-Benz maker Daimler has seen business stabilise in China after the country ended coronavirus lockdowns, a senior manager at the German carmaker told a newspaper.

VOLKSWAGEN

The company will restart production at its Wolfsburg factory in Germany on Monday, the latest of a fleet of European carmakers to take advantage of eased coronavirus lockdown rules to resume manufacturing.

Also, Volkswagen will extend until at least May 18 a suspension on operations at its Puebla production plant in Mexico due to the pandemic, the company said.

ADIDAS

Q1 results due. Net profit seen at 168 million euros. Poll:

BAYER

Q1 results due. Net profit seen at 2.2 billion euros. Poll:

Additionally, asset manager Deka plans to vote to ratify the actions of Bayer’s management at this year’s annual general meeting, Handelsblatt reported.

AIRBUS

The planemaker issued a bleak assessment of the impact of the coronavirus crisis, telling the company’s 135,000 employees to brace for potentially deeper job cuts and warning its survival is at stake without immediate action.

DEUTSCHE WOHNEN

The company placed 1 billion euros in corporate bonds.

SIXT

The car rental company reported a pre-tax loss of 5 million euros for the first quarter as the coronavirus pandemic significantly impacted its business in March.

AMADEUS FIRE

Q1 results due

BIONTECH

German biotech company BioNTech, which has approval for human trials of potential coronavirus vaccines, has lately been contacted by industry players but is not interested in a takeover, a newspaper reported.

OVERSEAS STOCK MARKETS

Dow Jones +1.1%, S&P 500 +1.4%, Nasdaq +1.7% at close.

Nikkei +2.2%, Shanghai stocks +0.7%.

Time: 4:15 GMT

ECONOMY

No major German economic data scheduled

DIARIES

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

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