April 30, 2020 / 4:30 AM / a month ago

German stocks - Factors to watch on April 30

BERLIN/FRANKFURT, April 30 (Reuters) - The following are some of the factors that may move German stocks on Thursday:

CORONAVIRUS

Just weeks after unveiling a massive stimulus scheme in a late-night shock-and-awe move, the European Central Bank is under pressure to deploy even more firepower to prop up an economy that could shrink by a tenth this year.

The top U.S. infectious disease official said Gilead’s experimental antiviral drug remdesivir will become the standard of care for COVID-19 after early clinical trial results showed it helped patients recover more quickly from the illness caused by the coronavirus.

Asian stocks rose to a fresh seven-week high, lifted by the results from the COVID-19 treatment trial, though bonds and currencies held cautious ranges ahead of a ECB meeting.

The number of confirmed coronavirus cases in Germany has risen by 1,478 to 159,119, data from the Robert Koch Institute showed. According to the tally, 6,288 people have died of the disease, a rise of 173.

HENKEL

The company and U.S. buyout fund KKR are holding off bidding for a portfolio of beauty brands that Coty is trying to sell as they fret over the fallout of the coronavirus pandemic, four sources told Reuters.

DEUTSCHE BOERSE

The exchange operator Deutsche Boerse posted a 33% rise in first-quarter net profit, in line with expectations, and left its guidance for the year unchanged.

BASF

The chemicals group said it was withdrawing its outlook for 2020 as it was impossible to estimate the length and further spread of the coronavirus pandemic but it still proposed an unchanged dividend for 2019 of 3.30 euros per share.

Additionally, Q1 results due. EBIT seen at 1.61 billion euros. Poll:

LUFTHANSA

Austria might demand a stake in Lufthansa in exchange for granting emergency aid to the German flag carrier’s unit Austrian Airlines, the country’s conservative chancellor, Sebastian Kurz, said.

BANKING

The chief executive of Deutsche Bank does not expect German banks will need to be bailed out because of the coronavirus pandemic like they were during the financial crisis, he said.

VOLKSWAGEN

The company said it is indefinitely delaying the resumption of production at its Tennessee assembly plant that had been set to restart on May 3.

Global automakers seeking emergency financing for their plants in Brazil have reached an impasse with several state and private banks, after the lenders demanded collateral from the parent companies, two sources told Reuters.

Additionally, Audi Q1 results due

WIRECARD

The company, which has seen its shares slump after a special audit was unable to verify its financial statements, has nominated Hauke Stars to succeed Susana Quintana-Plaza on the supervisory board, Handelsblatt reported. Stars was previously a member of the management board of Deutsche Boerse.

MTU AERO ENGINES

Q1 results due. Net profit seen at 123 million euros. Poll:

FUCHS PETROLUB

Q1 results due

NEMETSCHEK

Q1 results due

RTL

Q1 results due

AIXTRON

Q1 results due

CECONOMY

Ceconomy has secured a government-backed loan of 1.7 billion euros to mitigate the impact of the coronavirus on its business following forced shop closures, the consumer electronics retailer said.

BEFESA

The company announced it will propose a dividend of 0.44 euros per share equal to 15 million euros for distribution in July and will review an additional distribution in November once it has better visibility on the impact of the coronavirus impact.

Additionally, Q1 results due

DIC ASSET

Q1 results due

SNP SCHNEIDER

Q1 results due

TAKKT

Q1 results due

VOSSLOH

Q1 results due

WACKER CHEMIE

Q1 results due

EX-DIVIDEND

MUNICH RE - 9.80 eur/shr dividend

BEIERSDORF - 0.70 eur/shr dividend

OVERSEAS STOCK MARKETS

Dow Jones +2.2%, S&P 500 +2.7%, Nasdaq +3.6% at close.

Nikkei +2.9%, Shanghai stocks +1.3%.

Time: 4:25 GMT

ECONOMY

* German April unemployment data due at 0755 GMT. Rate seen at 5.2%, total number at 2.47 million

* German March retail sales due at 0600 GMT. Seen -7.3% m/m

DIARIES

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

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