BERLIN/FRANKFURT, Feb 27 (Reuters) - The following are some of the factors that may move German stocks on Thursday:
* Germany is at the beginning of a coronavirus epidemic after new cases sprung up that can no longer be traced to the virus’ original source in China, Health Minister Jens Spahn said.
* The United States and South Korea postponed joint military drills to limit the spread of coronavirus, as the number of infections outside China, the source of the outbreak, for the first time surpassed those appearing in the country.
* The Geneva International Motor Show will go on as planned, its organizers said after evaluating developments of the coronavirus.
* The 1,000 workers of Italdesign, an Audi subsidiary in Italy, were sent home earlier this week after an employee was suspected of a coronavirus infection, but most have returned to work, a spokesman said.
2019 results due. Net profit seen at 6.28 billion euros. Poll:
The departure of Bayer Chairman Werner Wenning will turn up the heat on CEO Werner Baumann to resolve the healthcare to agriculture group’s legal problems, two of the firm’s biggest German shareholders said.
The reinsurer said it had not changed its risk assessment in the wake of the coronavirus.
2019 integrated report due
CATL, China’s top electric vehicle battery maker that has partnerships with Volkswagen and BMW, said it aims to raise up to $2.85 billion in a private placement of shares to fund its battery projects and boost working capital.
The company reported a drop in 2019 revenue due to the disposal of non-core assets, the loss of rental income, and acceleration of refurbishment.
The real estate company said it successfully completed a private placement of $250 million subordinated convertible notes due in 2023.
2019 preliminary results due
Comdirect said that Commerzbank had submitted a formal request to acquire minority shares in the online brokerage through a so-called squeeze-out.
The supervisory board will meet to decide on who will get the group’s prized elevator division, concluding what could be the world’s largest private equity deal this year.
Private equity suitors for the division, which is seen fetching around 16 billion euros, have submitted offers with similar levels of debt, four people familiar with the process told Reuters.
The company said it shipped a newly developed test kit, which detects the novel coronavirus, to four hospitals in China for evaluation.
2019 results due. Net profit seen at 79.7 million euros. Poll:
2019 financial report due
AURUBIS - 1.25 dividend/share proposed
Dow Jones -0.5%, S&P 500 -0.4%, Nasdaq +0.2% at close.
Nikkei -2.4%, Shanghai stocks +0.6%.
Time: 5:12 GMT
No major German economic data scheduled
REUTERS TOP NEWS (Reporting by Berlin Speed Desk and Frankfurt Newsroom)