January 29, 2020 / 5:26 AM / 20 days ago

German stocks - Factors to watch on January 29

BERLIN/FRANKFURT, Jan 29 (Reuters) - The following are some of the factors that may move German stocks on Wednesday:

CORONAVIRUS

The death toll from the new coronavirus in China rose sharply to 132 with nearly 1,500 reported new cases. U.S. officials said the White House was weighing whether to suspend flights to the country to control the spread of the disease.

Most of the World Health Organization’s criteria for declaring a global emergency have been met, but it is awaiting clear evidence of a sustained spread of the new coronavirus outside China before doing so, some experts and diplomats said.

Additionally, three more people in southern Germany have contracted the coronavirus, the Bavarian health ministry said.

DEUTSCHE BANK

The lender has delayed raises to fixed pay compensation by three months until after April 1, citing the need to further improve cost management, according to a memo.

DEUTSCHE POST

Germany’s network regulator has started formal proceedings against Deutsche Post’s mark-ups on the postage of packages in Germany, Frankfurter Allgemeine Zeitung quoted sources as saying.

AUTOS

A Reuters analysis of Tesla’s and other luxury carmakers’ operating profit per vehicle - a metric closely watched by auto executives - shows Tesla still has a long way to go before reaching the steady profits of rivals Porsche, BMW and Mercedes-Benz.

Renault’s named Luca de Meo, the former head of Volkswagen’s Seat brand, as its next chief executive.

AIRBUS

The planemaker faces a record $4 billion fine and lower 2019 profits after unveiling a preliminary deal with French, British and U.S. authorities following a crippling three-year probe into allegations of bribery and corruption over jetliner sales.

THYSSENKRUPP

Finland’s Kone has offered about 17 billion euros for Thyssenkrupp’s elevator unit, the highest bid so far, drawing scepticism from one of the German group’s labour bosses who said price alone would not cut it.

SOFTWARE AG

The software company reported lower year-on-year revenues and net income for the fourth quarter and announced it would increase its strategic investments.

SILTRONIC

Preliminary 2019 results due

OVERSEAS STOCK MARKETS

Dow Jones +0.7%, S&P 500 +1.0%, Nasdaq +1.4% at close.

Nikkei +0.7%, Chinese markets closed.

Time: 5:21 GMT

ECONOMY

* German February GfK consumer sentiment due at 0700 GMT, seen at 9.6 points

* German December import prices due at 0700 GMT, seen +0.3% m/m, -0.6% y/y

DIARIES

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

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