June 15, 2020 / 4:42 AM / a month ago

German stocks - Factors to watch on June 15

BERLIN/FRANKFURT, June 15(Reuters) - The following are some of the factors that may move German stocks on Monday:

CORONAVIRUS

The number of confirmed coronavirus cases in Germany increased by 192 to 186,461, data from the Robert Koch Institute (RKI) for infectious diseases showed on Monday.

Germany’s smartphone app to trace coronavirus infections is ready to be launched this week, Health Minister Jens Spahn said on Sunday.

DEUTSCHE BANK

Deutsche Bank can get through a recession without a capital increase, Stuart Lewis, board member responsible for risk management, told the Frankfurter Allgemeine Sonntagszeitung, adding business continued to develop well in the second quarter.

The bank aims to save an additional 100 million euros by combining its international private clients business with wealth management, Handelsblatt reported, citing financial sources.

ALLIANZ MUNICH RE HANNOVER RE

German insurers are putting together plans for a multi-billion euro public-private fund to help companies deal with business interruptions from future pandemics, according to an industry paper.

COMMERZBANK

Commerzbank, under fire for its strategy and leadership, on Friday rejected demands by top investor Cerberus for two seats on the German bank’s supervisory board, according to a letter seen by Reuters.

VOLKSWAGEN

Volkswagen’s Mexican unit will begin sending workers back to its plant in the central state of Puebla on Tuesday for “preparation and training eyeing a gradual start further ahead,” the company said in a statement on Sunday.

FRAPORT

May traffic figures due.

CONDOR

Charter airline Condor will cut up to 25% of its employees to reduce costs and recover from the coronavirus crisis, its CEO told the Frankfurter Allgemeine Sonntagszeitung, adding crisis in the airline sector could last until 2024.

LUFTHANSA

Austrian Airlines expects its business to end up a fifth smaller by 2022 and to have cut the number of its employees by around 1,100 from 7,000 currently, the head of the Deutsche Lufthansa subsidiary told a newspaper.

ANALYST VIEWS

DEUTSCHE LUFTHANSA AG: HSBC RAISES TARGET PRICE TO EUR 6 FROM EUR 5.75

OVERSEAS STOCK MARKETS

Dow Jones +1.9%, S&P 500 +1.3%, Nasdaq +1.0% at close.

Nikkei -1.2%, Shanghai stocks unchanged.

Time: 4:41 GMT

GERMAN ECONOMIC DATA

No major economic data scheduled.

DIARIES

REUTERS TOP NEWS (Reporting by Berlin, Frankfurt and Gdansk newsrooms)

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