June 24, 2020 / 4:27 AM / 8 days ago

German stocks - Factors to watch on June 24

BERLIN, June 24(Reuters) - The following are some of the factors that may move German stocks on Wednesday:

CORONAVIRUS

Asian shares crept to a four-month high as investors remained stubbornly upbeat on the outlook for a re-opening of the global economy even as cases of the coronavirus looked to be accelerating to new peaks.

Germany reported 587 new coronavirus infections and 19 more deaths.

WIRECARD

Germany’s financial watchdog said it had filed an updated case against Wirecard, saying the payment company’s disclosure of a $2.1 billion financial hole showed it had sought to mislead markets.

VOLKSWAGEN

Volkswagen is in talks to acquire car French rental firm Europcar, in a deal that would allow the car maker to better capitalise on its fleet, people familiar with the matter said.

DEUTSCHE TELEKOM

SoftBank is set to sell a portion of its stake in T-Mobile US at $103 per share to raise $13.76 billion, a person familiar with the matter said.

DAIMLER

Semiconductor company Nvidia has struck a deal with Daimler to develop and equip Mercedes-Benz cars with a next-generation chip and software platform that could eventually be used for autonomous driving functions.

DIALOG SEMICONDUCTOR

The chipmaker increased its Q2 revenue outlook due to the demand for products including tablets and notebooks driven by the shift to a “work and learn from home”.

LEG IMMOBILIEN

The real estate company said it is launching a capital increase and will issue convertible bonds, adding the targeted proceeds of around 800 million euros will be used for financing recent acquisitions and general corporate purposes.

QIAGEN

The company said it could realise a pre-tax capital gain of $120 million from its minority investment in ArcherDX, a genomics analysis company.

AIRBUS

French unions and a regional body slammed a decision by Airbus to cancel plans to bring some engine work in-house, saying it would cost 350 French jobs.

ANNUAL GENERAL MEETINGS

AROUNDTOWN - 0.25 eur/shr dividend proposed

GERRESHEIMER - 1.20 eur/shr dividend proposed

GRAND CITY PROPERTIES - 0.82 eur/shr dividend proposed

RATIONAL - 5.70 eur/shr dividend proposed

BILFINGER - 0.12 eur/shr dividend proposed

SIXT - no dividend proposed

ANALYSTS’ VIEWS

DEUTSCHE BOERSE - HSBC cuts to ‘hold’ from ‘buy’

OVERSEAS STOCK MARKETS

Dow Jones +0.5%, S&P 500 +0.4%, Nasdaq +0.7% at close.

Nikkei -0.1%, Shanghai stocks +0.2%.

Time: 4:26 GMT

ECONOMY

* German June Ifo indicator due at about 0800 GMT. Business climate seen at 85.0, current conditions at 84.0, expectations at 87.0

DIARIES

REUTERS TOP NEWS (Reporting by Berlin and Gdansk newsrooms)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below