June 26, 2020 / 4:28 AM / 20 days ago

German stocks - Factors to watch on June 26

BERLIN/FRANKFURT, June 26 (Reuters) - The following are some of the factors that may move German stocks on Friday:

CORONAVIRUS

Asian stock markets ground higher, and are set to end a choppy week more or less where they began it as surging coronavirus infections cast a shadow over encouraging economic data and checked hopes for a swift global recovery.

It is not certain that scientists will be able to create an effective vaccine against the coronavirus that has caused the pandemic, but it could take a year before one were to be invented, the head of the WHO said.

The governor of Texas temporarily halted the state’s reopening as COVID-19 infections and hospitalisations surged and the country set a new record for a one-day increase in cases.

Germany reported 477 new coronavirus cases and 21 more deaths.

DAIMLER

Proxy advisor Glass Lewis recommended Daimler shareholders abstain from this year’s vote over the business conduct of the carmaker’s executive and non-executive boards, citing ongoing investigations.

LUFTHANSA

Shareholders backed a 9-billion euro government bailout, securing the future of Germany’s flagship airline after it was brought to the brink of collapse by the COVID-19 pandemic.

WIRECARD

A Munich court commissioned an urgent assessment about Wirecard from insolvency law expert Michael Jaffe, putting him in the frame to be appointed administrator of the collapsed payments company.

Visa and Mastercard are considering revoking Wirecard’s ability to process payments on their networks, Bloomberg reported.

BANKING

The U.S. Federal Reserve announced it will cap big bank dividend payments and bar share repurchases until at least the fourth quarter after finding lenders faced significant capital losses when tested against an economic slump caused by the coronavirus pandemic.

TELECOMS

Telecommunications companies will have to wait until at least September for Germany’s government to agree rules on installing components in the future 5G mobile communications network, a government official said.

AIRBUS

A delay to a decision on whether the European Union can impose tariffs against the United States over subsidies for Boeing is unjustified and harms the bloc’s right to retaliate, the European Commission said.

HORNBACH HOLDING

Fiscal Q1 results due

ANNUAL GENERAL MEETINGS

RWE AG - 0.80 eur/shr dividend proposed

SARTORIUS - 0.35 eur/shr dividend proposed

SOFTWARE - 0.76 eur/shr dividend proposed

SILTRONIC AG - 3.00 eur/shr dividend proposed

EX-DIVIDEND

WUESTENROT & WUERTTEMBERGISCHE - 0.65 eur/shr dividend

OVERSEAS STOCK MARKETS

Dow Jones +1.2%, S&P 500 +1.1%, Nasdaq +1.1% at close.

Nikkei +1.3%, Chinese markets closed.

Time: 4:23 GMT

ECONOMY

German May import prices due at 0600 GMT

DIARIES

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

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