BERLIN/FRANKFURT, June 3 (Reuters) - The following are some of the factors that may move German stocks on Wednesday:
Parties in Chancellor Angela Merkel’s coalition wrestled over final details of a stimulus package to help recovery from the pandemic, including whether cash incentives to buy new cars should exclude combustion engines.
Germany’s economic downturn this year could be even sharper than previously expected, Economy Minister Peter Altmaier said.
Germany reported 342 new coronavirus cases and 29 more deaths.
Q1 results due
A California appeals court heard arguments in the first case that went to trial over allegations that Bayer’s glyphosate-based weed killer Roundup causes cancer, resulting in a $289 million judgment against the company.
A proposed European cloud computing platform that seeks to break the continent’s reliance on Silicon Valley will take shape in the coming weeks when a group of 22 French and German companies set up a legal entity to run it.
Extraordinary general meeting due
BASF - Jefferies raises to ‘buy’ from ‘hold’
Dow Jones +1.1%, S&P 500 +0.8%, Nasdaq +0.6% at close.
Nikkei +1.0%, Shanghai stocks +0.5%.
Time: 4:18 GMT
* German May unemployment data due at 0755 GMT. Rate seen at 6.2%.
* German May Markit final PMI due at 0755 GMT. Services seen at 31.4, composite at 31.4
REUTERS TOP NEWS (Reporting by Berlin, Frankfurt and Gdansk newsrooms)