June 8, 2020 / 5:01 AM / a month ago

German stocks - Factors to watch on June 8

BERLIN/FRANKFURT, June 8(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 214 to 184,193, data from the Robert Koch Institute (RKI) for infectious diseases showed on Monday. The death toll rose by 6 to 8,674, the tally showed.

VOLKSWAGEN

Volkswagen is considering more cost cuts to help cope with the economic impact of the coronavirus pandemic, a spokesman for the German automaker said on Saturday.

LUFTHANSA

Lufthansa will bring home any Germans it flies abroad on vacation, CEO Carsten Spohr told the Frankfurter Allgemeine Sonntagszeitung, seeking to assuage holidaymakers’ concerns that a coronavirus outbreak while away could leave them stranded.

BMW

Magazine Automobilwoche on Saturday cited a BMW spokeswoman as saying all plants would be working in regular shifts again from mid-June. It said production was back to pre-crisis levels at the main plant in Munich, producing 1,000 vehicles a day. But it cited an internal letter to dealers as saying capacity was not sufficient to process all orders that were not handled during the coronavirus disruption from mid-March.

WIRECARD

Wirecard is cooperating with authorities investigating the German payments company over possible market manipulation, it said on Sunday as it reiterated its 2020 earnings outlook.

Prosecutors in Munich said on Friday they had searched Wirecard’s premises and opened proceedings against its management board as part of a market manipulation probe by BaFin, Germany’s financial regulator.

FRAPORT

Fraport Slovenia, a unit of Germany’s airport service provider Fraport which manages Slovenia’s main airport Ljubljana, plans to cut jobs due to the coronavirus pandemic, the company said on Friday.

DELIVERY HERO

Grubhub Inc has received takeover interest from at least two European companies, Delivery Hero SE and Just Eat Takeaway.com NV, CNBC reported on Friday, citing people familiar with the matter.

TUI

The tour operator’s airline TUIfly is seeking to cut around 1,000 jobs as part of a cost cut plan to halve its fleet of aircraft, three sources familiar with the matter told Reuters on Friday.

ANNUAL GENERAL MEETINGS

STRATEC 0.84 eur/shr dividend proposed

EX-DIVIDEND

DEUTSCHE WOHNEN - 0.90 euros/shr dividend

OVERSEAS STOCK MARKETS

Dow Jones +3.2%, S&P 500 +2.6%, Nasdaq +2.1% at close.

Nikkei +1.0%, Shanghai stocks +0.3%.

Time: 4:59 GMT

GERMAN ECONOMIC DATA

German April industrial production due at about 0600 GMT.

DIARIES

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

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