March 11, 2020 / 5:18 AM / 21 days ago

German stocks - Factors to watch on March 11

BERLIN/FRANKFURT, March 11 (Reuters) - The following are some of the factors that may move German stocks on Wednesday:

CORONAVIRUS

China reported an uptick in new confirmed cases of coronavirus infections, reversing four straight days of fewer new cases, driven by infected individuals arriving from abroad.

As U.S. coronavirus cases are rising steadily, the White House and Congress negotiated measures to bolster the U.S. economy and Americans’ paychecks against the outbreak’s impact, although there was no immediate sign of a deal.

Asian shares and Wall Street futures fell as growing scepticism about Washington’s stimulus package to fight the coronavirus outbreak knocked the steam out of an earlier rally.

A group of six leading German economists has “urgently discouraged” the government from sticking to its budget policy of not taking on new debt, Handelsblatt reported.

A delay of one or two years would be the “most feasible” option if the Tokyo Olympics cannot be held this summer due to the global outbreak of the coronavirus, a member of the organising committee’s executive board has told Reuters.

ADIDAS

2019 results due. Net profit seen at 1.94 billion euros. Poll:

ALLIANZ

The insurance company said that its Pimco unit will now oversee Allianz Real Estate.

DEUTSCHE BOERSE

The stock exchange operator will temporarily allow traders at the Frankfurt Stock Exchange to trade off-site as a measure to prevent the spread of the coronavirus.

AIR FREIGHT

Air freight rates are skyrocketing after the grounding of many passenger flights in Asia has left shippers scrambling to book limited spots on cargo planes as Chinese industrial production restarts, according to industry insiders.

KNORR BREMSE

Preliminary 2019 results due

HOCHTIEF

The company's Australian unit Cimic announced its UGL division has been awarded rail contracts worth A$180 million. bit.ly/2W4ECye

HANNOVER RUECK

2019 results due. Net profit seen at 1.28 billion euros. Poll:

LANXESS

2019 results due. Net profit seen at 359 million euros. Poll:

OVERSEAS STOCK MARKETS

Dow Jones +4.9%, S&P 500 +4.9%, Nasdaq +5.0% at close.

Nikkei -1.4%, Shanghai stocks +0.2%.

Time: 5:17 GMT

ECONOMY

No major German economic data scheduled

DIARIES

REUTERS TOP NEWS (Reporting by Berlin Speed Desk and Frankfurt Newsroom)

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