May 12, 2020 / 4:12 AM / 19 days ago

German stocks - Factors to watch on May 12

BERLIN/FRANKFURT, May 12 (Reuters) - The following are some of the factors that may move German stocks on Tuesday:

CORONAVIRUS

The World Health Organization said that “extreme vigilance” was needed as countries begin to exit from lockdowns imposed to curb the spread of the new coronavirus, amid global concerns about a second wave of infections.

Asian shares skidded on growing worries about a second wave of coronavirus infections after the Chinese city where the pandemic originated reported its first new cases since its lockdown was lifted.

Germany reported 933 new coronavirus cases while the number of recorded deaths rose by 116. The Robert Koch Institute for public health said the virus’ reproduction rate hovered above the critical threshold of 1 for the third consecutive day with an estimated value of 1.07.

ALLIANZ

Detailed Q1 results due. The insurance group last month reported a preliminary 30% drop in first-quarter net profit and abandoned its profit target for the full year, blaming economic uncertainty amid the coronavirus outbreak.

AIRLINES

EU airlines and travel companies should offer vouchers for flights and holidays cancelled due to the coronavirus that are valid for at least 12 months, the European Commission says in recommendations to help revive travel and tourism in Europe.

E.ON

Q1 results due

DEUTSCHE POST

Q1 results due

PROSIEBENSAT.1 MEDIA

Private equity house KKR said it had acquired a stake of 5.2% in the company, becoming the third investor to amass a sizable shareholding in the struggling broadcaster.

DELIVERY HERO

The food delivery company said it would issue up to 947,591 new shares, representing 0.5% of the registered share capital.

AAREAL BANK

Q1 results due

HOCHTIEF

Q1 results due

TEAMVIEWER

Q1 results due

THYSSENKRUPP

Fiscal H1 results due

ECKERT & ZIEGLER

Q1 results due

SNP SCHNEIDER

The company said former Siemens CEO Klaus Kleinfeld will cease to be a member of the supervisory board with immediate effect.

CEWE STIFTUNG

Q1 results due

HAMBURGER HAFEN UND LOGISTIK (HHLA)

Q1 results due

STROEER

Q1 results due

ANALYSTS’ VIEWS

BASF - Fitch downgrades to ‘A’; outlook stable

OVERSEAS STOCK MARKETS

Dow Jones -0.5%, S&P 500 unchanged, Nasdaq +0.8% at close.

Nikkei -0.3%, Shanghai stocks -0.6%.

Time: 4:09 GMT

ECONOMY

* No major German economic data scheduled

* The European Commission is unlikely to take immediate legal action against Germany over a ruling by the country’s top court that the European Central Bank has overstepped its mandate with its bond purchases, European Union officials said.

DIARIES

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

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