June 9, 2020 / 4:23 AM / 2 months ago

German stocks - Factors to watch on June 9

BERLIN/FRANKFURT, June 9 (Reuters) - The following are some of the factors that may move German stocks on Tuesday:

CORONAVIRUS

New coronavirus cases had their biggest daily increase ever as the pandemic worsens globally and has yet to peak in central America, the World Health Organization said, urging countries to press on with efforts to contains the virus.

Asian stocks rallied for their ninth straight day and oil prices jumped as the lifting of coronavirus lockdowns in many countries fed investor hopes of a relatively quick global economic recovery.

Germany reported 252 more coronavirus cases and 16 new deaths.

VOLKSWAGEN

The carmaker replaced Herbert Diess as chief executive of the VW brand and installed chief operating officer Ralf Brandstaetter to lead cost cutting efforts at the company’s largest plants in Germany.

LUFTHANSA

Austria confirmed it is granting Lufthansa’s Austrian Airlines unit a 450 million euro bailout that will protect Vienna as a transit hub and safeguard “the bulk” of the flag carrier’s 7,000 jobs.

BAYER

The U.S. Environmental Protection Agency said that farmers can use supplies of dicamba-based weed killers they had on hand as of June 3, after a federal court blocked sales and use of the product last week. It is sold by Bayer and rivals.

PROSIEBENSAT.1 MEDIA

A group of investors led by Czech billionaire Daniel Kretinsky has raised its stake in the company to more than 12%, Sueddeutsche Zeitung reported.

TELEFONICA DEUTSCHLAND

The company has signed a deal to sell thousands of phone masts for 1.5 billion euros, the latest move by a telecom operator to generate cash from its assets in preparation for investment in next-generation 5G internet.

ANNUAL GENERAL MEETINGS

HYPOPORT - no dividend proposed

INSTONE REAL ESTATE - no dividend proposed

OVERSEAS STOCK MARKETS

Dow Jones +1.7%, S&P 500 +1.2%, Nasdaq +1.1% at close.

Nikkei -0.9%, Shanghai stocks +0.5%.

Time: 4:19 GMT

ECONOMY

German April trade data due at 0600 GMT. Exports seen -15.6% m/m, imports -16.0% m/m, trade balance at 10.0 bln eur

DIARIES

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

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