June 19, 2020 / 4:29 AM / 19 days ago

German stocks - Factors to watch on June 19

BERLIN/FRANKFURT, June 19(Reuters) - The following are some of the factors that may move German stocks on Friday:

CORONAVIRUS

Asian shares and U.S. stock futures wobbled in choppy trade as lingering concerns about an fresh spike in coronavirus cases offset growing hopes for a quick economic recovery.

The European Commission is in advanced talks with pharmaceuticals giant Johnson & Johnson to reserve or make an up-front purchase of its COVID-19 vaccine under development, two officials familiar with the talks told Reuters.

German reported bit.ly/3dgJLrQ 770 new cases and 16 more deaths.

LUFTHANSA KNORR BREMSE

The airline’s biggest shareholder, billionaire Heinz Hermann Thiele, has reached out to Berlin politicians for talks, Handelsblatt said, the latest step in a standoff over the airline’s 9 billion euro bailout.

Thiele, who has amassed a 15% Lufthansa stake, is also selling down 760 million euros worth of shares in rail and commercial vehicle supplier Knorr-Bremse

WIRECARD

Wirecard appointed James Freis as management board member for compliance, replacing board member Jan Marsalek with immediate effect.

The company said it may be the victim of “fraud of considerable proportions”, after its auditor refused to sign off its 2019 accounts over a missing $2.1 billion.

E.ON

The group’s Innogy unit said it is selling a wood pellet plant in the U.S. for $175 million.

TUI

The tour operator’s TUIfly airline unit said it will halve the size of its aircraft fleet as part of a restructuring, which has been accelerated by the coronavirus crisis, confirming an earlier Reuters report.

CUREVAC

German billionaire and CureVac investor Dietmar Hopp told Mannheimer Morgen newspaper that the country lacked functioning capital markets and an ecosystem that nurtures biotech companies.

CureVac is working with Bank of America and Jefferies Financial on its U.S. initial public offering, Bloomberg reported.

IPO

PharmaSGP announced its offer price is 31.50 euros per share and will likely begin trading on Friday.

ANNUAL GENERAL MEETINGS

DEUTSCHE TELEKOM - 0.60 eur/shr dividend proposed

NEMETSCHEK - 0.28 eur/shr dividend proposed

CTS EVENTIM - no dividend proposed

ZEAL NETWORK - 0.80 eur/shr dividend proposed

EX-DIVIDEND

BASF - 3.30 euros/shr dividend

SCOUT24 - 0.91 euros/shr dividend

BEFESA - 0.44 euros/shr dividend

ANALYSTS’ VIEWS

DEUTSCHE POST - Credit Suisse raises to ‘neutral’ from ‘underperform’

ECONOMY

German May producer prices due at about 0600 GMT. Seen -0.3 m/m, -2.1 y/y

DIARIES

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

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