March 18, 2020 / 5:31 AM / 24 days ago

German stocks - Factors to watch on March 18

BERLIN/FRANKFURT, March 18 (Reuters) - The following are some of the factors that may move German stocks on Wednesday:

CORONAVIRUS

Italy’s prime minister declared coronavirus was causing a “socio-economic tsunami” as European leaders agreed to seal off external borders, but many countries thwarted solidarity by imposing frontier curbs of their own.

Robert Koch Institute said the number of confirmed cases in Germany had risen by more than 1,100 to 7,156 with 13 deaths.

Imported coronavirus cases in China outnumbered cases of location transmission for the fifth straight day as infected travellers passed through major Chinese transportation hubs in Beijing, Shanghai, Guangzhou and Shenzhen.

ADIDAS

The sportswear maker joined rivals in announcing store closures in response to the coronavirus pandemic.

BMW

Annual report due. The carmaker last week said its 2019 operating profit fell 17% but record demand for SUVs helped offsetting higher research and development spending.

FRESENIUS

Annual report due. The healthcare group said in February it expects net income to increase in 2020 after strong growth in its dialysis business.

MUNICH RE

Annual report due. The company said in February net profit fell 8.7% in the fourth quarter amid losses from natural catastrophes.

QIAGEN

The molecular testing company said it would ramp up its global capacity to produce certain kits used to test for the new coronavirus, aiming to support more than 6.5 million tests a month by the end of April.

TELECOMS

Some European telecoms operators reported connectivity problems on Tuesday as millions of people logged on for work at home due to the coronavirus pandemic, driving up data traffic by as much as 30% and testing networks.

AIRBUS

The United States is expected to proceed with a 50% increase in U.S. tariffs on Airbus planes, U.S. and European officials say.

RHEINMETALL

Annual report due. The defence and automotive parts group earlier this month reported record sales and operating profit, driven by its military division.

DEUTZ

Annual report due. The diesel engine manufacturer earlier this month said revenue in 2019 amounted to 1.84 billion euros.

HEIDELBERGER DRUCKMASCHINEN

The group said it has taken cost cutting measures that could result in up to 2,000 job cuts and site closures.

JUNGHEINRICH

2019 results due

STABILUS

The group issued a sales and profit warning.

WASHTEC

Annual report due. The company in February said full-year revenue was stable at 436.5 million euros.

ANALYSTS’ VIEWS

SIEMENS HEALTHINEERS - Credit Suisse raises to outperform from neutral

BEIERSDORF - Jefferies raises to hold from underperform

OVERSEAS STOCK MARKETS

Dow Jones +5.2%, S&P 500 +6.0%, Nasdaq +6.2% at close.

Nikkei +0.8%, Shanghai stocks +0.6%.

Time: 5:28 GMT

ECONOMY

No major German economic data scheduled

DIARIES

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

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