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German stocks - Factors to watch on May 5

BERLIN/FRANKFURT, May 5 (Reuters) - The following are some of the factors that may move German stocks on Tuesday:

CORONAVIRUS

Germany’s state premiers will agree on measures to further ease coronavirus restrictions in a teleconference with Chancellor Angela Merkel scheduled for Wednesday, two people familiar with the preparations told Reuters.

Germany’s extensive bailouts of coronavirus-hit companies can work as a locomotive for Europe, the EU’s competition chief said amid criticism from other, less wealthy EU countries about what they see as an unfair edge given to German firms.

Global coronavirus deaths rose past a quarter of a million after infections topped 3.5 million, a Reuters tally of official government data showed. The number of confirmed coronavirus cases in Germany rose by 685 to 163,860 while the number of deaths increased by 139 to 6,831.

Asian stocks rose, tracking a late Wall Street rally as governments eased coronavirus lockdowns while oil extended gains on expectations fuel demand would begin to pick up.

INFINEON TECHNOLOGIES

The chipmaker said that it expects sales to decrease by 5% in the fiscal year to Sept. 30 due to the impacts of the coronavirus pandemic, comparing to an original target of a 5% increase. It also announced its financial results for fiscal Q2.

SAP

The company said it had found that some of its cloud products did not meet contractually agreed or statutory security standards but it did not believe customer data had been compromised as a result. “The expenses related to the remediation are expected to be covered within the range of SAP’s current 2020 financial outlook,” it said.

Swedish cloud communications company Sinch said it would acquire SAP Digital Interconnect (SDI) for 225 million euros.

BEIERSDORF

Q1 results due

VONOVIA

Q1 results due

DEUTSCHE PFANDBRIEFBANK

The lender withdrew its 2020 forecast, pointing to the macroeconomic environment and the real estate market.

ALSTRIA OFFICE

The real estate company confirmed its 2020 guidance for revenues and operating result but cautioned that adjustments cannot be ruled out in the course of the year.

GRENKE

Q1 results due

HELLOFRESH

Q1 results due

HUGO BOSS

Q1 results due. Earnings poll:

SIEMENS HEALTHINEERS

Fiscal Q2 results due

PFEIFFER VACUUM

Q1 results due

STRATEC

The diagnostic company said it is raising its 2020 guidance for sales growth. “In connection with the COVID-19 pandemic, STRATEC is currently observing significantly positive and slightly negative effects in terms of customer orders and order forecasts,” it added.

HAMBORNER REIT

Q1 results due

LPKF

Q1 results due

ANNUAL GENERAL MEETINGS

DEUTSCHE LUFTHANSA - no dividend proposed

FUCHS PETROLUB - 0.97 eur/shr dividend proposed

OVERSEAS STOCK MARKETS

Dow Jones +0.1%, S&P 500 +0.4%, Nasdaq +1.2% at close.

Japanese markets closed, Chinese markets closed.

Time: 4:38 GMT

ECONOMY

* No major German economic data scheduled

* Germany’s Constitutional Court will rule on the legality of the European Central Bank’s bond purchases, settling an existential challenge to a scheme credited with keeping the euro zone afloat during crises including the coronavirus pandemic.

DIARIES

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

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