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BERLIN/FRANKFURT, April 6(Reuters) – The following are some of the factors that may move German stocks on Monday:
CORONAVIRUS
Germany’s confirmed coronavirus infections rose by 3,677 in the past 24 hours to 95,391 on Monday, the fourth straight drop in the daily rate of new cases, according to data from the Robert Koch Institute for infectious diseases.
S&P said it anticipates that Germany’s real gross domestic product (GDP) will decline by 1.9% in 2020 due to Coronavirus.
Export expectations in Germany’s car sector have fallen to their lowest level since March 2009, when Europe’s largest economy was in the throes of the global financial crisis, Germany’s Ifo institute said on Monday.
ALLIANZ
The insurer does not expect to post record profits this year, chief executive Oliver Baete told Germany’s Der Spiegel adding that 2020 will be “no laughing matter.”
VOLKSWAGEN
Chief Executive Herbert Diess told Die Welt newspaper that he not think Volkswagen needed state aid due to the coronavirus crisis. He said he could not say whether a profit warning would be necessary. If the crisis was overcome as quickly as in China, Volkswagen would get off lightly, he said, but added that if the shutdown continued for months, “it will be difficult”.
COMMERZBANK, DEUTSCHE BANK
German banks should refrain from paying dividends given the economic turmoil triggered by the coronavirus pandemic, the head of markets regulator Bafin told the Frankfurter Allgemeine Sonntagszeitung newspaper. Commerzbank and its subsidiary Comdirect have registered 130,000 new private customers since the beginning of the year, Board Member Michael Mandel told daily “Handelsblatt”, adding that the bank saw a growth of more than 10,000 new customers in the last week of March alone.
LUFTHANSA
Chief Financial Officer Ulrik Svensson resigned for health reasons.
TRATON
CEO Andreas Renschler told Frankfurter Allgemeine Sonntagszeitung that members of the truck maker’s management had contracted the coronavirus and that he had gone into quarantine. He has no symptoms so far, he told the paper.
PROSIEBEN
Italy’s biggest commercial broadcaster Mediaset MS.MI is seeking approval from Germany’s competition authority for its recently increased stake in German rival ProsiebenSat.1 PSMGn.DE, the watchdog’s website shows.
METRO
The retail giant late on Friday withdrew its guidance for the financial year 2019/20 due to the expected negative impact of the coronavirus on sales and earnings in the second half of the year.
DIC ASSET
Tenants representing a monthly rental volume of 1.5 million euros have indicated need to suspend their rental payments, forcing the real estate company to adjust its outlook.
UNIPER
Supervisory Board Chairman Bernhard Reutersberg has resigned, the company said on Friday, a reshuffle which was engineered by Fortum after the Finnish investor secured a 69.6% stake in the German energy group.
AAERAL BANK
The lender said it would not pay a dividend to comply with the European Central Bank’s recommendation on dividend policy, adding that it would re-assess the situation after Oct. 1, 2020.
Evotec
Evotec said it was expanding into gene therapy by establishing a gene therapy research and development site in Austria.
Separately, the company said it had entered a multi-year gene therapy research alliance with Takeda.
ANALYSTS’ VIEWS
SAP SE: CREDIT SUISSE CUTS TARGET PRICE TO EUR 120 FROM EUR 144
FRAPORT: CREDIT SUISSE CUTS TARGET PRICE TO EUR 39 FROM EUR 73
OVERSEAS STOCK MARKETS
Dow Jones -1.7%, S&P 500 -1.5%, Nasdaq -1.5% at close.
Nikkei +2.8%, Chinese markets closed.
Time: 5:41 GMT
GERMAN ECONOMIC DATA
German February industrial orders due at 0600 GMT. Seen -2.4% m/m.
DIARIES
REUTERS TOP NEWS
Reporting by Berlin Speed Desk and Frankfurt Newsroom
Our Standards: The Thomson Reuters Trust Principles.
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