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Funds News

German stocks - Factors to watch on October 28

BERLIN/FRANKFURT, Oct 28(Reuters) - The following are some of the factors that may move German stocks on Wednesday:

CORONAVIRUS

German Chancellor Angela Merkel wants to agree at a meeting with leaders of the states on Wednesday to close all restaurants and bars from Nov. 4 in a bid to curb coronavirus infections but keep schools and nurseries open, newspaper Bild reported.

DAIMLER

Aston Martin on Tuesday expanded a deal with Daimler to access the German automaker’s technology, including its hybrid and electric drive systems, in exchange for new shares as the struggling British luxury carmaker’s new boss drives changes.

As Tesla touts the cutting-edge nature of its new Full Self Driving software, rival Mercedes-Benz says it has developed a similar system but stops short of allowing members of the public to take it on urban roads.

BAYER

The U.S. Environmental Protection Agency (EPA) announced a new 5-year registration for Bayer’s dicamba product XtendiMax, the company said on Tuesday.

IPO

Online luxury bags retailer Fashionette AG on Tuesday set offer price for initial public offering at 31.00 euros per share.

DEUTSCHE BOERSE

Third quarter results due.

DEUTSCHE BANK

Third quarter results due.

BEIERSDORF

Nine months results due.

BASF

Third quarter results due.

PUMA

Third quarter results due.

CANCOM

The IT service management company said it expects a “very significant” decline in EBITA, rather than a previously expected “moderate increase”.

DELIVERY HERO

Third quarter results due.

QIAGEN

The company, which makes products used in coronavirus testing, raised its full-year outlook after a strong nine months and expectations for robust sales in the fourth quarter.

ROCKET INTERNET

The German tech investment said its delisting will be effective at the end of Friday.

TELEFONICA DEUTSCHLAND

Third Quarter Results due.

DIC ASSET

Third quarter results due.

ANALYSTS’ VIEWS

COVESTRO AG: CREDIT SUISSE RAISES TARGET PRICE TO EUR 50 FROM EUR 49

1&1 DRILLISCH AG: HSBC CUTS TARGET PRICE TO EUR 17 FROM EUR 21

UNITED INTERNET AG: HSBC CUTS TARGET PRICE TO EUR 34 FROM EUR 36

OVERSEAS STOCK MARKETS

Dow Jones -0.8%, S&P 500 -0.3%, Nasdaq +0.6% at close.

Nikkei -0.3%, Shanghai stocks +0.4%.

Time: 5:46 GMT

GERMAN ECONOMIC DATA

German September import prices due at 0700 GMT. Seen -0.3% m/m, -4.8% y/y.

DIARIES

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

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