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The German government will propose extending social distancing measure until May 3rd in the base-case scenario, Reuters reported on Wednesday, citing a draft document.

Additional takeaways

“Government proposes keeping the mandatory requirement of 1.5 meters distance between people not living in the same household.”

“Government proposes giving priority to reopening school for students in final year of primary and secondary school starting from May 4.”

“Government proposes allowing shops with an area of up to 800 sq. meters to reopen, as well as all car dealerships.”

“Government calls to extend the ban on all religious gatherings.”

“Government calls on citizens to abstain from private travel and visits to relatives.”

“Government proposes extending global travel warnings.”

Market reaction

Germany’s DAX 30 Index stays under pressure on Wednesday and was last seen erasing 2.1% on a daily basis.