(Corrects Fiat Chrysler and Porsche identification codes)
BERLIN/FRANKFURT, June 26 (Reuters) - The following are some of the factors that may move German stocks on Wednesday:
European Central Bank
ECB Executive Board member Yves Mersch due to speak at ECB Legal Colloquium in Frankfurt at 0900 GMT.
Volkswagen’s sports-car brand Porsche has to recall almost 340,000 Cayenne and Panamera vehicles due to problems with their automatic transmission, the German company said on Tuesday.
Volkswagen and Fiat Chrysler could face penalties of up to 1.83 billion euros ($2.08 billion) and 746 million euros respectively, if they fail to meet the European Union’s emissions targets set for 2021, a study showed on Wednesday.
Deutsche Bank is facing multimillion-dollar losses within its U.S. investment banking unit after the German lender struggled to offload two risky corporate loans, the Financial Times reported on Tuesday.
ANNUAL GENERAL MEETINGS
Cancom - 0.50 eur/shr dividend proposed
Aroundtown - 0.25 eur/shr dividend proposed
Grand City Properties - 0.77 eur/shr dividend proposed
OVERSEAS STOCK MARKETS
Dow Jones -0.7 pct, S&P 500 -0.9 pct, Nasdaq -1.5 pct at close.
Nikkei -0.6 pct, Shanghai stocks -0.2 pct.
Time: 4:51 GMT.
GERMAN ECONOMIC DATA
July GfK consumer sentiment data due at 0600 GMT. Seen at 10.0 points.
EUROPEAN FACTORS TO WATCH
REUTERS TOP NEWS (Reporting by Berlin Speed Desk and Frankfurt Newsroom)
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