July 3, 2019 / 5:23 AM / 15 days ago

German stocks - Factors to watch on July 3

BERLIN/FRANKFURT, July 2 (Reuters) - The following are some of the factors that may move German stocks on Wednesday:

BAYER

A U.S. judge on Tuesday said he would reduce an $80 million damage award against Bayer to $50 million or less in the case of a man who blamed his cancer on glyphosate-based weed killer Roundup.

DEUTSCHE BANK

Deutsche Bank has held talks with Citigroup Inc , BNP Paribas SA and others that could involve transferring parts of its equities business, including operations that serve hedge funds and other big trading customers, the Wall Street Journal reported on Tuesday.

DEUTSCHE TELEKOM

Dish Network Corp and T-Mobile US are nearing a deal with the U.S. Department of Justice on a hosting agreement that would push Dish as a new U.S. wireless competitor, CNBC reported on Tuesday.

German newspaper Handelsblatt cited company sources as saying that Deutsche Telekom wants to reduce the number of branches it has to 460 from around 500 currently. It plans to cut around 1,200 out of 4,500 jobs, the newspaper reported. It said management wanted to clarify the final details and timeline in discussions with the works council due to start soon.

BMW

BMW Group in America said on Tuesday sales of BMW brand vehicles increased by 7.5% in June 2019 to 31,627 vehicles, up from 29,407 vehicles sold in June 2018.

DAIMLER

Mercedes-Benz maker Daimler said on Tuesday that Mercedes-Benz USA had sold 26,196 vehicles in June - five more than in June 2018.

VOLKSWAGEN

Volkswagen unit Porsche boosted U.S. sales by 2.8% to 30,257 cars in June.

OVERSEAS STOCK MARKETS

Dow Jones +0.3 pct, S&P 500 +0.3 pct, Nasdaq +0.2 pct at close.

Nikkei -0.8 pct, Shanghai stocks -0.8 pct.

Time: 5:18 GMT.

GERMAN ECONOMIC DATA

German Markit final PMI due at 0755 GMT. Services seen at 55.6, composite index seen at 52.6.

DIARIES

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

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