BERLIN/FRANKFURT, July 4 (Reuters) - The following are some of the factors that may move German stocks on Thursday:
Deutsche Bank is preparing to unveil a sweeping, multi-billion euro overhaul within days that would see the axe fall heaviest on investment bankers, sources familiar with the matter said on Wednesday.
Separately, German prosecutors are escalating a money laundering inquiry involving Deutsche Bank, including planned raids on wealthy former clients, a person with direct knowledge of the matter told Reuters.
Germany’s Verdi union has struck a new wage agreement with employers in the banking sector including overall pay hikes of 4% until the end of 2021, the union said on Thursday.
CEO Ola Kaellenius is due to hold a joint press conference with the heads of luxury carmaker Porsche AG and supplier giant Robert Bosch in Berlin.
The company holds an event to inform the public about its strategy regarding electric vehicles and the implications the shift to e-mobility has on supply chains.
Separately, Handelsblatt reported that Volkswagen’s supervisory board is scheduled to meet on Thursday, July 11, to approve the carmaker’s strategic partnership with Ford.
ZALANDO Europe’s leading online fashion retailer said it would build a 140,000 square metre warehouse near the Dutch port of Rotterdam to serve its customers in the Benelux countries, France, Spain and the United Kingdom.
German lighting group Osram’s supervisory board is convening an extraordinary meeting on Thursday to discuss a takeover offer from private equity firms Bain and Carlyle, sources close to the matter said.
The Wacker and Neunteufel families have announced that they would sell around 5.4% of shares in the company, reducing the stake the families hold to around 58%.
COMMERZBANK - JP Morgan cuts to “neutral” from “overweight”, removes stock from its top pick list
LUFTHANSA = RBC cuts to “sector perform” from “outperform”
Dow Jones +0.7 pct, S&P 500 +0.8 pct, Nasdaq +0.8 pct at close.
Nikkei +0.3 pct, Shanghai stocks -0.3 pct.
Time: 4:59 GMT.
No economic data scheduled.
REUTERS TOP NEWS (Reporting by Berlin Speed Desk and Frankfurt Newsroom)