July 1, 2019 / 4:56 AM / 2 months ago

German stocks - Factors to watch on July 1

BERLIN/FRANKFURT, July 1 (Reuters) - The following are some of the factors that may move German stocks on Monday:

DEUTSCHE BANK

Deutsche Bank’s supervisory board will meet on July 7 to discuss a major restructuring that may result in as many as 20,000 job cuts, three people with knowledge of the matter said.

Separately, the bank plans to hire 300 more relationship and investment mangers for its wealth management business by 2021.

Fresenius Kabi USA

Fresenius’s U.S. unit Fresenius Kabi USA on Friday said it recalled an infusion system due to software anomalies, adding that it had not received any reports of adverse events related to the issue so far.

BASF

Swiss-based cement giant LafargeHolcim is looking into acquiring BASF’s construction chemicals division, according to a Bloomberg report.

GLOBAL FASHION GROUP

Global Fashion Group raised less than half the sum it had originally targeted in an initial public offering of new shares that drew weak investor demand and ended up being mostly backed by its existing shareholders.

OVERSEAS STOCK MARKETS

Dow Jones +0.3 pct, S&P 500 +0.6 pct, Nasdaq +0.5 pct at close.

Nikkei +2.0 pct, Shanghai stocks +1.9 pct.

Time: 4:56 GMT.

GERMAN ECONOMIC DATA

June jobless data due at 0755 GMT. Seasonally-adjusted umeployment rate seen flat at 5%.

DIARIES

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

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