June 26, 2019 / 4:56 AM / 8 months ago

CORRECTED-German stocks - Factors to watch on June 26

(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.

PORSCHE

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

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

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.

DIARIES

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

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