April 3, 2018 / 5:17 AM / 23 days ago

German stocks - Factors to watch on April 3

BERLIN/FRANKFURT, April 3 (Reuters) - The following are some of the factors that may move German stocks on Tuesday:

DEUTSCHE BANK

Large investors in Deutsche Bank have urged its chairman Paul Achleitner to provide a clear signal on whether the board backs the lender’s embattled chief executive or not, sources close to the matter told Reuters on Thursday.

Achleitner is considering making Juerg Zeltner, the former head of the wealth management business of Swiss bank UBS , the successor to Chief Executive John Cryan, Spiegel magazine reported on Friday.

VOLKSWAGEN

A London court has indicated that it will give the green light to a group lawsuit by around 60,000 English car owners against Volkswagen, Europe’s largest carmaker, over the “dieselgate” scandal.

A prominent Volkswagen shareholder is urging investors to vote against the reelection of Wolfgang Porsche as a member of the carmaker’s supervisory board at its annual general meeting (AGM), Frankfurter Allgemeine Sonntagszeitung reported on Sunday.

Separately, premium brand Audi aims to double sales in China over the coming six years, sales chief Bram Schot told Automobilwoche.

OSRAM

Osram aims to expand its partnerships with startups to become a leading supplier of optical distance and speed measuring technology for self-driving cars, Chief Technology Officer Stefan Kampmann told Automobilwoche.

OVERSEAS STOCK MARKETS

US markets closed.

Nikkei -0.5 pct, Shanghai stocks -1 pct.

Time: 5.13 GMT.

GERMAN ECONOMIC DATA

German February retail sales due at 0600 GMT.

German Markit manufacturing PMI due at 0755 GMT.

DIARIES

REUTERS TOP NEWS (Reporting by Emma Thomasson, Victoria Bryan, Tom Sims and Maria Sheahan)

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