June 27, 2019 / 4:59 AM / 2 months ago

German stocks - Factors to watch on June 27

BERLIN/FRANKFURT, June 27 (Reuters) - The following are some of the factors that may move German stocks on Thursday:

BAYER

The German chemicals giant on Wednesday said its supervisory board has hired a lawyer and formed a committee to address glyphosate litigation as activist shareholder Elliott said it holds financial instruments and shares in Bayer worth 1.1 billion euros and sees potential to unlock value.

DEUTSCHE BANK

The German lender is close to reaching agreement about cutting 2,000 jobs as part of its integration of German lender Postbank, Handelsblatt reported, citing sources. Deutsche Bank declined to comment.

VOLKSWAGEN TRATON

The price for listing Traton has been narrowed to between 27 euros ($30.74) and 28 euros a share, the lower end of its earlier 27 euros to 33 euros price range, a bookrunner said on Wednesday.

EVONIK INDUSTRIES

German chemicals group Evonik is due to hold a news conference on its research and development activities.

TLG IMMOBILIEN

TLG on Wednesday revealed plans for a capital increase to finance growth and acquisitions. On Thursday it said shares were placed at a placement price of 26.13 euros per share, meaning gross issue proceeds amount to around 222 million euros.

ROCKET INTERNET

Rocket unit Global Fashion Group (GFG) on Wednesday cut the price of its planned initial public offering (IPO) to 4.50 euros ($5.12) a share in a last-ditch effort to salvage its stock market listing.

ANNUAL GENERAL MEETINGS

PORSCHE SE - 2.21 eur/shr dividend proposed

OVERSEAS STOCK MARKETS

Dow Jones unchanged, S&P 500 -0.1 pct, Nasdaq +0.3 pct at close.

Nikkei +0.9 pct, Shanghai stocks +0.9 pct.

Time: 4:58 GMT.

GERMAN ECONOMIC DATA

June preliminary inflation data due at 1200 GMT. CPI Seen +0.1% m/m, +1.4% y/y. HICP seen at +0.1% m/m, +1.3% y/y.

DIARIES

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

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