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July 1

July 1

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FRANKFURT, July 1 (Reuters) - Factors that may move German stocks on Wednesday: DEUTSCHE BANK Deutsche Bank earned $233 million in underwriting fees in Q2 taking the total in the first half of the year to $345.8 million, according to Thomson Reuters data.

Related news BAYER A U.S.

FDA panel of experts called for greater restrictions on the pain reliever acetaminophen, even recommending banning some medications that contain it, in a bid to prevent potentially fatal overdoses.

Makers of acetaminophen, or products that contain it, include Bayer, GlaxoSmithKline, Novartis, Perrigo Co, Procter & Gamble, Schering-Plough and Wyeth.

Related news DEUTSCHE TELEKOM Greek OTE, in which Deutsche Telekom holds a 25-percent stake, agreed to buy Romania's third-largest mobile phone operator Zapp for 207 million euros, including debts.

E.ON CEO Wulf Bernotat expects to see an upturn in energy demand in the next quarter, the Financial Times said.

Bernotat said in an interview, however, that the upturn will be slow.

Related news LUFTHANSA The European Commission wants Austrian Airlines to shrink its business by 20 percent before it could allow a takeover by Lufthansa, Austrian newspaper Der Standard said.

Related news HYPO REAL ESTATE Hypo Real Estate will make a loss of more than 2 billion euros by the end of 2010, German newspaper Sueddeutsche Zeitung said, citing sources close to German rescue fund SoFFin and in the financial industry.

Related news EX-DIVIDEND Deutsche Euroshop, payout 1.05 eur/shr ANNUAL GENERAL MEETINGS Indus Holding, proposed dividend 0.8 eur/shr OVERSEAS STOCK MARKETS Dow Jones -1.0 pct, S&P 500 -0.9 pct, Nasdaq -0.5 pct.

Nikkei +1.0 pct at 0525 GMT GERMAN BAD BANKS The ECB said it had no objections to Germany's plans to carve off the toxic assets of its banks into special government backed bad banks.

Plans to dump toxic loans into specially created vehicles are due be finalised by the country's lawmakers on Friday.

GERMAN ECONOMIC DATA May retail sales due at 0600 GMT; seen at -0.1 pct mth/mth, -1.1 pct yr/yr (real terms).

June manufacturing PMI due at 0753 FMT; seen at 40.5 vs 39.6 in May.

GERMAN PRE-ELECTION POLITICS Chancellor Angela Merkel and her conservatives are lying to the German people by promising tax cuts at a time when Berlin is spending billions of euros to support the economy, former Chancellor Gerhard Schroeder said.

In an interview less than three months before a federal election, Schroeder said he expected the pledge of tax relief to come back to haunt the conservatives.

For a FACTBOX on European stock market performance in H1, see For Reuters polls on global stock markets, see European Factors to watch Diaries Reuters Top News (Reporting by Edward Taylor and Peter Starck) ([email protected]; +49 69 7565 1217; Reuters Messaging: [email protected])COPYRIGHTCopyright Thomson Reuters 2009.

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