German stocks - Factors to watch on March 12

FRANKFURT, March 12 Wed Mar 12, 2014 3:20am EDT

FRANKFURT, March 12 (Reuters) - The DAX top-30 index looked set to open 0.7 percent lower on Wednesday, according to premarket data from brokerage Lang & Schwarz at 0617 GMT.

The following are some of the factors that may move German stocks:

ALLIANZ

Indicated 0.4 pct lower

The Pimco Total Return Fund, the world's largest bond fund, slashed its holdings of mortgages in February to the lowest level since at least late 2011 on bets that the Federal Reserve will conclude bond purchases this year, data from the firm's website showed on Tuesday.

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BAYER

Indicated 0.2 pct lower

German drugmaker Bayer said on Wednesday it aims to increase its pharmaceuticals sales by 8 percent annually on average until 2016, adjusted for currency and portfolio effects, on the back of newly launched drugs.

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DEUTSCHE POST

Indicated 0.6 pct higher

Deutsche Post reported a 7 percent rise in operating profit in the fourth quarter, beating estimates, partly boosted by its parcel business and strong growth in its international courier Express division.

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E.ON

Indicated 1.3 pct higher

Germany's No.1 utility slashed its dividend and said it expected core profit to decline in 2014 for the third year in a row, adding it saw no end to a sector crisis that has eroded profits at its gas and coal plants.

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SIEMENS

Indicated 0.7 pct lower

The technology group has hired a bank to seek potential buyers for its microbiology business, which could fetch $300- $600 million, Bloomberg reported citing sources.

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VOLKSWAGEN

Indicated 0.4 pct lower

Anti-union Volkswagen workers will get a chance to defend the results of a mid-February union election that the United Auto Workers lost at a Chattanooga, Tennessee VW plant, the U.S. National Labor Relations Board has decided.

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DMG MORI SEIKI

Indicated 0.6 pct lower

The cutting machine tool maker, formerly known as Gildemeister, is expected to report its fourth-quarter EBIT rose 18.3 percent to 58.7 million euros. Poll:

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FRAPORT

Indicated 0.4 pct lower

The airport operator said passenger numbers at Frankfurt airport rose 1.8 percent in February.

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MAN SE

Indicated unchanged

The truckmaker may post a "distinctly higher" operating profit this year than in 2013 when earnings plunged by half on costs of a failed power-plant project.

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DRAEGERWERK

Indicated 0.1 pct lower

Q4 results due. The medical safety technology company is expected to report its fourth-quarter net profit fell 16.7 percent to 50.9 million euros. Poll:

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GFK

Indicated 0.3 pct lower

The market research group is due to report full 2013 results.

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ANALYSTS' VIEWS

GERRESHEIMER - Goldman Sachs cuts to 'sell' from 'buy', target price to 45 euros from 64.8 euros

OVERSEAS STOCK MARKETS

Dow Jones down 0.4 pct, S&P 500 down 0.5 pct, Nasdaq down 0.6 pct at Tuesday's close.

Nikkei closes down 2.6 pct.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Ludwig Burger and Victoria Bryan)