German stocks - Factors to watch on March 24

FRANKFURT, March 24 Mon Mar 24, 2014 3:14am EDT

FRANKFURT, March 24 (Reuters) - The DAX top-30 index looked set to open 0.2 percent lower on Monday, according to premarket data from brokerage Lang & Schwarz at 0706 GMT.

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

BAYER

Indicated 0.5 percent lower

Britain's healthcare cost agency has recommended against using Bayer's new prostate cancer drug Xofigo on the state health service because the German firm did not provide evidence on how well it worked compared to other therapies.

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BMW

Indicated 1 percent higher

The luxury carmaker will soon announce plans to build its X7, a large crossover vehicle with three rows of seats, in South Carolina where its plant will undergo an upgrade to increase capacity up to 400,000 vehicles, costing several hundred million dollars, sources said on Friday.

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DEUTSCHE POST

Indicated 0.4 percent higher

Chief Executive Frank Appel is set to present a new profit target of up to 1.6 billion euros ($2.21 billion) for its mail business, German paper Welt am Sonntag said, citing a supervisory board source.

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LUFTHANSA, FRAPORT

Lufthansa indicated 1 percent lower

Fraport indicated 0.1 percent lower

Airline passengers could suffer considerable delays next Thursday as German services trade union Verdi extends strike calls in support of higher public sector pay to staff at Frankfurt airport.

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VOLKSWAGEN

Indicated 0.1 percent lower

The carmaker will not develop a successor model to its Eos convertible and may also not refresh the Sharan family van, the Beetle and the station wagon version of the Seat Leon to focus on more popular models, weekly Der Spiegel reported, without specifying its sources.

Separately, daily Handelsblatt cited the head of Geely-owned Volvo Car Group, Hakan Samuelsson, as saying that the carmaker would seek to gain market share in Germany mainly by winning over customers of VW's Audi unit.

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AIRBUS

No indication available in Frankfurt

Singapore's Tiger Airways Holdings Ltd has placed an order for 37 Airbus A320neo aircraft valued at $3.8 billion at list prices, taking delivery of the planes from 2018 to 2025, the carrier said in a statement on Monday.

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TALANX

No indication available

The insurer raised its dividend and confirmed its 2014 outlook after comfortably beating analyst expectations and its own net profit target for 2013, helped by lower taxes.

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TUI

Indicated 0.7 percent lower

Shareholders of Chilean shipper Compania SudAmericana de Vapores on Friday approved an agreement that combines its container-shipping operations with those of Germany's Hapag-Lloyd, though dissident stakeholders could still kill the deal in the next month.

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EVOTEC

Indicated 0.7 percent higher

The biotech company said on Monday it agreed to buy all shares in German asset management company Bionamics GmbH for cash and future milestone payments. It did not disclose financial details on the deal.

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LPKF LASER & ELECTRONICS

Indicated 0.4 percent higher

The electronics group said on Monday it was optimistic about the future even after a muted start to the year, affirming its 2014 outlook for revenue of 132-140 million euros.

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MANZ

Indicated 0.1 percent higher

The engineering company is in talks with potential takeover targets to strengthen its Battery division, CEO Dieter Manz told weekly Euro am Sonntag.

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NORDEX

Indicated 1 percent higher

Final 2013 results due. The German wind turbine maker said last month it had swung to an operating profit last year, boosted by stronger demand in its core European market as well as cost cuts.

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SMA SOLAR

Indicated 1 percent higher

CEO Pierre-Pascal Urbon reiterated he aims for the solar inverter maker to break even this year, according to weekly WirtschaftsWoche.

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AIR BERLIN

Indicated 9.9 percent higher

The ailing airline, which is almost 30 percent owned by Abu Dhabi-based Etihad Airways, will be delisted, with Etihad raising its stake to 49.9 percent, German weekly WirtschaftsWoche reported on Saturday.

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SIXT

Indicated 0.5 percent higher

Q4 results due. The car rental firm is expected to report its quarterly earnings before interest and tax (EBIT) rose 19 percent to 30 million euros. Poll:

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LOEWE

Up 13.9 percent in early Frankfurt trade

Munich-based financial investor Stargate Capital said late on Friday it agreed to buy insolvent German television maker Loewe. Loewe said the purchase price was in a high single-digit million euro range.

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INDEX CHANGES AS OF MARCH 24:

TECDAX

IN: MANZ AG

OUT: ADVA AG

SDAX

IN: SURTECO, CAPITAL STAGE

OUT: H&R AG, VTG AG

EX-DIVIDEND

Villeroy & Boch - dividend 0.42 euros/shr

ANALYSTS' VIEWS

COMMERZBANK - Morgan Stanley raises the stock to "overweight" from "equal-weight", lifts its target price to 16 euros from 11.80 euros.

OVERSEAS STOCK MARKETS

Dow Jones -0.2 pct, S&P 500 -0.5 pct, Nasdaq -1 pct at Friday's close.

Nikkei +1.8 pct at Monday's close.

GERMAN ECONOMIC DATA

German March Markit flash PMI due at 0830 GMT. Manufacturing PMI seen at 54.6, down from 54.8. Services PMI seen at 55.5, down from 55.9 in the previous month.

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS ($1 = 0.7256 Euros) (Reporting by Harro ten Wolde, Ludwig Burger, Edward Taylor and Maria Sheahan)

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