German stocks - Factors to watch on May 28
FRANKFURT May 28 (Reuters) - The DAX top-30 index looked set to open 0.3 percent higher on Wednesday, according to premarket data from brokerage Lang & Schwarz at 0629 GMT.
The following are some of the factors that may move German stocks:
The insurer's Pacific Investment Management Co unit on Tuesday said it had rehired Paul McCulley, a former portfolio manager and top U.S. Federal Reserve watcher at the bond giant, the latest reshuffle after the high-profile departure of former chief executive Mohamed El-Erian.
Indicated 0.3 pct higher
The pharma company said it has submitted anti-clotting drug Xarelto for marketing authorisation in Japan for the treatment of deep vein thrombosis and pulmonary embolism.
Indicated 0.2 pct higher
Germany's Siemens hopes to submit a formal asset swap offer to France's Alstom by June 16 at the latest, in a deal that would create two European industry champions, the head of Siemens France said on Tuesday.
Separately, Siemens could sell a 50 percent stake in household goods company BSH to private equity or rival Samsung, if partner Bosch does not agree to buy it soon, German paper Frankfurter Allgemeine Zeitung said.
No indication available
Shareholders approved the name change to Airbus from EADS at the company's annual general meeting.
Down 2.8 pct in pre-market trading in Frankfurt
Permira is selling a 5.6 percent stake in Hugo Boss, the latest step by the private equity house to exit from its investment in the German fashion retailer. As a result of the placement, the free float of Hugo Boss AG will increase to around 48 percent of the share capital.
Down 4 pct in pre-market trading in Frankfurt
German lighting company Osram Licht on Tuesday said it could not meet its goal of revenue growth exceeding 3 percent in the fiscal year. Osram now expects revenues to either remain at last year's level, or to increase moderately for the current fiscal year.
Indicated 0.4 pct higher
The drug discovery company said it was buying anti-infectives company Euprotec for an initial 1.9 million pounds ($3.19 million) and a deferred payment of 1.25 million pounds. The deal will not affect its financial targets for 2014, it said on Wednesday.
The company released preliminary figures on May 12, saying earnings before interest, tax, depreciation and amortisation (EBITDA) increased 12.1 percent to 32 million euros ($43.57 million) on revenue of 150.4 million euros.
KOENIG & BAUER
Indicated 0.2 pct lower
The printing press manufacturer said Chief Financial Officer Axel Kaufmann would leave the company to pursue new professional challenges and said it had appointed Mathias Daehn to replace him.
No indication available
EnBW issued a 500 million euros bond to refinance its debt.
ANNUAL GENERAL MEETINGS
GRAMMER - 0.65 eur/shr proposed
KOENIG & BAUER - no dividend proposed
KUKA - 0.30 eur/shr proposed
QSC - 0.10 eur/shr proposed
VOSSLOH - 0.50 eur/shr dividend proposed
DEUTSCHE POST - 0.80 eur/shr dividend
PORSCHE - 2.01 eur/shr dividend
OVERSEAS STOCK MARKETS
Dow Jones +0.4 pct, S&P 500 +0.6 pct, Nasdaq +1.2 pct at Tuesday's close.
Nikkei +0.2 pct at Wednesday's close.
GERMAN ECONOMIC DATA
German import prices for April -0.3 pct m/m, -2.4 pct y/y.
German seasonally-adjusted ILO employment +34,000 in April.
May unemployment data due at 0755 GMT. Seasonally adjusted unemployment rate seen at 6.7 pct, unchanged from April.
EUROPEAN FACTORS TO WATCH