German stocks - Factors to watch on May 28

FRANKFURT Wed May 28, 2014 2:36am EDT

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:

ALLIANZ

Indicated unchanged

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.

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BAYER

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.

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SIEMENS

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.

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AIRBUS

No indication available

Shareholders approved the name change to Airbus from EADS at the company's annual general meeting.

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HUGO BOSS

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.

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OSRAM

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.

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EVOTEC

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.

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CTS EVENTIM

Indicated unchanged

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.

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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.

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ENBW

No indication available

EnBW issued a 500 million euros bond to refinance its debt.

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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

TRADING EX-DIVIDEND

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

DIARIES

REUTERS TOP NEWS ($1 = 0.5952 British Pounds) ($1 = 0.7345 Euros) (Reporting by Kirsti Knolle, Edward Taylor and Victoria Bryan)

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