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FRANKFURT, April 2 (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 0625 GMT.
The following are some of the factors that may move German stocks on Wednesday:
Indicated 0.4 percent higher
Allianz unit Pimco’s Total Return Fund, the world’s largest bond fund, trailed 95 percent of its peers in March, increasing the risk that more money could flee the firm’s flagship fund in the wake of a management shake-up.
VW indicated 0.7 percent higher
BMW indicated 0.4 percent higher
Daimler indicated 0.4 percent higher
Volkswagen U.S. March auto sales were down 2.6 pct year-on-year. Audi sales rose 7.5 pct, Porsche sales rose 9.2 pct and Mercedes-Benz sales rose 11 pct. BMW Group said sales rose 7.9 pct.
Separately, the United Auto Workers (UAW) on Tuesday asked a U.S. agency to stay an April 21 hearing related to a mid-February union vote it lost at a Tennessee Volkswagen plant, citing what it called new evidence of collusion between Republican lawmakers and anti-union groups.
Also, Volkswagen has applied to set up its first plant in Thailand, Bloomberg reported late Tuesday citing people familiar with the matter.
Indicated 1.9 percent lower
A U.S. grand jury is probing whether Deutsche Boerse’s Clearstream Banking SA unit took any steps to benefit Iran and its central bank, according to a court filing in a case that stems from the 1983 bombing of the U.S. Marine barracks in Beirut.
Deutsche Boerse said Clearstream was cooperating with authorities on the matter.
Separately, Deutsche Boerse said trading volumes at the Eurex Group derivatives unit fell 5.6 percent between January and March compared with the same period a year earlier.
Indicated 0.9 percent higher
Deutsche Post, the world No. 1 postal and logistics company, unveiled medium-term financial targets through 2020, forecasting that operating profit will grow by an average of more than 8 percent a year.
Indicated 0.2 percent lower
Lufthansa pilots plan to start a walkout. The airline has cancelled 3,800 flights for April 2-4 due to the strike.
Indicated 2.1 percent lower
Deutsche Bank said it will place 30 million Gagfah shares, a stake of around 14 percent, on behalf of Fortress Investment Group. The shares are being placed at between 11.00 euros and 11.20 euros a share, a person familiar with the matter said on Tuesday.
Indicated 4 percent higher
The biotech company Evotec said it would collaborate with Debiopharm on the development of a new cancer treatment.
Indicated 0.3 percent higher
The telecoms and Internet services provider has a list of potential takeover targets, its finance chief Joachim Preisig told Boersen-Zeitung, adding he believed Freenet had enough fire power to make acquisitions and still pay an attractive dividend.
Indicated 8.3 percent higher
Under a new agreement struck late on Tuesday, the German federal government will allow more flexibility for new offshore wind energy plants by permitting up to 1.2 gigawatts more capacity by 2020 on top of the 6.5 gigawatts already applied for.
Indicated 0.3 percent higher
The IT services leasing provider said its new business increased by 12.8 percent in the first quarter, putting it onrack to reach its full-year target of 13-16 percent growth.
DEUTSCHE BOERSE - Societe Generale starts with “buy” rating.
Dow Jones +0.5 pct, S&P 500 +0.7 pct, Nasdaq +1.6 pct at Tuesday’s close.
Nikkei +1 pct at Wednesday’s close.
REUTERS TOP NEWS (Reporting by Edward Taylor, Maria Sheahan and Kirsti Knolle)