FRANKFURT, Oct 1 (Reuters) - The DAX top-30 index is expected to open 0.3 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:
Shares in online fashion retailer Zalando are due to start trading on the Frankfurt stock exchange on Wednesday.
Also, the offer period for the German e-commerce investment group Rocket Internet’s initial public offering is due to end at 1100 GMT.
Indicated 0.1 percent higher
The insurance group’s Pimco subsidiary intends to expand its equities business and there will be no difference in the firm’s portfolio management since the departure of former chief investment officer Bill Gross, two top Pimco executives said on Tuesday.
Separately, influential pension consultant Mercer Investment Management has downgraded its ratings on five Pimco funds, possibly triggering another wave of institutional investor outflows from the bond fund manager.
Indicated 0.2 percent higher
Five separate labour strikes by pilots have cost the airline a total double-digit million euro sum, on top of 60 million euros from a three-day strike last spring, Lufthansa’s personnel chief Bettina Volkens told German daily Bild.
No indication available in Frankfurt
Airbus Chief Executive Fabrice Bregier told French daily newspaper Le Figaro that the European planemaker was sticking to a target for its A380 superjumbo to break even next year.
Indicated 0.2 percent lower
The generic drugmaker has given up on trying to extend the work week to 40 hours from 37.5 hours in Germany because of opposition from organised labour, daily Frankfurter Allgemeine Zeitung reported.
No indication available
The telecoms operator said it has completed the acquisition of E-Plus.
Up 3.7 percent in early Frankfurt trade
The insolvent bicycle manufacturer will approach potential investors shortly, board member Stefan Weniger told Frankfurter Allgemeine Zeitung. The company filed for insolvency on Monday and said it would start a sales process without delay.
Up 3.3 percent in early Frankfurt trade
The maker of chemicals for the steel industry said on Tuesday its lenders would put on hold their repayment claims until end-January next year as part of a stand-still agreement.
MTU AERO ENGINES - JP Morgan raises the stock to “neutral” from “underweight”
VTG - Berenberg raises the stock to “buy” from “hold”
Dow Jones -0.2 pct, S&P 500 -0.3 pct, Nasdaq -0.3 pct at Tuesday’s close.
Nikkei -0.6 pct at Wednesday’s close.
European Central Bank President Mario Draghi is set to push the ECB to buy junk-rated Greek and Cypriot bank loans, a move that may increase tensions between Germany and the bank, the Financial Times reported.
German September Markit Composite Final PMI due at 0755 GMT. Manufacturing PMI seen unchanged at 50.3, Services PMI unchanged at 55.4.
REUTERS TOP NEWS ($1 = 0.7933 euro) (Reporting by Ludwig Burger and Maria Sheahan)