FRANKFURT, April 5 (Reuters) - The DAX top-30 index looked set to open 1.4 percent lower on Tuesday, according to premarket data from brokerage Lang & Schwarz at 0613 GMT.
The following are some of the factors that may move German stocks:
Indicated 1.7 pct lower
Pacific Investment Management Co, a unit of Allianz, said former bond manager Bill Gross’ abusive conduct and effort to sabotage colleagues he deemed disloyal gave it “good cause” to oust him, and not pay any of the more than $200 million of damages he now seeks in a lawsuit.
Indicated 0.9 pct lower
U.S. exchange operator ICE has reached agreement with three banks to provide part of the debt required to finance an offer for LSE, Sky News reported, citing insiders. Deutsche Boerse aims to merge with LSE.
Indicated 0.5 pct lower
The carmaker will invest an average of 7 billion euros ($7.97 billion) per year in 2016 and 2017, up from the nearly 5 billion euros in 2015, German business daily Handelsblatt reports, not citing where it obtained the information.
Indicated 1.4 pct lower
Siemens has approached Emerson Electric Co to explore acquiring the network power business that the U.S. factory automation equipment maker is looking to shed for as much as $4 billion, people familiar with the matter said.
Indicated 1.7 pct lower
Brazilian miner Vale SA said on Monday it will sell its entire 26.87 percent stake in the struggling CSA steel plant to Germany’s ThyssenKrupp for a token value, in a bid to focus on core mining businesses with commodity prices at historic lows.
Indicated 0.8 pct lower
The biotech firm said it is suing Janssen Biotech and Genmab A/S for patent infringement related to a cancer treatement.
No indication available
Schaeffler Holding said it is selling 94.4 million non-voting shares in Schaeffler AG, or 14.2 percent of the AG’s issued capital, via an accelerated book-building to international institutional investors. The price range in the sale, which is expected to close on Tuesday, is seen at 13.10 euros to 13.50 euros per share, one of the organising banks said. Proceeds would be used to cut debt, Schaeffler said.
Indicated 0.3 pct lower
Full annual results due. The company published preliminary results on Feb. 23 and said it expected its earnings before interest, tax, depreciation and amortisation (EBITDA) to rise to 345-355 million euros this year.
Dow Jones -0.3 pct, S&P 500 -0.3 pct, Nasdaq -0.5 pct at Monday’s close.
Nikkei -2.4 pct at Tuesday’s close, Shanghai stocks +1.3 pct at 0613 GMT.
German February industrial orders -1.2 pct m/m vs Rtrs poll +0.2 pct m/m.
German March Markit Services PMI due at 0755 GMT. Seen unchanged at 55.5.
REUTERS TOP NEWS ($1 = 0.8787 euros) (Reporting by Jonathan Gould and Christoph Steitz)