German stocks - Factors to watch on Feb. 21
FRANKFURT Feb 21 (Reuters) - The DAX top-30 index looked set to open 0.5 percent lower on Thursday, according to premarket data from brokerage Lang & Schwarz at 0706 GMT.
The following are some of the factors that may move German stocks:
Indicated 0.4 percent higher
The insurance giant said it saw improving prospects for calm in the euro zone as it reported a higher than expected fourth quarter net profit of 1.22 billion euros.
Indicated 0.3 pct lower
Daimler's supervisory board is set to hold a meeting at which the extension of Chief Executive Dieter Zetsche's contract is set to be discussed. Under discussion is extending his contract by five years until the end of 2018, a source familiar with the matter told Reuters.
Separately, Daimler also announced a partnership with Deutsche Telekom to promote new online services and web applications in motor vehicles.
Indicated 1 pct lower
The airline's chief executive Christoph Franz told FAZ in an interview said no decision had yet been taken over which aircraft the group would buy as part of a plan to invest in 108 new planes. He said that Lufthansa's passenger airline business in Germany was expected to make a loss in 2012.
KLOECKNER & CO
Indicated 1.3 pct lower
The Knauf Group, which earlier this week became Kloeckner's largest shareholder by taking a 7.8 percent stake, wants to increase its holding to at least 25 percent, Handelsblatt reported, citing industry sources.
Indicated 1.1 pct lower
The group issued a profit outlook for 2013 that is below analyst expectations as it reported a 14 percent fall in EBITDA for 2012.
The group is in advanced talks to buy out private equity firm KKR's majority stake in joint venture music rights management company BMG, the New York Post said, citing unnamed sources.
SOLARWORLD, SMA SOLAR
Both indicated 1.1 pct lower
EU member states have approved a European Commission plan to register solar panels from China, EU diplomats said, as the latest step toward duties on the 21 billion euro ($28.08 billion) import market
No indication available
The German real estate group concluded refinancing the 1.06 billion euros ($1.42 billion) Woba portfolio, it said on Wednesday.
Indicated 0.3 pct higher
Freenet AG said it acquired a 51-percent stake in MOTION TM Vertriebs GmbH, an online retailer in the mobile communications and telecoms industry. Freenet declined to disclose financial details of the transaction.
No indication available
Zapf said late on Wednesday that it will call an extraordinary shareholder meeting to discuss losses at the company which have started to eat away at the capital.
OVERSEAS STOCK MARKETS
Dow Jones down 0.8 pct, S&P 500 down 1.2 pct, Nasdaq down 1.5 pct at Wednesday's close.
Nikkei down 1.4 pct at Thursday's close.
GERMAN ECONOMIC DATA
February German Markit Manufacturing PMI due at 0828 GMT, seen at 50.5. February German Markit Service PMI, seen at 55.5.
EUROPEAN FACTORS TO WATCH
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