March 1, 2013 / 6:11 AM / 5 years ago

German stocks - Factors to watch on March 1

FRANKFURT, March 1 (Reuters) - The DAX top-30 index looked set to open 0.2 percent lower on Friday, according to premarket data from brokerage Lang & Schwarz at 0710 GMT.

The following are some of the factors that may move German stocks:


Indicated 0.3 percent higher

The largest shareholder of MetroPCS said late Thursday it will vote against the wireless service provider’s proposed merger with T-Mobile USA, a unit of Deutsche Telekom AG, unless the companies sweeten the deal.

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Indicated unchanged

Supervisory board chief Manfred Bischoff told Handelsblatt there was nothing to suggest CEO Zetsche’s contract would not be extended by another three years at the end of the current term, if that was what he wanted.

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Indicated 0.4 percent lower

Germany’s Federal Cartel Office searched the offices of ThyssenKrupp’s Steel Europe unit in Duisburg and Voestalpine’s Munich offices in a probe into deliveries to the automotive industry.

Separately, CEO Hiesinger said bids were in for the group’s steel mills in Brazil and the U.S.

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Indicated 0.3 percent lower

Karl Ulrich Garnadt will remain CEO of Lufthansa Cargo, the group’s frieght arm, after his contract was extended until the end of December 2016, the company said on Thursday evening.

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No indication

The media group said it is buying out private equity firm KKR’s stake in joint venture music rights management company BMG.

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No indication

Q4 earnings due.

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Dow Jones down 0.2 pct, S&P 500 down 0.1 pct, Nasdaq down 0.1 pct at Thursday’s close.

Nikkei up 0.4 pct at Friday’s close.


German retail sales grew at the fastest monthly rate in more than six years in January, rebounding from a deep fall in December and confirming signs that Europe’s largest economy has turned the corner after a dismal end to 2012.



REUTERS TOP NEWS (Reporting by Victoria Bryan)

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