February 27, 2013 / 6:16 AM / 5 years ago

German stocks - Factors to watch on Feb. 27

FRANKFURT, Feb 27 (Reuters) - The DAX top-30 index looked set to open 0.6 percent higher on Wednesday, according to premarket data from brokerage Lang & Schwarz at 0730 GMT.

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


Indicated 0.5 percent higher

Chief Executive Dieter Zetsche’s contract may not be extended again when it expires in 2016, a member of the German car maker’s supervisory board told Reuters on condition he not be identified because the matter is confidential.

Daimler’s supervisory board extended the CEO’s contract by only three years on Feb. 21, two years less than expected.

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Indicated 0.9 percent higher

Germany’s biggest lender has convened a special shareholder meeting for April 11 to confirm the contested resolutions of the 2012 annual general meeting. The Frankfurt-based bank also said on Tuesday it will postpone publication of its 2012 annual report until mid-April.

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Indicated 0.9 percent higher

Europe’s biggest carmaker’s top labour representative will address a staff meeting at the company’s base in Wolfsburg.

Separately, VW’s Audi unit said it will further expand production at its two German factories in March, citing “stable” demand for luxury vehicles especially from the United States.

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Indicated 2.9 percent higher

EADS reported a 17 percent rise in fourth-quarter revenue to 19.2 billion euros, while net profit fell 47 percent to 325 million euros.

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Indicated 0.8 percent higher

The builder controlled by ACS will resume paying a dividend for 2012 after scrapping a payout for the 2011 business year, daily Handelsblatt reported, citing company sources. Hochtief is due to report 2012 results on Thursday.

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Indicated 1.2 percent lower

The steelmaker said it expected flat sales and earnings before tax in the lower double-digit million euro range in 2013. The average analyst estimate was for 93.3 million euros ($122 million), according to Thomson Reuters I/B/E/S data.

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In early trading, shown 0.2 percent lower

Telefonica Deutschland said fourth-quarter revenue growth from its wireless business slowed further due to lower income from text messages as customers increasingly switch to smartphones and tablets.

The company will also shake up its mobile offering to respond to increasing competition and an unexpected acceleration in consumers switching to smartphones and tablets, its Chief Executive Rene Schuster told Reuters.

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Indicated 0.8 percent higher

The German fashion company is due to publish full-year results.

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Indicated unchanged

Cewe Color said sales rose seven percent last year to 503.3 million euros, matching in-house targets. Full-year EBIT declined 4 percent to 28.9 million euros, also in line with internal expectations.

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Dow Jones up 0.8 pct, S&P 500 up 0.6 pct, Nasdaq up 0.4 pct at Tuesday’s close.

Nikkei closed -1.3 pct lower on Wednesday.


German consumer morale rose for a second straight month heading into March as a calming of the euro zone crisis fills Germans with confidence that their economy will pick up in the coming months, market research group GfK said on Wednesday.

Import prices rose 0.1 percent month-on-month in January.



REUTERS TOP NEWS (Reporting by Andreas Cremer and Jonathan Gould)

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