German DAX index maintained downward trend on Thursday despite the fact German business confidence improved more than predicted in February. Among main decliners was Deutsche Telekom which plunged 3% after the company predicted a further decline in its profits in 2012. Commerzbank provided the main negative contribution to index after European Commission lowered Euro Zone annual growth forecasts, from 0.5% to 0.3%, claiming it expects mild recession across the region. At the moment of writing DAX index is 0.65% or 44.5 points down at 6,799.95.