CEO Zetsche buys Daimler shares for $1.5 million

BERLIN - CEO of Daimler AG, Dieter Zetsche, has shares in the automaker for about 1.15 million euros (1.5 million$) bought the company says as a signal of confidence in its future is determined.

Daimler said Friday that Zetsche 22,000 shares in the company, which, using the proceeds from the exercise of stock options then back to 2004 bought.

The company fully in the second quarter earnings report is due on 24 Daimler spokesman Joerg Howe said in a statement that his should buy stock underline "his confidence in a sustainable and positive development for Daimler" and a signal to other shareholders.

Daimler shares were 0.3 percent higher at 53,51 euros in Frankfurt trading after the announcement.