German stocks - Factors to watch on September 2
FRANKFURT, Sept 2
FRANKFURT, Sept 2 (Reuters) - The DAX top-30 index looked set to open 1.2 percent higher on Monday, according to premarket data from brokerage Lang & Schwarz at 0642 GMT.
The following are some of the factors that may move German stocks:
Indicated 1.7 percent higher
Deutsche Bank said its dividend payouts will only rise once bank rules have been fulfilled, Chief Financial Officer Stefan Krause told Frankfurter Allgemeine Sonntagszeitung.
Indicated 1.7 percent higher
Lufthansa's air freight business failed to pick up over the summer period although overall business was "decent", Chief Executive Christoph Franz told Frankfurter Allgemeine Sonntagszeitung.
Separately, German weekly Der Spiegel said Lufthansa planned to cut costs by renegotiating its pension payment contracts for around 60,000 German employees.
Indicated 1.6 percent higher
The head of Volkswagen's works council, Bernd Osterloh, is in favour of taking on temporary workers that have been with the company for three years, he told German business daily Handelsblatt.
Separately, Volkswagen is in talks with U.S. trade union UAW to form a works council at the group's plant in Chattanooga, Handelsblatt reported, citing sources familiar with the matter.
In addition, the paper reported that Wolfgang Duerheimer - who earlier this year was replaced as head of R&D at VW's Audi unit - would leave the Volkswagen group, citing no sources.
Indicated 0.6 percent higher
Belgium's competition regulator has fined three cement makers and two related associations - including HeidelbergCement's CBR - 14.7 million euros ($19.4 million) for jointly restricting access to the Belgian market for new entrants.
Indicated 1.8 percent higher
Hankook Tire Co Ltd said on Monday it has begun supplying tyres to Daimler AG for the new Mercedes-Benz S-Class and E-Class sedans, a step up in brand recognition for South Korea's top tyre maker which has been eager to expand further in the premium tyre market.
Indicated 1.2 percent higher
The market price of polysilicon, an essential raw material for producing solar panels, is stabilising, Wacker Chemie Chief Financial Officer Joachim Rauhut told Boersen-Zeitung.
Indicated 11.5 percent higher
Evotec on Saturday said U.S. investor BVF Partners would invest 30 million euros to buy new shares in the group as part of a capital increase.
OVERSEAS STOCK MARKETS
Dow Jones -0.2 pct, S&P 500 -0.3 pct, Nasdaq -0.8 pct at Friday's close.
Nikkei +1.4 pct at Monday's close.
GERMAN ECONOMIC DATA
Markit/BME Mfg PMI for August due at 0753 GMT. Seen at 52.0, unchanged from July.
EUROPEAN FACTORS TO WATCH
REUTERS TOP NEWS ($1 = 0.7584 euros) (Reporting by Christoph Steitz and Ludwig Burger)
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