German stocks - Factors to watch on February 17
FRANKFURT Feb 17 (Reuters) - The DAX top-30 index looked set to open 0.1 percent higher on Monday, according to premarket data from brokerage Lang & Schwarz at 0721 GMT.
The following are some of the factors that may move German stocks:
Indicated 0.1 percent lower
Volkswagen's works council said it would press on with efforts to set up labour representation at its Chattanooga, Tennessee plant, undeterred by a workers' vote against any such step involving the United Auto Workers union (UAW).
In a stinging defeat that could accelerate the decades-long decline of the United Auto Workers, Volkswagen workers on Friday had voted against union representation at the plant, which had been seen as organized labor's best chance to expand in the U.S. South.
Indicated 0.4 percent higher
The company is close to a deal to increase its controlling 40 percent stake in Greece's OTE by buying a further 10 percent from the debt-laden government, the newspaper To Vima reported.
Separately, Deutsche Telekom will field-test "G.fast" this year, a new data transmitting technology developed by Alcatel-Lucent and Huawei, WirtschaftsWoche reported, citing company sources.
Indicated 0.1 percent higher
The liquid crystal maker has extended the offer period for its planned takeover of Britain's AZ Electronic Materials for a third time because Chinese antitrust regulators have yet to give their approval.
E.ON indicated 0.4 percent lower
German utility E.ON and power grid operator TenneT have agreed with labour representatives on a 2.4 percent pay rise for their German employees, the energy sector trade union IG-BCE said in a statement on Friday.
BMW, SGL CARBON
BMW indicated 0.1 percent lower
SGL indicated 4.1 percent higher
German carmaker BMW and carbon specialist SGL Carbon are planning to double their joint production of carbon-fibre to 6,000 tonnes a year from 3,000 tonnes now, a person familiar with the matter told Reuters on Sunday.
Aurubis indicated 0.4 percent higher
Salzgitter indicated 0.7 percent lower
Copper producer Aurubis expects total energy costs of 60 million euros per year for its German plants as part of an energy law overhaul that would see firms that produce their own power start paying surcharges to support renewable energy, its CEO told weekly Euro am Sonntag.
Salzgitter, Germany's No.2 steelmaker, expects additional costs of 75 million euros.
Indicated 2.5 percent lower
The Internet service provider may have a tough time reaching its 2016 financial targets if new cloud services fail to gain traction in the next few years, its chief financial officer told daily Boersen-Zeitung.
The company is planning to expand its offering to include Internet TV service via its 1&1 brand, Chief Executive Ralph Dommermuth told Sunday paper Welt am Sonntag in an interview, declining to say when the new product would be introduced.
Indicated 0.9 percent higher
The automotive parts maker said fiscal Q1 net income rose 6.6 percent to 12.96 million euros.
OVERSEAS STOCK MARKETS
Dow Jones +0.8 pct, S&P 500 +0.5 pct, Nasdaq +0.1 pct at Friday's close.
Nikkei +0.6 pct at Monday's close.
Chief Executive Harald Vogelsang expects the unlisted bank to pass the ECB's stress test, he told Boersen-Zeitung in an interview, adding the financial burden from taking part in the test would grow to a double-digit million euro amount in the future, up from a mid single-digit million euro amount now.
EUROPEAN FACTORS TO WATCH