BERLIN/FRANKFURT, Jan 20 (Reuters) - The following are some of the factors that may move German stocks on Monday:
German cabin crew union UFO is planning further strikes at Lufthansa after talks with two potential mediators did not yield any results. The union will announce more details on Wednesday, a UFO spokesman said on Saturday.
CEO Ola Kaellenius has urged IG Metall union to exercise restraint in the upcoming wage negotiations. In an interview with Automobilwoche magazine, he also didn’t rule out further job cuts beyond the announced 10,000 positions until 2022.
Thomas Ulbrich, VW’s board member for overseeing production of electric vehicles, told Handelsblatt business daily that state subsidies for e-cars could probably be phased out in the course of the company’s first product cycle.
Separately, Chinese electric vehicle battery maker Guoxuan High-Tech Co Ltd is in talks with Volkswagen for potential strategic cooperation in technology, product, and capital, the battery maker wrote in a company filing on Monday.
U.S. electric car pioneer has agreed to buy a property on the outskirts of Berlin, bringing Tesla a step closer to opening its first European factory, local authorities said on Sunday.
Science and technology company Merck KGaA is focusing on reducing its debt and is not planning any major acquisitions over the next two years, CEO Stefan Oschmann told Handelsblatt business daily.
The company said it had stopped the sale process of its mechatronics division Vincorion after concluding that the offers submitted did not correspond to business potential as demonstrated in fiscal year 2019, and did not meet Jenoptik’s expectation.
PUMA SE: JP MORGAN raises price target to 77 euros from 74 euros.
OVERSEAS STOCK MARKETS
Dow Jones +0.2%, S&P 500 +0.4%, Nasdaq +0.3% at close.
Nikkei +0.2%, Shanghai stocks +0.4%.
Time: 5:48 GMT
GERMAN ECONOMIC DATA
German December producer prices due at 0700 GMT. Seen +0.2% m/m, -0.2% y/y.
REUTERS TOP NEWS (Reporting by Berlin Speed Desk and Frankfurt Newsroom)
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