Thanks for this article. This may explain what's happening.
Anyway, here is the latest on this, does this explain the small bounce at the end of the day?:
Labor Unions Resume Wage Negotiations with RWE
02/05/2013| 12:01pm US/Eastern
By Hendrik Varnholt
Negotiations between two labor unions and German utility RWE AG (>> RWE AG) are to resume in a bid to avert walkouts by several thousand workers, one of the unions said Tuesday.
RWE said Monday it would to increase its wage offer and extend the rules for layoffs, Ver.di said, prompting talks to restart with it and IC BCE, the other union involved.
"The threatening strike ballot and the possibility of an open-ended strike have apparently now led the employer to give in," Ver.di's chief negotiator Peter Lafos said.
One critical issue in the negotiations are the details about layoffs and change of position within the company, for example, between divisions, a person familiar with the negotiations told Dow Jones Newswires. The labor unions have rejected changes RWE has tried to make.
The two unions said last week their talks with RWE broke down, with Mr. Lafos saying the unions would "very likely" officially declare their talks with RWE dead at a Tuesday's wage committee meeting, prompting a strike ballot like that which has already taken place at RWE's competitor E.ON SE (>> E.ON AG).
--Shane Strowmatt contributed to this article.
Write to Hendrik Varnholt at [email protected]
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