Auto Industry, Energy, Transportation: Factors To Watch on August 10 image

Here are news stories, press reports and events to watch which may affect the auto industry, transportation and energy markets on Friday.

WORLD OIL PRICES
Brent oil is expected to hover above a former resistance at $112.33 per barrel, a break below which will signal the completion of an uptrend from the June 22 low of $88.49.

Czech Republic
CEE POWER: Czech and Slovak power prices drifted apart on Thursday as the normally coupled markets split due to restrictions on cross-border supply that will limit flows to Slovakia, traders said.

UK
GKN – The British engineer said on Friday it would invest over 12 million pounds ($18.8 million) to increase capacity at its Birmingham and Telford facilities in central England to support its role as a supplier to automotive brands.

FLYBE GROUP – Europe’s largest regional airline, on Friday cut its full year revenue target due to the impact of continued weak consumer markets and stubbornly high oil prices.

African Markets
AIR MAURITIUS EARNINGS
Air Mauritius reported a quarterly pretax loss of 10.1 million euros ($12.5 million), hit by high fuel prices and a weak euro, and said those factors would continue to weigh on it going forward.

Nordics
VOLVO, SCANIA
The two Swedish truck firms are losing market share in Europe, because they have a smaller market share in Europe’s biggest market Germany, where the market has held best during the crisis, daily Dagens Indusri reported.

Turkey
KARSAN
The automobile maker said in a statement it will sign a contract with the Istanbul transport authority to supply it with 200 natural gas-powered buses, after winning a tender.

France
RENAULT
The French carmaker’s South Korean unit said on Friday it will launch a voluntary redundancy programme, its first ever, as it grapples with slumping sales both at home and abroad brought on by a slowing economy and a limited product lineup.