Auto Industry, Energy, Transportation: Factors To Watch on August 14 image

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

Brent futures held steady above $113 on Tuesday as investors awaited GDP data out of two of Europe’s powerhouse economies to gauge the region’s energy demand outlook, while tensions in the Middle East supported prices.

Czech Republic
CAR SALES: Sales of Skoda cars in Germany (the Czech Republic’s main trading partner) fell by 1.3 percent in the first seven month of the year. In July alone they plummeted by 25.7 percent.

Sales of Hyundai cars made in the Czech Republic rose by 2.5 percent in Germany in the January-July period and in July alone they rose by 12.3 percent.

German gross domestic product grew 0.3 percent in the second quarter, seasonally-adjusted data showed on Tuesday, slightly beating expectations on the back of solid exports and consumption.

Thailand’s top energy firm reported a 74 percent fall in quarterly net profit to a three-year low, hit by lower income from its upstream unit and weak refining and petrochemical businesses.

The Norwegian oil services firm reported second-quarter earnings above expectations and said its outlook remains bullish.
Aker Solutions said second-quarter earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 113 percent to 1.36 billion Norwegian crowns ($229.60 million), exceeding expectation for 1.17 billion crowns in a Reuters survey.

The Norwegian oil firm has sold a 25 percent stake in its exploration license off Mozambique, which consists of two blocks, to Tullow Oil plc, it said on Tuesday.

The Italian carmaker lost its latest bid to overturn a court order to hire 145 workers from the Fiom union after an Italian court rejected a request to suspend a previous court order forcing it to hire the workers at its Pomigliano plant. A final ruling is expected October 9.

African Markets
Malawi will press ahead with oil and gas exploration in Lake Malawi despite demands by Tanzania to halt such activities until a border dispute is resolved, Foreign Affairs Minister Ephraim Chiume said.