Auto Industry, Energy, Transportation: Factors To Watch on August 3 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 crude inched above $106 a barrel on Friday on concerns over supply from the Middle East and the North Sea, though worries over a slowing global economy capped gains.

Singapore
SEMBCORP MARINE LTD
Singapore’s Sembcorp Marine, the world’s second-largest oil rig builder, said on Thursday its second-quarter net profit fell 4.6 percent from a year earlier to S$142.8 million ($114.3 million) on lower operating profit from rig building projects.

Germany
EADS
Indicated 0.2 percent higher
The German government will consider a request for funding from Eurocopter for its new civilian helicopter, economy minister Philipp Roesler said at the group’s factory in Donauwoerth on Thursday, according to media reports.

ELRINGKLINGER
Q2 results. The German automotive supplier is expected to report its second-quarter operating profit rose 14.4 percent to 38.1 million euros, the average of eight estimates in a Reuters poll of banks and brokerages showed.

UK
INTERNATIONAL AIRLINES GROUP – Europe’s fourth-biggest airline group by market value, formed by the merger of British Airways and Iberia, cuts its full-year profit guidance citing a poor performance from its Spanish unit and rising fuel costs, as it reported an operating loss of 253 million euros ($307.6 million) in the six months to the end of June compared to a profit of 88 million euros in the same period a year ago

Italy
FIAT
CISL trade union secretary said Fiat head Sergio Marchionne confirmed in a meeting on Wednesday no plants in Italy are at risk, La Stampa said.

Nordics
VOLVO
North American net order intake of heavy-duty trucks or Class 8 trucks will approach 12,9000 units in July, preliminary data from ACT Research showed. The final numbers will be released in mid-August, ACT said in a statement.

Turkey
AKENERJI
The energy company said it decided to sell a 22.5 percent stake in Akcez Enerji Yatirimlari to Akkok Sanayi and its remaining 22.5 percent stake in Akcez to CEZ for a total $140 million.

Russia
No decision on acquisition of BP’s TNK-BP stake-Rosneft
Rosneft sees return to profit in Q3 after surprise loss
Russia’s July oil output up to 10.34 mln bpd

France
RENAULT
French automaker Renault plans to expand the capacity of its Brazilian motor plant by 25 percent by 2013 as part of a sales offensive in Latin America’s largest economy, the company’s top executive in Brazil said on Thursday.

African Markets
NIGERIA OIL OUTPUT
Nigeria’s crude oil production hit a record high of 2.7 million barrels per day (bpd) on Aug. 1, the state-oil company said, despite ministers and oil companies saying recently that oil theft had caused output to fall.

China
China Railway Construction Corp is in talks with Inter Milan to build a new stadium in Italy’s financial capital in a move that would allow the Italian premier league soccer club to have its own home and make money out of it.