Auto Industry, Energy, Transportation: Factors To Watch on July 25 image

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

Brent remained steady at $103 a barrel on Wednesday as worries about oil demand from the troubled euro zone and the United States offset any gains to oil prices sparked by concerns about supply from the Middle East.

Q2 results due. The maker of Mercedes-Benz cars is expected to report earnings before interest and tax (EBIT) fell 16.4 percent to 2.16 billion euros.

Toyota Astra H1 car sales up 28 pct y/y.

The Italian power grid company said on Tuesday its core earnings in the first six months rose 10 percent on the same period last year, boosted by higher grid and dispatching fees.

BP – The oil major failed to pay attention to major areas of potential danger on its oil rigs, according to a new report into the Deepwater Horizon explosion that killed 11 people and unleashed America’s worst oil spill, the Guardian said.

Poland No.2 refiner Lotos is seen as the favourite to buy shale gas exploration licences from ExxonMobil, which decided to exit Poland last month, daily Dziennik Gazeta Prawna reported without citing its sources.

Finnish refiner Neste has approached Poland’s top refiner PKN Orlen with an offer to sell its chain of fuel stations, which has also attracted the interest of Lotos, Puls Biznesu reported without citing its sources.

PSA Peugeot Citroen detailed first-half losses on Wednesday and announced 1.5 billion euros in further savings as it presses ahead with politically fraught restructuring plans.
Operating profit plunged to 4 million euros ($4.83 million) from 1.16 billion euros a year earlier.

Indian authorities probing last week’s violence at Maruti Suzuki India Ltd. (MSIL) are narrowing their manhunt to 11 labor union leaders.