Auto Industry, Energy, Transportation: Factors To Watch on June 18 image

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

WORLD OIL PRICES
Crude futures rose in early Asian trade on Monday as Greece’s pro-bailout parties looked set to win a slim majority at weekend elections, easing investor fears of an imminent exit from the euro zone.

The euro jumped to a one-month high and Asian shares rose on Monday after Greece’s cliffhanger election delivered a slim parliamentary majority to pro-bailout parties, a result seen as crucial to European leaders’ efforts to hold the euro together.

Romanian carmaker Dacia, owned by French Renault, plans to partly stop production at its Mioveni factory on June 18 and 19 and July 2 due to a drop in car orders.


ENI, SNAM
The Italian oil and gas major has received expressions of interest from sovereign funds for the 22.5 percent stake in Snam it has to sell to exit its investment in the gas grid operator, an Eni source said on Sunday.

FIAT
Sports-car maker Ferrari has no plans for a listing even though an IPO is still an option for its owner Fiat, Ferrari’s chairman told Saturday newspaper Milano Finanza.

GAS NATURAL Spain
Societe Generale cut Gas Natural to buy from hold and reduced its price target to 10 euros from 11 euros.

MAN GROUP – In an unexpected move, the hedge fund group has named Jonathan Sorrell, currently its Head of Strategy and Corporate Finance, as its finance director, replacing Kevin Hayes, who is leaving the company with immediate.

* ROLLS-ROYCE – Britain will order the first reactor for a new generation of nuclear-armed submarines next week as part of a 1 billion pound contract with Rolls-Royce, a defence ministry source said on Sunday.

BP – The oil major’s row with its Russian partners is expected to flare up again this week when Mikhail Fridman, the oligarch who leads the Russian side, pays a visit to London. Fridman heads AAR, the group of billionaires that own half of TNK-BP, the British oil giant’s Russian venture, The Sunday Times said.

ROYAL DUTCH SHELL – The Anglo-Dutch oil giant is believed to be considering making an improved offer of 1.4 billion pounds for Mozambique-focused explorer Cove Energy to see off a rival bid from Thai energy group PTT Exploration & Production, the Sunday Express said.