Archive for English

Vestas Wind lead European shares higher

Vestas_V90_3MW

Shares in Danish wind turbine manufacturer Vestas Wind Systems surged 5.4 percent after the firm said it has won two big U.S. turbine orders.

European shares inched higher on Monday in the last session of the quarter, as investors bet that a raft of U.S. and European macroeconomic data this week will soothe worries over the pace of economic growth.

Among standout gainers, shares in Dutch conglomerate Philips gained 3.5 percent after saying it will merge its Lumileds LED components and automotive lighting divisions into a standalone subsidiary which could potentially be spun off.

By 0746 GMT, the FTSEurofirst 300 index of top European shares was up 0.3 percent at 1,374.60 points, clawing back some of its 1.7 percent loss last week.

The euro zone’s blue-chip Euro STOXX 50 index gained 0.4 percent to 3,241.65 points, bouncing off a support level tested last week, the index’s 50-day moving average.

“A lot of investors have been waiting for a pull-back to increase their exposure to equities, so we’re seeing a nice rebound this morning following last week’s dip,” Saxo Bank trader Pierre Martin said.

“Many indexes tested support levels last week, and the fact that they were not broken is sending a positive signal.”

Investors will focus on Monday on euro zone inflation data for June, due at 0900 GMT, which should show inflation stuck at 0.5 percent, the ninth consecutive month in the ECB’s “danger zone” of below 1 percent.

European stocks have risen sharply since mid-March, boosted by expectations of support from new stimulus measures from the European Central Bank (ECB), but retreated last week after downbeat U.S. growth data and worries over violence in Iraq.

Last week was also marked by investment outflows, with European equity funds seeing redemptions of $1.6 billion, their biggest outflows in over a year, according to data from BofA Merrill Lynch Global Research.

But despite the week’s pull-back, investors remain positive on the longer-term. A Reuters poll released last week showed that investors are bullish on the outlook for European shares in the second half of the year, betting on them extending their rally, helped by the ECB’s stimulus measures.

Alstom accepts 10 billion euro GE bid for its energy unit

The board of Alstom accepted General Electric’s 10 billion euro ($13.82 billion) bid for its energy unit on Tuesday, several sources familiar with the situation.

Sources said GE is not in exclusive talks with Alstom. The French transport-to-turbines group is also set to receive an offer from its much larger German competitor Siemens, which said it had sent a letter to Alstom after its managing and supervisory boards had decided to make an offer.

Ford debuts medium-duty trucks built without Cummins, Navistar

Ford Motor Co debuted new versions of two medium-duty commercial trucks on Tuesday at a trade show in Indianapolis, vehicles that – for the first time in years – will be built without the help of Navistar International Corp, Cummins Inc or Allison Transmission Holdings Inc.

The 2016 F-650 and F-750 trucks, which will go on sale in the spring of 2015, will be assembled at Ford’s plant in Avon Lake, Ohio and feature chassis, engine and transmissions all built in-house.

For years, the two vehicles were built on chassis made in Escobedo, Mexico under a joint venture with Navistar, using diesel engines supplied by Cummins and transmissions supplied by Allison.

Offshore wind builders to cut more projects in world’s top market

Britain has built the world’s biggest offshore wind energy market but there are signs it may have reached a tipping point as companies cancel and sell off projects in the face of steep costs.
RWE and Scottish Power have both scrapped or scaled back huge offshore wind farm projects in the last two months citing the costs involved in developing deepwater sites.
Those costs are estimated at several billion pounds each.

AUTOMOTIVE INDUSTRY IN MEXICO – a Key Sector

Mexico’s automotive industry is mature, dynamic and in continuous growth. In 2011, Mexico’s Automotive industry showed clear signs of recovery; light vehicle production reached a new historical record with 2.55 million vehicles.
At a global level, Mexico ranked as eighth producer of light vehicles. In two years, Mexico climbed two positions, surpassing French and Spanish production.
Currently, the automotive sector accounts for 4% of the national GDP and 20% of manufacturing production. The Mexican automotive industry is expected to continue increasing in the future. The forecasts indicate production will reach 3.7 million units by 2015.
Companies in the light vehicle industry have a total of 18 production complexes located in 11 states of Mexico, where they perform activities that range from assembly and armoring, to casting and stamping of vehicles and engines. Currently, more than 48 car and light truck models are produced in Mexico.