George M Regas

The German economy likely escaped contraction in the second quarter, but hopes that Germany could be spared the effects of the sovereign debt crisis and keep the euro zone out of recession have probably been dashed, analysts say.

Oilfield services company Petrofac Ltd. (PFC.LN) Monday posted forecast-beating revenue and net profit for the first half of 2012, but warned that the second half will see contract-award delays in its onshore engineering and construction division, though the group still expects at least 15% net

Allianz SE's (ALV.XE) German unit Monday reiterated that its 2012 operating profit should be "significantly above" the 2011 figure, provided there aren't any exceptional hits from natural disasters or other major claims and from capital market developments.

New car sales in Indonesia rose 0.8% in July to 102,512 units from 101,746 a month earlier, the Indonesian car-manufacturers association Gaikindo said Monday.

The Indian unit of Hyundai Motor Co. (005380.SE) said Monday it is still studying a plan on whether to construct a diesel-engine factory as there is a lack of clarity on government policy.

E.ON AG (EOAN.XE) Monday reported a near 13% increase in net debt in the first half of the year compared with the end of last year driven mainly by the company's investment program and dividend payments to shareholders.

Russia's Federal Antimonopoly Service and a government commission on foreign investment have worked out a possible amicable agreement to a dispute with Telenor (TEL.OS), the biggest shareholder in VimpelCom Ltd. (VIP), Russian business dailies Kommersant and Vedomosti report Friday and Monday,

European stock markets trimmed losses in midmorning action on Monday, as banks and utility firms lent support.

The Olympic Games may have provided a temporary boost to consumer and business confidence in the U.K., but ultimately the games cannot alter Britain's underlying economic problems, Bank of England Governor Mervyn King wrote in an article Sunday.

The main U.K. stock index traded lower on Monday, as resource firms weighed heavily on stocks.