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Wahl-Group files for insolvency: one of Germany's largest and oldest BMW dealers affected

The Wahl-Group from Siegen, with more than 1,000 employees and 30 locations in NRW, Rhineland-Palatinate and Hesse, has filed for insolvency. Management cites rising costs, falling sales and a marked reluctance to purchase among corporate and private customers as reasons. The group is regarded as the world's oldest active BMW dealer; wages are initially secured by insolvency payments from the Federal Employment Agency until the end of November. » More on manager-magazin.de
Citigroup bolsters recovery of auto stocks and puts BMW on positive catalyst watch

Citigroup sees signs of an imminent recovery in the automotive sector despite expected headwinds in the third quarter. Analyst Harald Hendrikse assigned BMW a "Positive Catalyst Watch" (90 days) and expects short-term positive share-price drivers; supplier Forvia also received a short-term Positive Catalyst Watch (30 days). Possible triggers include tighter EU rules targeting Chinese competitors, solid registration numbers in the US and Europe, and cost-cutting announcements at investor events through mid-October. » More on de.investing.com
BMW placed on Positive Catalyst Watch by Citigroup — shares rise

Citigroup placed BMW on "Positive Catalyst Watch" with a 90-day time frame and kept the rating at neutral. Analyst Harald Hendrikse expects short-term positive price drivers, supported by improved China expectations and very low market expectations ahead of the capital markets day under new management. The shares rose on XETRA by around 3.1% to about €61.82, with possible short covering cited as another driver. » More on finanzen.net