The northern hemisphere spring has come at last and it’s time for motorists in Russia to switch from winter to summer wheels. The first warm sunshine of the year is also a reminder of the gains awaiting foreign tyre makers that are flocking to Russia to establish manufacturing ventures.
Among the latest to arrive is a partnership between Bridgestone and Mitsubishi of Japan, set to invest Y37.5bn ($377m) in a new tyre making plant in Russia’s Ulyanovsk region.
Indian markets are buzzing with gossip about Larsen & Toubro (L&T), the Indian conglomerate, over two possible deals.
Although nothing is confirmed, analysts are expecting some deal activity to materialise – and the share price is getting a bumpy ride.
Japanese carmakers seem to be staring into the abyss in China, with buyers shunning Japanese cars since September, because of the Diaoyu islands dispute.
But AllianceBernstein analysts think this may be a passing phase. If they’re right, it could be an opportunity to buy Japanese car stocks, which are well down on the news from China.