As every Sunday, the most important dates of the coming week and the news of the last week:
https://youtube.com/shorts/pfzYa1llP08?feature=share
Monday:
Signs of #deflation in China 🇨🇳mehren. In June, there was 0% inflation. Deflation is as damaging to the economy as inflation that is too high. With deflation, consumption is stifled. Since it pays more not to spend money and just leave it lying around, people spend less money on consumption. As a result, domestic demand falls and the economy grows more slowly.
Already on Friday, the major bank $UBSG (+0.25%) (UBS) from Switzerland left its assessment for $BOSS (-2.19%) (Hugo Boss) unchanged at "Buy" after a roadshow in which CFO Yves Müller participated, among others. The price target was set at 87 euros. According to analyst Susy Tibaldi, who commented in an available report on Friday, relaxed tones were struck during the roadshow. There were no signs of a slowdown in broad-based sales growth. Then on Saturday, Societe General still raised the price target from EUR 75 to EUR 78. The rating is still left at 'Hold'. Finally, this morning JPMorgan raised the price target from EUR 76 to EUR 82. The rating remains at 'Overweight'.
https://goldesel.de/Artikel/mehrere-aufstufungen-bei-dieser-aktie
Tuesday:
Harmonized #consumer prices (comparable across the EU) increase to 6.8% year-on-year in Germany. Main reason are the effects of the EUR 9 ticket and the fuel price discount, which were introduced in June 2022.
dpa-AFX ProFeed
Corporate profits in Germany have increased at an above-average rate in recent years. While unit profits have increased by 24% since 2019, unit labor costs have increased by only 13%. The #OECD stresses the high difference between unit labor costs and unit profits allows further wage increases to spread the cost of inflation more evenly.
Wednesday:
The share of $YOU (+1.64%) (About You) gains significantly. The reason is that About You surprisingly quickly reached profitability.
dpa-AFX ProFeed
$$F3C (-4.89%) (SFC Energy) has received a follow-up order from the Netherlands. The company will supply EFOY Pro fuel cells worth approximately EUR 2.5 million to BauWatch, a leading service provider for temporary monitoring applications in Central Europe. Approximately €2 million of the order value will be recognized in sales in the current fiscal year, while the remaining amount will be recognized in 2024. The fuel cells supplied by SFC Energy will be deployed by BauWatch in camera towers mainly used for monitoring construction sites. The camera systems enable real-time tracking of construction progress remotely while increasing protection against criminal activity. BauWatch's security applications are also used in wind farms, solar farms and infrastructure projects. Each camera tower is equipped with batteries and solar panels for power supply. As an intelligent power generator, the EFOY Pro fuel cell monitors the battery's state of charge and automatically switches on to continuously recharge the battery if the voltage drops due to weather-related influences. The fuel cell then switches back to standby mode.
https://goldesel.de/Artikel/sfc-energy-mit-folgeauftraegen
Markets rise noticeably after inflation data from the USA turns out lower than expected. The inflation rate falls to 3.0% (forecast: 3.1%). Core rate also falls to 4.8% (forecast: 5.0%)
dpa-AFX ProFeed
Thursday:
After Lanxess, Evonik and Clariant, must also. $BAS (-1.29%) (BASF) lower its forecast. The main reason is that the recovery in China fails to materialize for the time being and Germany has already slipped into a technical recession. However, this has probably already been priced in, and the share is hardly losing any ground.
The chemical sector is considered a leading indicator for economic development. There have been forecast adjustments, but BASF is expected to remain profitable this year.
No special statements in the minutes of the #ECB meeting. The assumption is that the current interest rate level may not yet be sufficient to curb inflation.
https://www.xtb.com/de/Marktanalysen/Trading-News/eur-steigt-nach-aggressivem-ezb-protokoll
Friday:
Telecom equipment maker $ERIC A (+0.13%) (Ericsson) continues to struggle with a weak phase in its network business. In addition, the tightened austerity measures are weighing heavily on results. In the second quarter, the Swedish company posted a net loss of around 600 million Swedish kronor (52 million euros), it announced in Stockholm on Friday. That compares with a profit of just under 4.7 billion kronor a year earlier. Analysts, however, had expected an even worse result. Group CEO Börje Ekholm does not expect an improvement until the end of the year. Ericsson is suffering mainly from the reluctance of large mobile network operators to invest early in new technologies related to the 5G mobile standard and are now reducing their inventories. In the last quarter, sales in the network division fell by 13 percent, excluding acquisitions, disposals and currency effects. Performance was particularly weak in the United States. Successful business in India, where Ericsson has now become the market leader, could not compensate for this. Total Group revenue increased slightly by 3 percent to 64.4 billion kronor due to an acquisition.
https://goldesel.de/Artikel/ericsson-mit-schlechten-zahlen
Good figures from US banks 🇺🇸, JP Morgan earns 67% more than in the same quarter last year. Wells Fargo also increased its net income by more than 60%. Only Citigroup saw a decline of 31%, the reason being a weak trading business.
Key dates for the coming week:
Monday: 4:00 GDP figures (China)
Tuesday: 14:30 Retail Sales (USA)
Wednesday: 11:00 Inflation data (EU)
Thursday: 3:15 Interest rate decision (China)
Friday: 1:30 Inflation data (Japan)