As every Sunday, the most important news from the past week, as well as the dates for the coming week.
Also as a video:
https://youtube.com/shorts/a4VONpgpDy8?si=DlcRJH90N19mxo9L
Monday:
The $VOW (-0,15%) Lamborghini, a car manufacturer belonging to the VW Group, made a significantly higher profit. Turnover increased by 14.1% to 1.6 billion euros in the first half of the year. The profit rose to 458 million euros. The USA remains the most important market, ahead of Germany and the UK.
https://www.handelsblatt.com/unternehmen/industrie/lamborghini-sportwagenhersteller-erzielt-rekordgewinn/100056120.html
The prices for freight rates are rising sharply again, one consequence of which is that the trader Depot had to file for insolvency. Shipowners cite the Houthi attacks in the Red Sea as the cause. Traders speak of an artificial shortage.
https://www.handelsblatt.com/unternehmen/handel-konsumgueter/logistik-starker-anstieg-der-frachtkosten-bringt-haendler-in-existenznoete/100053221.html
Explosion on the factory premises of $BAS (+1,69%) BASF site in Ludwigshafen. The causes are still unclear, 14 people were slightly injured.
https://www.handelsblatt.com/unternehmen/industrie/chemieunternehmen-brand-nach-explosion-auf-basf-werksgelaende/100056151.html
Tuesday:
Some company figures at a glance:
$BP. (-1,13%) BP (oil company) beats expectations on profit and raises dividend.
The Austrian $RBI (+0,75%) Raiffeisen Bank also increases its profit (Q2) to 661 million euros. Around half of this comes from the controversial Russian business.
The lubricant manufacturer $FPE Fuchs also increased its EBIT by 9%. Turnover fell by 3%.
The Swiss chemical manufacturer $CLN (+0,39%) Clariant raises its profit forecast. Although sales fell in the first half of the year, the EBITDA margin increased.
https://www.handelsblatt.com/unternehmen/industrie/geschaeftszahlen-im-newsblog-einsparungen-bei-fmc-zeigen-wirkung-knorr-bremse-erwartet-mehr-gewinn-/24098412.html
The German economy is still not making any headway. GDP fell by 0.1% in the second quarter. In the first quarter, growth was 0.2%. It is therefore questionable whether GDP will grow over the year as a whole.
https://www.handelsblatt.com/politik/konjunktur/bip-deutsche-wirtschaft-schrumpft-um-01-prozent/100056168.html
Inflation in Germany 🇩🇪 remains a tough issue. At 2.3%, inflation in June was again slightly above the ECB's 2.0% target. Expectations were also slightly lower at 2.2%. However, the decisive factor is the inflation rate in the eurozone as a whole 🇪🇺. For example, Spain 🇪🇸 reported significantly lower inflation than expected.
https://www.handelsblatt.com/finanzen/geldpolitik/verbraucherpreise-inflation-bleibt-zaehe-angelegenheit-leichter-anstieg-im-juli/100054889.html
Wednesday:
$TMV (+1,21%) Teamviewer continues to grow profitably and also exceeds expectations with an EBITDA margin of 41%. Above all, cash flow increased significantly by 29% to EUR 60.8 million in Q2. The P/E ratio is now also in the 10 range. This is very low by comparison for a software group.
https://stock3.com/news/teamviewer-ist-profitabler-als-gedacht-15091142
The BoJ raises interest rates for short-term deposits to 0.25% from 0.1% previously. Bond purchases are also to be reduced further. The BoJ is thus gradually ending its policy of negative interest rates, which has led to a massive depreciation of the Japanese yen.
https://www.handelsblatt.com/finanzen/geldpolitik/geldpolitik-bank-of-japan-hebt-zinsen-an-anleihekaeufe-sollen-sinken/100056181.html
Inflation in the eurozone surprisingly rises to 2.6%. This makes a faster interest rate cut by the ECB less likely. Experts had only expected inflation of 2.5%. The ECB itself has set itself a target of 2.0%. Blanchard recently criticized the target and said a target of 3.0% inflation would be better. Prices for services in particular have continued to rise sharply, increasing by 4.0%. In June, however, the increase here was still 4.1 %.
https://www.handelsblatt.com/finanzen/geldpolitik/ezb-inflation-im-euro-raum-steigt-ueberraschend-auf-26-prozent/100054891.html
Following Jerome Powell's press conference, expectations of an interest rate cut in September in the USA 🇺🇸 have risen to 84%. The figures are currently moving in the right direction.
https://www.handelsblatt.com/finanzen/geldpolitik/us-notenbank-fed-stellt-maerkte-auf-baldige-zinswende-ein/100054877.html
Thursday:
$VOW3 (+1,32%) Volkswagen exceeds expectations. Both sales (83.3 billion euros instead of 83) and operating profit (5.5 billion euros instead of 5.3) were higher than expected in the second quarter. In order to achieve the planned return of at least 6.5%, VW still has to stretch itself a little.
https://www.handelsblatt.com/unternehmen/industrie/geschaeftszahlen-im-newsblog-toyota-wird-noch-profitabler-weniger-gewinn-fuer-bmw-und-vw/24098412.ht$BOSS (+0,31%)
$BOSS (+0,31%) HUGO BOSS announced a significantly better cash flow in the second quarter. Although the forecast was recently lowered, HB remains on course for growth and is gaining market share in a generally weak market.
https://group.hugoboss.com/fileadmin/media/hbnews/user_upload/Investor_Relations/Finanzberichte/2024/2024-08-01_HUGO_BOSS_Quartalsmitteilung_Q2.pdf
The BoE decides by a narrow majority to cut interest rates for the first time. The key interest rate is lowered by 0.25 percentage points to 5.0%.
https://www.handelsblatt.com/finanzen/geldpolitik/geldpolitik-bank-of-england-beginnt-mit-der-zinswende/100056340.html
Key dates in the coming week:
Monday: 16:00 Economic data (USA)
Tuesday: 11:00 Retail sales (EU)
Friday: 14:30 Employment data (Canada)
