As every Sunday, the most important news of the last week and the dates of the next week.
The dates of the next week as a video:
https://youtube.com/shorts/Z2rjD3rE6NY?feature=share
Monday:
$RYA (-4,28%) Ryanair benefits from the resurgence in travel. In the 2nd quarter, profits increased significantly. To a surplus of 663 million euros. A year ago, the profit was still 188 million euros. Nevertheless, Ryanair expects fewer guests for the full year. This is due to delays in the delivery of new Boeing jets.
https://www.handelsblatt.com/unternehmen/handel-konsumgueter/luftfahrt-billigflieger-ryanair-mit-gewinnsprung/29274334.html?nlayer=Newsticker_1985586
Bad industrial data from Germany, things are just not going well at the moment. The purchasing managers' index is even worse than expected. The manufacturing index fell to 38.8 (forecast: 41). This is the worst value in 38 months. In the service sector, the result is also worse than expected. The industrial sector is now downsizing its workforce, while the service sector is at least hiring less.
https://finanzmarktwelt.de/deutsche-wirtschaft-industrie-weiter-im-freien-fall-277800/
New logo for $0QZBl Twitter, instead of the bird in the future the 'X'. Elon Musk has once again taken the cake. Twitter is coming under pressure due to the successful launch of Threads, among other things. The meta company was able to gain more than 100 million users in a very short time with its Twitter counterpart.
https://app.handelsblatt.com/technik/it-internet/kurznachrichtendienst-twitter-logo-auch-in-web-version-geaendert-x-ersetzt-den-vogel/29273560.html
$ADS (-0,52%) Adidas is probably doing better than expected. The group is now raising its forecast, the reason being a successful sell-out of the Yeezy collection. Sales will drop less than expected, and the operating loss will be less than expected.
https://app.handelsblatt.com/unternehmen/industrie/sportartikel-adidas-erhoeht-nach-erfolgreichem-ausverkauf-der-yeezy-schuhe-die-prognose/29274314.html
$BAYN (-0,3%) Bayer collapses in the short term. The forecast had to be scrapped because of glyphosate sales. Glyphosate remains the biggest risk for Bayer. FCF is expected to drop to 0!!! instead of 3 billion euros this year.
However, such behavior is typical after a CEO change. Also known as 'cleaning the desk' the new CEO puts everything bad into the inaugural year, blames the predecessor and then looks really good afterwards because they got the company on track.
dpa-AFX ProFeed
Tuesday:
The business climate in Germany deteriorated significantly. The ifo barometer fell to 87.3 points, 88 points had been expected. Germany is already in recession. For Thursday, a further interest rate hike by the ECB is nevertheless expected. However, with such data, this could be the last for the time being.
https://app.handelsblatt.com/politik/konjunktur/konjunktur-ifo-geschaeftsklimaindex-faellt-staerker-als-erwartet/29276414.html
#china shares rise sharply. The reason is not the sudden disappearance of Foreign Minister Qin Gang, who is being replaced by his predecessor Wang Yi. It is an announced economic stimulus program. Consumption is to be boosted, aid is to be provided for companies and the real estate sector is to be stabilized. Exact details are not yet known, however.
https://amp.cnn.com/cnn/2023/07/25/economy/china-politburo-economy-hnk-intl/index.html
As a result of the interest rate turnaround, companies have taken out significantly fewer loans. This is the result of an ECB survey. Investment loans in particular fell sharply. Another alarm signal from the economy. Italy was hit hardest by the decline in loans among the four major economies in the EU. Banks expect a further decline in the third quarter.
https://www.handelsblatt.com/finanzen/banken-versicherungen/banken/bank-lending-survey-folgen-der-zinswende-kreditnachfrage-von-unternehmen-bricht-ein/29276694.html
Forecast increases by $DB1 (+1,19%) Deutsche Börse and by $RWE (+0,03%) RWE. Both companies expect a better result for the full year.
Also $GOOGL (-5,58%) Alphabet and $MSFT (-3,93%) Microsoft also delivered figures above expectations.
https://app.handelsblatt.com/finanzen/banken-versicherungen/banken/quartalszahlen-deutsche-boerse-steigert-nettoerloese-um-20-prozent/29277980.html
Wednesday:
Also the $DBK (-2,86%) Deutsche Bank exceeds analysts' expectations. In the 1st half, a pre-tax profit of EUR 3.3 billion was achieved, the best result since 2011. A share buyback program of EUR 450 million was also announced.
https://www.db.com/news/detail/20230726-deutsche-bank-veroeffentlicht-ergebnisse-zum-zweiten-quartal-2023?language_id=3
$P911 (-1,65%) Porsche earns slightly more than expected, however the Taycan is not selling well in China. The electric Macan also cannot yet be sold. Despite good figures and confirmation of the forecast, the stock market is therefore going down a bit for the time being.
https://app.handelsblatt.com/unternehmen/industrie/-geschaeftszahlen-im-newsblog-mehr-umsatz-mehr-gewinn-o2-legt-bei-mobilfunkvertraegen-zu/24098412.html
$VOW3 (-2,46%) Volkswagen takes a 5% stake in XPENG, and the share price makes a huge leap upwards. With XPENG, the company wants to develop cars, especially for the Chinese market. Audi has already announced a cooperation with SAIC in recent days. In any case, the investment has already paid off for VW. After the announcement, the share price increased by 30%.
https://www.spiegel.de/wirtschaft/kampf-um-markt-fuer-e-autos-vw-steigt-bei-china-startup-xpeng-ein-a-343ff70e-2cd2-4105-a5a2-3e4ce3e222cd
The #fed at raised the key interest rate to a range of 5.25 - 5.50%. This is the highest it has been in 22 years. Inflation in the USA is now at 3.0%. Only 1 percentage point away from the 2.0% target. Initially, there was no real reaction. Jerome Powell also left the further course of action open in the press conference. So there may be another interest rate hike in September.
https://app.handelsblatt.com/finanzen/geldpolitik/geldpolitik-fed-erhoeht-den-leitzins-auf-den-hoechsten-stand-seit-22-jahren/29280406.html
Also $MBG (-1,05%) Mercedes also raises its annual forecast, probably catching some investors on the wrong foot. Many market participants had rather expected forecast reductions in the automotive sector.
https://www.finanzen.net/nachricht/aktien/mehr-zuversicht-mercedes-benz-aktie-mercedes-benz-erhoeht-nach-solidem-zweiten-quartal-den-jahresausblick-12674100
Also $META (-5,26%) Meta delivers. The Group was still in a slumber during the winter, but now growth fantasies seem to have reawakened. Here, too, the forecast has been raised.
https://stock3.com/news/meta-uebertrifft-die-erwartungen-12783323
Thursday:
The situation at VW is different from that at Mercedes. Profits continue to rise, but the sales forecast is capped. Profit and sales are expected to be achieved as planned. In the 2nd quarter, sales have increased by 15% to EUR 80 billion.
https://app.handelsblatt.com/unternehmen/industrie/autobauer-volkswagen-kappt-auslieferungsziel-operativer-gewinn-steigt-kraeftig/29281434.html
$KGX (-3,19%) raises its forecast again. EBIT up 11.7% year-on-year. Sales increase by 1.5%. Cash flow also improved significantly and debt was reduced. A capital increase thus appears to be off the table.
https://www.nebenwerte-magazin.com/kion-group-steigert-profitabilitaet/
The ECB also raises its key interest rate by 0.25 percentage points. This brings the key interest rate in the euro zone to 4.25%. Prices rose significantly immediately after the announcement. Presumably, some shorts were liquidated as a hedge.
https://www.handelsblatt.com/finanzen/geldpolitik/ezb-liveblog-so-erklaert-ezb-praesidentin-lagarde-die-neunte-anhebung-in-folge/29281808.html
The president leaves open what will happen in September. However, she emphasizes that a decision will be made based on new data. She also emphasizes that this time they are deliberately saying that they do not need to take any further steps. The current key interest rate could therefore be sufficient to limit inflation. Whether it was really the last rate hike depends on the further development of inflation. There is a lot to be said for it being the last rate hike in this interest rate cycle. Perhaps, however, there will still be surprising price drivers in the coming weeks.
https://www.ecb.europa.eu/press/pressconf/press_conference/html/index.de.html
Friday:
No real interest rate hike in Japan 🇯🇵 However, a step away from the ultra-loose interest rate policy. In Japan, the central bank controls the interest rates on government bonds. Officially, the yield curve here is 0.5%, but now they want to allow interest rates of up to 1.0%. The key interest rate remains at -0.1%.
https://app.handelsblatt.com/finanzen/geldpolitik/bank-of-japan-kurswechsel-light-der-minuszins-bleibt-aber-japans-notenbank-weicht-die-zinskurvenkontrolle-auf/29284196.html
$INTC (-4,45%) Intel convinces with its quarterly figures. Both the decline in sales and profits were below expectations. The share was therefore able to increase significantly.
https://app.handelsblatt.com/technik/it-internet/chiphersteller-umsatz-und-gewinnrueckgang-bei-intel-kleiner-als-befuerchtet/29283842.html
Key dates for the coming week:
Monday: 11:00 Consumer prices (EURO)
Tuesday: 16:00 Trade data (USA)
Wednesday: 14:15 Employment data (USA)
Thursday: 13:00 Interest rate decision (UK)
Friday: 11:00 Retail Sales (EURO)
