New Work

DE000NWRK013

NWO

NWO

As every Sunday, the most important news from the past week, as well as dates for the coming week.

Also as a video:

https://youtube.com/shorts/iHTX8_BcctA?si=KpuKic2vBBi9SY-R

Monday:

Burda Digital wants to acquire the majority $NWO in New Work SE. We are invested there with our value portfolio and will remain so for the time being. In our view, the offer is too low.

https://www.handelsblatt.com/technik/it-internet/new-work-burda-will-xing-betreiber-uebernehmen-und-von-der-boerse-nehmen/100042293.html

Consumer sentiment in the retail sector is improving significantly and has risen to a three-year high. According to the Bundesbank, there is also a chance that sentiment will recover faster than expected thanks to EM.

https://www.handelsblatt.com/politik/konjunktur/ifo-umfrage-stimmung-im-einzelhandel-und-bei-verbrauchern-steigt-vor-fussball-em/100042226.html

Things are also improving in the mechanical engineering sector. Orders are up again for the first time in a year and a half. Compared to April 2023, orders increased by double digits. Orders from abroad were the main reason for the increase in orders. However, the report is not yet an all-clear, as things were particularly bad in April 2023, the year of comparison.

https://www.handelsblatt.com/unternehmen/industrie/industrie-maschinenbau-erzielt-erstes-auftragsplus-seit-anderthalb-jahren/100042267.html

Tuesday:

The number of unemployed people in Germany 🇩🇪sinkt fell only slightly to 5.8%. There is usually a seasonal decline in spring, but this year it was particularly low. In May, the unemployment rate fell by only 0.2 percentage points compared to the previous month. Nevertheless, there are still many unfilled jobs in Germany. There were 702,000 vacancies in May.

https://www.handelsblatt.com/politik/deutschland/arbeitsmarkt-zahl-der-arbeitslosen-sinkt-nur-leicht-arbeitslosenquote-bei-58-prozent/100042529.html

Wednesday:

$BAYN (+3,44%) Bayer recovers significantly after a judge in the USA 🇺🇸 reduced a glyphosate fine from more than USD 2 billion to USD 400 million. Bayer still intends to appeal.

https://www.handelsblatt.com/unternehmen/handel-konsumgueter/glyphosat-prozess-bayer-zahlung-im-glyphosat-urteil-von-225-milliarden-auf-400-millionen-dollar-reduziert/100042812.html

The Bank of Canada 🇨🇦 announces the first interest rate cut in 4 years before the ECB. The key interest rate was lowered from 5% to 4.75%. This rate cut was expected by the market.

https://finanzmarktwelt.de/bank-of-canada-verkuendet-erste-zinssenkung-312271/

Thursday:

The ECB also cuts its key interest rates by a quarter of a percentage point to 4.25%. Deposit rates are now at 3.75% interest. For the ECB, this is the first cut in almost 5 years. This means that Switzerland, Sweden, Canada and the eurozone have already cut interest rates. The USA could follow suit in late summer.

https://www.handelsblatt.com/finanzen/geldpolitik/europaeische-zentralbank-ezb-senkt-zinsen-um-025-prozentpunkte/100042376.html

Friday:

In April, production in Germany surprisingly fell by 0.1%. The main reason for this is the poor situation in the construction industry. Compared to the same month last year, production fell by 3.9%.

https://www.handelsblatt.com/politik/konjunktur/industrie-deutsche-produktion-sinkt-im-april-ueberraschend-um-01-prozent/100043434.html

Key dates for the coming week:

Monday: 1:50 GDP figures (Japan)

Wednesday: 20:00 Interest rate decision (USA)

Friday: 05:00 Interest rate decision (Japan)

Restructuring New Work Se.

Fundamentally still a good company.

... and we are back again, true to the motto 'back and forth empties your pockets'.

No, we sold our position in New Work at the end of the year because the stock markets had generally risen and we wanted some cash.

Now we have seen the worst start to the year for 20 years and New Work has lost a lot of value, so we have picked up the company again as we are still convinced of its future prospects.

For us, the coming turnaround in interest rates speaks in favor of New Work, more investments are being made again and more people are being hired, which should benefit the company, which is operating profitably even now in the 'crisis'.

Yes, LinkedIn is tough competition, but New Work has repositioned Xing in good time and added another exciting platform to its portfolio in the form of Kununu.

Good divinde and undervalued at 47.1%.

First trade 2024

Good divinde and worth a purchase.