$TKA (+4,6%) What do you think - the start of a rally or will it end after the spin-off? Currently up 20%.

Bank of America (BofA) has put together a basket of stocks to list the winners of the German infrastructure package.

The basket contains 14 stocks that the US bank expects to benefit in particular.

• The German technology group Siemens
  $SIE (-0,16%) (weighted at 10.3 percent, as of August 21)
• The French construction group Eiffage $FGR (-1,32%) (9 percent)
• The German building materials manufacturer Heidelberg Materials
  $HEI (-1,56%) (8.8 percent)
• The German energy technology group Siemens Energy $ENR (-2,33%) (8.6 percent)
• The German truck manufacturer Daimler Truck
  $DTG (+0,42%) (8.4 percent)
• The Italian building materials company Buzzi S.p.A.
  $BZU (-1,22%) (7.9 percent)
• The Swiss cement group Holcim $HOLN (-2,72%) (7.6 percent)
• The Swiss chemicals group Sika AG $SIKA (+1,2%)
  
  (7.4 percent)
• The German forklift manufacturer Kion
  $KGX (-1,31%) (6.7 percent)
• The French communications and energy company Spie $SPIE (-1,64%) (6.4 percent)
• The German industrial group Thyssen-Krupp $TKA (+4,6%) (6.4 percent)
• The German wind turbine manufacturer Nordex
  $NDX1 (-0,88%) (4.6 percent)
• The Swedish steel group SSAB $SSAB A (+5,62%)
  
  (4.1 percent)
• The German industrial services provider Bilfinger
  $GBF (-1,04%) (4.0 percent)

Hopes for the infrastructure package have already caused the shares to rise significantly in some cases in recent months. Since the beginning of the year, the shares included in the basket have risen by around 47 percent. BofA has been offering the share basket to its major clients since the beginning of July.

Despite the jump in the prices of many infrastructure stocks in the first half of the year, BofA manager Klein is confident that the stocks in the basket will continue to rise. According to him, it now depends on when the investments really show up in the profits of the companies.

Oliver Schneider, portfolio advisor at US asset manager Wellington, says: "In the past six to nine months, investor interest in infrastructure stocks has grown rapidly." This is particularly true for European investors.

He cites two factors that he believes will drive infrastructure stocks worldwide in the future. Firstly, there is a great need to modernize infrastructure. Secondly, the demand for electricity is growing due to artificial intelligence. Schneider says: "This is a growth topic that will be with us for the next ten to 20 years."

Source: Text (excerpt) & graphic, Handelsblatt 01.09.25

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$TKA (+4,6%)
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$DE (+0,61%)
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$TKA (+4,6%) I held on to Siemens and unfortunately sold Siemens Energy too early at a loss...you know what happened to it.

With Thyssen I tend to sell beforehand and then only buy TKMS. The share price often falls below the ipo price in the short term. Any opinion on this?

Thyssenkrupp: CEO Miguel López receives new contract until 2031

Miguel López, the CEO of Thyssenkrupp $TKA (+4,6%)has received a new contract until 2031. Under his leadership, the Group is planning a fundamental reorganization into a holding structure with five independent companies. This ambitious strategy promises a breath of fresh air, but also brings with it conflicts with employee representatives. Jürgen Kerner, the deputy head of IG Metall, has already announced that he will vote against the contract extension. Despite this resistance, Siegfried Russwurm, Chairman of the Supervisory Board, is optimistic and praises López for the progress he has made in the strategic realignment of the company over the last two years. The next few years could be decisive for the future of Thyssenkrupp as the CEO tries to reconcile the various interests.

Steel industry: ArcelorMittal halts plans for climate-friendly steel plants

In the USA, ArcelorMittal $MT (+1,18%) has halted its plans for climate-friendly steel plants in Germany for the time being. The German government had provided billions in generous subsidies to support the industrial transformation, including the conversion of production processes to new energy sources. The plan was for ArcelorMittal to receive 1.3 billion euros in subsidies for the Bremen and Eisenhüttenstadt sites to build modern electric arc furnaces. These were to be operated with renewable electricity and use a higher proportion of recycled scrap. A direct reduction plant was also planned in Bremen, which would initially run on natural gas and, in the long term, on green hydrogen. The decision to shelve the plans for the time being is a setback for efforts to make steel production more sustainable and raises questions about the future of the industry.

Sources:

https://www.manager-magazin.de/unternehmen/industrie/thyssenkrupp-ceo-miguel-lopez-erhaelt-neuen-vertrag-bis-2031-a-1eeed719-74b2-493f-9cc1-c4a57465084e

https://www.manager-magazin.de/unternehmen/industrie/stahlindustrie-arcelormittal-stoppt-plaene-fuer-klimafreundliche-stahlwerke-a-421ccff2-2854-4b10-8da2-7ca91769c3d6

It doesn't stop...

Donald Trump has announced that he will increase import tariffs on steel and aluminum from 25% to 50%. This measure will come into force on June 4, 2025 and will also affect imports from Germany and the EU.

🔍 Background:

• Trump justified the tariff increase with the protection of national security and the strengthening of the US steel industry.
• In a speech at US Steel in Pennsylvania, he emphasized that tariffs are his "absolute favorite word".
• The measure affects imports from countries such as Canada, Brazil, Mexico, South Korea and Germany.

📈 Effects:

• Importing steel products into the US is likely to become more difficult with the doubling of tariffs.
• Prices for steel in the USA could rise in the medium term, which could have an impact on the construction and automotive sectors.
• Germany, the leading steel producer within the EU, exported around one million tons of steel to the US in 2023.

🌍 International reactions:

• Canada's Chamber of Commerce criticized the tariff increase as costly for both countries.
• Australia described the move as "unjustified and not the act of a friend".

Proposal for his tombstone:

🪦 Here rests Donald J. Trump

"Tariffs were my favorite word - now I'm paying the last tax." 💸🇺🇸

$TKA (+4,6%)
$SZG (+9,48%)
$MT (+1,23%)
$OUT1V (+6,83%)
$SSAB A (+5,62%)

Source: https://www.br.de/nachrichten/deutschland-welt/trump-will-stahl-zoelle-auf-50-prozent-verdoppeln,UmiOkwN

$TKA (+4,6%)

Thyssenkrupp wants to transform itself into a strategic holding company with independent business units and in the process majority shareholdings in the individual divisions.

🔹 Business units such as Marine Systems, Materials, automotive parts and Decarbon Technologies are to be made fit for the capital market and made partly independent.

🔹 The spin-off of Marine Systems has already been initiated, an IPO is planned for this year planned this year.

🔹 Goal: more flexibility flexibility, transparency and added value

🔹 A final target image is to be presented to the Supervisory Board by the end of the financial year be presented by the end of the financial year.

🔹 According to "Bild", the aim is to transform the company into a financial holding company to sell further parts and reduce the size of the Management Board.

📈 Positive market reaction: The share price rises.

🗣️ DZ Bank analyst Dirk Schlamp sees the plans as a consistent continuation of the transformation course - with long-term potential, but short-term implementation risks.

USA: Court orders Chevron to pay compensation for environmental damageA court in the USA has ordered Chevron $CVX (-0,2%) to pay damages after the company was held responsible for serious environmental damage. An investigation by the non-governmental organization Lowlander Center found that Chevron had dug channels to reach oil and gas rigs in the Gulf of Mexico. These interventions have severely impaired the natural flow of water in the surrounding wetlands. During extreme weather events, the ocean's water masses could now flow unhindered inland instead of being dispersed in the wetlands, which could have disastrous consequences for the local flora and fauna. A law dating back to 1978 obliges companies to dismantle and recultivate used areas after the end of operations. However, Chevron failed to obtain the necessary permits and remove the legacies, resulting in significant contamination from improperly stored wastewater that was released unchecked into the environment.

Thyssenkrupp terminates supply contract with supplier HKMThyssenkrupp $TKA (+4,6%) has terminated the supply contract with the supplier HKM, causing uncertainty among the affected employees. However, the company emphasizes that the supply of primary material to its shareholders remains secured until further notice. Despite the dismissal, there are currently no immediate effects on the continued operation of HKM. In the morning, around 1000 employees of HKM and other Duisburg steel companies protested in front of Thyssenkrupp's headquarters. IG Metall expressed serious concerns about possible job losses and an imminent closure of the plant, further increasing employees' worries about their future. The situation remains tense and all eyes are on the upcoming decisions that could have a significant impact on the future of the steel industry in Duisburg.

Sources:

https://www.manager-magazin.de/unternehmen/industrie/usa-gericht-verurteilt-chevron-zu-schadensersatz-fuer-umweltschaeden-a-e999ccc6-0c14-4673-8786-d47405c81d69

https://www.manager-magazin.de/unternehmen/industrie/thyssenkrupp-kuendigt-liefervertrag-mit-zulieferer-hkm-a-53d2ff1a-129d-4c39-af56-49ef463d907f