Lufthansa CEO Carsten Spohr has high hopes for US President Donald Trump's second term! 🚀 While customs conflicts could pose risks for major customers such as Volkswagen $VOW (-0,15%) Spohr expects positive impetus for the aviation industry overall. ✈️ The US Federal Aviation Administration (FAA) in particular could position itself "pro-industry", which would benefit Boeing and Co. 🌍

However, Spohr also has big plans in Europe: Lufthansa $LHA (-0,44%) is aiming for market leadership through acquisitions and wants to drive growth through consolidation. 💼📈 The Lufthansa boss remains optimistic that the new German government will provide impetus for the German location. 🇩🇪 #Lufthansa
#Wachstum
#Trump
#Flughafen

Hello getquin community!

I recently came across this platform and signed up straight away to track my portfolio more clearly. For the most part, entering my transactions worked well, but I had to enter some positions manually, especially my gold savings plans (I use the average price to simplify this). Before I share my portfolio with you and look forward to your opinions and suggestions for improvement, I'd like to briefly introduce myself:

My name is Burhan, I'm 29 years old and I come from a town in North Rhine-Westphalia. I work in the insurance industry and am completing two part-time degree courses at the same time (because free time is overrated 😉):

• Business economist for financial services (until January 2025)
• Business administration with three specializations (until April/May 2025).

My way into the world of (small) investors:

I started investing - or rather, trading and chart analysis - when I was 18. Back then, I invested small amounts in leveraged products such as the DAX or WTI oil. Although I made more profits than losses during this time, I learned an important lesson: it is crucial to regularly check take-profit and stop-loss levels in order to avoid capital losses.

However, I only started investing for the long term in 2019. My first step was a savings plan with EUR 25 per month in a fund from Deka ($D6RM (-0,54%) ) - the first dividend I received was a small sense of achievement for me. Later came savings plans for individual shares ($LHA (-0,44%) and $SHA) and commodities ($965515 (-0,15%)) were added. I also used my employer's capital-forming benefits (EUR 40 per month) to further expand my investment in the Deka fund.

My current investment strategy:

Over the last few years, I have tried out and learned a lot and finally developed my personal strategy:

1. basic ETFs:

With the $VHYL (-0,58%) and the $FUSD (-1,38%) I would like to create a stable foundation.

2.
Individual shares:

Here I deliberately focus on non-US companies (with a few exceptions) in order to diversify my portfolio and reduce the US dominance somewhat.

My selection criteria for individual stocks:

• At least 30 % share price growth in the last 5 years.
• At least 10 years dividend history.
• 
  Dividend yield of either:

- approx. 1 %combined with an average dividend increase of 10 % over the last 5 or 10 years, or

- approx. 2,5 %combined with an average dividend increase of 5 % over the last 5 and 10 years respectively.

For example: $MS (-1,6%) / $GGG (-1%) / $CS (+0,45%) / $ASML (-0,72%) / $MUV2 (-0,6%) / $CNQ (-0,99%) / $MC (+0,4%) / $TKA (+0,24%) / $DHL (+0,55%)

3. Gold:

My gold savings plan is still running because diversification is important - and a little sparkle in the portfolio never hurts.

4. Cryptocurrencies:

The proportion is deliberately low and I plan to concentrate only on $BTC (+0,15%) in the future. Everything else will probably be dropped soon.

5. Cash:

Part of my capital is in a call money account so that I can react flexibly to opportunities or unexpected events - who knows when the next dip will come.

The aim of the asset class allocation:

- 37.50 % ETFs

- 37.50 % individual shares

- 10.00 % commodities

- 5.00 % cryptocurrencies

- 10.00 % Cash

In addition, a good deal is currently underway to buy real estate (purpose: rental) - I am still curious.

I hope my first post wasn't too long and that you've made it this far! 😉 I look forward to your feedback, opinions and tips - keep them coming!

Dilemma $LHA (-0,44%)

Guys, what do you think? The German Lufthansa is posting positive figures and also pays a decent dividend, but the share is falling and falling and analysts are not recommending buying. The headlines are also more negative than positive.

But if you only look at the figures, should the trend be upwards? This share is somehow a thorn in my side 🙈

Analyst updates, 04.12.

⬆️⬆️⬆️

- BARCLAYS raises the price target for SIEMENS from EUR 125 to EUR 130. Underweight. $SIE (-0,45%)

- BARCLAYS raises the target price for SIEMENS ENERGY from EUR 35 to EUR 36. Equal-Weight. $ENR (-4,27%)

- JEFFERIES raises the target price for ADYEN from EUR 1695 to EUR 1797. Buy. $ADYEN (-0,84%)

- JPMORGAN raises the target price for SALESFORCE from USD 340 to USD 380. Overweight. $CRM (-2,41%)

- HSBC raises the target price for ZALANDO from EUR 37 to EUR 40. Buy. $ZAL (-1,25%)

- JPMORGAN raises the target price for RHEINMETALL from EUR 680 to EUR 800. Overweight. $RHM (-1,89%)

- DEUTSCHE BANK RESEARCH raises the target price for COCA-COLA HBC from GBP 31.50 to GBP 32. Buy. $CCH (+0,93%)

- BARCLAYS raises the target price for KNORR-BREMSE from EUR 55 to EUR 60. Underweight. $KBX (+0,71%)

- BARCLAYS raises the price target for ABB from CHF 40 to CHF 42. Underweight. $ABBNY (-0,56%)

- BARCLAYS raises the price target for ALSTOM from EUR 8 to EUR 9. Underweight. $ALO (-2,19%)

- HSBC upgrades MERCK & CO to Buy. Target price USD 130. $MRK (+2,28%)

- JPMORGAN raises the target price for DSV from DKK 1685 to DKK 1800. Overweight. $DSV (-1,62%)

- JPMORGAN raises the target price for LUFTHANSA from EUR 4.80 to EUR 5.50. Underweig$LHA (-0,44%)

- UBS raises the target price for AROUNDTOWN from EUR 2 to EUR 3.30. Neutral. $AT1 (+0,28%)

⬇️⬇️⬇️

- JPMORGAN lowers the target price for DHL GROUP from EUR 47 to EUR 42.50. Overweight. $DHL (+0,55%)

- WARBURG RESEARCH lowers the target price for UNITED INTERNET from EUR 38.50 to EUR 37.30. Buy. $UTDI (+0,66%)

- WARBURG RESEARCH lowers the target price for 1&1 from EUR 23.50 to EUR 19.10. Buy. $1U1 (+1,37%)

- WARBURG RESEARCH lowers the target price for KWS SAAT from EUR 89 to EUR 88. Buy. $KWS (+1,18%)

- DEUTSCHE BANK RESEARCH downgrades HEINEKEN from Buy to Hold and lowers target price from EUR 95 to EUR 76. $HEIA (+0,74%)

- EXANE BNP lowers the price target for SCHOTT PHARMA from EUR 36 to EUR 28. Neutral. $1SXP (+1,99%)

- BARCLAYS downgrades SIGNIFY to Underweight. Target price EUR 18. $LIGHT (+0,14%)

- CFRA downgrades BRISTOL-MYERS SQUIBB to Hold. Target price USD 60. $BMY (+0,76%)

- MORGAN STANLEY downgrades MOLLER-MAERSK to Underweight. Target price DKK 12200. $AMKBY (-1,51%)

- BARCLAYS downgrades ANDRITZ to Underweight. Target price EUR 40. $ANDR (-1,04%)

- JPMORGAN lowers the price target for HAPAG-LLOYD from EUR 85 to EUR 80. Underweight. $HLAG (-0,6%)

Analyst updates, 05.11.

⬆️⬆️⬆️

- ODDO BHF raises the price target for BIONTECH from USD 110 to USD 130. Outperform. $BNTX (+3,14%)

- BARCLAYS raises the price target for AIRBUS from EUR 161 to EUR 165. Overweight. $AIR (-3,2%)

- CITIGROUP raises the price target for SCOUT24 from EUR 91 to EUR 94.50. Buy. $G24 (+0,64%)

- WARBURG RESEARCH raises the price target for REDCARE PHARMACY from EUR 174 to EUR 176. Buy. $RDC (-1,39%)

- DEUTSCHE BANK RESEARCH raises the price target for RYANAIR from EUR 17 to EUR 17.50. Hold. $RYA (-1,63%)

- BERNSTEIN rates EBAY from Market-Perform to Outperform. Target price USD 70. $EBAY (-0,09%)

- ODDO BHF raises the price target for SALZGITTER from EUR 14 to EUR 15.50. Underperform. $SZG (-3,59%)

- BARCLAYS raises the target price for COMMERZBANK from EUR 16 to EUR 17. Equal-Weight. $CBK (-0,9%)

- BARCLAYS raises the target price for MTU from EUR 295 to EUR 340. Equal-Weight. $MTX (-3,41%)

- MORGAN STANLEY rates LUFTHANSA to Equal-Weight. Target price EUR 7. $LHA (-0,44%)

- BERENBERG raises the price target for DEUTSCHE KONSUM REIT from EUR 3.50 to EUR 5. Hold.

⬇️⬇️⬇️

- GOLDMAN lowers the price target for MERCEDES-BENZ from EUR 65 to EUR 63. Buy. $MBG (-1,31%)

- UBS lowers target price for 1&1 from EUR 21.60 to EUR 21. Buy.

- WARBURG RESEARCH lowers the price target for GFT TECHNOLOGIES from EUR 40 to EUR 37.50. Buy. $GFT (-0,48%)

- HAUCK AUFHÄUSER IB lowers the price target for ECKERT & ZIEGLER from EUR 63.50 to EUR 55. Buy. $EUZ (-2,2%)

- BARCLAYS lowers the price target for BNP PARIBAS from EUR 90 to EUR 85. Overweight. $BNP (+0,41%)

- BERENBERG downgrades SCHNEIDER ELECTRIC from Buy to Hold and lowers price target from EUR 261 to EUR 255. $SU (+0,5%)

- BERENBERG lowers the price target for BEFESA from EUR 41 to EUR 31. Buy. $BFSA (-1,45%)

Analyst updates, 29.10. 👇🏼

⬆️⬆️⬆️

• JEFFERIES raises the price target for SAP $SAP (-1,87%) from EUR 230 to EUR 255. Buy.
• DEUTSCHE BANK RESEARCH raises the price target for DEUTSCHE TELEKOM $DTE (+0,67%) from EUR 33 to EUR 39. Buy.
• ODDO BHF raises the target price for ALLIANZ
  SE
  $ALV (-0,14%) from EUR 288 to EUR 324. Outperform.
• ODDO BHF raises the price target for DWS
  $DWS (+0,52%) from EUR 38 to EUR 39. Neutral.
• METZLER raises the price target for LUFTHANSA $LHA (-0,44%) from EUR 5.70 to EUR 6.40. Hold.
• METZLER raises the price target for NEMETSCHEK
  $NEM (-0,34%) from EUR 89 to EUR 91. Hold.
• METZLER raises the price target for FRIEDRICH
  VORWERK $VH2 (-3%) from EUR 29.20 to EUR 38. Buy.
• GOLDMAN raises the price target for SYMRISE $SY1 (+0,2%) from EUR 127 to EUR 131. Neutral.

⬇️⬇️⬇️

• BOFA lowers the price target for MUNICH
  RE
  $MUV2 (-0,6%) from EUR 550 to EUR 535. Buy.
• WARBURG RESEARCH lowers the price target for WACKER
  CHEMICALS $WCH (-0,13%) from EUR 136 to EUR 133. Buy.
• WARBURG RESEARCH downgrades STEICO
  $ST5 (-2,12%) from Buy to Hold and lowers target price from EUR 42 to EUR 29.
• METZLER lowers the price target for SALZGITTER $SZG (-3,59%) from EUR 17 to EUR 15.50. Hold.
• DEUTSCHE BANK RESEARCH lowers the price target for SGL
  CARBON $SGL (+0,73%) from EUR 10.80 to EUR 10.60. Buy.
• LBBW downgrades PHILIPS $PHIA (+2,11%) from Buy to Hold and lowers target price from EUR 30 to EUR 26.
• GOLDMAN downgrades ABB
  $ABBNY (-0,56%) from Buy to Neutral. Target price CHF 52.
• UBS lowers the price target for CARL ZEISS MEDITEC $AFX (-0,59%) from EUR 71 to EUR 65. Neutral.
• JPMORGAN lowers the price target for STMICRO
  $STMPA (-1,92%) from EUR 42 to EUR 35. Overweight.

Earnings summary this morning 👇🏼

$BP. (-1,13%)
| BP Q3 2024 Earnings

EPS Adj 13.89C (12.67C)

Adj Net $2.27B (est $2.05B)

Oper Cash Flow $6.16B (est $6.29B)

Net Debt $24.21B (est $23.28)

Plans 1.75B Share Buyback For Third Quarter

Sees 4Q Reported Upstream Production To Be Lower Vs Q3

$OMV (-0,15%) | OMV AG Q3 24 Earnings:

- Clean CCS Oper Profit EU1.10B (est EU1.05B)

- Clean CCS Net Income EU346M (est EU447.8M)

- Still Sees FY Organic CAPEX About EU3.8B (est EU3.68B)

- Sees FY Avg Production 330, 000 To 350, 000 BOE/D

$NOVN (+1,73%) | Novartis Q3 24 Earnings:

- Core EPS $2.06 (est $1.94)

- Net Sales $12.82B (est 12.68B)

- Net Sales Expected To Grow By 'Double Digit'

- Raises FY Outlook

- Now Sees FY Core Oper Income Growth In High Teens

$SAN (+1,62%) | Santander Q3 24 Earnings:

- Net Income EU3.35B (est EU3.17B)

- Net Interest Income EU11.23B (est EU11.57B)

- Net Loan - Loss Provision EU2.98B (est EU3.18B)

- Confident It'll Deliver On All Targets

$HSBA (+1,02%) | HSBC Q3 24 Earnings:

- Div/Shr 10C (est 10C)

- Net Interest Income $7.64B (est $9.25B)

- Sees Div payout Ratio Target Basis of 50% for 2024

- Announces Up $3B Buy Back

$ADS (-0,81%) | Adidas is optimistic after a strong third quarter and confirms a sales increase of 7.3% to 6.4 billion euros. Demand in Europe and growth in China are driving the development, while profits increase by 73.4% to 469 million euros.

$HYQ (-3,92%) | Hypoport increases revenue by 29% to 114 million euros in the third quarter and achieves an operating profit of 3.6 million euros, which is above analysts' expectations. The upturn in real estate finance is driving growth.

$LHA (-0,44%) | Lufthansa announces a savings program to increase adjusted operating profit by EUR 1.5 billion by 2026. Adjusted profit in the third quarter of 2024 falls by 9% to EUR 1.3 billion Deutsche Lufthansa AG expects an operating profit of between EUR 1.4 billion and EUR 1.8 billion for the full year 2024, after focusing on the cost structure in the third quarter. The share is benefiting from hopes of an easing of the Middle East conflict.

$CEC (-2,01%) | Ceconomy exceeds analysts' expectations with adjusted EBIT in the upper half of the range of 290 to 310 million euros. Sales increase by 5.3% to around 22.4 billion euros in the 2023/2024 financial year

$HFG (-0,1%) | HelloFresh Group achieves currency-adjusted revenue growth of 1.9% compared to the previous year and adjusted EBITDA ("AEBITDA") of €72 million

16.10.2024

Relief rally for airlines thanks to oil price + ASML more pessimistic for 2025 after disappointing order intake + Adidas and Puma in demand - strong quarterly figures expected + LVMH records a decline in sales in the third quarter + Ericsson share price jumps after figures

Airline shares were among the day's winners. Oil prices fell by up to 5 percent at the peak, leading to a relief rally. Lufthansa $LHA (-0,44%) rose by 3.2 percent. Oil prices were driven by reports that Israel would not target oil facilities in the event of a retaliatory attack on Iran. In the DAX MTU $MTX (-3,41%) jumped to an all-time high with a 4.9 percent gain. As hoped, the engine manufacturer raised its annual profit forecast slightly to over 1 billion euros.

The chip supplier ASML $ASML (-0,72%) is taking a more cautious view of 2025 after a disappointing order intake. The company announced on Tuesday that net sales are likely to be between 30 and 35 billion euros. ASML had previously expected 30 to 40 billion euros. Analysts previously expected an average of 36 billion euros. The gross margin is now expected to be 51 to 53 percent, compared to 54 to 56 percent previously. Market expectations had previously been just under 54 percent.

The shares of the sporting goods manufacturers Adidas $ADS (-0,81%) and Puma $PUM (+1,1%) posted above-average gains on Tuesday. Stock expert Frederik Altmann from Alpha Wertpapierhandel saw several reasons for this, even though "there is no solid news on the day". Strong quarterly reports are expected from both companies. In addition, both stocks are "China plays". The hope that the announced economic stimuli could rekindle consumer sentiment in China is also driving these two stocks. While Adidas rose by 1.4 percent to 239.90 euros in the Dax, Puma rose by 3.1 percent to 37.13 euros in the MDax. With a view to the upcoming quarterly figures, there was a positive commentary on Puma from Deutsche Bank in addition to an outlook from Metzler Bank. The bank reiterated its buy recommendation and expects the figures expected on November 6 to be a price driver. Adidas plans to report on the past quarter on October 29 - and could also surprise positively, as Warburg Research expects.

LVMH $MC (+0,4%) recorded a 4.4% drop in sales to 19.08 billion euros in the third quarter, which fell short of analysts' expectations. The shares of the luxury goods group fell by around six percent in after-hours trading. Luxury goods stocks such as Hermes, LVMH and Kering record losses of up to 3.5% in the EuroStoxx 50 due to concerns about the Chinese market. Richemont and Swatch in Zurich also lose 3.1% and 1.4% respectively.

The shares of Ericsson $ERIC B (-0,24%) rose significantly in early trading on Tuesday. The shares of the Swedish network equipment provider recently gained 8.5%. The stock thus continued the upward trend of the previous months at an accelerated pace. Just under a year ago, Ericsson achieved a technical turnaround, as a result of which the share price has almost doubled to date. In an initial assessment, analysts at Goldman Sachs spoke of slightly better than expected figures in the third quarter, but of a cautious outlook for the fourth quarter. The analysts at JPMorgan identified as a positive aspect that the better than expected figures were primarily due to the favorable shift in the composition of sales towards the USA. Another positive aspect was the improved free cash flow, which had increased further

Wednesday: Stock market dates, economic data, quarterly figures

Quarterly figures / company dates USA / Asia

12:45 U.S. Bancorp quarterly figures

13:30 Morgan Stanley | Abbott Labs quarterly figures

22:10 Alcoa quarterly figures

Quarterly figures / Company dates Europe

07:15 ASML quarterly figures | Just Eat Takeaway Trading Update 3Q

10:00 Swiss Re: Industry meeting in Baden-Baden (Call 10 a.m.)

No time specified: British American Tobacco Capital Markets Day

Economic data

• 08:00 UK: Consumer Prices September | Producer Prices September (Output) FORECAST: -0.3% yoy/-0.6% yoy previous: -0.4% yoy/+0.2% yoy
• 14:30 US: Import and export prices September import prices FORECAST: -0.3% yoy previous: -0.3% yoy

02.10.2024

Middle East escalation drives oil and armaments, airlines weak + Boeing considers billion-euro capital increase

Oil stocks benefited from the news of a possible conflagration in the oil-rich Middle East, as this is associated with the risk of a shortage of the raw material. Chevron $CVX (-0,58%) , Exxonmobil $XOM (-0,73%) and ConocoPhillips $COP (-3,4%) gained up to 2.4 percent in New York. In Europe Totalenergies $TTE (-1,26%) and Eni $ENI (-0,63%) rose by up to 1.4 percent. In times of war, it is also not unusual for arms manufacturers to see share price gains. In the USA, for example Lockheed Martin $LMT (+2,16%) and RTX $RTX (-1,21%) recorded gains of around 2.7 percent in some cases, while in Europe Rheinmetall $RHM (-1,89%) was particularly popular in Europe, with a rise of more than 5 percent. BAE Systems $BA. (-0,14%) were 3 percent higher.

The situation was different for shares in tourism groups and airlines. For the latter, the risks of higher kerosene prices are increasing. Some travel destinations may also be canceled for the time being and the risk of terrorist attacks is increasing. Investors in Tui $TUI1 (-1,21%) saw their share price fall by 2.5 percent. For the share price of Lufthansa $LHA (-0,44%) fell by more than 2 percent. IAG $IAG (-1,73%) lost 3.9 percent. Shares in US airlines such as American, Delta and United Airlines fell by up to 2.4 percent.

The US aircraft manufacturer Boeing $BA (-1,57%) is considering a capital increase in the double-digit billion range in its ongoing crisis, according to insiders. The company is considering issuing new shares worth at least 10 billion US dollars (just under 9 billion euros), the Bloomberg news agency reported on Tuesday, citing people familiar with the matter. The fresh money from shareholders is intended to fill the manufacturer's coffers, which are becoming ever emptier as a result of years of ongoing crisis with flight bans and production restrictions as well as the recent strike by tens of thousands of employees. A Boeing spokesperson declined to comment. According to insiders, it is likely to be at least a month before Boeing gets serious about such a capital increase

Economic data, quarterly figures

Stock market holiday in China

ex-dividend of individual stocks

Cisco Systems USD 0.40

Quarterly figures / company dates Europe

07:00 Grenke new business 3Q

09:00 Gea Group Capital Markets Day

No time specified: Totalenergies Investor Day - 2024 Strategy & Outlook

Economic data

• 11:00 EU: Labor market data August Eurozone Unemployment rate Forecast: 6.4% Previous: 6.4%
• 14:15 US: ADP Labor Market Report September Private Sector Employment PROGNOSE: +128,000 jobs previous: +99,000 jobs

01.10.2024

VW issues another profit warning + Fresenius relies on organic growth + Current share price targets

The renewed VW profit warning $VOW (-0,15%) pushed the shares down by 2.0 percent. Volkswagen is facing major challenges, including restructuring measures and margin pressure in both Europe and China, Metzler analysts noted. They also see the possibility of a considerable dividend cut. In the wake of the Volkswagen profit warning, major shareholder Porsche SE also had to withdraw its outlook for the year as a whole. The share lost 2.9 percent, Porsche AG $P911 (+0,35%) fell by 4.3 percent, Mercedes-Benz $MBG (-1,31%) and BMW $BMW (-0,12%) lost 2.4 percent each.

The CEO of the healthcare group Fresenius SE $FRE (+0,18%) Michael Sen, is focusing primarily on organic growth for the future. Sen did not rule out takeovers of competitors and start-ups in principle. "However, we can grow very well organically with our current portfolio - in other words, without investing a lot of capital. Because we are simultaneously deleveraging," said Sen in an interview with the Frankfurter Allgemeine Zeitung. Fresenius has not seen the organic growth rates in sales that it has seen in the last one and a half years, almost two years.

BARCLAYS RAISES TARGET FOR LUFTHANSA $LHA (-0,44%) TO EUR 9.50 (7.50) - 'OVERWEIGHT'

JPMORGAN CUTS MUNICH RE $MUV2 (-0,6%) TO 'NEUTRAL' (OVERWEIGHT) - TARGET 520 EUR

Stock market dates, economic data, quarterly figures

ex-dividend of individual stocks

Fortum EUR 0.57

Telephone L.M.Ericsson (B) SEK 1.35

Air Products & Chemicals USD 1.77

State Street 0.76 USD

Quarterly figures / company dates USA / Asia

22:15 Nike Quarterly figures

Quarterly figures / company dates Europe

13:00 Traton Capital Markets Day | KPN Extraordinary General Meeting

19:00 Nokia Extraordinary General Meeting

No time specified: Biontech Innovation Series: AI Day

Stock exchange holiday in Hong Kong, China and South Korea

Economic data

• 09:45 IT: Purchasing Managers' Index/PMI manufacturing September FORECAST: 49.0 previous: 49.4
• 09:50 FR: Purchasing Managers' Index/PMI Manufacturing (2nd release) September FORECAST: 44.0 1st release: 44.0 PREV: 43.9
• 09:55 DE: Purchasing Managers' Index/PMI Manufacturing (2nd release) September FORECAST: 40.3 1st release: 40.3 previous: 42.4
• 10:00 EU: Purchasing Managers' Index/PMI manufacturing Eurozone (2nd release) September FORECAST: 44.8 1st release: 44.8 Previous: 45.8
• 10:30 UK: Purchasing Managers' Index/PMI Manufacturing (2nd release) September FORECAST: 51.5 1st release: 51.5 previous: 52.5
• 11:00 EU: Euro-zone Consumer Prices (flash estimate) September Euro-zone PROGNOSE: 0.0%gg month/+1.8% yoy previous: +0.1%gg month/+2.2% yoy Core (excl. energy, food, alcohol, tobacco) PROGNOSE: +0.2%gg month/+2.8% yoy previous: +0.3%gg month/+2.8% yoy
• 15:45 US: Purchasing Managers' Index/PMI manufacturing (2nd release) September PROGNOSIS: n/a 1st release: 47.0 previous: 47.9
• 16:00 US: Construction Spending August PROGNOSE: +0.2% yoy previous: -0.3% yoy | ISM Manufacturing Index September FORECAST: 47.2 points previous: 47.2 points