As every Sunday, the most important news from the past week, as well as the most important dates for the coming week.
Also as a video:
https://youtube.com/shorts/N2Ux73t4Z70?si=qkahQMBuwcfTOfpx
Monday:
Another increase in orders for German industry, orders rose by 0.2% in September. A decline of one percent was expected. However, the August figures had to be revised downwards significantly. In addition, different sectors are developing very differently. Mechanical engineering is doing much better than vehicle construction.
Sentiment in companies has fallen to its lowest level since 2020. The Purchasing Managers' Index fell to 46.5 points. The worst it has been in 35 months. Less than 50 points signal an economic contraction.
$RYA (-0,9%) Ryanair achieves a record profit and introduces a regular dividend. In future, 25 % of profits will always be distributed. Previously there were only special dividends. The company is benefiting from high demand and expects a profit of between EUR 1.85 and 2.05 billion for the financial year.
$BNTX (+0,04%) Biontech remains profitable despite a slump in demand for vaccines. A profit of EUR 161 million was achieved in Q3. The sales forecast for 2023 has been reduced from EUR 5 billion to EUR 4 billion.
Tuesday:
$EVK (-1,08%) Evonik makes sales of EUR 4.9 billion, 23% less than in the same quarter last year. The bottom line was a loss of EUR 96 million. The forecast is maintained.
In contrast to the other western industrialized nations, Australia is raising its key interest rates to 4.35 %. Inflation remains stubbornly high and is not yet in the 2 - 3 % range.
https://www.ft.com/content/60aa314b-b8e2-4299-ac0e-d212f6d1ae0b
$O2D (-1,09%) Telefonica Deutschland is fully taken over by the parent company. The share price rises again as a result. The Spanish parent company offers the minority shareholders a price of EUR 2.35 per share in this squeeze-out. A premium of more than 37% on the previous share price.
Wednesday:
$BAYN (-1,7%) Bayer disappoints with its quarterly figures. Instead of an expected EBITDA of EUR 1.725 billion, it was only EUR 1.685 billion. Sales slumped by 8% due to the poor performance of the agricultural division. Bayer is nevertheless sticking to its forecast. We continue to hold on to Bayer in our public portfolio, things can hardly get any worse.
The $DHL (-0,9%) DHL Group has been accused of conservative forecasts by analysts. However, they were probably not conservative enough. The Group had to cut its forecast. The maximum EBIT for 2023 is now only EUR 6.6 billion. Revenue fell by almost a fifth to EUR 19.4 billion in the third quarter.
Retail sales in the eurozone continue to fall. In September, the figure was 0.3 % down on the expected 0.2 %. Nevertheless, the stock market was able to continue its successful trend reversal today.
https://stock3.com/news/eur-usd-eu-einzelhandelsumsaetze-gehen-zurueck-13542061
Thursday:
Inflation in China remains at a low level. According to the National Bureau of Statistics, core inflation is at 0.6% (excluding food and fuel). Imports also rose significantly, while exports shrank. Foreign direct investment was negative for the first time ever. The days of Chinese investors buying up a new company every week seem to be over for the time being.
https://www.n-tv.de/wirtschaft/der_boersen_tag/Anstieg-der-Inflation-in-China-article24519017.html
The announcement by $ADYEN (+1,51%) Adyen to become more profitable boosted the share price on Thursday.
Fed Chairman Jerome Powell explained in a speech at the IMF meeting that the monetary authorities are not convinced that interest rates are sufficiently restrictive. In other words, there may well be further interest rate hikes. This depressed sentiment on the stock market.
Friday:
Allianz $ALV (+0,29%) Allianz makes significantly less profit. Operating profit slumped by 14.6% to EUR 3.5 billion in the past quarter. This was mainly due to storms in the Alps in the summer.
$JUN3 (-0,32%) Jungheinrich only reports a slight increase in incoming orders. Analysts had expected more. EBIT fell by 1% to EUR 103 million.
Poor consumer confidence data from the USA, the value was 60.4, 63.7 was expected, mainly due to higher consumer inflation expectations.
The most important dates for the coming week:
Monday: 11:00 Growth forecast (EU)
Tuesday: 11:00 Economic Sentiment (DE)
Wednesday: 03:00 Retail Sales (China)
Thursday: 14:30 Manufacturing Index (USA)
Friday: 14:30 Building Permits (USA)
