Consumer confidence in the US falls to its lowest level in 4 years + Tui nears previous week's high on capital market day + Wacker Neuson targets higher earnings after a weak year + Aroundtown makes a profit again
Consumer confidence in the USA falls to its lowest level in 4 years
- Consumer sentiment in the USA has fallen to its lowest level for four years.
- The consumer indicator fell by 7.2 points to 92.9 points, according to the Conference Board market research institute in Washington on Tuesday.
- This is the lowest value since the beginning of 2021.
- Economists had expected a fall to 94.0 points.
- However, the figure for January was revised upwards from 98.3 to 100.1 points.
- Consumer expectations deteriorated particularly sharply in March.
- However, the assessment of the current situation also deteriorated noticeably.
- US President Donald Trump's erratic tariff policy is causing fears about future inflation and economic development to grow.
- According to the Conference Board, concerns about economic development and the labor market are also having an increasing impact on people's assessment of their personal situation.
- The recent optimism about future income development has also largely disappeared.
- Persistent inflation, high financing costs and a weaker labor market are weighing on the finances of private households.
Tui $TUI1 (-1,86%)approach previous week's high on capital market day
- Tui shares became the biggest MDax gainer on Tuesday in view of the Capital Markets Day.
- The shares recently rose by almost four percent.
- At 7.49 euros, the share price approached the previous week's high of 7.54 euros, the highest level in six weeks.
- Analyst Oliver Wojahn from MWB Research spoke of positive signals at the investor event.
- Despite the subdued consumer sentiment in the European core markets, robust demand for travel was emphasized.
- Building on improved credit ratings and the continued focus on profitable growth and cash inflow, the expert mentioned that Tui intends to define a strategy for returns to shareholders by the end of the fiscal year.
Wacker Neuson $WAC (+2,07%)targets higher earnings after a weak year
- After a difficult year, construction equipment manufacturer Wacker Neuson is aiming for higher earnings thanks to its cost-cutting program.
- The company announced in Munich on Wednesday that it aims to increase its earnings before interest and tax margin to between 6.5 and 7.5 percent in 2024.
- Last year, the operating margin slipped from 10.3% to 5.5% - the final quarter was therefore weaker than analysts had estimated.
- Turnover fell by 16 percent to 2.23 billion euros.
- This year, revenue is expected to remain more or less stable in a range between EUR 2.1 and 2.3 billion.
- Last year, Wacker Neuson struggled with the weak economy in Germany and Europe and had to lower its annual forecasts twice.
- Net profit fell by 62 percent to EUR 70.2 million. The dividend is to be cut from EUR 1.15 a year earlier to 60 cents.
Aroundtown $AT1 (+4,05%)makes a profit again
- The commercial real estate specialist Aroundtown was back in the black last year.
- On balance, the profit attributable to shareholders amounted to just under 53 million euros in 2024, as the MDax company announced on Wednesday.
- In the previous year, a significant devaluation of the real estate portfolio resulted in a loss of almost two billion euros.
- A decision on whether the company will pay a dividend again is to be made before the Annual General Meeting in June.
- Net rental income shrank by one percent to 1.18 billion euros due to the sale of properties.
- On a comparable basis, rents increased by 2.9 percent.
- The operating profit (FFO1) fell by five percent to just under 316 million euros.
- In addition to the lower number of properties, the perpetual bonds also had a negative impact here.
- For the current year, the real estate group is aiming for a further decline in operating profit and is forecasting between 280 million and 310 million euros.
Wednesday: Stock market dates, economic data, quarterly figures
- ex-dividend of individual stocks
- TotalEnergies EUR 0.79
- Neste 0.20 EUR
- Telephone L.M.Ericsson SEK 1.43
- Quarterly figures / company dates Europe
- 07:00 Commerzbank Annual Report | Aroundtown
- 07:00 Wacker Neuson Annual results
- 07:30 Renk annual results
- 07:30 Port of Hamburg | Koenig & Bauer Annual results
- 08:00 Jost Werke Annual Results and Annual Report
- 08:30 Porsche Automobil Holding Annual results
- 09:00 EnBW Annual results
- 10:00 Carl Zeiss Meditec AGM | Porsche Automobil Holding BI-PK
- 10:30 EnBW BI-PK
- 11:00 Jost Werke Analyst Conference
- 14:00 Renk | EnBW Analysts' Conference | Imperial Brands Capital Markets Day
- 17:50 Pirelli annual figures
- 18:00 Flatexdegiro Annual Report | Amadeus Fire detailed annual figures
- Economic data
08:00 DE: Public sector debt 4Q
08:00 UK: Consumer prices February FORECAST: +0.5% yoy/+2.9% yoy previous: -0.1% yoy/+3.0% yoy Core consumer prices FORECAST: +0.6% yoy/+3.7% yoy previous: -0.4% yoy/+3.7% yoy
08:45 FR: Consumer Confidence March FORECAST: 94 previous: 93
13:30 US: New orders for durable goods February FORECAST: -1.0% yoy previous: +3.2% yoy
15:30 US: Crude oil inventories data (week) from the Energy Information Administration (EIA) previous week
18:10 US: Fed St. Louis President Alberto Musalem, speech at Paducah Area Chamber of Commerce luncheon
