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In the morning: Volkswagen, Sonova, Boeing and Royal Caribbean in focus – Nord LB column

The German companies are planning to hire new staff again. The Ifo employment barometer improved in September by 0.9 to 96.3 points, the fifth time in a row. That is the highest value since February. IT service providers in particular are planning to hire more staff.

The turnover of the commercial economy in Germany was seasonally and calendar adjusted in August by 1.3% lower than in the previous month. For the first time after three increases in a row, industry, construction, retail and service providers have less revenue. The current value is 4.7% lower than in February. Since the value is an early indicator, late registrations can increase the result.

Swiss GDP fell less sharply than expected in Q2. The economic performance of the Confederates fell by 7.3% (previous forecast: -8.2%) compared to the previous quarter. Compared to the same quarter of the previous year, GDP only shrank by 8.3% instead of 9.3%. The smaller minus is mainly due to a benchmark revision, which in some cases led to a significant change in historical data.

Bond market

Strong gains on the stock markets initially caused German government bonds to decline. The trend-setting BundFuture contract later succeeded in making up for the losses from early trading. The continued high number of new infections in the corona pandemic in Europe provided support. US Treasuries remained little changed yesterday. There was no moving news from the business side. A generally friendly mood in the financial markets determined what was happening.

Stock market

The traffic light on the German stock market was symbolically green. After the significant price drops in the previous week, investors returned to the trading floor. Shares in cyclical companies were particularly popular. DAX + 3.22%, MDAX + 1.94%, TecDAX + 1.75%.

After the longest series of losses in a year, bargain hunters took hold of the US stock exchanges. Dow Jones + 1.5%; S&P 500 + 1.6%; Nasdaq Comp. + 1.9%. In demand were stocks that had recently come under particularly strong pressure. These included banking stocks like JPMorgan and Goldman Sachs, up up to 3%. Travel values ​​were also on the shopping list: The shares of airlines were quoted up to 5.2% higher, while cruise companies like Royal Caribbean still managed to gain up to 2.3%. Boeing formally took off with a plus of 6.4% after the head of the US aviation regulator Dickson said his agency would test the 737 MAX aircraft.

Nikkei-225 is currently stable at 23,587.33 points.

Companies

VW wants to boost business in China with billions in investments in electric mobility. Together with its three joint ventures FAW Group, SAIC Motor and JAC, VW plans to invest around EUR 15 billion in this area in China between 2020 and 2024, it said. In October, the production of e-cars will start in two plants in China. VW expects sales of e-cars in China to double next year.

Due to a faster than expected recovery in business activities, which were slowed down by the corona restrictions, hearing aid manufacturer Sonova has raised its forecast. The company expects sales in the first half of FY 2020/2021 to reach around 79% of the previous year’s level. The adjusted EBITA margin will be around 15%. A return to growth with an increase of 4% -8% in sales and of 20% -30% in adjusted EBITA is expected for the second half of the financial year. the same period last year expected.

currency

After the significant losses of the previous week (-1.75%), the euro stabilized at the beginning of the week and achieved slight gains over the course of the week.

Oil / gold

Oil prices showed little movement on Monday. After a slightly negative start, things rose moderately from noon. There is currently a lack of price-moving impulses on the oil market. Boredom also with the gold price, which hovered around the day before.

Disclaimer: This text is a column of the North LB. 4investors is not responsible for the content of the column and therefore does not necessarily have to agree with the opinion of the 4investors editorial team. Any liability and claims are therefore expressly excluded by 4investors!

At a glance – chart and news: Volkswagen (VW) Vz.

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