In the morning: Daimler, K + S, Engie and US politics in focus – Nord LB column

In August, German industry recorded an increase in orders for the fourth time in a row. Orders grew surprisingly by 4.5% (abroad: + 6.5%, domestic: + 1.7%) compared to the previous month, announced the Federal Ministry of Economics. In addition, the July growth was revised upwards from 2.8% to 3.3%. Despite the strong numbers, orders are still 3.6% below the level of February, the month before the start of the corona-related restrictions.

German industrial companies are looking ahead with more confidence. The production expectations for the coming months improved by 5.2 to 20.8 points in September, announced the Ifo Institute on the basis of its monthly economic survey. While car manufacturers were significantly more optimistic with 53 (Aug .: 48) points, the mechanical engineering companies remained very cautious with an increase to 3 (Aug .: 2) points.

Bond market

The prices of German government bonds found no clear direction on the reporting day and closed only slightly changed. Safe investments were in demand after the cancellation of the talks about a further economic stimulus program, so that the prices of US treasuries rose.

Stock market

The German stock market was in an inconsistent state on Tuesday. DAX + 0.61%, MDAX -0.14%, TecDAX -0.41%. Positive statements from Deutsche Bank boss Sewing ensured a price increase of 5.71% and the top position in the leading index.

The US President’s cancellation of negotiations on an additional Corona aid package and Fed Chairman Powell’s warning of a sluggish economic recovery have pushed the US stock exchanges into the red. Dow Jones -1.34%, S & P-500 -1.40%, Nasdaq-Comp. -1.57%. Nikkei-225 is currently a little lighter at 23,390 points (-0.19%).


Car sales at Daimler in Q3 increased by almost 4% compared to the same quarter of the previous year to 613,777 vehicles. With sales of 1.59 million vehicles, the minus for the full year is reduced to 10% by the end of September. As Daimler further announced, the return at Mercedes should be stabilized in the coming years with less expenditure and investments. By 2025, fixed costs are to be reduced by more than 20% compared to the previous year by reducing capacities and personnel costs. At the same time, higher prices are to be enforced and more recurring sales are to be achieved. The development of electric drives is also to be accelerated.

K + S has finalized the announced sale of its salt business in North and South America. The business will be sold to the US group Stone Canyon Industries for US $ 3.2 billion. “With the sale of our American salt business, we are taking a giant step in reducing debt,” said CEO Lohr. K + S will now even be able to reduce liabilities by significantly more than the planned EUR 2 billion. “We are thus creating a solid financial basis for the sustainable development of the company,” Lohr continued. K + S wants to focus on the business with mineral fertilizers u. Concentrate special fertilizers.

The French utility Engie wants to sell 29.9% of its stake in Suez and thus the majority of its share package to Veolia. This would pave the way for the French water and waste company Veolia to take over competitor Suez. Veolia immediately announced a EUR 11 billion voluntary takeover offer for Suez, but affirmed that they wanted to get the green light from the rival’s leadership first. Suez management has so far described the rival’s advances as unwelcome.

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: Daimler


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