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In the morning: Bayer, Lockheed Martin, Shell and Tele Columbus in focus – Nord LB column

The mood among German exporters brightened somewhat at the end of the Corona year. The export expectations of the industry rose to plus 1.4 points in December from minus 1.0 points in the previous month, as the Ifo Institute announced. “The German export industry is cautious about the first quarter of 2021,” said Ifo President Fuest. “Too many uncertainties, such as the unresolved Brexit, are weighing on the outlook.” The manufacturers of electrical equipment are now reporting on their export business with great optimism. In mechanical engineering and the chemical industry, too, companies are anticipating increasing foreign sales.

Despite the high national debt, the Japanese government has put together a record budget in the fight against the consequences of the corona crisis. For the budget year starting in April 2021, a budget of 106.6 trillion. Yen (around EUR 845 billion) has been passed. It provides for record high spending on social affairs and defense. More than a third of the income is said to come from new debt. Parliament still has to approve the plans.

In the USA, after a long struggle, the way is clear for corona aid worth billions. Overall, the stimulus package will amount to around USD 900 billion.

Bond market

The spread of a new variant of the coronavirus in the UK led to heightened pandemic fears. The prices of German government bonds rose in this environment. US Treasuries failed to sustain initial price gains are only slightly changed from the market.

Stock market

Concerns about the coronavirus mutation weighed on the German stock market at the beginning of the week. In addition, there was still no progress in the Brexit negotiations. DAX -2.82%, MDAX -1.77%, TecDAX 1.87%.

The prices on the US stock exchanges have largely recovered from early losses. The agreement on a new economic stimulus package has almost offset the discounts due to the new coronavirus variant. Dow Jones + 0.12%; S&P 500 -0.39%; Nasdaq Comp. -0.10%. The Japanese stock exchange suffered price losses on Tuesday. The Nikkei-225 dropped 1.04% to 26,436 points.

Companies

The cable network operator Tele Columbus is to get a new major shareholder. A Morgan Stanley Infrastructure Partners company announced a voluntary public takeover offer at a price of EUR 3.25 per share. Tele Columbus and its anchor shareholder United Internet announced that they supported the transaction.

The US defense and technology group Lockheed Martin is expanding its space program with the purchase of the US rocket engine manufacturer Aerojet Rocketdyne. Lockheed Martin is taking over the company for around USD 4.4 billion. According to the company, $ 56 will be paid per Rocketdyne share.

Shell will write off an additional $ 4.5 billion on its oil and gas operations in the coming year. The production will be burdened by the mild winter in Europe and storms in the Gulf of Mexico, the capacity utilization of the refineries is suffering from the weak demand caused by the corona pandemic, it said.

Opel parent company PSA and Fiat Chrysler can join forces to form the fourth largest car manufacturer in the world. The EU competition watchdog gave the green light for the more than EUR 30 billion merger after concessions from the corporations.

Bayer sells another plant to the Chinese company WuXi Biologics. A German subsidiary of WuXi wants to use the facility to manufacture active ingredients for Covid-19 vaccines and other biologics. The transaction volume is around EUR 150 million.

currency

News of the spread of a mutated variant of the Corona virus in the UK has weighed on the euro and the British pound.

Oil / gold

Oil prices suffered from increased uncertainty about a new variant of the coronavirus. The gold price could not benefit from the renewed coronavirus uncertainty and has even given in slightly.

Livestream on December 14th, 2020 from 6 p.m .:

With Hans-Werner Sinn, former President of the Ifo Institute.

With Hans-Werner Sinn, former President of the Ifo Institute: Corona and the miraculous increase in money in Europe
– Here is the stream! –

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