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Share prices

12/10/2020

A snapshot of bike and ATV industry share performance across key manufacturers and major global markets at the trading week closure on Friday 9 October 2020. BDN financial editor Roger Willis reports.

USA — HOPE ASCENDANT

US markets rallied, driven by vague hopes of Congress agreeing further stimulus for America’s stricken economy and polls suggesting the Democrats could capture both the Senate and House of Representatives, as well as the Presidency, in forthcoming elections. The only hiccup came on Tuesday afternoon, when a fever-crazed Tweet from President Trump demanding cancellation of any stimulus package — later retracted — caused a brief sell-off on Wall Street.                     

All key indices illustrated this upbeat mood. The S&P 500 and Dow Jones Industrial Average respectively closed on 3.8% and 3.3% weekly advances. S&P’s MidCap index did even better with a 4.9% boost.               

HOG-OMETER — FLASH THEN CRASH

The previous week’s good fortune for Harley-Davidson continued on Monday, adding 4.5% to its share price. And Tuesday was delivering more of the same until Trump’s aforementioned Twitter brainstorm sent investors running for cover. That resulted in a daily 0.8% loss. But the bulls were back in business on Wednesday and Thursday, respectively pushing the price up by 3% and then 5.2%.                       

However, a rise of slightly more than 27% to this $28.98 peak from Harley’s $22.78 nadir roughly a fortnight earlier proved to be too much of a temptation for short-term speculators. On Friday, they began to cash in their chips, provoking an abrupt 3.3% slump. More of them are likely to choose a profit-taking exit when trading resumes after the weekend.            

Currency: dollar

Price

Week

Month

Harley-Davidson

28.02

+8.6%

+0.9%

Polaris Industries

99.88

+1.1%

+7.8%

Textron

36.76

+2.9%

-5.1%

EUROPE — PERKED UP 

European sentiment was lifted by a number of factors. Analysts said reopenings in the travel and leisure sectors, along with strong market expectations for a Covid vaccine soon, were contributory elements. Germany’s benchmark Xetra Dax index in Frankfurt climbed by 2.9%.      

BMW rose for a second successive week and Volkswagen reversed four weeks on the back foot. KTM parent Pierer was positive too, by a somewhat smaller margin, as few of its euro-denominated shares changed hands on the Frankfurt Börse. Volumes were much higher on Zurich’s SIX exchange in Switzerland.      

Currency: euro

Price

Week

Month

BMW

64.44

+3.9%

+0.7%

Volkswagen

146.70

+2.4%

-7.9%

Pierer Mobility

51.00

+1%

-1%

Milan’s Borsa Italiana, which is in the process of being sold out of current London Stock Exchange ownership to the Euronext platform, brightened in parallel to Frankfurt. Its MIB index put on 2.8%. Primary reason was news that Italian industrial output has almost recovered to last year’s level, given Italy’s manufacturers came out of lockdown earlier than many major European competitors. That didn’t do Piaggio much good, though. Its shares flatlined, back where they were a month ago. Energica recouped a decent portion of recent horrendous losses.        

Currency: euro

Price

Week

Month

Piaggio Group

2.46

N/A

N/A

Energica Motor

1.61

+6.6%

-14.8%

JAPAN — RISING SUN SUNNIER 

Tokyo flipped from the previous week’s chaos into a more confident mood, as evidenced by a 2.6% gain for the Nikkei 225 index. The four Japanese motorcycle manufacturers all joined in a positive ride, with only Kawasaki trailing behind the market average.                                 

Currency: yen

Price

Week

Month

Honda

2582

+3.4%

-2.7%

Yamaha

1612

+4.5%

-4.9%

Suzuki

4473

+8.8%

+10.6%

Kawasaki

1402

+2.3%

-10.5%

INDIA — MAKING MERRY

Most Indian biker shares continued to make sound progress, thanks to booming festive-season sales figures released in the previous week. Only Norton parent and BMW Motorrad contract manufacturer TVS Motor blotted its copybook with an aberrant loss. But that was almost certainly associated with a bout of profit-taking in the wake of recent serial price advances.                 

Diwali’s generalised boost to consumption reaches further than auspicious seasonal motorcycle purchases, though. And overall investor confidence was reflected in a powerful 4.7% hike for Mumbai’s BSE Sensex stock index, the largest for any big global exchange in the past week.       

Currency: rupee

Price

Week

Month

Hero MotoCorp

3327.40

+5.6%

+11.2%

Bajaj Auto

3059.80

+2.5%

+4.9%

TVS Motor

471.50      

-1.8%

+6.1%

Eicher Motors

2217.95

+0.9%

+2.7%

Mahindra

633.20

+3.8%

+3.1%

CHINA — HOLIDAY HANGOVER

Chinese stock exchanges in Shanghai and Shenzhen only opened for a single session on Friday, following the conclusion of China’s Golden Week national holiday which had begun on 1 October. Trading activity was inevitably subdued in volumetric terms but post-vacation euphoria ensured positivity. In just that one day, Shanghai’s SSE Composite index stacked on 1.7%. The BDN Ten index of listed Chinese motorcycle producers beat that, rising by 2.3%.         

Currency: yuan

Price

Week

Month

Qianjiang

24.13

-0.4%

-7.5%

Zongshen

8.36

+4.2%

+1%

Sundiro

3.64

+0.8%

-3.7%

CETC Energy    

5.96

+4.2%

+2.3%

Lifan

5.85

+5%

+12.1%

Loncin

3.87

3.2%

-6.1%

Linhai

6.83

+1%

-4.2%

Guangzhou Auto

9.71

+2%

-4.2%

CFMoto

135.05

+2.2%

+4.7%

 

Currency: HK dollar

Price

Week

Month

Jianshe

4.66

+0.6%

+7.1%