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Share prices

29/12/2020

A snapshot of bike and ATV industry share performance across key manufacturers and major global markets at the trading week closure on Friday 25 December 2020. BDN financial editor Roger “Ebenezer Scrooge” Willis reports.

USA — BEGRUDGING FESTIVITIES

The behaviour of Yuletide celebrants very much sorts the wheat from the chaff in international equity markets. And New York investors are noted for being more serious about making money than others in allegedly Christian countries. The fact they reside in the world’s largest Jewish city outside of Israel has a bearing. There is a measure of resentment about wasting too much time on the birthday of a false Messiah. So Christmas Eve is a normal working day, allowing a four-session trading week with only Friday suffering enforced NYSE closure to eat plum pudding and pull crackers.  

But apart from an inevitably lower seasonal trading volume, Wall Street indices were also subdued by President Trump refusing to sign a $900bn stimulus package agreed by both Houses of the US Congress, designed to ameliorate Covid’s ongoing impact before US lawmakers prorogued until the New Year. The least-popular effect of that was unemployment benefit payments for several million Americans on the dole promptly ceased. 

Only S&P’s MidCap 400 stirred with anything ressembling confidence, putting on 1.2%. The blue-chip S&P 500 and Dow Jones Industrial Average languished close to flat, the former 0.2% down and the latter just 0.1% up. Among listed powersports players, Polaris was on the negative side of sentiment while Harley-Davidson eventually pulled back some of its recent decline.               

HOG-OMETER — CHRISTMAS BONUS?

After three consecutive weekly losses amounting to a painful 12.6% retreat, our Hog-ometer cut a further 0.4% from Harley-Davidson’s share price on Monday. However, the speculative mood then flipped to positivity, adding 2.1% on Tuesday and 3.4% on Wednesday. Such largesse suddenly came to a halt on Thursday, though. When the NYSE’s closing bell rang time on a fore-shortened final session at 1pm, the price had fallen back by 1.2%. 

Currency: dollar

Price

Week

Month

Harley-Davidson

37.11

+3.9%

-9.2%

Polaris Industries

98.73

-0.5%

+3.3%

Textron

48.07

+1.5%

+2.6%

EUROPE — GLÜHWEIN GARGLE 

European stockbrokers were only scheduled to do three days’ work anyway, packing up before Christmas Eve — when mainland Europe actually beholds the Virgin Birth. And the previous week’s rally, driven by Brexit-deal optimism, petered out on very thin trading. Frankfurt’s Xetra Dax index had turned sour by 0.3%, before investors departed to drown their sorrows in the various disgusting things Germans drink at Weihnachten.

BMW, with the most exposure to any last-minute glitch in the Brexit deal because it has three English factories, also fell slightly. But Volkswagen and KTM parent Pierer Mobility both retained a credibility — the latter rising for an eighth consecutive week.     

Currency: euro

Price

Week

Month

BMW

73.42

-0.7%

+0.6%

Volkswagen

169.80

+3.3%

+5.4%

Pierer Mobility

64.00

+2.4%

+18.5%

Posing a very mild contrast, the Borsa Italiana’s MIB index in Milan rose by 0.7%, also across only three days prior to god-bothering frenzy. But there was hardly any serious trading activity, under the shadow cast by festivities cancelled through Italy’s renewed nationwide Covid lockdown.            

Currency: euro

Price

Week

Month

Piaggio Group

2.70

+2.3%

+0.7%

Energica Motor

1.83

+0.5%

-4.7%

JAPAN — GLOOM OR NINJA GLORY 

Although the cheerfully pagan Japanese ignored Christmas as usual and worked a full five-day week, they did so with a distinct lack of pleasure. Japan has been see-sawing between hope and despondency, driven by inter-related economic and pandemic factors, for some time. This past week put Tokyo onto the back foot, its Nikkei 225 index losing 0.4% — an exact mirror image of the previous week’s gain. Record Covid infection rates and increasing lockdown disruptions were to blame.                           

Among motorcycle manufacturers, only Kawasaki continued to shine. Its share price has been advancing without interruption since the end of October. And once a comprehensive corporate restructure, vision statement and divisional spin-off policy were released in November, the price accelerated rapidly. In a mere eight weeks, Kawasaki’s market capitalisation value has now increased by an extraordinary 73.7%.                                                                                                                                                                                                           

Currency: yen

Price

Week

Month

Honda

2933

-5.2%

-1.5%

Yamaha

2131

-0.9%

+5.4%

Suzuki

4860

-6.2%

-14.6%

Kawasaki

2154

+3.9%

+35.5%

INDIA — UNHAPPY HOLIDAY

Although 79.8% of India’s vast population adhere to the animist Hindu religion and only 2.3% of Indians present as Christian, they all appreciate a chance to skive. So the holy days of myriad religious faiths, major or minor, are all recognised as public holidays and observed by everybody. Thus Mumbai’s Bombay Stock Exchange shut after four sessions to honour some mythical occurrence in Bethlehem 2000 years ago.      

However, its BSE Sensex 30 index flatlined, as harsh economic realities increasingly impinged. Four out of the five leading indigenous motorcycle and scooter manufacturers lost ground. Only India’s star bike exporter, Bajaj, managed a slight improvement.            

Currency: rupee

Price

Week

Month

Hero MotoCorp

3073.10

-2%

-1.1%

Bajaj Auto

3374.75

+0.8%

+6.3%

TVS Motor

479.75      

-1.9%

-4%

Eicher Motors

2436.75

-1.8%

-2.8%

Mahindra

710.90

-3.1%

-1.5%

CHINA — GODLESS HEATHENS TOO

News that the Trump administration’s swansong move to put 60 of China’s leading tech companies on a US export blacklist, which arrived after the Shanghai and Shenzhen exchanges had closed in the previous week, took the shine off Shanghai’s SSE Composite index. It only managed a marginal 0.1% rise during the full five daily sessions through Xmas you’d expect in any godless Communist regime.      

Six of the ten listed Chinese bike manufacturers sank, Honda JV affiliate Sundiro by a double-digit percentage. But Jialing parent CETC Energy’s amazing progress continued to distort the overall picture.                   

Currency: yuan

Price

Week

Month

Qianjiang

27.99

-0.8%

+5.3%

Zongshen

7.70

+0.4%

-10.3%

Sundiro

2.35

-11%

-18.7%

CETC Energy    

9.65

+27.8%

+63.3%

Lifan

5.16

+1.6%

-5.1%

Loncin

3.46

-3.4%

-14.1%

Linhai

6.17

-2.4%

-21%

Guangzhou Auto

13.28

-6.9%

-4.3%

CFMoto

176.88

+4.2%

+19.5%

 

Currency: HK dollar

Price

Week

Month

Jianshe

4.85

-2.6%

+0.4%