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Share prices

06/09/2021

A snapshot of bike and ATV industry share performance across key manufacturers and major global markets at the trading week closure on Friday 3 September 2021. BDN financial editor Roger Willis reports.

USA — JOBS SLUMP

What looked like a straight run of record highs for New York market indices hit the buffers when US employment growth data for August dramatically underperformed estimates. Economists’ forecasts had anticipated around 730,000 new jobs. In reality, the tally was barely a third of that figure. The resurgent Covid infection rate was held to blame for sabotaging recruitment.   

Wall Street’s blue-chip S&P 500 index managed to hold a narrow 0.6% weekly gain. But both the Dow Jones Industrial Average and S&P’s MidCap 400 copped 0.2% losses.                    

HOGOMETER

Harley-Davidson shares suffered another week of mediocre trading, bouncing back and forth from plus to minus, trapped in a 39-buck cage. Monday began with 0.9% recovery, followed by a 0.8% fall on Tuesday. Wednesday’s 0.8% increase took the price to an emaciated peak of $39.86 before decline set in — 1.1% down on Thursday and 0.6% lower on Friday.   

Harley supremo Jochen Zeitz’s latest claim, that the brand’s new Pan America model had just topped American domestic adventure bike sales charts thanks to his Rewire and Hardwire management strategies, probably fell onto deaf investor ears. The machine in question was actually conceived, styled and engineered during the tenure of his usurped predecessor Matt Levatich.                  

Currency: dollar

Price

Week

Month

Harley-Davidson

39.16

-0.9%

-1.7%

Polaris Industries

120.74

-1.9%

-8.2%

Textron

72.55

-0.5%

-0.1%

EUROPE — INFLATION BOGEYMAN STRIKES

European investors were startled by news that annualised eurozone consumer price inflation, which had grown to 2.2% in July, subsequently jumped to 3% in August (a likelihood BDN had predicted some time ago). In Germany, where inflationary pressures are a historically feared issue, Frankfurt’s Xetra Dax stock index dropped by 0.4% in response. 

But both big German automotives with biker sidelines continued to add value for a second week regardless. KTM, Husqvarna and GasGas parent Pierer Mobility’s shares beat them with a better performance, after the company belatedly revealed excellent half-year results on 31 August.         

Currency: euro

Price

Week

Month

BMW

79.40

+1.4%

-3.3%

Volkswagen

288.80

+2.4%

-3.1%

Pierer Mobility

77.60

+2.9%

+5%

Italian investors, lacking Teutonic caution, didn’t take much notice of the enhanced inflation menace. Milan’s MIB index rose by 0.2%, although Piaggio shares went the other way.         

Currency: euro

Price

Week

Month

Piaggio Group

3.15

-0.6%

-4.8%

Energica Motor

3.07

+0.3%

+2.3%

JAPAN — PM FALLS ON HIS SWORD 

Japanese prime minister Yoshihide Suga, widely seen as incompetent, announced that he was stepping down after only a year in office. The local investment community applauded his decision with gusto, as evidenced by Tokyo’s Nikkei 225 stock index stacking on 5.4%. All four indigenous motorcycle manufacturers benefitted mightily.                                         

Currency: yen

Price

Week

Month

Honda

3381

+4.1%

-6.9%

Yamaha

2813

+4.3%

-1.3%

Suzuki

4810

+3.4%

+3.3%

Kawasaki

2440

+4%

-0.1%

INDIA — GOES SHOPPING

Positive Indian retail sector recovery data for August raised confidence generally and Mumbai’s BSE Sensex 30 index put on a healthy 3.6%. Fast-improving motorcycle and scooter sales were headline acts, promising more to come as the run-up to India’s Diwali festive season kicks in through September and October. Investors therefore piled into big-league biker shares. Among these, Bajaj was the weakest, because its growth during August was largely dependent on export rather than domestic action. Royal Enfield parent Eicher was star performer.                  

Currency: rupee

Price

Week

Month

Hero MotoCorp

2799.45

+4.7%

-1.2%

Bajaj Auto

3757.50

+1.6%

-2.3%

TVS Motor

540.40

+5.7%

-5.2%

Eicher Motors

2802.60

+8.8%

+2%

Mahindra

749.90

-3.3%

-1.1%

CHINA — NERVOUS TRADING

Government regulatory meddling in Chinese stock markets continues to worry speculators, promoting price volatility. Shanghai’s all-share SSE Composite index and the CSI 300 covering blue-chips in Shanghai and Shenzhen both remained positive, but to considerably lesser degrees than during the previous week — respectively 1.7% and 0.3% up. Five out of China’s eleven listed motorcycle manufacturers lost value.               

Currency: yuan

Price

Week

Month

Qianjiang

15.74

+7%

+7.9%

Zongshen

7.36

-0.8%

+1.2%

Sundiro

2.12

+6.5%

+12.2%

CETC Energy    

13.44

-2.1%

-1.7%

Lifan

7.00

+12.4%

+25.2%

Loncin

3.92

+8.6%

+17%

Linhai

7.24

-2.2%

+5.7%

Guangzhou Auto

19.25

+10%

+32.8%

CFMoto

124.30

-9.9%

+20.5%

Xinri E-Vehicle

16.82

-1.5%

-14.8%

                                                                       

Currency: HK dollar

Price

Week

Month

Jianshe

5.80

+13.9%

+22.1%