A snapshot of motorcycle and ATV industry share performance across key manufacturers and major global markets at the trading week closure on Friday 26 January 2024. BDN financial editor Roger Willis reports.
USA — CONFIDENCE GROWS
Wall Street stocks continued to deliver solid gains following the previous week’s record surge, with positivity from all four key market indices. S&P 500 blue-chips led the front rank once more, closing 1.1% up. The Dow Jones Industrial Average and S&P’s MidCap 400 respectively finished 0.6% and 0.8% higher, although the latter was patchy. MidCap powersports players Harley-Davidson and Polaris Industries both lost ground, in advance of their imminent Q4 and full-year results declarations. The tech-heavy NASDAQ Composite stacked on a firmer 0.9%, with the attraction of technology pitches spreading across the Atlantic too.
| Currency: dollar | Price | Week | Month |
| Harley-Davidson | 33.30 | -0.6% | -9.6% |
| Polaris Industries | 91.37 | -2.4% | -3.6% |
| Textron | 84.83 | +7.7% | +5.5% |
| Ideanomics (Energica) | 1.04 | -14.8% | -47.7% |
| Niu Technologies | 1.93 | +9% | -11.9% |
| LiveWire | 11.35 | +0.3% | +0.4% |
EUROPE — BRIGHTER MOOD
A softer tone from European Central Bank President Christine Lagarde on interest rates initially relaxed investors. And then a range of excellent Q4 results from luxury goods groups lifted that sector to record multi-year highs, boosting hopes that it can weather Northern Europe’s economic downturn.
Among market indices pertinent to posh products, both the luxury-infested CAC 40 in Paris and Frankfurt’s Xetra Dax benefited with respective 2.3% and 2.5% rises. Gloom reduction in the latter also spread to substantial recovery for both Teutonic automotives with biker connections. Italy’s FTSE MIB in Milan was weaker, adding just 0.3%. But Piaggio blithely bucked that trend.
| Currency: euro | Price | Week | Month |
| BMW | 94.77 | +2.7% | -6% |
| Volkswagen | 127.65 | +9.8% | +7.8% |
| Pierer Mobility | 50.20 | +0.4% | +1% |
| Piaggio Group | 3.11 | +2.3% | +4.4% |
JAPAN — GOOD, BAD OR INDIFFERENT?Â
Japanese trader turmoil over whether the Bank of Japan would end its negative interest rate policy in coming months promoted a minor sell-off and the Nikkei 225 index spanning the Tokyo and Osaka stock exchanges fell by 0.6%. Biker shares were tentative anyway, with quarterly results revelations rapidly approaching.
| Currency: yen | Price | Week | Month |
| Honda | 1583.5 | -0.2% | +8% |
| Yamaha | 1388.5 | +0.5% | +10.2% |
| Suzuki | 6298 | -3.6% | +4.4% |
| Kawasaki | 3281 | +2.3% | +5.2% |
INDIA — RELIGIOUS TUB-THUMPING
Mumbai market indices declined in unison with 1% losses for both S&P’s BSE Sensex 30 and the NSE Nifty 50. Principal distraction was the controversial opening of a vast new Hindu temple by mercurial Indian prime minister Narendra Modi, paid for by his government in a flagrant breach of India’s multi-faith constitution. Weakened investment activity didn’t affect enthusiasm for Bajaj Auto biker shares, though, which blew opposition into the weeds.
| Currency: rupee | Price | Week | Month |
| Hero MotoCorp | 4442.15 | +1% | +7.3% |
| Bajaj Auto | 7597.50 | +6.5% | +11.8% |
| TVS Motor | 1941.10 | -4.7% | -4.2% |
| Eicher Motors | 3616.45 | -2.2% | -12.7% |
| Mahindra | 1635.50 | -1.2% | -5.4% |
CHINA — FALSE PRETENCES
A pledge from Chinese prime minister Li Qiang, to deliver more forceful state support to the country’s struggling stock markets, engendered a three-day winning streak for investors, temporarily adding almost 4% to the CSI 300 index of Shanghai and Shenzhen blue-chips. But then traders realised there was no meaningful action on the cards to match his assertions and this rally collapsed. The CSI eventually closed on a much smaller 2% gain.
Among China’s ten listed motorcycle manufacturers, six managed to hang onto some of the advances they had made. Don’t expect their luck to last.
| Currency: yuan | Price | Week | Month |
| Qianjiang | 11.25 | -2.8% | -9.8% |
| Zongshen | 6.04 | +0.8% | -8.9% |
| Sundiro | 3.09 | +4% | +4.4% |
| CETC (Jialing) | 12.00 | -0.1% | -14.2% |
| Lifan | 3.28 | +1.5% | -8.4% |
| Loncin | 4.99 | +1.8% | -3.3% |
| Linhai | 9.74 | +5.1% | -4.7% |
| Guangzhou Auto | 8.47 | +1.4% | -3.2% |
| CFMoto | 94.60 | -3.4% | -7.5% |
| Xinri E-Vehicle | 11.25 | -3.5% | -10.1% |