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SHARE PRICES AND MARKET ANALYSIS

A snapshot of bike and ATV industry share performance across key manufacturers and major global markets at the trading week closure on Friday 15 April 2022. BDN financial editor Roger Willis reports.

USA — COUNTING THE COST

Wall Street investment banks are racking up billions in potential losses due to the war in Ukraine and cautioning that no end is in sight for resultant equities market turbulence. US inflation raced past an annualised 8.5%, while Federal Reserve central bankers dithered over monetary tightening counter-measures in the face of mounting recession fears.

Meanwhile, US President Joe Biden began shipping NATO-standard 155mm heavy artillery with a range of more than 20 miles to the Ukrainian army, complementing their older and less sophisticated Soviet-era howitzers (with which Russian forces are also equipped). And the free world cheered as Ukraine sank Russia’s prized Black Sea fleet flagship, a 12,490-ton guided missile cruiser called Moskva, with a couple of home-made Neptune rockets.

Unsurprisingly, New York market indices struggled for traction in a crazy trading week also fore-shortened by Easter crucifixion festivities. The blue-chip S&P 500 and Dow Jones Industrial Average finished on Thursday with respective 2.1% and 0.3% losses — a second weekly reversal for both.

HOGOMETER

Harley-Davidson was busy going almost nowhere. On Monday, the share price added 0.8%, which proved to be an omen. Then it dropped by 1.2% on Tuesday, before a 1.2% recovery on Wednesday to $38.20. Thursday saw a high of $38.70, a low of $37.97 and finally a return to $38.20 at close of play.

 

Currency: dollarPriceWeekMonth
Harley-Davidson38.20+0.8%-5.3%
Polaris Industries107.24+2.6%-2.7%
Textron68.65+0.5%-8.6%

According to research institute Zew, German investor confidence has now fallen to its lowest level since the Covid pandemic’s the first frightened month. The inescapable possibility of Putin throwing all energy toys out of his pram and cutting off oil and gas supplies to the Fatherland, thereby rubbishing Europe’s strongest economy, fills them with dread.EUROPE — GERMANY CALLING (FOR MERCY)

Reflecting such fears, Frankfurt’s Xetra Dax declined for a second successive week, this time 0.8% down. The two key Teutonic automotives with motorcycling side-lines also fell again. In Italy, Milan’s MIB index managed to stay shiny side up by 0.2%. But Piaggio’s losing streak continued.

Italian electric motorcycle manufacturer Energica is now on the verge of being delisted from its small-cap MIB presence. Its share price has been static since early March, after US private equity firm Ideanomics agreed a mopping-up deal for residual free float, to complete an acquisition of the company.

Currency: euroPriceWeekMonth
BMW76.24-1%+0.4%
Volkswagen209.50-3.5%-4.9%
Pierer Mobility81.30+1%+1.6%
Piaggio Group2.42-0.8%-4%
Energica3.19N/AN/A

JAPAN — NOT EASILLY SCARED

Although Russian retaliation to Japan’s participation in sanctions against Moscow has now emerged, in the shape of refusal to negotiate fishing rights renewal in disputed waters adjacent to the most northerly Japanese archipelago isles, investor sentiment in Tokyo actually improved — even if there won’t be much wild salmon in their sushi lunchboxes soon.

The Nikkei 225 shrugged off its previous fortnight of losses and put on 0.4%. All four indigenous motorcycle producers bounced back as well, to greater or lesser degrees.

Currency: yenPriceWeekMonth
Honda3293+2.5%-1.5%
Yamaha2617+2.6%+4.9%
Suzuki3888+0.1%-4.3%
Kawasaki2347+10.5%+10.7%

INDIA — CONSIDERING CONSEQUENCES

The Indian government’s close relationship with Russia is starting to make Mumbai’s business community nervous as international criticism of its stance accelerates. So investors began to sit on their hands and the BSE Sensex 30 share index returned to negativity, 1.9% down after a fortnight of gains. Among major bike makers, only Mahindra escaped censure.

Currency: rupeePriceWeekMonth
Hero MotoCorp2274.40-3.7%-6%
Bajaj Auto3697.30-3%+1.3%
TVS Motor650.05-0.5%+6.3%
Eicher Motors2491.45-2.5%+2.2%
Mahindra866.10+1%+9%

CHINA — LOCKED DOWN AND LOCKED OUT

President Xi’s mega-lockdown to stop Covid is spreading to more industrial areas and serious damage to China’s export-led economy is now inevitable. Major western companies manufacturing there, most notably Apple, are now seeing the shutters go up on their plants and shipments dry up. This situation is also aggravating global shortages of semiconductors, given Chinese enterprises are the biggest suppliers.

Shanghai’s SSE Composite index and the blue-chip CSI 300 posted more remorseless decline, respectively 1.2% and 1% lower in the past week. Of the eleven listed Chinese motorcycle manufacturers, only one — Honda JV affiliate Guangzhou Auto — managed to stay positive.

Currency: yuanPriceWeekMonth
Qianjiang11.08-4.1%-5.3%
Zongshen6.10-0.3%+4.1%
Sundiro2.09-0.5%+0.5%
CETC (Jialing)11.69-2.6%-16%
Lifan4.18-2.3%-11.1%
Loncin4.11-3.5%-7.2%
Linhai8.16-10.4%-11.2%
Guangzhou Auto11.91+0.7%+3.5%
CFMoto91.41-10.2%-17.4%
Xinri E-Vehicle12.43-5.5%-9.4%

 

Currency: 

HK dollar

PriceWeekMonth
Jianshe5.17-1.9%-8.2%
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