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SHARE PRICES AND MARKET ANALYSIS

A snapshot of motorcycle and ATV industry share performance across key manufacturers and major global markets at the trading week closure on Friday 5 April 2024. BDN financial editor Roger Willis reports.

USA — NERVOUS TWITCH

Fear of flaring tensions in the Middle East sent oil prices surging to five-month highs above $90 per barrel, promptly sparking concerns about an inflationary resurgence keeping interest rates stoked. A steep midweek sell-off in New York saw the S&P 500 suffer its biggest one-day drop this year on Thursday and all four leading Wall Street indices finished negative. Besides S&P 500 blue-chips closing 1% down, the Dow Jones Industrial Average incurred a 2.3% loss, S&P’s MidCap 400 fell by 1.9% and the NASDAQ Composite posted a 0.8% decline.

Luckily, markets rebounded on Friday after US employment growth data for March far outstripped economists’ expectations — adding 303,000 new jobs compared to 200,000 forecast — signalling that America’s economy isn’t showing any indicators of a slowdown. But the trading recovery wasn’t sufficient to drag investors all the way out of the hole they’d dug earlier.

Among high-profile MidCap biker stocks, Harley-Davidson, Indian Motorcycle parent Polaris and Harley’s electric spin-off LiveWire all copped full-week punishment. NASDAQ electrified biker listings Ideanomics and Niu escaped without pain.

Currency: dollarPriceWeekMonth
Harley-Davidson42.09-3.8%+9.4%
Polaris Industries97.27-2.8%+5%
Textron96.65+0.8%+4.9%
Ideanomics

(Energica)

0.96+1.1%-9.3%
Niu Technologies1.92+14.3%+11%
LiveWire6.74-6.8%-17.7%

 

EUROPE — FEAR FACTOR SPREADS

Middle-Eastern jitters and suddenly surging oil prices were mirrored by leading European market indices. The region-wide Stoxx Europe 600 dropped by 0.8% and the Xetra Dax in Frankfurt closed 1.7% down. However, German automotive stocks remained robust. Italy’s FTSE MIB in Milan fell by a harsher 2.1% and Italian PTW flag carrier Piaggio lost value.

Currency: euroPriceWeekMonth
BMW112.50+5.2%+5%
Volkswagen148.70+5%+10.7%
Pierer Mobility44.10-6.4%-5.4%
Piaggio Group2.88-1.7%+2.5%

 

JAPAN — MORE OF THE SAME

When US and European markets sneeze, the Japanese tend to catch a cold. And a copybook case was immediately evident. Tokyo and Osaka’s Nikkei 225 index plunged by 3.4%, driven by Japan’s total dependence on imported fossil fuels, mostly from the Middle East. Among indigenous biker-related stocks, only Suzuki bucked this negative trend.

Currency: yenPriceWeekMonth
Honda1835.5-2.9%+4%
Yamaha1420-0.2%+6.6%
Suzuki1758.5+1.2%+12.2%
Kawasaki4659-8.6%-3.6%

 

INDIA — AVOIDANCE TACTIC

Although some Asian markets were freaked out by Middle-East conflict and energy jitters in the past week — most notably South Korea, Japan and various ASEAN countries — India was not among them. The reason for lack of concern, of course, is that the Indians predominantly buy their oil and gas from Russia on favourable discounts and blatantly ignoring Western sanctions. Mumbai market indices, the S&P BSE Sensex 30 and NSE Nifty 50, therefore closed in unison with 0.8% gains. The fact that three of India’s five major motorcycle manufacturers lost value in the past week is probably unrelated to issues elsewhere.

Currency: rupeePriceWeekMonth
Hero MotoCorp4524.90-4.2%-2.8%
Bajaj Auto9009.50-1.5%+1.5%
TVS Motor2069.40-3.8%-8.4%
Eicher Motors4031.25+0.3%+6.5%
Mahindra2013.30+4.8%+6.1%

 

CHINA — SIMILAR EXCUSE

Chinese energy demand is free from Middle-Eastern restrictions too, pipelined directly overland from Russian oil and gas fields in Siberia. So unsurprisingly, Shanghai’s SSE Composite and the blue-chip CSI 300 indices cruised along together with 0.9% weekly advances. Most of China’s motorcycle producer listings also remained comfortably positive.

Currency: yuanPriceWeekMonth
Qianjiang13.49-2.4%+4.6%
Zongshen8.79+8.3%+48.2%
Sundiro3.38+11.2%+49.6%
CETC (Jialing)12.83+2.5%+2.4%
Lifan3.21+0.9%+2.6%
Loncin6.46+3.2%+22.1%
Linhai8.36+0.4%+10%
Guangzhou Auto8.70-1.1%+0.9%
CFMoto128.50+7.2%+8.3%
Xinri E-Vehicle11.26+4.5%+12.9%

 

 

 

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