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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 10 May 2024. BDN financial editor Roger Willis reports.

USA — BORING BEHAVIOUR

Although an actual rise in US interest rates is unlikely, the Federal Reserve continues to hedge bets in every direction, on the basis that inflation hasn’t disappeared down a rabbit hole. This increasingly tedious game has seen New York equities trading swerve all over the place, from sudden sell-offs followed by record surges.

May’s first full week focused on the latter and Wall Street indices closed with uniform positivity. S&P 500 blue-chip stocks averaged a 1.9% gain and S&P’s MidCap 400 rose by 2.2%. The Dow Jones Industrial Average also boasted a 2.2% lift, while the tech-heavy NASDAQ Composite put on 1.1%. Every biker listing added value except for Harley-Davidson, which went the other way — heading for doom below 30 bucks again and perhaps the spectre of new management.

Currency: dollarPriceWeekMonth
Harley-Davidson34.69-1%-12.6%
Polaris Industries87.60+4.4%-3.3%
Textron88.55+3.5%-5.8%
Ideanomics

(Energica)

1.03+4%+15.7%
Niu Technologies2.32+1.3%+5.5%
LiveWire7.06+2.5%-3.8%

 

EUROPE — WINNERS AND TWO-WHEELED LOSERS

European stocks benefited mightily through the past week, from some very strong quarterly corporate earnings reports and growing hopes for an ECB eurozone interest rate reduction. The obvious evidence featured a tremendous 4.3% gain for Frankfurt’s Dax Xetra market index in the Fatherland and a 3.1% hike for the FTSE MIB in Milan.

However, it wasn’t all milk and honey. Lame Q1 profitability from BMW Group’s automotive and Motorrad PTW operations engendered a continuing decline for the Bavarian Master Race’s share price. Oddly, Piaggio also turned in some pretty poor Q1 results but was politely excused punishment by Italian investors promoting its shares.

Currency: euroPriceWeekMonth
BMW101.60-0.9%-7.2%
Volkswagen134.90+1.3%-7.7%
Pierer Mobility37.60+2.2%-11.3%
Piaggio Group2.92+5.4%+3.2%

 

JAPAN — SAMURAI SHARP

Bank of Japan intervention to prop up the weakening yen was quietly unabated, as investors concentrated on full-year results released as the weekend approached. Honda’s annual number crunch was excellent but speculative investors still found excuses for a share sell-off. Kawasaki basked in glory, though, as a sufficient number of the multi-faceted Kawasaki Heavy Industries conglomerate’s massed divisions came up with the goodies and its share price went ballistic. Team Green Powersports homework wasn’t top-notch, although good enough to dodge falling on swords.

Currency: yenPriceWeekMonth
Honda1736.5-2.6%-7.6%
Yamaha1438+0.8%+1.5%
Suzuki1787-1.1%-2.6%
Kawasaki5821+19.9%+21.9%

 

INDIA — CURRY FLAVOURED CONFUSION

India’s clouded General Election horizon is still destabilising investor activity, so Mumbai market indices retreated. S&P’s BSE Sensex 30 and the NSE Nifty 50 respectively fell by 1.6% and 1.9%. Topping the longer monthly picture, Hero MotoCorp and Royal Enfield parent Eicher shares are well ahead of the game.

Currency: rupeePriceWeekMonth
Hero MotoCorp4877.40+7.1%+9.8%
Bajaj Auto8983.15-1.3%-0.9%
TVS Motor2063.55+0.5%+0.8%
Eicher Motors4657.85+1.3%+8.3%
Mahindra2193.05N/A+5.9%

 

CHINA — ON THE BRIGHTER SIDE

Some genuine good news, that China’s export output had recovered in March, boosted equity investment activity and therefore market indices. Shanghai’s SSE Composite rose by 1.6% and the blue-chip CSI 300 put on a slightly better 1.7%.

Among monthly gains for biker stocks, four of them stood out with double-digit percentage advances — Benelli and Keeway parent Qianjiang, Zongshen, BMW Motorrad contractor Loncin and KTM parent Pierer’s keen JV chum CFMoto. The common denominator is private ownership independence, thereby avoiding the malign influence of Communist stooges on their management boards.

Currency: yuanPriceWeekMonth
Qianjiang22.00+27.6%+66.7%
Zongshen11.57-1.4%+30.7%
Sundiro3.17+1.6%+0.3%
CETC (Jialing)12.10-4.3%+3.1%
Lifan3.28+2.2%3.8%
Loncin7.92+22%+23.4%
Linhai8.29+5.5%+2.3%
Guangzhou Auto8.78N/A-0.1%
CFMoto160.30+14.6%+17.9%
Xinri E-Vehicle12.67+18.4%+7%

 

 

 

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