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 4 October 2024. BDN financial editor Roger Willis reports.
USA — ANOTHER FINE MESS
A witch’s brew of geo-political challenges and conflicting US business data sucked most of the life out of American investors. Initially, Wall Street stocks retreated after an ISM survey indicated continuing weakness in the US manufacturing sector. Later in the week, that was countered by stronger than expected US jobs data bolstering investor confidence. In between, negative sentiment for global equities came from the possibility of Israel launching retaliatory air strikes against the Iranian oil industry. Oil prices surged in response.
And just to throw a few more spanners into the works, imminent Q3 results will highlight the poor performance of many leading US manufacturing household names. Investors got their retaliation in early on Harley-Davidson, slashing its share price well in advance.
New York market indices highlighted these woes, by going nowhere. The blue-chip S&P 500 added just 0.2%. NASDAQ’s Composite and the Dow Jones Industrial Average both struggled to a 0.1% gain, while S&P’s MidCap 400 fell by 0.1%.
| Currency: dollar | Price | Week | Month |
| Harley-Davidson | 34.78 | -11.7% | -4.6% |
| Polaris Industries | 82.25 | -3.2% | +3.7% |
| Textron | 86.74 | -1.2% | +1.2% |
| Ideanomics (Energica) | 0.035 | -53.3% | -86.5% |
| Niu Technologies | 2.80 | +26.1% | 54.7% |
| LiveWire | 5.87 | -5.5% | +7.3% |
EUROPE — MISERY CROSSES THE ATLANTIC
European stocks were hit by their biggest one-day drop in a fortnight, as investors digested weak business activity data, disruption spreading through Germany’s troubled automotive industry and rising fears of escalation in the Middle East. All key market indices turned negative on a weekly basis. Milan’s FTSE MIB took the heaviest hit, 3.3% down. The Xetra Dax in Frankfurt finished 1.8% in arrears and the Wiener Börse ATX dropped by 1.1%. All four motorcycle-related listing were duly spanked, with KTM parent Pierer taking the hardest knock in Austria.
| Currency: euro | Price | Week | Month |
| BMW | 77.76 | -4.2% | -0.6% |
| Volkswagen | 98.80 | -5.7% | +2.3% |
| Pierer Mobility | 24.00 | -6.6% | -11.8% |
| Piaggio Group | 2.54 | -3.1% | -2.7% |
JAPAN — CURRENCY CONUNDRUM
Within 36 hours of being sworn in as Japan’s new prime minister, Shigeru Ishiba performed am apparent policy U-turn without consulting BoJ central bankers and put the yen into free-fall. The Nikkei 225 index spanning stock market activity on Tokyo and Osaka promptly plunged to close 3% down. Among motorcycle-associated corporate heavyweights, only Kawasaki Heavy Industries remained shiny side up.
| Currency: yen | Price | Week | Month |
| Honda | 1568.5 | -3.3% | +2.7% |
| Yamaha | 1333.5 | -1.5% | +8.3% |
| Suzuki | 1570.5 | -7.6% | -0.2% |
| Kawasaki | 6225 | +2.1% | +32.6% |
INDIA — INFIGHTING AFFLICTION
Central banker reluctance to cut interest rates, in defiance of political tub-thumping, rattled Mumbai investors severely. India’s dominant stock market indices — S&P’s BSE Sensex 30 and the NSE Nifty 50 — plunged almost in unison with respective 4.5% and 4.4% losses. The resultant sell-off they reflected was harsher for all five major Indian motorcycle brands.
| Currency: rupee | Price | Week | Month |
| Hero MotoCorp | 5520.85 | -7.3% | -3.9% |
| Bajaj Auto | 11774.40 | -7% | +8.7% |
| TVS Motor | 2687.50 | -8.9% | -2.4% |
| Eicher Motors | 4706.80 | -7% | -1% |
| Mahindra | 3017.45 | -5.2% | +11.8% |
CHINA — BUY NOW, PAY LATER?
Still wallowing with joy in Beijing’s unprecedented economic stimulus package, after a fortnight of frenetic trading activity, Chinese investors are cheerfully buying motorcycle manufacturing stocks as if there was no tomorrow. This phenomenon was amply documented by key market indices. Shanghai’s all-share SSE Composite rose by 8.1% and the blue-chip CSI 300 put on 8.5%. If this proves to be a bubble that will burst, there are no signs of it happening yet.
| Currency: yuan | Price | Week | Month |
| Qianjiang | 19.20 | +7.7% | +24% |
| Zongshen | 14.75 | +8.1% | +18.5% |
| Sundiro | 3.71 | +10.1% | +25.3% |
| CETC (Jialing) | 13.16 | +10% | +32.3% |
| Lifan | 4.68 | +10.1% | +22.8% |
| Loncin | 7.91 | +5.6% | +17.7% |
| Linhai | 8.82 | +8.6% | +23.7% |
| Guangzhou Auto Group | 8.83 | +6.8% | +19.6% |
| CFMoto | 163.88 | +8.7% | +23.3% |
| Xinri E-Vehicle | 11.59 | +9.4% | +17.5% |