The previous week on the stock market was characterized by many good company figures, but weak economic data are clouding the markets. Both inflation and the consumer climate index are compared to the company figures.
The start of the week: 3M shareholders can be happy
Thyssenkrupp Nucera started the week, the company was able to increase both its sales and incoming orders. The ThyssenKrupp subsidiary’s sales rose by 90% compared to the prior-year quarter, and incoming orders also rose by 13%. It remains to be seen to what extent the hydrogen title will develop.
The PDD share stood out at the beginning of the week, double-digit price gains were the result of the company’s good quarterly figures. The Chinese e-commerce platform was able to increase its operating profit by 66% compared to the same quarter last year, and sales by as much as 66%. Overall, the company posted a profit of 1.75 billion euros, a significant increase compared to the same quarter last year.
On Tuesday, the 3M group reached a settlement with the US military that was quite lower than previously expected. The company is embroiled in a class action lawsuit filed by US military personnel who complained about Aearo’s earbuds between 2003 and 2015. The company was previously bought by 3M, so the lawsuit now also affects 3M. The stock posted a gain on the month on the lower-than-expected comparison.
On the same day, the GfK market research institute published the figures for the consumer climate index. The index continues to stagnate at a low level, the level of -24.6 points in the previous month could not be improved at -25.5 this month. Above all, energy prices unsettle consumers, and the desired tax relief did not materialize.
AroundTown: Stock recovers
Pharmaceutical and consumer goods maker Johnson & Johnson on Wednesday adjusted its full-year outlook following the spin-off of the consumer goods business. The real estate group AroundTown also presented its half-year report on Wednesday. The company, which focuses on commercial properties, adjusted its outlook slightly upwards. The stock temporarily recorded a price gain of 8%. The share is still a long way from its pre-crisis level of 2021.
The Federal Statistical Office released the inflation data on Wednesday, inflation was 6.1% in August. In the previous month, inflation was still 6.2%, core inflation remained at 5.5% in August. The rate of inflation is still a long way from the central bank’s self-imposed target of 2%. The currency watchdogs are discussing further interest rate changes.
Salesforce convinces with good numbers
On Wednesday evening, Salesforce impressed investors with good quarterly figures. Here, too, the respective share was able to record rising prices. In the last quarter, the company reported sales of $8.6 billion, up 11% year-on-year. Operating income rose to $1.48 billion, and shares were also repurchased. The increased margin forecast for the current year was particularly responsible for the jump in the share price.
At the end of the week, the copper producer Aurubis surprisingly had to withdraw its earnings forecast. According to the company, it will have to post losses in the low three-digit million range, and the theft of various raw materials will have a negative impact on the company’s balance sheet. The theft also spread to Salzgitter AG, which holds almost 30% of Aurubis. The shares of both companies lost value as a result.
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Source: HSBC