Monthly Archives: April 2011

European stock markets little changed at midday – Wedding in view

2011-04-29_WilliamKate_dapd FRANKFURT (Dow Jones) – European shares present at the Friday lunch changes with the wedding in England no. "The trading desks focus more on the guest list as the trade," says a trader. (Photo: DAPD)

Felt would do for the slowdown in trading activity. In the City of London is like all over the holiday. The Euro Stoxx 50 rose to 13.04 against clock by 0.1% or 2 points to 3,008, the Stoxx-50 wins 2659 to 0.1% or 3 points.
Could provide a new impetus in the afternoon economic data from the United States. The program is home to the purchasing managers’ index from the Chicago area for the month of April. Economists expect the average of their forecasts in a stand of 68.0 to 70.6 points the previous month. Some economists, he is a good precursor to next week’s expected national ISM index. Other economists consider it because of the dominance of the automobile industry in the Chicago area, however inappropriate.
In addition, the results of the second survey, the University of Michigan to the mood of U.S. consumers are expected in April. Here is the consensus of 70.0 to 69.6 points in the first survey.
Automobiles are suffering from weak Daimler-figures
0.4% reduction in the car values ​​are under some pressure. Background are disappointing financial results absorbed by Daimler: the first-quarter revenue estimate of analysts at Credit Suisse has differed by 4%, while adjusted EBIT was lying in the forecast. Negative surprises are the experts on the development of liquidity – especially with regard to this very positive data from VW. Daimler to give 1.8% to 52.13 EUR, while the Wolfsburg At length value by 0.4% to 131.55 EUR.
Saint-Gobain in the first quarter of strong sales
The French building materials manufacturer has made a good start to the year. Market participants put out the strong sales growth. With an increase of 7.6%, sales were above the market expectation. positively surprised at the areas of the construction business, flat glass and the packaging division. Saint-Gobain also announced to the anticipated IPO of packaging Verallia daughter. The stock lost 0.6% to 46.89 EUR after they had gained much in advance.
Vinci template set of sales figures by 0.6% to 45.01 EUR. "The numbers are down as expected", says the trade. The construction business was relatively good weather of it as a weak prior year profits. The momentum was the beginning of the year high, is expected to weaken but in the year. That the view has been confirmed, is not a surprise. The construction sector tends not changed. The European construction sector tends unchanged.

Chicago purchasing managers index falls more than expected in April (Dow Jones Germany)

2011-04-29 Chicago Panorama_dapd
CHICAGO (Dow Jones) – The Association of Purchasing Managers in Chicago on Friday reported a decline in the index of business activity in April to a seasonally adjusted 67.6. (Photo: DAPD)

Dow Jones Newswires had forecast Economists surveyed ahead a level of 68.0. In March, the figure was 70.6. Readings above 50 indicate an expansion points, numbers, including a contraction in manufacturing in the region.
It was almost recorded a decline in all indices, such as the VCD on. Thus, the index was for production to 70.0 (previous month: 74.2), the index for new orders was reported as 66.3 (74.5). For the employment index, a value of 63.7 (65.6) was reported. The index for prices paid fell to 81.8, according to the information (83.4).
The purchasing managers ‘index for the Chicago area is of observers pay special attention because he conclusions about the national purchasing managers’ index of the Institute for Supply Management (ISM) allows. However, the Chicago area is mainly on the U.S. auto industry dominated and this allows a correlation not always observed throughout.

U.S. consumer sentiment index rises in April to 69.8 (Dow Jones Germany)

Copy of Shop-2- Foto_WalmartNEW YORK (Dow Jones) – is at the University of Michigan on behalf of the news agency Reuters calculated index of consumer sentiment in the U.S. increased in April after the results of the second survey to 69.8 from 67.5 the previous month, as on Friday was reported. (Photo: Walmart)

Dow Jones Newswires surveyed economists had expected the index level at 70.0. After the first survey was first a state arising from 69.6.
U.S. consumers play a key role for the U.S. economy because about 70% depending on gross domestic product from private consumption. The index for expectations in April amounted to 61.6 (previous month: 61.2), the index for the assessment of the current situation was given to 82.5 (82.7).
Inflation expectations of consumers have not changed in April from the previous month. Term of five years, respondents continue to expect a rate of 2.9%. At sight of twelve months, inflation expectations are at 4.6%.

Daimler doubled profit in first quarter

2011-04-29_DaimlerMontage_dapd STUTTGART (Dow Jones) – With strong sales of core brand Mercedes-Benz and Daimler trucks has doubled in its first quarter profit almost. (Photo: DAPD)

The bottom line of the Stuttgart car maker went from January to March of EUR 1.2 billion, as the DAX Group announced on Friday. After the economic crisis a year ago, customers were initially reluctant to return to the car dealers.
In the first quarter of 2011, however, have increased the good sales revenue by 15% to 24.7 billion EUR. Before interest and taxes generated Daimler EUR 2.0 billion profit (EBIT) and thus 71% more than in the previous year.
The largest part of the total result contributed with EUR 1.3 billion, the car division, Mercedes-Benz Cars. In the first quarter passenger car subsidiary has sold 12% more expensive and above all new cars, particularly in China – a new record. In the current year will exceed the Swabians clearly sell more than the assembled competitors and so the projected market growth of 5% to 7%, Chief Financial Officer Bodo Uebber announced.
Even the highly profitable truck business, the Group continued grumbling after the customers have checked off the crisis in Western Europe and the USA. Almost 90,000 trucks has sold the world’s largest commercial vehicle manufacturer to the end of March, an increase of 27%. Truck sales contributed EUR 415 million to Group operating profit. 65% more orders in the first quarter also will drive sales in the coming months. Before Daimler already laid the Swedish truck-rivals Volvo and Scania surprisingly good numbers.
In the Transportation division, Daimler also benefited from an increase in sales – there was 16%. Operating profits in the division Vans tripled to 173 million EUR. Not quite as good it was in the bus division, where so far mainly chassis, but few buses were all sold. By March, the sales represented a buckled by 8% and brought the division to a loss of EUR 33 million. The Group believes, however, that the business attracts in the second half.
In the business of financial services must Daimler now less money for bad loans and allow increased its operating profit to EUR 321 million.
The earthquake in Japan left yet had little signs of slowing in Daimler’s Profit: The Japanese subsidiary Fuso had to idle capacity costs, bad debt, spending in support of suppliers, travel and security costs in the first quarter of EUR 49 million, other EUR 29 million were incurred at Daimler Financial Services . In the current quarter, chief financial officer Uebber expects additional costs of 50 to 100 million EUR.
The severe tornado in the southern United States left behind, however only minor damage to the Daimler plant in Tuscaloosa, as Uebber said. The city in the U.S. state of Alabama is one of the worst-hit areas of the hurricanes on Wednesday. From Wednesday to Thursday, the night shift employee safety had been canceled, further layers were from this week. From Monday to again produce the work schedule.
2011 the Swabians do generate more revenue with record sales and EBIT in the prior year. Although did not rule Uebber because of pending investment in new models and works of a dent, but to the return of the car business by 2013 to increase from last 8.7% to 10%. The highest margin reached the Stuttgart, with its car division in 2007 to 9.1%. In the first quarter it was 9.3%.
In terms of Tognum acquisition, CFO Uebber demonstrated by the demand of many investors for more money on Friday again unimpressed. With 24 EUR per share is the Friedrichshafen diesel engine builders attractively valued, he said. "We are not unreasonable price to pay for Tognum."

Investors scrambling for Commerzbank papers

Frankfurt Commerzbank shares have to be incredibly sexy. Unlike the rush to the papers of the money can hardly explain the house. Within a week, collected the bank with an early share placement whopping 4.3 billion euros. This is more than half of the total, the Commerzbank wants to place by June.

Even for taxpayers, the success is gratifying, because the more the Commerzbank takes, the sooner they can reduce their debts to the state. Even now, the end of May a capital increase ranges from just under four billion € repay further, by almost 90 percent of deposits can still be. Of the 16.2 billion euros, which it had received in the financial crisis by the state, to the end of June was 1.9 billion remain.

The bank had in the past week, the mandatory convertible bond placement announced that at the AGM on 6 May in Commerzbank shares to be exchanged. Well billion one of the documents referred to above were held Wednesday Comen, each placed at € 4.25. With 4.3 billion euros, Commerzbank takes much more so than a target rate. The money goes directly to the middle of May the bank rescue fund Soffin. The exchanges also Soffin 1.4 billion euros of his silent partners in Commerzbank shares to 25 percent to keep its shareholding.

With the papers, Commerzbank also achieved their aim of attracting new institutional shareholders on board. Only 22 percent of the existing shareholders were entitled to claim, for each of their shares to draw a Comen. The remaining papers resorted to new buyers who could secure an additional subscription rights for the next capital.

By Comen placement and the subsequent capital increase, Commerzbank wants to collect a total of 8.25 billion euros. The government’s bank rescue fund Soffin will then convert the remaining 2.75 billion euros in a silent partnership in shares.