BUSINESS NEWS
13
INTERNATIONAL AND SPECIALIZED TRANSPORT
■
AUGUST 2013
STOCK
CURRENCY
PRICE
PRICE CHANGE
%
PRICE 12
12 MTH
AT START AT END
CHANGE MTHS AGO % CHANGE
IC
Share Index*
54.24 54.63
0.39
0.73
62.84 -13.06
Legacy IC Share Index**
309.15
333.20
24.05
7.78
237.64
40.22
Dow Jones Industrial Average
15024
15559
534.34
3.56
13075.66
18.99
FTSE 100
6243
6596
352.60
5.65
5655.78
16.62
Nikkei 225
13677
13661
-16.19
-0.12
8635.44
58.20
Hitachi Construction Machinery YEN
2038
2037
-1
-0.05
1402
45.29
Konecranes
€
22.67
22.95
0.28
1.24
20.59
11.46
Kobe Steel
YEN
122
145
23
18.85
73
98.63
Liugong
CNY
6.50
6.08
-0.42
-6.46
11.36
-46.48
Manitowoc
US$
17.99
19.11
1.12
6.23
12.08
58.20
Palfinger
€
21.75
23.70
1.95
8.97
16.06
47.57
Sany Heavy Industry
CNY
7.49
6.84
-0.65
-8.68
11.97
-42.86
Tadano
YEN
1277
1383
106
8.30
549
151.91
Terex
US$
26.93
28.49
1.56
5.79
19.15
48.77
XCMG
CNY
7.79
7.35
-0.44
-5.65
12.54
-41.39
Yongmao Holding
SGD
0.11
0.17
0.06
50.00
0.10
60.19
Zoomlion
CNY
5.39
5.01
-0.38
-7.05
9.59
-47.76
*IC Share Index, 1 Jan 2011 = 100
**Legacy IC Share Index, end April 2002 (week 17) = 100
JULY IC SHARE INDEX
CURRENCY
VALUE
VALUE
CHANGE
% CHANGE
VALUE 12
12 MTH
AT START
AT END
MTHS AGO
% CHANGE
CNY
6.169935
6.1346
-0.0353
-0.57
6.38069
-3.86
€
0.6550
0.6501
-0.0049
-0.75
0.6257
3.91
Yen
98.76
97.97
-0.78
-0.79
78.18
25.32
UK£
0.7654
0.7537
-0.0117
-1.53
0.8119
-7.17
Period: Week 26 - 30
EXCHANGE RATES – US$
Chinese impact
manufacturers, was up 7.78 %.
This was driven by the general
buoyancy of the markets
and reflected the continued
economic recovery in the USA,
among other factors.
Trouble ahead
Clearly the Chinese market
continued to drag on share
prices in the crane sector
over the course of July and
the greatest impact was seen
on domestic manufacturers.
Although the Chinese
construction market appears
to be growing again after the
downturn of 2011 and 2012,
there is still a lot of relatively
young machinery available
from the boom years.
The stock markets
resumed their
climb in July,
but it was all the
IC
share index
could do to stand
still, thanks to
weakness in
China. CHRIS
SLEIGHT reports
This is hitting new
equipment sales, and there is
also anecdotal evidence that
some manufacturers are still
producing too many machines,
which are being pushed out
into the market on loose credit
terms. This could mean more
trouble is being stored up in
a sector that is already
suffering from weak sales
and low morale.
It is difficult to say to
what extent these dangerous
commercial practices are going
on – if they are going on at
all. However, it is a worry
for the sector, and could
ultimately lead to bankruptcies
among manufacturers and /
or distributors.
■
S
tock markets around
the world enjoyed a
fairly positive month
in July, with the Dow reaching
new highs and the FTSE 100
putting on a useful 5.65 % gain
between weeks 26 and 30. The
previously buoyant Nikkei 225
slipped a marginal 0.12 %, but
given it had risen some 60 %
in the previous 12 months, this
could perhaps be forgiven.
IC
’s share index moved
up just 0.73 % in the week
26 to 30 period, a marginal
movement and a symptom
of the weakness that has seen
the index lose 13.06 % of its
value over the last year. The
problem, as has been the
case for some time, was with
China’s crane manufacturers,
which saw their share prices
fall again, in some cases, to
new lows.
Zoomlion, for example,
had not seen its shares this low
since 2006, and the picture was
similar for Sany and several
other key players in the sector.
The week 26 to 30 period
saw both companies suffer
heavy losses, dropping 7.05 %
and 8.68 % respectively, with
Liugong not far behind with
its 6.46 % slide. These were the
heaviest losses on the
IC
Share
Index during July.
Economic recovery
Elsewhere in the Index, crane
manufacturers generally
saw their stocks rise. The
Legacy
IC
Share Index, which
is an older measure of the
sector’s stock market value,
and which excludes China’s
