BUSINESS NEWS
13
INTERNATIONAL AND SPECIALIZED TRANSPORT
■
OCTOBER 2013
STOCK
CURRENCY
PRICE
PRICE CHANGE
%
PRICE 12
12 MTH
AT START AT END
CHANGE MTHS AGO % CHANGE
IC
Share Index*
57.08 61.07
3.99
6.99
56.27
8.53
Legacy IC Share Index**
344.13
369.00
24.86
7.22
229.38
60.87
Dow Jones Industrial Average
14964
15328
364.56
2.44
13485.97
13.66
FTSE 100
6433
6542
108.52
1.69
5803.63
12.72
Nikkei 225
13661
14760 1099.52
8.05
8870.16
66.40
Hitachi Construction Machinery YEN
1997
2244
247
12.37
1263
77.67
Konecranes
€
24.18
25.39
1.21
5.00
22.90
10.87
Kobe Steel
YEN
161
185
24
14.91
62
198.39
Liugong
CNY
6.12
6.73
0.61
9.97
8.66
-22.29
Manitowoc
US$
21.17
19.47
-1.70
-8.03
13.53
43.90
Palfinger
€
25.50
26.80
1.30
5.10
17.00
57.62
Sany Heavy Industry
CNY
7.08
7.49
0.41
5.79
9.60
-21.98
Tadano
YEN
1440
1320
-120
-8.33
591
123.35
Terex
US$
30.97
34.09
3.12
10.07
22.74
49.91
XCMG
CNY
7.75
8.20
0.45
5.81
10.65
-23.00
Yongmao Holding
SGD
0.21
0.21
0.00
0.00
0.08
146.99
Zoomlion
CNY
5.17
5.61
0.44
8.51
8.62
-34.92
*IC Share Index, 1 Jan 2011 = 100
**Legacy IC Share Index, end April 2002 (week 17) = 100
OCTOBER IC SHARE INDEX
CURRENCY
VALUE
VALUE
CHANGE
% CHANGE
VALUE 12
12 MTH
AT START
AT END
MTHS AGO
% CHANGE
CNY
6.1214
6.122
0.0006
0.01
6.288769
-2.65
€
0.7496
0.7409
-0.0088
-1.17
0.7728
-4.14
Yen
98.93
98.59
-0.34
-0.34
77.56
27.11
UK£
0.6496
0.6408
-0.0088
-1.35
0.6159
4.04
Period: Week 34 - 39
EXCHANGE RATES – US$
Tapering relief
suggests, it was a good period
for all the shares that make up
the Index, with all companies
in the industry apart from
Tadano seeing a gain.
In contrast, other Japanese
manufacturers were among
the strongest gainers over the
course of the month. Kobe
Steel was up nearly 15 %
between weeks 34 and 39,
while Hitachi was up more
than 12 %. The only other
company in the
IC
Index to
see a double-digit gain was
Terex, although Liugong was
not far off.
However, as
IC
went to
press, the good news about
QE looked as if it could be
offset by the US Government
shutdown, as the two sides
Share prices
kept on rising in
September as the
US Federal reserve
put off the much
feared ‘tapering’
of its quantitative
easing programme.
CHRIS SLEIGHT
Reports
of the house squabbled over
budgets and the debt ceiling.
Needless to say, this avoidable,
politically manufactured crisis
is something the markets
could do without, and is
particularly ill-timed given
the tepid economic growth
being seen around the world
this year.
Impact damage
It remains to be seen what
impact this will have on the US
economy or the psychological
damage it could inflict on
markets. The shutdown is also
likely to further weaken the
US Dollar, which has already
fallen over the last 12 months
against both the Euro and
Chinese Yuan.
■
T
he statement from the
US Federal Reserve
in mid-September
that it would continue with
its quantitative easing (QE)
stimulus programme gave
stock markets around the
world fresh impetus.
Prior to the Fed’s
announcement on 18
September, there had been
concerns that it would
start to wind down the QE
programme, which currently
sees it buy up bonds and other
assets at a rate of some US$ 85
billion per month. Chairman
Ben Bernanke, however, said
he would delay the so-called
‘tapering’ of QE because
unemployment was still high,
congress was squabbling over
forthcoming budget deadlines
and mortgage rates were rising.
Although markets will have
to come to terms with the
gradual turning-off of the QE
tap at some point, September’s
news provided something of a
boost. The Dow jumped back
above the 15,000-point mark
to finish week 39 at 15,328
points, a 2.44 % improvement
on its position from five
weeks earlier.
Promising gains
The FTSE 100 was more
subdued with a 1.69% rise,
but the Nikkei 225 was up
8.05 % and it was also buoyed
by the news that Tokyo had
been selected to host the 2020
Summer Olympics.
The
IC
Share Index also
rose between weeks 34 and 39,
with a 6.99 % gain to take it
to 61.07 points. As this figure
