BUSINESS NEWS
13
INTERNATIONAL AND SPECIALIZED TRANSPORT
■
DECEMBER 2013
STOCK
CURRENCY
PRICE
PRICE CHANGE
%
PRICE 12
12 MTH
AT START AT END
CHANGE MTHS AGO % CHANGE
IC
Share Index*
53.91 53.85 -0.06 -0.10
47.11
14.31
Legacy IC Share Index**
363.31
363.97
0.66
0.18
249.80
45.71
Dow Jones Industrial Average
15509
16059
549.73
3.54
13025.58
23.29
FTSE 100
6706
6614
-92.37
-1.38
5887.56
12.33
Nikkei 225
14088
15655 1566.88
11.12
9458.18
65.52
Hitachi Construction Machinery YEN
2145
2172
27
1.26
1466
48.16
Konecranes
€
24.47
25.45
0.98
4.00
25.15
1.19
Kobe Steel
YEN
176
177
1
0.57
76
132.89
Liugong
CNY
6.71
6.55
-0.16
-2.38
7.91
-17.19
Manitowoc
US$
19.74
20.84
1.10
5.57
15.00
38.93
Palfinger
€
26.40
28.07
1.67
6.33
16.20
73.27
Sany Heavy Industry
CNY
7.20
7.03
-0.17
-2.36
7.62
-7.74
Tadano
YEN
1179
1421
242
20.53
623
128.09
Terex
US$
35.59
36.68
1.09
3.06
24.19
51.63
XCMG
CNY
7.85
7.70
-0.15
-1.91
9.66
-20.29
Yongmao Holding
SGD
0.20
0.23
0.03
15.00
0.08
194.87
Zoomlion
CNY
5.45
5.60
0.15
2.75
7.86
-28.75
*IC Share Index, 1 Jan 2011 = 100
**Legacy IC Share Index, end April 2002 (week 17) = 100
DECEMBER IC SHARE INDEX
CURRENCY
VALUE
VALUE
CHANGE
% CHANGE
VALUE 12
12 MTH
AT START
AT END
MTHS AGO
% CHANGE
CNY
6.083
6.092
0.0090
0.15
6.2303
-2.22
€
0.7237
0.7382
0.0145
2.00
0.7674
-3.80
Yen
97.02
102.94
5.92
6.10
82.25
25.16
UK£
0.6172
0.6112
-0.0060
-0.97
0.6233
-1.93
Period: Week 43 - 48
EXCHANGE RATES – US$
Year-end rally
Index has put on 14.3 % in
value in the last 12 months, its
growth has been outstripped
by both the Dow and Nikkei
(which has had a remarkable
year). One would usually
expect a cyclical sector like
cranes to charge ahead of
the broader markets when
times are good.
A realistic picture
The continued weakness,
however, among Chinese
manufacturers, many of
which have seen double-digit
losses over the last year, has
offset gains elsewhere.
These have not just been
limited to Japan’s crane
makers, with their share
prices moving up on the back
As 2013 drew to
a close, stock
markets were
showing every
sign of enjoying
the traditional
year-end rally.
Unfortunately
the crane sector
missed out again.
CHRIS SLEIGHT
reports
of broader market buoyancy –
many US and European
manufacturers have also had
a good year on the stock
markets in 2013.
But, perhaps, the crane
sector paints a more realistic
picture of the global
economy than indicators like
the Dow – a tepid recovery,
with question marks still
hanging over China’s return
to normality after its
enormous stimulus-driven
building boom.
Many would argue that
the Dow’s growth is more
down to investors looking
for a safe haven in a time of
falling gold prices and weak
bond returns, than a bullish
economic outlook.
■
A
s is customary in the
closing weeks of the
year, stock markets
put on something of a rally as
November ran into December
Most striking was the Dow,
which was lifted above the
16,000 point mark for the first
time in its history by buoyant
investor sentiment.
The Nikkei 225 also did
well, with a more than 11 %
gain, while the FTSE 100 was
disappointing with its 1.38 %
loss. There was also a drop in
value for shares in the crane
manufacturing sector, with
IC
’s share index losing 0.1 %
of its value.
Small improvements
The losses were to be
found among the Chinese
companies that make up
the
IC
Share Index, namely
Liugong, Sany and XCMG.
While these were only small
slides into the red, there was
not particularly any strong
growth in the sector to offset
this. Tadano stood out with its
more than 20 % rise in market
value but, elsewhere, the
sector was limited to single-
digit improvements.
Although more companies
moved up than down during
the week 43 – 49 period, the
high market capitalisation of
Sany, in particular, meant
that the whole sector was
dragged down.
This was the latest
disappointment in what has
turned out to be a poor year
for the manufacturing sector
as a whole.
Although the
IC
Share
