BUSINESS NEWS
15
INTERNATIONAL AND SPECIALIZED TRANSPORT
■
SEPTEMBER 2013
STOCK
CURRENCY
PRICE
PRICE CHANGE
%
PRICE 12
12 MTH
AT START AT END
CHANGE MTHS AGO % CHANGE
IC
Share Index*
54.63 56.54
1.91
3.49
57.64
-1.90
Legacy IC Share Index**
333.20
344.14
10.94
3.28
232.23
48.19
Dow Jones Industrial Average
15559
14964 -595.09
-3.82
13157.74
13.73
FTSE 100
6596
6433 -162.53
-2.46
5765.12
11.59
Nikkei 225
13661
13661
-0.58
0.00
9033.29
51.22
Hitachi Construction Machinery YEN
2037
1997
-40
-1.96
1374
45.34
Konecranes
€
22.95
24.18
1.23
5.36
20.29
19.17
Kobe Steel
YEN
145
161
16
11.03
63
155.56
Liugong
CNY
6.08
6.12
0.04
0.66
8.72
-29.82
Manitowoc
US$
19.11
21.17
2.06
10.78
12.57
68.42
Palfinger
€
23.70
25.50
1.80
7.57
17.54
45.35
Sany Heavy Industry
CNY
6.84
7.08
0.24
3.51
10.85
-34.75
Tadano
YEN
1383
1440
57
4.12
549
162.30
Terex
US$
28.49
30.97
2.48
8.70
20.28
52.71
XCMG
CNY
7.35
7.75
0.40
5.44
11.14
-30.43
Yongmao Holding
SGD
0.17
0.21
0.04
24.24
0.10
99.03
Zoomlion
CNY
5.01
5.17
0.16
3.19
8.12
-36.33
*IC Share Index, 1 Jan 2011 = 100
**Legacy IC Share Index, end April 2002 (week 17) = 100
AUGUST IC SHARE INDEX
CURRENCY
VALUE
VALUE
CHANGE
% CHANGE
VALUE 12
12 MTH
AT START
AT END
MTHS AGO
% CHANGE
CNY
6.1346
6.1214
-0.0132
-0.22
6.3582
-3.72
€
0.6501
0.7496
0.0995
15.30
0.6338
18.27
Yen
97.97
98.93
0.96
0.98
78.52
25.99
UK£
0.7537
0.7496
-0.0040
-0.54
0.8010
-6.42
Period: Week 30 - 34
EXCHANGE RATES – US$
Cranes buck the trend
and has been above the 15,000-
point mark for much of the
time since early May. Indeed, a
new high of 15,658 points was
set in early August, before the
tail-off towards the end of the
month.
Another side
In contrast, the
IC
Share
Index was down 14.51 % for
the year to the end of August,
with those losses coming
mainly from China. Indeed,
the Legacy
IC
Share Index, an
older measure of the sector
which excludes Chinese
manufacturers, was up 11.51 %
over the same period – more
or less the same level of growth
Crane
manufacturers'
shares enjoyed
modest growth in
August, despite
a decline on the
wider markets.
CHRIS SLEIGHT
reports
as seen by the Dow.
As has previously been
discussed in this column, the
Dow’s and other’s remarkable
performance this year has been
somewhat artificial. Growth
has not been due to the
normal stock market drivers
of corporate profitability and
economic growth. Rather, it
has been a case of investors
looking for a relatively safe
haven at a time when gold has
lost some of its shine and bond
yields are weak.
What changed in August
was that bond yields started to
recover, which has seen some
money go out of equities and
back into debt instruments.
■
I
C
’s Share Index for a basket
of 12 crane manufacturers
enjoyed a 3.94% rise in
August. Although not a
spectacular increase, the same
period from week 30 to 34 saw
many of the most-watched
mainstream market indicators
lose ground.
As regular readers of this
column will realise, this was
very much against the run
of play that has been seen so
far this year. To date, 2013
has been characterised by
the mainstream benchmarks
charging ahead, while
weakness among Chinese
manufacturers has seen the
crane sector left behind.
Mainstream falls
But last month gains for the
crane sector were contrasted
by a 3.82 % fall in the Dow and
a 2.46 % drop in the FTSE 100
index, while the Nikkei 225
was flat overall.
To put these losses in
context, all three indices have
had a remarkable time of it in
2013. The Dow, for example,
hit a new record high in March
The Dow’s
and other’s
remarkable
performance
this year has
been somewhat
artificial.
