EU AUTOMOTIVE: Volkswagen (VW A3[N]/BBB+/A-): Margin Targets Pushed Bank
Jan-30 09:10
- Handelsblatt reported that VW now expects its Passenger Cars EBIT margin target of 6.5% to be reached in three to four years, rather than by end-2026 as previously planned.
- Consensus has 2% for 2024, rising to 3% by 2026; clearly the market already had little confidence in this goal. Passenger Cars is currently only responsible for around 12% of EBIT.
- The paper also reports that some board members are calling for further costs savings, which would bring a renewed cycle of uncertainty and potential strike action.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
SONIA: Call Condor
Dec-31 08:54
SFIH5 95.45/95.50/95.60/95.65c condor, bought for 1.75 in 1k.
MNI EXCLUSIVE: Interview with BoF Senior Economist
Dec-31 08:31
Bank of France senior economist Klodiana Istrefi discusses expressions of uncertainty and interest rates. On MNI Policy MainWire now, for more details please contact sales@marketnews.com
SILVER TECHS: Bearish Cycle Remains Intact
Dec-31 08:05
- RES 4: $34.903 - High Oct 23 and the bull trigger
- RES 3: $33.125 - High Nov 1
- RES 2: $32.338 - High Dec 12 and a key resistance
- RES 1: $30.676 - 50-day EMA
- PRICE: $28.945 @ 07:58 GMT Dec 31
- SUP 1: $28.748 - Low Dec 19
- SUP 2: $28.446 - 76.4% retracement of the Aug 8 - Oct 23 bull cycle
- SUP 3: $27.686 - Low Sep 6
- SUP 4: $26.451 - Low Aug 8
A bear cycle in Silver that started Oct 23 remains in play. The metal has recently breached support at $29.642, the Nov 28 low. The break lower opens $28.446, a Fibonacci retracement. Note that moving average studies are in a bear-mode position highlighting a dominant downtrend. Key resistance has been defined at $32.338, the Dec 12 high. A break of this level would signal a reversal.
