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TRANSPORT MARKET COMMENT
* USA - An Indicator That's Lagging: Dow Transports
New York,NY,USA -Dow Transports/The Wall Street Journal, by JUSTIN LAHART -October 15, 2007: -- The Dow Jones Industrial Average may have recaptured its highs of the summer, but there is a longstanding belief among some investors that if the Dow Jones Transportation Average doesn't catch up, this is destined to become the little rally that couldn't... Dow Theory, which is based on investing guidelines first put forth by The Wall Street Journal founder Charles Dow more than 100 years ago, says that new highs in the Industrial Average need to be confirmed by new highs in the Transportation Average. On Friday, the Industrial Average rose 77.96 points to a record 14093.08. The Transportation Average finished at 4940.76, 9.3% below the record it hit in July... Mr. Dow's basic idea was that if industrial companies were doing better, they were shipping more, and that benefited transportation companies. Both the economy and the stock market are different now... (Image from: www.the-california-trucking-company.com)* Europe - Upbeat assessment of the outlook for European truckmakers
London,UK -Bloomberg -16 Oct 2007: -- Scania, up 6.9 per cent to SKr185, was the leading gainer from the Eurofirst 300 after Goldman Sachs raised its price target from SKr165 to SKr180 as part of an upbeat assessment of the outlook for European truckmakers... High growth in eastern Europe markets is benefiting the sector and Goldman expects increases in production capacity to ensure strong revenue growth continues in 2008... Goldman added MAN, up 4.1 per cent to €111.75, to its “conviction buy” list after raising its price target from €113 to €125 and noting the German company could return up to €2bn to shareholders if it does not pursue further acquisitions...
Volvo increased 1.6 per cent to SKr140.25 after Goldman increased its price target from SKr125 to SKr150.
Labels: trucking industry comments
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