Observers identified good retail sales as the main props. In September these rose more than twice as much as expected. Consumer spending is a major driver of the US economy. In addition, the consumer confidence survey by the University of Michigan brightened more than expected in October. In contrast, data on industrial production and utilization lagged behind the forecasts of economists.
Boeing stocks were among the biggest winners in the Dow with a plus of over two and a half percent. According to the European aviation authority EASA, the aircraft manufacturer’s 737 Max crisis jet should be allowed to take off again this year. This means that the take-off ban for Boeing’s most popular aircraft type, which has been in force since March 2019, could be lifted after more than a year and a half. Aviation authorities from around the world revoked the Boeing jet’s approval after two crashes with 346 dead last year.
Pfizer shares were up more than two percent. The pharmaceutical company announced that it would apply for an emergency permit for its Covid-19 vaccine in November.
Owners of the recently battered Navistar shares could look forward to a significant price recovery of around 21 percent to 42.90 US dollars. The US truck manufacturer wants to knock out an even higher offer shortly before a takeover ultimatum by the VW truck holding Traton expires. The company and the two large shareholders Carl Icahn and the hedge fund MHR are ready to agree to a bid that has been increased to US $ 44.50, the Americans said. On Wednesday, Traton announced that it would let the previous takeover offer expire on Friday, which had put Navistar shares under great pressure. Traton had increased the offer just over a month ago from 35 to 43 dollars per share.
The fact that Hertz Global Holdings received a cash injection of 1.65 billion US dollars from financial investors in order to reposition itself in the ongoing insolvency proceedings brought the parent company of the car rental company Hertz a price doubling at times. Most recently there was a price jump of almost 80 percent.
In contrast, Schlumberger’s shares plummeted by almost seven percent. The oil field service provider disappointed investors with its sales development in the past quarter. At the information technology company Hewlett Packard Enterprise, the shareholders had to cope with a price drop of almost one percent despite an increased profit outlook.
Gilead Sciences shares fell nearly one percent. According to the World Health Organization (WHO), several potential corona drugs checked in worldwide test series have shown little or no benefit. This also includes the Gilead drug Remdesivir, which US President Donald Trump received after being infected with the Sars-CoV-2 virus. The drug is also approved in Europe for the therapy of Covid-19./gl/men
(AWP)
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