MNI China Daily Summary: Monday, July 22

MNI BRIEF: PBOC Lowers Ceiling of Its Interest Corridor

MNI: China CFETS Yuan Index Down 0.05% In Week of Jul 19

MNI: PBOC Sets Yuan Parity Higher At 7.1335 Mon; -1.18% Y/Y

MNI: PBOC Conducts CNY58.2 Bln Via OMO Mon; 7day Repo Rate Cut

MNI BRIEF: PBOC Cuts 7-Day Repo Rate By 10bp

CBRT Data Watch

NBH Data Watch

Pay concerns push back easing expectations; curve flattens

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Volkswagen (A3/BBB+): 1Q24 Results

CONSUMER CYCLICALS
Credit BulletsBulletHomepagemarkets-real-timeCredit

Marginally negative for spreads. A weak quarter as flagged by management. The market will likely give the benefit of the doubt with the path to confirmed FY targets still credible, but not without execution risks.


• Revenue beat by 1%, while adj. EBIT missed by 5%. Margin at 6.1% is well below 7-7.5% FY forecast. Car division was particularly weak with continued supply issues at Audi and ramp down ahead of new product launches.

Keep reading...Show less
112 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Marginally negative for spreads. A weak quarter as flagged by management. The market will likely give the benefit of the doubt with the path to confirmed FY targets still credible, but not without execution risks.


• Revenue beat by 1%, while adj. EBIT missed by 5%. Margin at 6.1% is well below 7-7.5% FY forecast. Car division was particularly weak with continued supply issues at Audi and ramp down ahead of new product launches.

Keep reading...Show less