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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.
BASIC INDUSTRIES
{6H}Industrials: Week in Review
- Industrial spreads fared in line with the index this week. Results suggest demand is generally ok, but a pattern of weakness in China is clear to see. Akzo Nobelresults, while ok overall, suggested ongoing construction weakness there. https://marketnews.com/basic-industries-akzo-nobel-akzana-baa2-bbb-nr-2q24-results.
- Tough market conditions for Verallia were confirmed, with leverage higher due to falling EBITDA, worse outlook than S&P suggested when their outlook changed in May. https://marketnews.com/basic-industries-verallia-vrlafp-baa3-bbb-nr-1h24-results.
- Earnings were otherwise generally uneventful with Thales, Stora Enso, Wabtec, Carrier Global, Saint-Gobain, Air Liquide and Bouygues largely in-line. Metso, UPM-Kymmene, Otis, Fortive, Dow, Raytheon, Honeywell and BASF were softer but not meaningfully so. GE, Amphenol, Hochtief, Anglo American, Dover, Holcim and 3M beat slightly.
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.
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