Global Research and Evidence Lab 13 August 2024 US Economic Data NFIB: Stronger small business sentiment Economics Americas Small business optimism rises with expectations for economic improvement The NFIB small business optimism index rose 2.2 points to 93.7 in July, ahead of our estimate of 91.9 but well above consensus expectations for the index to be unchanged at 91.5. This marks the fifth consecutive month of improvement in the index but from a low base, with the level of the index remaining below its ...

Global Research and Evidence Lab 13 August 2024 Equities Japan Retail Sector July 2024 sales (announced 9 and 13 August): SEJ's same-store sales continue to seesaw Japan Retail Welcia HD (3141): Sales missed the company's plan again in July Monthly sales (end of month, FY2/25): Group same-store sales rose 0.3% yoy, with customer numbers down 1.0% yoy and sales per customer up 1.3% yoy. By category, product sales fell 2.4% yoy (pharmaceuticals -0.5%, hygiene and nursing care -8.8%, counselling cosmetics -4.2 ...

Global Research and Evidence Lab 13 August 2024 US Economic Data Core PPI perks up a little Headline producer prices edge up 0.1% in July, core rises 0.3% The headline Producer Price Index (PPI for final demand) increased 0.1% in July, in line with our expectations (0.1%) and a touch below consensus (0.2%). Prices for final demand goods climbed 0.6%, on the back of the 1.9% increase in energy prices. The volatile trade services weighed on the monthly gain, holding down the increase in headline PPI by 0.3 pp ...

Global Research and Evidence Lab 13 August 2024 First Read Japan Retail Sector Jiji Press report: Government to alter the consumption tax-exemption system – as has been expected; no surprises Summary On 13 August, Jiji Press reported that the government and current ruling party will proceed with a fundamental review of the consumption tax-exemption system for visitors to Japan. Specifically, the report said the system will change so that consumers get their tax refund after it is confirmed that tax-free pur ...

Global Research and Evidence Lab 13 August 2024 Tsuruha Holdings Revising forecasts: Showing merger effects will be important Action: Earnings update We are updating our earnings estimates. In addition to lowering our OP forecast slightly, we are reflecting growth in the number of stores for the overall sector and continued upward pressure on labour costs over the medium term, and we are changing our OP margin forecast from FY5/30 onward from 4.5% to 4.0%. Measures to maintain or increase profitability in t ...

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Global Research and Evidence Lab 13 August 2024 Japan Food Sector Stock recommendation preferences based on April-June results Equities Japan Food & Beverage Rei Ihara Analyst rei.ihara@ubs.com +81-3-5208 6227 Changing our stock preference order based on April-June results Our impression from results is that, amid the uncertain macroclimate, share prices reacted sharply to the results figures, which are concrete information. More specifically, 1) however high the medium- and long-term growth prospects may b ...

报告行业投资评级 - 报告未提供具体的行业投资评级 [3] 报告的核心观点 - 日本股市在8月出现大幅下跌,主要受到美国经济放缓和日元急升的影响,但随后又快速反弹 [3] - 报告认为需要谨慎关注宏观环境,特别是美国经济,同时关注日本企业的经营情况和公司治理改善措施 [4] - 近期多家大型日本企业宣布了百亿日元以上的股票回购计划,显示企业正采取措施提升价值 [4] 行业分类总结 宏观经济环境 - 日本股市8月出现大幅下跌,主要受到美国经济放缓和日元急升的影响 [3] - 需要谨慎关注美国经济走势 [4] 企业经营情况 - 日本企业2023年4-6月财报总体良好 [4] - 多家大型企业宣布大规模股票回购,显示企业正采取措施提升价值 [4] 公司治理 - 报告提到日本企业正在采取改善公司治理的措施 [4]

Global Research and Evidence Lab 14 August 2024 First Read ONE LINER KEY NUMBERS RESULT HIGHLIGHTS GUIDANCE UBS COMMENT CALL/WEBCAST Valuation: Neutral rated A$3.70/sh (unchanged) Equities Australia Precious Metals 12-month ratingNeutral 12m price target A$3.70 Price (14 Aug 2024) A$3.81 RIC: EVN.AX BBG: EVN AU Trading data and key metrics 52-wk range A$4.16-2.88 Market cap. A$7.53b/U$$4.99b Shares o/s 1,976m (ORD). Free float 99% Avg. daily volume ('000) 8,394 Avg. daily value (m) A$32 Common s/h equity (0 ...

Global Research and Evidence Lab 14 August 2024 First Read Orora UBS SnapShot: FY24 EBIT better than feared ONE LINER FY24 better than feared and will support re-basing of FY25 consensus estimates. KEY NUMBERS (A$) FY24 rev.: Up +9% to $4.7bn (+1% vs. UBSe, +2% vs. VA cons). EBIT: Up +26% to $404mn (+5% vs. UBSe & +6% vs. VA cons). EBIT (ex Saverglass): +1% to $323mn (+3% vs. UBSe/VA cons). UNPAT: Up +10% vs. pcp to $224mn (+10%vs. UBSe/VA cons). Final DPS: 5cps (unfranked) vs. VA cons. 3.7cps. Net Op. CF: ...