Iyo US yekudyara bhangi JP Morgan achangobva kucheka kukoshesa kweEuropean simbi makambani ArcelorMittal, Acerinox uye Aperam, dzese dzakanyorwa pamusika weSpanish. Panyaya yeAcerinox, iyo yakatemwa yauya pazvikamu zvakanyorwa paIbex 35, nekuchekwa kwe10,2% kubva pa10,6 euros kusvika ku11,8 euros pamugove. Izvi zvinopa iro rinogona kukwira kumusoro kwe15% kubva pamitengo yazvino. Iwo akateedzana ehunhu hwave hwakanyanya kukosheswa mumakore apfuura. Nedzimwe dzakakwirira dzakaiswa dzakatenderedza manhamba akapetwa kaviri.
Chero zvazvingaitika, zvese zvinoita senge zvinoratidza kuti kururamisa kuri padyo nekona mushure memushumo mutsva weboka iro US bank rekudyara JP Morgan rakagadzira. Mune chaiyo kesi yeArcelorMottal, iyo yakatemwa ye JP Morgan kukosha kwayo kuri pazvikamu zvakanyorwa paEuronext Amsterdam. Vanoongorora kubhangi reUS vakacheka mutengo wavo kubva pa € 36,5 kusvika pa € 26,5 pamugove. Uku kucheka kwakadzika kwazvo uko kunogona kutamba vachipesana nevashambadzi vadiki nepakati avo vakamira mukambani iyi muindasitiri yesimbi.
Kune rimwe divi, European Commission yauya kuzonongedza mumazuva ekutanga egore idzva izvo ichaisa mitero ye25% kune zvigadzirwa zvemarudzi makumi maviri nematanhatu esimbi zvigadzirwa kubva kumatatu nyika. Ichi ndicho chimwe chinhu chisingatambe mukufarira bhizinesi rezvemakambani akanyorwa. Kwete pasina, hazvigone kutongwa kunze kwekuti mune anotevera masiteki emusika zvikamu zvakadzika kudonha zvinogona kukura mumakambani avo. Mupfungwa iyi, isu hatigone kukanganwa panguva ino kuti makambani aya ari cyclical stock.
Simbi makambani: cyclical tsika
Sezvo aya ari mitsara yebhizimusi, iwo anonyanya kufunga nezvekuchinja kwehupfumi hwehupfumi. Izvi mukuita zvinoreva kuti mu nguva dzekuwedzera kwehupfumi vanoita zvirinani mumisika yequity kupfuura mamwe matunhu emakambani Asi zvinopesana, mhedzisiro yacho yakanyanya kuwedzera munguva dzehupfumi hwehupfumi. Neichi chikonzero, kuuya kweupfumi hutsva hwehupfumi pachiitiko chenyika dzese pasina mubvunzo kwaizoreva kusimba kwakanyanya kwemitengo. Nesimba rinokwanisa kusvika madonhwe anotenderedza 20% kana 30%, sezvakaitika mumakore apfuura.
Nepo pane zvinopesana, hazvigone kukanganikwa kuti chero kudzikira kwehupfumi International ichave nemhedzisiro yakaipa kwazvo mukirasi iyi yemakambani. Mune zvese uye pasina chero rudzi rweganhuriro. Aya ndiwo mamiriro ezvinhu anogona kubuda kubva kuderera kwehupfumi uye kune vashoma nevapakati varimari vanofanirwa kutarisisa. Ine ziso rekupinda kana kubuda mumisika yemari, zvinoenderana neyakaitika nyowani yepasi rose inobuda. Kushandisa imwe kana imwe nzira yekudyara kuitira kuti mari ichengetedze pamusoro pezvimwe zvinhu.
Nzvimbo isingafadzi yevagadziri vesimbi
Mukati meichi chiitiko chakazara, fungidziro yemasangano epasi rose haina kukoshesa zvido zvemakambani esimbi mune zvese. Mupfungwa iyi, iyo IMF inoronga a chiyero chekukura kwe3,5% pasi rose ye2019 uye 3,6% yegore ra2020. Iwo 0,2 uye 0,1 muzana mapoinzi, zvichiteerana, pazasi pekufungidzira kwavo munaGumiguru, zvichiita kuti ive yechipiri kudzikira kudzokorora mumwedzi mitatu.
Iyi data inogona kukuvadza makambani ese ari muchikamu sezvo mitengo yavo inogadziriswa mumwedzi iri kuuya. Mushure mekukudziridza kukwidza izvo zvakagara makore mazhinji. Naizvozvo, haisi yakanakisa nguva yekumisikidzwa mune chero eaya makambani akanyorwa anoenderana nehupfumi hwekutenderera. Pane zvimwe zvingasarudzwa zvinogona kubatsira zvakanyanya kubva panguva ino. Semuenzaniso, kukosha kwehuwandu hwakawanda hunochengetedza sekuchengetedza zvido zvevashambadzi vadiki nepakati.
Bond nyaya
Kune rimwe divi, zvinofanirwa kucherechedzwa kuti mamwe makambani esimbi anopa mamwe masisitimu ekudyara kuburikidza yakatarwa misika yemari. Iyi ndiyo nyaya chaiyo yeArcelorMittal, iyo ichangobva kuzivisa kuburitswa kwemabhondi nemari yakatarwa yemitengo inokwana 2,250% pamutengo wemamiriyoni mazana manomwe emamiriyoni euros mukati mehurongwa hweEEMNN Chirongwa chemutengo wemamirioni zviuru gumi. Kuvharwa kwenyaya kwakaitika nhasi. Izvo zvisungo zvakapihwa pasi peArcelorMittal's € 750 bhiriyoni Euro-yakatemerwa Medium-Term Bond Chirongwa (EMTM Chirongwa), chakanangana nevamiriri vemari.
Mune imwewo nzira, uye zvine chekuita nenhau dzinogadzirwa kubva kukambani imwe chete yakanyorwa, zvinofanirwa kucherechedzwa kuti yatorawo chinzvimbo chehutungamiriri mukusimudzirwa kweSponsibleSteel uye mukuzvipira kuchirongwa ichi chakasimudzirwa nemasangano kubva kunzvimbo dzakasiyana siyana ne Chinangwa chekugadzira yekutanga yepasi rese chitupa sisitimu yesimbi indasitiri.
Kubudirira mukukura kwayo
ResponsibleSteel yakavambwa mu2015 sesangano risingabatsiri kuitira kusimudzira ramangwana rine hunyanzvi kune iyo simbi indasitiri. Ichi chinangwa chinozadzikiswa kuburikidza nekuvandudzwa kwechirongwa chekutanga chesitifiketi pasirese, uye zviyero zvinoenderana nazvo, kune rese kukosha kwecheni yeindasitiri yesimbi, kubva kumabasa ezvemigodhi nemaitiro ekugadzira kusvika pakushambadzira nekuparadzira zvigadzirwa zvakagadzirwa.
Iwo setifiketi zviyero zvichafukidza zvinotevera nzvimbo:
- Shanduko Yemamiriro ekunze uye Gesi yeGreenhouse Emissions.
- Inotarisirwa Management yeMvura uye Biodiversity.
- Kodzero dzevanhu uye Mutemo Wevashandi.
- Nharaunda Dzenharaunda uye Bhizinesi Kuvimbika.
Acerinox mhedzisiro
Nezve iyo imwe hombe simbi kambani yakanyorwa pane kuenzana kwenyika yedu, mhedzisiro bhizimusi mhedzisiro iri chaizvo kune vanofarira vemari. Mupfungwa iyi, Acerinox inowana 221 mamirioni euros, mushure memitero uye zvido zvevashoma, mukati memwedzi mipfumbamwe yekutanga ya2018. Mhedzisiro yacho iri 40,5% yakakwira kupfuura iyo yenguva imwe cheteyo ya2017, umo kambani yakanyoresa 157 mamirioni euros.
Saka boka rinowana zvibodzwa zvaro zvakanakisa zvemakore gumi apfuura mumakota matatu ekutanga egore uye rinowedzera iro mari inosvika kumamirioni 3.872 emamiriyoni, 10,3% kupfuura panguva imwecheteyo ya2017. EBITDA yemwedzi mipfumbamwe yekutanga yegore yaive 14,1% yakakwira kupfuura iyo yezvikamu zvitatu zvekutanga zvegore rapfuura, ichisvika mamirioni makumi mana nemaviri emamiriyoni zvichienzaniswa ne422 ipapo. Chikamu chechitatu cha370 chakavhara nemari yemamirioni makumi masere nematatu (2018% kupfuura mamirioni makumi masere emwedzi mitatu yapfuura) ichiwedzera ne83 zvibodzwa zvenguva imwechete yegore 4. Mhedzisiro iyi inokonzerwa nemamiriro akanaka eiyo mwaka kudiwa kwesimbi isina tsvina mumisika huru, kunyanya muUnited States.
Mimwe mitsara yebhizinesi
Nezve zvigadzirwa, pakati paNdira naSeptember pane kuwedzera kwe1,9% mumatare esimbi uye 5,7% mukutenderera kunotonhora, pamwe nekudzikira kudiki kwe0,5% mukupisa kunopisa, nguva dzose zvine chekuita nemwedzi mimwe cheteyo ya2017. Kune rimwe divi, yekupedzisira Kurume kwakatanga chikamu chekuyedza cheiyo nyowani AP-5 annealing uye pickling mutsetse weAcerinox Europa (Campo de Gibraltar, Spain), timu ine epamusoro-soro masisitimu ehunyanzvi uye nhanho yemakwikwi inozogadzira hutsva hunhu, ichidzikisa mutengo. uye kukanganisa kwezvakatipoteredza.
Kutanga kwemitsara mitsva kuri kuratidza kunogutsa kwazvo. Nemutsara uyu mutsva, Acerinox Europa inopa yakatetepa ukobvu (ine upamhi hwe1.500 3 mm) kune ayo ekupedzisira vatengi, nokudaro ichiwedzera huwandu hwayo hwezvigadzirwa. Uye zvakare, mukati memwedzi waNyamavhuvhu naSeptember, AP-5 annealing uye pickling mutsetse, zvakare kubva kuAcerinox Europa, yakanyatsogadziriswa kuti inyatsoita mukobvu mukobvu, ichizadzisa yapfuura AP-XNUMX uye ichizopa iyo ne pickling hurongwa iyo inobvumidza kuwana iyo nhanho yemhando yakafanana neiyo yemutsara mutsva.
Dividend kuwedzera
Iyo Acerinox, SA Board of Directors, yakaitwa nezuro, yakafunga kupa pfungwa kune inotevera Ordinary General Musangano weVashandi veKambani kuwedzerwa mugove we11%, uyo ichaenda kubva ku0,45 kusvika ku0,50 euros mugove. Nechinangwa chimwe chete chekuwedzera mibairo pamugove, Bhodhi revatungamiriri richakurudzira kudzikisa huwandu hwezvikamu zvakaburitswa mumakore mana (2013-2016) umo mubairo wakabhadharwa kuburikidza nedividendi inoshanduka kana chikamu chechikamu. Kusvika izvi, zvakabvumidzawo Chekutanga Kugovana Chirongwa Chekudzikinura kune yavo inotevera kununurwa.
Mune izvo zvinoumba chimwe chekurudziro kubva kune vadiki nevepakati varimi kuti vatore zvinzvimbo mumakambani mune ino chikamu yakapihwa purofiti yemubhadharo uyu kune wekugovana. Izvi zvinopa iro rinogona kukwira kumusoro kwe15% kubva pamitengo yazvino. Iwo akateedzana ehunhu hwave hwakanyanya kukosheswa mumakore apfuura. Nedzimwe dzakakwirira dzakaiswa dzakatenderedza manhamba akapetwa kaviri.