The German automaker Volkswagen seems to roll in the opposite direction of the current law of markets. While stocks collapse, the action of the "People's Car" steals record after record. ( Finance Information City )
Some will see perhaps a sign of the times, even the mark of destiny .... unless this are for Porsche or investment funds.
This week, in full financial crisis, the title Volkswagen reached a new record, to 452 euros. Friday, while global bourses were panic, the action s'envolait still nearly 7% to 317 euros on an index Dax (German stock index) falling 8.8% around 12:30 GMT.
According to German financial analysts, no rational explanation may be invoked, the current had nothing to do with its real value, about twice as high. What losing his "Latin" (if we have to ...) then no sector seems immune, but on the contrary, the automobile, particularly affected by degradation the economy is very exposed to risk. Some U.S. manufacturers falling even Charydbe in Scylla.
Better yet! Volkswagen has paid the "luxury" to dethrone the global automotive, Japanese Toyota, in terms of market valuation, with more than 90 billion euros, against 80 for his rival around Asia.
According to the calculations of the Financial Times, the capitalization of Volkswagen (nearly 94 billion euros) now weighs heavier than Daimler, BMW, GM, Ford, Fiat, PSA, Renault, Mitsubishi and Hyundai combined.
Experts temper anyway. Because if Volkswagen is doing well now with sales expected to reach a new record this year, the recession should reduce its turnover.
But what about behind the "behavior" rather strange course of action? Remember that Volkswagen is being bought by his compatriot Porsche, which already holds more than 35% of the capital and aims to exceed the threshold of 50% by the end of November.
But the specialist sports cars regularly repeat it currently buys no effect on the market. What does anyone buy or sell in exchange for him.
For months, Porsche holds stock options, concluded with banks. But they saw the approaching deadline, must purchase securities en masse to honor their commitments. According to brokers, banks may have waited until the last moment by capitalizing on a downward course, caused by the crisis.
Speculative funds were also betting on a fall in the title via the principle of selling. In this context, they must now transfer their positions and acquire new VW shares to limit their losses.
The German authority on financial markets said that it "reviewed the data." But "this is not a formal investigation", according to a spokesman.
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