Auto Sector Faces the Hardest Week

The week ahead is heavy with earnings, and the automotive industry sits at its centre. Ferrari reports tomorrow, Tuesday 3 November, with Austrian car registration data pointing sharply lower. That leading indicator runs 75% below the same quarter last year, all three months in. It is the weakest read in the dataset's history for the period.

Wednesday brings Sony Group and Renault. Dutch car data, which leads Renault revenue by 43 days, is running down 19% year-on-year. Austrian data used as a Renault indicator is up just 6%. The picture is mixed. Polestar also reports Wednesday. Dutch car registrations, a strong-fit leading indicator for Polestar with a 60-day lead, are down 37% on the same quarter last year. German car data, another strong-fit signal, is running 32% above year-ago levels. The two signals pull in opposite directions.

Honda Motor reports Thursday, 6 November. Japanese car registrations, a strong-fit leading indicator with a 65-day lead, are running 10% below year-ago levels across all three months. Allstate posts Q3 numbers on Wednesday, one of the largest US insurers to report this week with a market cap above $65 billion.

Albemarle releases Q3 results on Tuesday. The lithium miner trades at roughly $10.7 billion. Charter Communications reports Thursday.

No IPOs are scheduled in the next seven days. The MSCI World November review announces on 11 November, seven sessions away. Xero sits just 2.3% above its exit line at a 52% deletion probability, with $522 million of forced selling at stake if it falls.