Order intake at 1,468.7 MEUR was 9.5% higher than the previous year’s reference period (Q3 2017: 1,341.2 MEUR) in the third quarter of 2018 and thus continued the favorable development of the preceding quarters. As a result, order intake in the first three quarters of 2018 developed very favorably, rising to 4,738.0 MEUR. This is an increase of 15.2% compared to the previous year’s reference period (Q1-Q3 2017: 4,112.5 MEUR); all four business areas were able to increase their order intake compared to the previous year. The order backlog as of September 30, 2018 amounted to 6,882.8 MEUR and increased by 7.8% compared to the end of 2017 (6,383.0 MEUR) as a result of the higher order intake in the preceding quarters. Sales rose in the third quarter of 2018 by 5.4% compared to the previous year’s reference period (Q3 2017: 1,364.6 MEUR) to reach 1,437.7 MEUR. This more than compensated for the slight decline in sales in the first half year, with the result that sales in the first three quarters of 2018, at 4,200.8 MEUR, were slightly higher than the level of the previous year’s reference period (+1.4% compared to Q1-Q3 2017: 4,143.6 MEUR). Click read more below for additional detail.
Oil prices rose on Friday, boosted by the prospects of new stimulus measures from the European Central Bank, but were still on track for a weekly loss.
The market was also looking forward to data later on Friday expected to show another decrease in the number of rigs drilling for oil in the U.S. Although the rig count has fallen by more than 60% since last year, production has kept near multiyear highs and inventories have recently increased.
“The outlook for more ECB stimulus improves the sentiment, but the continued U.S. crude oil build weighs on prices,” said Michael Poulsen, analyst at Global Risk Management.
Brent crude, the global oil benchmark, rose 0.5% to $48.30 a barrel on London’s ICE Futures exchange. On the New York Mercantile Exchange, West Texas Intermediate futures were trading up 0.1% at $45.44 a barrel. Still, both benchmarks were on track to fall by about 4% for the week.
ECB President Mario Draghi said on Thursday that the bank was “open to a whole new menu of monetary-policy instruments” to help jump-start the region’s economy, which has been grappling with ultralow inflation and lukewarm recovery. Investors are anticipating an expansion of the ECB’s €60 billion ($68 billion) a month bond-buying program, known as quantitative easing, or QE.