The share prices of FedEx, UPS, Deutsche Post DHL and TNT Express suffered further heavy losseslast week and performed weakly today amid mounting pessimism about the worldwide economic
prospects.Fears that the global economy might be heading back towards recession combined with worriesabout the European debt crisis drove investors out of stocks and into safer havens last week afterdisappointing US and EU economic figures.
The four worldwide express companies, who are partly seen as early economic indicators, wereall caught up in the general sell-off. The four integrators have seen their share prices drop inthe 15 – 25 per cent range since the start of July.
UPS dropped back from $65.88 last Monday (closing price) to end the week at $61.70, a declineof 6.34 per cent. The package company’s price declined about 8.75 per cent between August 1 andAugust 19 while it dropped 16.58 per cent between July 1 and August 19. Today the share wasperforming slightly better, up 0.34 per cent at $61.91 in late morning trading on the New YorkStock Exchange.
FedEx shares fell 10.62 per cent last week from $81.85 on August 15 to $73.16 on August 19.This represented a 14.93 per cent decline since August 1 and a 24.20 per cent fall since July 1.Today the FedEx share was down 1.09 per cent at $72.36 in late morning trading.
Deutsche Post saw its share price drop 8.7 per cent last week. This was a 15.31 per centdecline since August 1 and a 23.23 per cent drop since July 1. Today the stock performed betterslightly and closed up 0.54 per cent at €10.24.
TNT Express shares dropped 12.14 per cent last week, closing at €6.20 on Friday. This was a14.48 per cent fall since August 1 and a 15.26 per cent decline since July 1. The TNT stock droppedback 0.42 per cent today to close at €6.18.
