3M Co Exec Says Europe Remains Soft And China Was Down YoY Organically Due To Continued Market Softness
Portfolio Pulse from Benzinga Newsdesk
During a conference call, an executive from 3M Co stated that the company's performance in Europe remains weak and that its organic growth in China has declined year-over-year due to continued market softness.
October 24, 2023 | 1:16 pm
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NEGATIVE IMPACT
3M Co's declining organic growth in China could potentially impact the iShares China Large-Cap ETF (FXI), which tracks the performance of large-cap Chinese equities.
As 3M Co is a significant player in the market, its declining growth in China could potentially impact the overall performance of large-cap Chinese equities, and thus the FXI ETF.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
NEGATIVE IMPACT
3M Co's weak performance in Europe and declining organic growth in China could negatively impact its stock price in the short term.
The company's weak performance in Europe and China, two significant markets, could lead to a decrease in revenue and profitability, potentially negatively impacting the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
3M Co's weak performance in Europe could potentially impact the Vanguard FTSE Europe ETF (VGK), which tracks the performance of European equities.
As 3M Co is a significant player in the market, its weak performance in Europe could potentially impact the overall performance of European equities, and thus the VGK ETF.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60