ABB's Electrification Growth Is a Positive Sign for Peers -- Market Talk

Dow Jones

2024/10/17

1138 GMT - ABB's growth in the electrification business is a positive for Siemens, Schneider Electric and Legrand, JPMorgan analysts say in a research note. Utilities and data centers saw strong growth, confirming what is expected to be positive trends for its industry peers, they say. However, machine automation remained weak and while not entirely like-for-like reads to the automation businesses at Siemens and Schneider, their respective quarterly results are expected to point to still challenging market conditions, the analysts say. Shares trade 2.7% higher at 50.46 Swiss francs. (nina.kienle@wsj.com)

(END) Dow Jones Newswires

October 17, 2024 07:38 ET (11:38 GMT)

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