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)
Copyright (c) 2024 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.