• TickerA2DHZ4
  • ISINIT0001353140
  • SectorFinancial Services
  • CountryItaly

Exor Analysis

Exor N.V. is a holding company,incorporated in the Netherlands and controlled by the Italian Agnelli family. It has a capitalization of nearly US$24 billion, with a history of investments running over a century. Its most important investments include Fiat Chrysler Automobiles, PartnerRe, Ferrari, CNH Industrial, Juventus and The Economist. It is the 24th largest group in the world, according to the 2019 Fortune Global 500 List.

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 10/02/2020 - Exor

Exor (Achat) : Une cession potentielle de PartnerRe pour environ $9 mds BMPS (Vente) : Perte nette de €-1 md en 2019 (vs un RN de €279m un an avant) Credito Emiliano (Conserver): RN de €201m (+7,8%) en 2019 Axa (Achat) : En discussion pour céder ses activités en Europe centrale et orientale à Uniqa Insurance (Achat) Airbus (Conserver) est en pourparlers pour racheter à Bombardier (Achat) sa part dans la co-entreprise A220 Abbvie : Résultat opérationnel de $13mds (+103%) en 2019 Pemex (Vente) : Besoin de $10,7 mds de financement en 2020 ...

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 04/12/2019 - Ageas - FR

Ageas (Achat) : Nouvelle émission d’un titre RT1 Bawag (Achat) : Cerberus cède 8% du capital Chubb : Emission de deux obligations en euros Repsol (Achat) : Dépréciation de €4,8 mds, mais améliore son positionnement ESG Exor (Achat) : Acquisition de 43,78% dans GEDI pour €102,5m Orange (Achat hybrides) : Cède 1 500 sites non-stratégiques en Espagne à Cellnex (Achat) Glencore (Conserver) : Revoit à la baisse ses perspectives pour l’exercice 2019 Atlantia (Conserver) : Moody’s abaisse sa note d’un cran à Ba1, la perspective est néga...

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 04/12/2019 - Ageas - EN

Ageas (O/P): New RT1 (restricted tier one) issue Chubb: Issued Two Bonds In Euros (5Y and 10Y) Repsol (O/P): Impairment Charge Of €4.8bn, But Improves Its ESG Positioning Exor (O/P): Acquisition of 43.78% In GEDI For €102.5m High Yield: We Initiate An Outperform Recommendation (+) On International Design Group Orange (O/P On Hybrid Bonds): Sale of 1.500 Non-Strategic Towers To Cellnex (O/P) Glencore (M/P): Revises Its Outlook For 2019 Atlantia (M/P): Moody's Lowers Its Rating One Notch To Ba1, The Outlook Is Negative Ita...

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 22/11/2019 - Exor- EN

TP ICAP - Europe - Morning CreditUpdate 22/11/2019 - Exor- EN

Valérie GASTALDY

Analyse moyen terme - EXOR SPA : La moyenne mobile sert de support.

La tendance est toujours haussière, son niveau d'invalidation est sous 46,80 €. L'objectif est à 67,60 €.Arguments :- Les cours ont fait un pull-back sur le support (ancienne résistance), la hausse reprend.- La moyenne mobile sert de support.

Valérie GASTALDY

Medium term view - EXOR SPA : The moving average is supporting prices.

The trend is still bullish, the invalidation level is below €46.80. The target is at €67.60.Arguments :- Prices have pulled back to the support level (previously a resistance). The rise is now resuming.- The moving average is supporting prices.

Louis AZAIS

Short term view - EXOR SPA : The moving average is supporting prices.

The trend remains neutral. Prices will have to break above the peak at €61.60 for the trend to be positive again with an invalidation level below €56.80.Arguments :- The moving average is supporting prices.

Louis AZAIS

Analyse court terme - EXOR SPA : La moyenne mobile sert de support.

La tendance est toujours neutre. Il faut franchir le sommet à 61,60 € pour que la tendance devienne positive avec une invalidation sous 56,80 €.Arguments :- La moyenne mobile sert de support.

Louis AZAIS

Short term view - EXOR SPA : Bullish gap

The trend is still bullish. No indicator nor pattern are questioning it. The invalidation is below €59.65. The target is at €64.40Arguments :- The bullish gap opened as prices break out of the pattern announces a rally.

Exor Analysis

Exor N.V. is a holding company,incorporated in the Netherlands and controlled by the Italian Agnelli family. It has a capitalization of nearly US$24 billion, with a history of investments running over a century. Its most important investments include Fiat Chrysler Automobiles, PartnerRe, Ferrari, CNH Industrial, Juventus and The Economist. It is the 24th largest group in the world, according to the 2019 Fortune Global 500 List.

Italian Chance

​Italy’s Exor has been reshaping PartnerRe after buying the company for about $6 billion this year. PartnerRe in August added Nikhil Srinivasan, chief investment officer of Assicurazioni Generali SpA, to its board as the company rearranges its investment portfolio, building property bets. Exor also controls Fiat Chrysler Automobiles NV and Ferrari NV and has said reinsurance offers an opportunity to diversify operations. We divide our report in 3 sectors:- Ratio summary- Peer group confrontation- Next 90/180 days share price movement forecasting using our proprietary “Evidence Based Performanc...

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 10/02/2020 - Exor

Exor (Achat) : Une cession potentielle de PartnerRe pour environ $9 mds BMPS (Vente) : Perte nette de €-1 md en 2019 (vs un RN de €279m un an avant) Credito Emiliano (Conserver): RN de €201m (+7,8%) en 2019 Axa (Achat) : En discussion pour céder ses activités en Europe centrale et orientale à Uniqa Insurance (Achat) Airbus (Conserver) est en pourparlers pour racheter à Bombardier (Achat) sa part dans la co-entreprise A220 Abbvie : Résultat opérationnel de $13mds (+103%) en 2019 Pemex (Vente) : Besoin de $10,7 mds de financement en 2020 ...

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 04/12/2019 - Ageas - FR

Ageas (Achat) : Nouvelle émission d’un titre RT1 Bawag (Achat) : Cerberus cède 8% du capital Chubb : Emission de deux obligations en euros Repsol (Achat) : Dépréciation de €4,8 mds, mais améliore son positionnement ESG Exor (Achat) : Acquisition de 43,78% dans GEDI pour €102,5m Orange (Achat hybrides) : Cède 1 500 sites non-stratégiques en Espagne à Cellnex (Achat) Glencore (Conserver) : Revoit à la baisse ses perspectives pour l’exercice 2019 Atlantia (Conserver) : Moody’s abaisse sa note d’un cran à Ba1, la perspective est néga...

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 04/12/2019 - Ageas - EN

Ageas (O/P): New RT1 (restricted tier one) issue Chubb: Issued Two Bonds In Euros (5Y and 10Y) Repsol (O/P): Impairment Charge Of €4.8bn, But Improves Its ESG Positioning Exor (O/P): Acquisition of 43.78% In GEDI For €102.5m High Yield: We Initiate An Outperform Recommendation (+) On International Design Group Orange (O/P On Hybrid Bonds): Sale of 1.500 Non-Strategic Towers To Cellnex (O/P) Glencore (M/P): Revises Its Outlook For 2019 Atlantia (M/P): Moody's Lowers Its Rating One Notch To Ba1, The Outlook Is Negative Ita...

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 22/11/2019 - Exor- EN

TP ICAP - Europe - Morning CreditUpdate 22/11/2019 - Exor- EN

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 22/11/2019 - Exor - FR

Exor (Achat) : Prévoit de maintenir un levier (LTV) prudent de moins 20% Eramet (Conserver) : Rachat partiel de €226m d’obligations 2020 Sanofi : Considère plusieurs options concernant son activité de médicaments sans ordonnance SoftBank (Conserver) : En pourparlers pour obtenir un financement jusqu’à JPY300 mds (~$2,8 mds) Fiat Chrysler Automobiles (Achat) : Rappel d’environ 700.000 véhicules SUV dans le monde Volkswagen (Achat), BMW (Conserver) et Daimler (Conserver) : Condamnés à €100m d'amendes Aryzta (Vente) - S1-19/20 : Ventes de €844...

Proxy Report - EGM - 6th of September 2016

​The EGM is called to approve the merger by incorporation of Exor SpA into its wholly-ownedDutch subsidiary Exor Holding NV. Through the transaction, Exor will change itscountry of incorporation from Italy to the Netherlands. The transaction is aimed atsimplifying the Group's structure, as 85% of Exor's investments are, or are indirectlyowned through, Dutch companies (i.e., Fiat Chrysler Automobiles, Ferrrari, CNHIndustrial and the global insurer PartnerRe Ltd, which is 100% held through Exor NV).Similarly to its listed subsidiaries, Exor will adopt a multiple-voting structure, granting 5votes...

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