Ahold Delhaize: Safe-haven status confirmed
A closer look at "clean LfL" has highlighted an improving trend across the board. This is set to continue through H2, in our view, thanks to recovering volume/mix in Europe and additional price investments in the US made possible by stronger profitability metrics in Q2. Having lifted our EPS slight
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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