ING Financial Markets

In FICC (Fixed Income, commodities and Currencies) Research, we offer niche EM expertise, especially in EMEA. We are the go-to bank for Benelux issues, from regulations to rates to a Benelux credit focus. We have developed top notch covered bonds research, and have niche offerings in money markets, rate derivatives and European high yield. We overlay this with a global offering in macro, FX, commodities research and technical analysis. Europe is a key focus for us, but our global sphere extends to the Americas and Asia, in areas where we have selected DM & EM edges. Our analysts provide both written output and conference calls, but also travel the world to provide face-to-face presentations.

ING’s Equity Research team provides in-depth research on over 120 companies in the BeNeLux region, offering both breadth and depth of stock coverage. In addition to investment recommendations, our analysts offer thematic research, proprietary data points. insights into industry trends and unique valuation perspectives. ING’s Equity Research team was ranked the #1 Country Research team in the BeNeLux region in 2017 by the Extel Survey. Next to this, ING is the only bank to have been involved in all the BeNeLux IPOs in 2017. ING has the largest equities team focussed on Benelux listed securities and is the only Benelux broker with sales and research operations in both Amsterdam and Brussels and a sales hub in New York.

Roelof-Jan van den Akker
  • Roelof-Jan van den Akker

Technical Analysis/Koninklijke Heijmans

Testing the 2007 top around €63.00: This stock has been one of the strongest performers on Euronext in recent years, as evidenced by the steep upward trend line that emerged after prices broke above the horizontal resistance near €12.25 in February 2024, completing a bottoming pattern. The bullish momentum continued with a breakout above the previous high from 2011, around €16.28, in May of that year.

Jan Frederik Slijkerman
  • Jan Frederik Slijkerman

3Q25 results: Telenet, VodafoneZiggo, Virgin Media O2/Better than fear...

VodafoneZiggo, Telenet and Virgin Media O2 presented mixed results over 3Q25. Fortunately, KPIs are improving somewhat. Given the competitive end markets, our conviction to buy or sell the notes of any of the three companies remains low. Leverage remained stable QoQ. Nevertheless, we still see upside to the VMED and ZIGGO notes if either Vodafone or Telefonica were to acquire full ownership of their joint ventures or if the businesses where to IPO.

Frantisek Taborsky ... (+5)
  • Frantisek Taborsky
  • James Knightley
  • James Smith
  • Muhammet Mercan
  • Peter Virovacz

THINK Ahead: Play your inflation cards right!

Higher? Lower? It's game show time! Where's inflation heading? Will 2026 be your year, and how will central banks play their cards? Fingers on buzzers, teams, as we look ahead to a big week in financial markets

Paolo Pizzoli
  • Paolo Pizzoli

A surprise big drop in Italian inflation

Italy's October inflation numbers show a marked deceleration. This is very much an energy and fresh food story, against stable core inflation. As we don't expect an imminent change to the pattern, we're trimming our forecast for average 2025 headline inflation to 1.6%

Francesco Pesole
  • Francesco Pesole

Riksbank preview: Strong growth to keep easing out of the picture

The Riksbank and the ECB are both in a 'good place'. However, the risks that rates will be lowered again in Sweden are even lower than in the eurozone, as the growth outlook continues to improve and the Riksbank already took rates below 2% in September. We don't expect any new guidance at this meeting, and the krona's outlook remains good into 2026

Hamza Khan ... (+2)
  • Hamza Khan
  • Warren Patterson

The Commodities Feed

Energy • Crude oil speculative position: Speculators continued to increase their net long in ICE Brent over the last reporting week. According to exchange data, speculators increased their position by 4,175 lots to leave them with a record net long of 565,459 lots. Meanwhile for NYMEX WTI speculators reduced their net long by 15,591 lots to leave them with a net long of 396,381 lots. • US oil rig count: Latest data from Baker Hughes shows that over the last week the number of active rigs decreas...

Gustavo Rangel
  • Gustavo Rangel

LATAM: Political risk calls for caution

Presidential elections are scheduled in Mexico, Brazil and Colombia this year. We take a look at what the rise in political uncertainty means for economic policy and currency trading in the region

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