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.

Maurice van Sante
  • Maurice van Sante

Growth returns to Europe's construction sector

After a year of decline, we think the European construction sector will finally return to growth in 2025, but it's going to be a slow process. House prices are rising once more, and that makes building new houses a more attractive proposition for project developers

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

Technical Analysis/Bund future

The longer-term weekly chart did exactly what was to be expected, selling pressure within the beginning of last week resulting in a new low at 130.28 followed by a solid rise and close above the horizontal support around 130.70 at the end of the week. From its low at 130.28, prices rallied 169bp to a high at 131.97 and the close at 131.78 was 90bp higher. This is confirming the bottom in the weekly chart after a non-stop six week decline and lower closes. We would like to see a rise and close ab...

ING Helpdesk
  • ING Helpdesk

Benelux Morning Notes

IBA: €5m investment in German semi conductor start up with nice end market potential. Zabka: Preliminary FY24 sales release

Jan Frederik Slijkerman ... (+5)
  • Jan Frederik Slijkerman
  • Jeroen van den Broek
  • Jesse Norcross
  • Nadège Tillier
  • Timothy Rahill

Coffee, Croissants & Credit/Orsted, EPH and Uniper

Utilities - Orsted reports another impairment. EPH reported to have been approached to buy Uniper

Chris Turner ... (+3)
  • Chris Turner
  • Francesco Pesole
  • Frantisek Taborsky

FX Daily: Day one volatility

The dollar suffered a positioning squeeze yesterday as Trump fell short of announcing universal tariffs on day one. However, CAD and MXN are facing more downside risks as the new president said he expects to raise 25% tariffs on both countries by 1 February. Expect a lot of headline-related noise this week, with action in the crosses based on tariff threat perception

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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