WOOD Daily: RBW PW; EBS AV; JMT PL; EUROB GA; ETE GA; OPTIMA GA; TITC GA; YKBNK TI; ARABIAND AB; ELM AB; KTY PW; LAMDA GA; DNP PW; PKN PW; HUG PW; TEN PW; PPC GA; PZU PW; DIA PW

HEADLINES: • Rainbow Tours: on the road to riches (BUY - initiation of coverage) • Erste Bank: 2Q25 results beat on positive one-off; solid performance in core result leads to 2025E guidance uplift POSITIVE • Jeronimo Martins: minor beat in 2Q25; FY25E guidance maintained POSITIVE • Eurobank Ergasias Services: 2Q25 highlights – a clean 14% beat vs. our estimate POSITIVE • National Bank of Greece: 2Q25 highlights – in line, with guidance upgrade POSITIVE • Optima Bank SA: bottom-line beat in 2Q25, but due mainly to lower taxes NEUTRAL • Titan: financial results review and conference call takeaw...

European Oil and Gas Monthly: June 2025 – bullish cues from Hormuz

Brent crude oil prices rose USD 5.8/bbl vs. the previous month, on the fear of a disruption in the Strait of Hormuz. Despite rising crude prices, a strong diesel crack means that the WOOD benchmark also improved, to USD 13.0/bbl, the highest level since March 2024. Petrochemicals margins were lower, but not affected by the high oil prices, as may have been expected.

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 07/03/2025

CD Projekt Cyberpunk2077’s release delayed till 17 September 2020

CD Projekt announced yesterday that delays the release of Cyberpunk 2077 game to 17 September 2020 from initially announced during 2019’s E3 16 April 2020.

Agriculture Ukraine Agriculture Sector Monthly

Ukraine agriculture updateLand market. According to Interfax.com.ua Ukrainian Parliament will resume proceeding on land market reform (2178-10 draft) on 18 February 2020, as still has to proceed on submitted amendments (in total over 4k amendments to few pages long draft were submitted). Current version of the draft includes changes proposed in December, namely limit on land concentration at 10k hectares and ban on land ownership for foreigners and foreign controlled entities unless it is changed in nationwide referendum.

Polish Video Game Developers 4Q19E result previews

Overall we expect strong 4Q19E results in CD Projekt, while rather solid performance in PlayWay, Ten Square Games and 11 bit studios. We think especially CD Projekt’s 4Q19E results may stand out and bring positive surprise, as we suspect the consensus currently underestimates potential 4Q19E W3 sales (driven by Netflix’s TV series and launch on Nintendo Switch).