ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/18/2024

As expected, US equities welcomed Donald Trump's victory, while European stock markets reacted negatively, also weighed down two days later by a further disappointment on China's stimulus plan. Our sector strategies and baskets of Trump stocks (long or short) have paid off, with a few exceptions that may provide investment opportunities, like Total Energies or Repsol. In Europe, we are maintaining our Underweight recommendation on the Basic Resources, Chemicals, Luxury Goods and Autom...

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 18/11/2024

Comme prévu, les actions américaines ont salué la victoire de Donald Trump tandis que les bourses européennes accusaient le coup, également lestées deux jours plus tard par une nouvelle déception sur le plan de relance chinois. Nos stratégies sectorielles et paniers de valeurs Trump (long ou short) ont fonctionné, avec quelques exceptions qui peuvent être des opportunités d’investissement, à l’instar de Total Energies ou Repsol. En Europe, nous conservons notre opinion Sous-pondérer s...

Aegon : New SBB, higher OCG, more cash return clarity, sales was less, TP up

>Conclusion: New SBB, higher OCG, more cash return clarity, sales was less - It was positive that Aegon announced a new € 150m SBB which we expected, but not all in the market was expecting this we believe. And related to that it is good Aegon announced now to bring the cash at holding down from about est. € 1.66bn end 2024 to about € 1bn end 2026 giving up to € 0.9bn discretionary cash for e.g. new SBB’s over 2025-2026. The Q3 OCG capital generation was better than e...

Accor : Test first take

AXA : TEST

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VINCI : Trees can reach to the sky

>Ambitious but realistic targets for VINCI Energies - Today, VINCI is to host a CMD in Paris dedicated to its Energies division, during which it will present its targets out to 2030. VINCI Energies notably forecasts: Annual revenue growth in the mid- to high single digits on average between 2024 and 2030 (consensus at low to mid-single digits for the time being). International revenue up to 65% of total revenue in 2030 (vs 58% in 2023) An operating mar...