Report
Jean Danjou ...
  • Thomas Zlowodzki

ODDO BHF Small & MIDCAP MORNING NEWS - 01/09/2024 Date Performance since listing Date Performance since listing

Defensives are sharply outperforming cyclicals at the start of 2024. We think investors should start to gear portfolios towards our more cautious strategic allocation for 2024, while also taking account of the likely continuation of volatility on rates. Within defensives, we prefer utilities, telecoms, personal care & grocery stores and insurance. We think that the recent sell-off for technology offers an entry point, particularly in the semiconductors segment. We remain cautious on d...
Underlyings
Alfen NV

Alfen NV (Alfen) is a company based in the Netherlands, engaged in the design, development and production of electric grid equipment. The Company is active in three business lines: Smart Grids, which supplies standardized electricity grid connection systems, secondary transformer substations, local power grids, devices for grid automation, as well as software and back-end systems for remote management and grid control; Energy Storage, responsible for development and installation of modular energy storage systems under the brand TheBattery, which are used by utilities, grid operators, energy traders and industrial companies, among others, and Electric Vehicle (EV) Charging, which supplies EV charge points in a variety of capacities and functionalities for use at home, work and in public areas. In addition, Alfen offers service, management and maintenance activities, including remote support and monitoring, as well as an in-house technological know-how center.

Hermes International SCA

Hermes International is engaged in the manufacture, sale, and distribution of luxury goods primarily in France, rest of Europe, Japan, Asia-Pacific, and Americas. Co.'s activities can be divided into two segments: the distribution via Co.'s exclusive network and the distribution via specialist outlets. The distribution via Co.'s exclusive network comprises silks and textiles, leather goods and saddlery, ready-to-wear and fashion accessories (men and women's clothing, belts, jewellery accessories, gloves, hats and shoes), and other goods (jewellery and products of the art of living department). The distribution via specialist outlets comprise perfumes, tableware and watches.

NX FILTRATION HLDG BV

Royal Vopak NV

Royal Vopak is a holding company. Via its subsidiaries, Co. acts as a tank storage provider for the oil and chemical industry. Co. operates a network of terminals located at locations along trade routes. Co. also provides a range of additional services, from loading and unloading a range of transport modalities to heating, cooling, blending and customs formalities. The customers Co. serves range from global to local clients and include national and global producers, governments, distributors and traders of liquid and gaseous bulk products. Co.'s customers are active in the production, trading and marketing of oil products, chemicals, gases, biofuels, edible oils and liquefied natural gas.

Trigano SA

Trigano designs, manufactures and sells leisure vehicles and leisure equipment. Co.'s operations can be divided into two segments: Leisure vehicles and Leisure equipment. The Leisure Vehicles segment produces motor caravans, caravans, mobile homes and accessories and provides services to its customers (leasing and financing of leisure vehicles). The Leisure Equipment segment produces trailers, camping equipment, and garden equipment. Co. operates in France, U.K., Italy, Germany, Belgium, Spain, Netherlands, Norway and Other countries.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Jean Danjou

Thomas Zlowodzki

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