Euronext : 2023 and 2024 net profits higher on clear synergy prospects and higher net financing income
>Reducing 2023 underlying OPEX by 2.5%, cons. needs to come down as well - We reduce our 2023 underlying expenses by 2.5% to € 610m. This is still slightly below the new company guidance of c.€ 618m (calculated as old guidance of € 630 knocked off by € 12m in positive FX effects), however we know that ENX likes to guide conservatively. Our implied Q4 2023 underlying cost is € 157.7m, which is up 7.6% QoQ. This is however somewhat in-line with management expectations, ...Euronext is a cross-border exchange. Co. operates combined regulated markets across Belgium, France, the Netherlands, Portugal and the United Kingdom (derivatives only). Co. offers a range of integrated services including the listing of financial instruments, trading in securities and derivatives, clearing, netting and settlement, market data dissemination and IT solutions and support. Co.'s customers include listed companies, members, institutional and individual investors who trade on Co. markets, other organizations, notably exchanges that use its technologies and services, and users of the financial and information generated by market activity.
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.
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