Michelin : July market data broadly in line with H1 earnings message
>July and YTD figures in line with recently revised market forecast - Overall, July market figures should not surprise as they are in line with the message given by Michelin and peers at the Q2/H1 stage confirming a less strong replacement segment (slightly down in both PLT and Trucks), penalised notably by earlier pre-buys, and an improving OE channel in PLT supported by higher supply. As a reminder, Michelin lowered its volumes outlook end-July and now forecast...
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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