Volkswagen (pref) : Still the best placed in this environment
>Earnings in line with the consensus but shy of expectations  - VW reported interim results broadly in line with the consensus, admittedly, but expectations had recently risen following peers’ interim publications even though the quality of earnings may have also disappointed (VW/Audi below expectations, high level of “Other†items) apart from on very solid adjusted FCF of just -€ 0.8bn. Even so, the group’s message contained little in the way of surprises and the ou...Volkswagen the parent company of the Volkswagen Group. It develops vehicles and components for the Group's brands, and produces and sells vehicles such as passenger cars and light commercial vehicles for the Volkswagen Passenger Cars and Volkswagen Commercial Vehicles brands. In the electricity sector, Co. performs electricity generation, sales and distribution together with a Group subsidiary. Western Europe, China, Brazil, the U.S., Russia, Mexico and Argentina are the key markets of the Group. The automotive division comprises the passenger cars, commercial vehicles, and power engineering segments, while the financial services division corresponds to the financial services segment.
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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