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Ahead of H1 2025 earnings on 6th August, we have marginally lifted our Q2 2025E sales and EBIT forecasts by c.1%. Despite a solid underlying Q2 setup, we have trimmed our FY25-27 EPS by 2% to reflect the June USD devaluation and expect EPS FY guidance to be cut in line with css and SFe forecasts fo
In this Consumer Weekly newsletter, we provide a brief overview of the key factors affecting our Consumer coverage, from Luxury & Consumer goods to Retail & E-commerce and Food & Ingredients. This week, we look at how tariffs have dominated recent earnings calls over other topics such a
Ahold Delhaize is said to have approached Carrefour in late 2024 before walking away in January 2025. The failed discussions are positive for us as a deal would have totally transformed Ahold Delhaize's equity story from "defensive/yield" to a tentative and very risky "growth/recovery" with a likel
NEWS SUMMARY: AENA, CELLNEX, INDRA. At the end of today’s report, and during the entire results season, we will include a presentation with positive and negative results highlights and previews for the 2Q’25 results to be released over the coming days in Spain. Quality cyclicals leading the rally European stock markets rallied, driven by gains in companies linked to data centre development, in view of the strong demand in the US. Thus, in the STOXX 600, cyclicals like Industrials and Technology led the gains, whereas Media and Consumer Goods suffered the biggest losses. On the macro side, in...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: AENA, CELLNEX, INDRA. Incluido en el informe diario de hoy, y durante toda la campaña de resultados, incorporamos al final una presentación con los resultados destacados en positivo y negativo y previews de Rdos. 2T’25 que se publicarán en España y Europa en los próximos días. Los cíclicos de calidad a la cabeza del rebote Subidas en las bolsas europeas, impulsadas por ganancias de las compañías vinculadas al desarrollo de centros de datos, ante la buena demanda de EE. UU. Así, en el STOXX 600 dirigieron las subidas sectores cíclicos, como Indust...
En lo que llevamos de año el Euro STOXX 50 acumula una subida de +9,1% frente al +6,5% del S&P 500.
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