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EUROSTOXX 50: RESULTADOS A DESTACAR SEMANA 27 A 31 ENERO 2020 (ANÁLISIS BANCO SABADELL)

Resultados Euro Stoxx 50 4T’19 destacados la próxima semana.
De los valores del EuroStoxx50 que publican Rdos. 4T’19 la semana que viene esperamos impacto positivo en: (i) Philips dado que deberíamos ver una recuperación de los márgenes en 4T (demostrando que los ahorros de costes pueden continuar) y (ii) Santander donde creemos que el consenso parece ser conservador en BDI Operativo y que podría alcanzar su objetivo de CET1 FL del 11,25% BS(e). Por el lado negativo destacamos LVMH, que afronta esta publicación prácticamente en máximos históricos y donde el nivel de exigencia es muy elevado (a la vez que el potencial de sorpresas positivas es limitado).
Underlyings
Banco Santander S.A.

Banco Santander is a holding company, providing a range of financial products. Co.'s products and services include: retail banking business that covers all customer banking businesses; wholesale banking business; as well as asset management and insurance business. Co.'s principal operations are in Spain, the U.K., Portugal, Germany, Italy and Latin America. As of Dec 31 2014, Co.'s total assets amounted to Euro1,266,296,000,000 and total customer deposits amounted to Euro647,627,000,000.

Koninklijke Philips N.V.

Koninklijke Philips Electronics is active in the markets of healthcare, consumer lifestyle and lighting. Co.'s activities can be divided into three segments: Healthcare (Co. provides Imaging Systems, Patient Care and Clinical Informatics, Home Healthcare Solutions and Customer Services), Consumer Lifestyle (Co.'s products are divided into the following: Health and Wellness; Domestic Appliances; and Lifestyle Entertainment), Lighting (Co. provides lighting solutions for homes, shops, offices, schools, hotels, factories and hospitals; Co. also offers solutions for roads (street lighting and car lights) and for public spaces, residential areas and sports arenas).

LVMH Moet Hennessy Louis Vuitton SE

LVMH Moet Hennessy Louis Vuitton is a manufacturer and retailer of luxury goods. Co. offers champagne and wines, cognac and spirits, fashion and leather goods, perfumes and cosmetics, watches and jewelery; and is engaged in selective retailing. Its operations are organized along five business segments: Wine and Spirits, Fashion and Leather Goods, Perfumes and Cosmetics, Watches and Jewelery, and Selective Retailing. Co. is also engaged in other activities (Media with Les Echos group, La Samaritaine and Luxury yacht with Royal Van Lent). Some of Co.'s brands are Moet & Chandon, Dom Perignon, Louis Vuitton, Fendi, Donna Karan, Parfums Christian Dior, Guerlain, Parfums Givenchy, and TAG Heuer.

Provider
Sabadell
Sabadell

Analysts
Research Department

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