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EUROSTOXX 50: RESULTADOS A DESTACAR SEMANA 10 A 14 FEBRERO 2020 (ANÁLISIS BANCO SABADELL)

Resultados Euro Stoxx 50 4T’19 destacados la próxima semana.
De los valores que publican Rdos. 4T’19 la semana que viene del EuroStoxx50 esperamos impacto positivo en Kering, donde una evolución positiva de las ventas de Gucci en EE.UU. y una mayor visibilidad sobre la solidez de la demanda por parte del cliente chino (en la medida de lo posible y más allá del impacto temporal que pueda tener), deberían impulsar al valor. También esperamos una positiva acogida en Vivendi ya que, más allá de los Rdos. (donde no vemos sorpresas relevantes) esperamos el anuncio de un nuevo programa de recompra de acciones >1.500 M euros (>5% de su capitalización) y con un precio máximo de al menos 26 euros/acc. (+4% vs cotización actual).
Underlyings
Kering SA

Kering is engaged in the retail industry, particularly luxury fashion brands. Co.'s operations can be divided into two segments: Luxury and Sport & Lifestyle divisions. The Luxury division includes brands such as Gucci, Bottega Veneta, Yves Saint Laurent, Balenciaga, Boucheron, Sergio Rossi, Alexander McQueen, Girard-Perregaux & JeanRichard, & Stella McCartney. In addition, Co. offers Leather Goods, Shoes, Ready-to-wear, Watches, and Jewelry & Other products. The Sport & Lifestyle division designs & develops footwear, apparel & accessories and includes brands like Puma, Volcom and Electric among others.

Vivendi SE

Vivendi is an audiovisual group active in the entertainment industry with activities in music, TV, cinema, mobile, fixed and internet, and games. Co.'s operations are divided into five businesses: Canal+ Group which produces and distributes pay-TV in France, analog or digital, and is involved in film making; Universal Music Group which sells recorded music (physical and digital media); GVT which serves as a telecommunication operator for fixed ultra high-speed broadband, fixed-line telecommunications and Pay-TV in Brazil; SFR which is engaged in mobile phone services in France, as well as fixed and ADSL services; and Other Activities which involves ticketing, Wengo and Watchever.

Provider
Sabadell
Sabadell

Analysts
Research Department

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