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As always, during earnings season, we wrap-up what happened in the previous week. For our main takes summarized on a single slide, and a few words on each of the 10 names we followed last week, follow the link below.
While Japan’s automakers have upped their game in the EV space, they remain laggards on the global stage. With the EV markets now in trouble, analyst Julie Boote assesses whether or not the Japanese assemblers have been vindicated in their more cautious approach to electrification.
Rdos. 1T'23 vs 1T'22: EBIT: 5.500 M euros (+5,2% vs -10,3% BS(e) y -6,3% consenso).
NEWS SUMMARY: N/A. Whether inflation will not rise or whether the Fed will be forced to cut rates in September is not so clear anymore The release of July’s industrial production prices, speeding up significantly more than expected, suggests that companies are indeed seeing the inflationary pressure from tariffs but not yet passed on to final prices, which could also have a negative impact on their margins in the 3Q’25. Following the data release, with weekly jobless claims also easing slightly more than expected, the expectations of rate cuts by the Fed in September priced in by the futures...
COMPAÑÍAS QUE APARECEN EN EL INFORME: N/A Igual ya no está tan claro que la inflación no vaya a subir o que la Fed tenga que bajar tipos en septiembre La publicación del Precio de la Producción Industrial de julio en EE.UU., acelerándose sensiblemente más de lo esperado, apunta a que las empresas sí estarían sintiendo ya las presiones inflacionistas de los aranceles, pero que todavía no las han trasladado a los precios finales, lo que además podría incidir negativamente en sus márgenes en 3T’25. Tras la publicación del dato, que además vino acompañado de un paro semanal relajándose algo más d...
NEWS SUMMARY: N/A. Greater expectations of rate cuts fuel stock markets Following the good inflation data released in the US, the Secretary of the Treasury, Scott Bessent, demanded new rate cuts of more than 150bps this year, starting with -50bps in September (R. Bostic, Fed member, stated he would see a -25bps cut appropriate in 2025 and thanks to the strength of the job market the Fed could still wait before cutting rates). Against this backdrop and in the absence of additional references, the US stock exchange beat its record high again, as well as European indices. Thus, in Europe in the ...
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