ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/16/2024

We are initiating coverage of the mining equipment segment with Metso on Outperform, Sandvik on Neutral and Epiroc on Underperform. We have adopted a cautious scenario with demand stable or slightly up in the short term (mining business sales up +3% on average between 2024 and 2026), pending positive signals indicating a rebound in greenfield investments (not before 2027, in our view). In this scenario, we think that Metso should confirm the progress achieved in 2023 (margin improveme...

Shenzhen KTC Technology Co. Ltd.: 1 director

A director at Shenzhen KTC Technology Co. Ltd. bought 38,800 shares at 28.350CNY and the significance rating of the trade was 56/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the las...

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 16/04/2024

Nous initions le segment des équipementiers miniers avec Metso à Surperformance, Sandvik à Neutre et Epiroc à Sous-performance. Nous adoptons un scénario prudent avec une demande stable ou en légère hausse à court terme (CA des activités minières en hausse moyenne de 3% entre 2024 et 2026), dans l’attente de signaux positifs indiquant un rebond des investissements greenfield (pas avant 2027 selon nous). Dans ce scénario, nous estimons que Metso devrait confirmer les progrès réalisés e...

Campari : Preview T1 24e : de nouveaux ajustements à la baisse

>Sous-performance maintenue et OC abaissé à 8.6 € vs 9.6 € auparavant - Nous maintenons notre opinion à Sous-performance sur Campari. L’ajustement baissier continue sur les BPA expliquant la performance du titre sur ces derniers mois. En cause d’abord, la hausse des frais financiers du fait de l’acquisition de Courvoisier dont l’intégration constitue un facteur d’incertitudes à court terme. Ensuite, le MOP sous pression en FY 24e alors que celle-ci est toujours en deç...

Campari : Q1 24 preview: fresh downward adjustments

>Underperform rating maintained and target price cut to € 8.6 from € 9.6 - We maintain our Underperform rating on Campari. The ongoing EPS downgrades account for the stock’s performance in recent months. The main culprit is higher interest expense with the acquisition of Courvoisier, its integration being a source of uncertainty in the short term. Also, operating margins will be under pressure in FY 24e, bearing in mind the latter is still short of its pre-Covid level...

Pryme N.V.: 2 directors

Two Directors at Pryme N.V. subscribed to/sold 2,112,156 shares at 0.947EUR. The significance rating of the trade was 69/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two ye...

Silver X Mining Corp: 2 directors

Two Directors at Silver X Mining Corp sold/subscribed to 20,183,383 shares at 0.180CAD. The significance rating of the trade was 78/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the ...

Paref: 1 director

A director at Paref bought 5,000 shares at 41.191EUR and the significance rating of the trade was 64/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing ...

Morning Crédit 16/04/2024

Kering : S&P a dégradé le rating d’un cran à A-/stable Lufthansa : profit warning lancé en raison de l’impact des grèvesVallourec : nouvelle émission en USD pour refinancer son obligation en EUR à échéance 2026>...

Heads-up for report 23 April

Starpharma Holdings Limited: 2 directors

A director at Starpharma Holdings Limited maiden bought 71,428 shares at 0.140AUD and the significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the la...

ODDO BHF Small & MIDCAP MORNING NEWS - 04/16/2024

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Ericsson 1Q24: Revenues stabilizing, margins improving: are we approac...

Ericsson reported 1Q24 this morning.

Morning Bulletin - 16 April 2024

SOFIX (810.58, +0.09%), BGBX40 (165.23, +0.08%) and BGTR30 (816.78, +0.05%) closed green on Monday while BGREIT (191.61) remained unchanged despite the notable daily turnover of BGN 2.26m. The daily gainer within SOFIX area, Sopharma (SFA, BGN 6.14, +1.32%), jumped without significant volume while Chimimport (CHIM, BGN 0.68, -2.86%) and Doverie United Holding (DUH, BGN 8.48, -2.30%) suffered from a huge selling pressure.

US fossil fuel export in February: 11% up m-o-m, 12% y-o-y

Total fossil export of 10.2m bpd (ATH) in February was 11% higher m-o-m, and 12% higher y-o-y. Crude export at 4.66m bpd, up 17% y-o-y, 15.9% higher YTD. LNG export at 7.71m tonne (2.22m boe/day), up 12% y-o-y, 11.1% higher YTD. LPG export at 2.14m bpd, up 6% y-o-y, 2.5% higher YTD. Coal export at

Benelux Morning Notes

ASM International: 1Q24 Preview - focus on order intake. Barco: Preview 1Q24 - a slow start to the year. B&S Group: Solid year-end performance and healthy outlook. Fastned: 1Q24 trading update – disappointing charging volume. Staffing: Hays' 3Q23/24 trading update - warning on 3Q23/24, weaker trends