Morning Crédit 23/05/2025

Carrefour et Ahold Delhaize aurait envisagé un rapprochement, sans succès|Grifols : Moody’s relève le rating corporate de B3/positive à B2/positive|

Credit Morning 05/23/2025

Carrefour and Ahold Delhaize reportedly considered a merger, without success|Grifols: Moody’s raises the corporate rating from B3/positive to B2/positive|

Coffee, Croissants & Credit/BT, Telefonica, AT&T

Telecom - BT reports soft FY25 results. Telefonica sells Uruguay operations. AT&T acquires consumer fibre business of Lumen

IBERIAN DAILY 22 MAY (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: RENEWABLES SECTOR, TELEFÓNICA. Market not ready to fall There were slight drops on European stock markets in view of the tension to be generated by the fiscal plan being negotiated by the Trump administration. In a divided STOXX 600, the winning sectors of the day were Telecoms and Technology, whereas Consumer Goods and Retail suffered the biggest losses. On the macro side, in the UK April’s inflation rose unexpectedly to 3.5% YoY (15-month high), as did the core figure, which ros...

INFORME DIARIO 22 MAYO (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: SECTOR RENOVABLES, TELEFÓNICA. El mercado se resiste a bajar Tímidas caídas en las bolsas europeas, ante las tensiones que generará el plan fiscal que está negociando la administración Trump. En un STOXX 600 dividido, los sectores ganadores del día fueron Telecomunicacion y Tecnología, mientras que B. Consumo y Retail sufrieron las mayores correcciones. Por el lado macro, en R. Unido la inflación de abril sorprendió al alza repuntando hasta 3,5% int...

International Consolidated Airlines Group SA: 1 director

A director at International Consolidated Airlines Group SA sold 500,000 shares at 319p and the significance rating of the trade was 100/100. 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 ...

Credit Morning 05/15/2025

Maxeda: solid Q4 results and Q1 expected to be strong. Further bond buybacks.|Ubisoft: sharp decline in 2024/25 earnings, no rebound expected in 2025/26|Forvia is considering selling its spare parts division|Techem Q2 25 results: Good earnings print; ownership change and mandatory call remain open|

Morning Crédit 15/05/2025

Maxeda : de bons résultats T4 et un T1 qui devrait l’être tout autant. Poursuite des rachats de dettes.|Ubisoft : résultats 2024/25 en forte baisse, pas de rebond attendu en 2025/26|Forvia envisagerait la cession de sa division de pièces détachées|Techem Q2 25 results: Good earnings print; ownership change and mandatory call remain open|

Coffee, Croissants & Credit/CEZ, Engie, National Grid, Unibail, Icade,...

Utilities - CEZ: Good 1Q25 but lower FY25 guidance. Engie: 1Q25 results and guidance flat; we remain neutral. National Grid: Yearly results show strong growth

Moody's Ratings affirms IAG's Baa3 ratings; changes outlook to positiv...

Moody's Ratings (Moody's) has today affirmed the Baa3 senior unsecured ratings and long-term issuer rating of International Consolidated Airlines Group, S.A. (IAG or the company) and changed the outlook to positive from stable. "The outlook change to positive on IAG reflects our view that the grou...

Telefonica (Neutral, €5.0, +14%) Q1 25 - The three things that stand ...

Telefonica is still in a state of flux ahead of the outcome of its strategic review, but we are positively encouraged by the refined FCF guidance and the better-than-expected trends seen in the German mobile market.

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 14/05/2025

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 05/14/2025

Credit Morning 05/14/2025

URW (Investor Day): Focus on growth and shareholder value|Atos unveils ambitious 2028 targets that will be presented during an Investor Day|

TELEFÓNICA: 1Q’25 RESULTS (ANÁLISIS BANCO SABADELL)

1Q'25 vs. 1Q'24 Results Sales: € 9.221 Bn (-2.9% vs. -4.8% BS(e) and -4.2% consensus); EBITDA: € 3.014 Bn (-4.2% vs. -4.2% BS(e) and -4.2% consensus); EBIT: € 1.109 Bn (-1.7% vs. -19.0% BS(e) and -18.9% consensus); Net Profit: € -1.304.0 M (€ 533.0 M in 1Q'24 vs. € -1.349.0 M BS(e) and € -1.319.0 M consensus);

Morning Crédit 14/05/2025

URW (journée investisseurs) : place à la croissance et à la rémunération des actionnaires|Atos dévoile des objectifs 2028 ambitieux dans le cadre de son Investor Day|

MERLIN PROPERTIES: 1Q’25 RESULTS (ANÁLISIS BANCO SABADELL)

1Q'25 vs. 1Q'24 Results Gross Rental Revenues: € 132.5 M (+7% vs. +8% BS(e)); EBITDA: € 101.1 M (+11% vs. +5% BS(e)); FFO/sh.: € 0.15 (-2.6%).

Telefonica : Q1 2025: better in Spain, still mixed in South America

Telefonica : Q1 2025: better in Spain, still mixed in South America

Merlin Properties : T1 2025 – Bonne performance opérationnelle et accé...