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Carole Braudeau
  • Carole Braudeau

Morning Crédit 17/12/2025

Nouvelles rumeurs spéculatives sur le capital de Rexel (La Lettre)|S&P relève le rating corporate de Grifols de B+ à BB-/stable|

Research Department
  • Research Department

IBERIAN DAILY 17 DECEMBER (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: GRIFOLS, INDRA. Doubts do not disappear they change Calm prevailed at both sides of the Atlantic with a battery of macroeconomic data that did not convince the market. In the STOXX 600, almost all sectors (16/20) ended with drops, led by Energy and Industrials vs. the larger gains of Consumer Goods, Financial Services and Retail Estate. On the macro side, in the euro zone, November’s PMI fell more than expected (the manufacturing PMI was at its lowest level in 8 months) but the co...

Research Department
  • Research Department

INFORME DIARIO 17 DICIEMBRE (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: GRIFOLS, INDRA Las dudas no desaparecen, se transforman Volvió la cautela a ambos lados del Atlántico con una batería de datos macro que no convenció al mercado. En el STOXX 600, casi todos los sectores (16/20) terminaron con caídas, lideradas por Energía e Industriales frente a las mayores ganancias de B. de Consumo, Servicios Financieros e Inmobiliario. Por el lado macro, en la Eurozona los PMI’s de noviembre cayeron más de lo esperado (manufactur...

Pierre FerraguÊ
  • Pierre FerraguÊ

Bible 3Q25 – Autos: Limited near-term visibility, but our cycle thesis...

Today, we are publishing the Automotive section of our 29th Tech Infrastructure Quarterly Bible. The Tech Bible is a must-read for any tech investor, as it summarizes the quarterly earnings reports from the over 140 companies we track, providing an update on our key perspectives and convictions. We will publish sections on Hyperscale & Cloud, Telecom Equipment, Industrials, PCs, Enterprise IT, and Foundry later this week. Auto demand came in above expectations, with limited signs of an air-pock...

Carole Braudeau
  • Carole Braudeau

Credit Morning 11/25/2025

Bertrand Franchise : 11.5% growth in Q3 2025 EBITDA, offsetting the decline in H1 2025|Zegona : satisfactory results in H1 2026, agreement to sell 40% of Fiberpass to AXA IM|

Carole Braudeau
  • Carole Braudeau

Morning Crédit 25/11/2025

Bertrand Franchise : EBITDA en hausse +11.5% au T3 25, rattrapant la baisse du S1 25|Zegona : résultats satisfaisants au S1 2026, accord pour la cession de 40% de Fiberpass à AXA IM|

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