reports
- Research Team
WOOD Daily: CCC PW (stays BUY); TXT PW; DOM PW; MIL PW; Poland macro; ...
HEADLINES: • CCC: Shaq attaq (stays BUY) • Text: 2Q24-25 (calendar 3Q24) preliminary results - MRR of USD 7.04m (-0.4% qoq, +8.8% yoy) NEGATIVE • Dom Development: strong sales performance in 3Q24 POSITIVE • Bank Millennium: to set aside PLN 470m of FX mortgage provisions in 3Q24E, cost of credit holidays lower NEUTRAL • Poland macro: NBP extends the pause • GEVORKYAN: EUR 31m long-term contract in the defence industry xx POSITIVE • Cimsa: completes the acquisition of Mannok DAC POSITIVE • Dino P...
- Research Team
The Rear-View Mirror – EME markets: Greece rebounds, elsewhere mostly ...
EME Equity Market - September 2024 EME indices mostly in the red in September; rebound in Greece. The MSCI EM Europe Index declined 2.0% in EUR terms and 1.1% in USD terms in September. The Greek ASE Index was the best performer in our region, advancing 1.4% mom in EUR terms. Muted performances were seen in Czechia and Hungary (+0.3% and +0.2% mom, respectively in EUR terms), with declines in Poland, Romania and Turkey (-3.6%, -2.9% and -1.5% mom, respectively in EUR terms).
PEO BANK POLSKA KASA OPIEKI SA
OPAP GREEK ORGANISATION OF FOOTBALL PROGNOSTICS SA
KRU KRUK S.A.
MOL MOL NYRT
CEZ CEZ AS
CDR CD PROJEKT S.A.
RBI RAIFFEISEN BANK INTERNATIONAL AG
BIMAS BIM BIRLESIK MAGAZALAR A.S.
WIZZ WIZZ AIR HOLDINGS PLC
PZU POWSZECHNY ZAKLAD UBEZPIECZEN SPOLKA AKCYJNA
SPL SANTANDER BANK POLSKA SA
BSK ING BANK SLASKI S.A.
LAMDA LAMDA DEVELOPMENT S.A.
GEKTERNA GEK TERNA
KTY GRUPA KETY SA
PKN POLSKI KONCERN NAFTOWY ORLEN S.A.
SAR GR. SARANTIS S.A.
LPP LPP S.A.
ASELS ASELSAN ELEKTRONIK SANAYI VE TICARET A.S. CLASS B
CIMSA CIMENTO SANYAI VE TICARET A.S.
LOGO LOGO YAZILIM SANAYI VE TICARET A.S.
CCC CCC SA
CCOLA COCA-COLA ICECEK A.S.
AEGN AEGEAN AIRLINES SA
PGSUS.E PEGASUS HAVA TASIMACILIGI AS
APR AUTO PARTNER SA
PPC PUBLIC POWER CORPORATION S.A.
CAR INTER CARS S.A.
ARCLK ARCELIK A.S.
ECH ECHO INVESTMENT
CPS CYFROWY POLSAT SA
MBR MO-BRUK S.A.
11B 11 BIT STUDIOS S.A.
OTOEL AUTOHELLAS S.A.
VGO VIGO SYSTEM SA
WPL WIRTUALNA POLSKA HOLDING SA
BELA JUMBO S.A.
H4L1 HALYK SAVINGS BANK OF KAZAKHSTAN GDR
DIGI DIGI COMMUNICATIONS NV
NBGGY NATIONAL BANK OF GREECE S.A. ADS
RICHT RICHTER
19XX NEPI ROCKCASTLE PLC
R22 R22
ADNOCDIST ADNOC DISTRIBUTION PJSC
EAT AMREST HOLDINGS SE
TEN TEN SQUARE GAMES
ALG ALLEGRO.EU SA
CZG CESKA ZBROJOVKA GROUP
DUNAHOUSE DUNA HOUSE
KSPI KASPI KZ
INPST INPOST S.A.
PCF PCF GROUP SA
HUGE HUUUGE
PCO PEPCO GROUP NV
CTPNV KAZMUNAYGAS NC JSC
VRC CTP NV
KLKIM VERCOM SA
SHO KALEKIM KIMYEVI MADDELER SANAYI VE TICARET AS
4071 SHOPER SA
TRESTATES ARABIAN CONTRACTING SERVICES CO
GEV TRADE ESTATES REIC SA
NOVAL GEVORKYAN A.S.
BOCHGR NOVAL PROPERTY
BANK OF CYPRUS
- Research Team
WOOD Daily: MCOVB SS (BUY – initiation of coverage); HTO GA (upgrade t...
HEADLINES: • Medicover: private healthcare pioneer keeps on rolling (BUY - initiation of coverage) • OTE: safe dividend play (upgraded to BUY) • National Bank of Greece: HFSF launches the sale of a 10% stake in NBG NEUTRAL • PCF Group: 2Q24 results in negative territory, below our expectations NEGATIVE • mBank: issues traditional profit warning related to the CHF mortgage saga, ahead of 3Q24E results NEUTRAL • InPost: 4.9% price hike for Allegro NEUTRAL • Allegro: introduction of spirits from 21...
- Egor Fedorov
- James Wilson
EM Credit Spark/EM credit weekly
EM issuance continued at a healthy pace this week, while the macro backdrop continues to point to further monetary easing in developed markets. We expect a slowing in the pace of supply to act as a technical tailwind, keeping spreads well anchored into the end of the year.
EQS-News: IMMOFINANZ increases shareholding in S IMMO to 89%
EQS-News: IMMOFINANZ AG / Key word(s): Investment/Miscellaneous IMMOFINANZ increases shareholding in S IMMO to 89% 25.09.2024 / 20:06 CET/CEST The issuer is solely responsible for the content of this announcement. Press release | Corporate News Vienna, 25 September 2024 IMMOFINANZ increases shareholding in S IMMO to 89% IMMOFINANZ Group is acquiring a further 28,241,094 shares in S IMMO AG ("S IMMO") from its core shareholder CPI Property Group ("CPIPG"), thus increasing its stake in S IMMO to around 89%. The purchase price amounts to EUR 608.5 million or EUR...
EQS-News: IMMOFINANZ erhöht ihren Anteil an der S IMMO auf 89%
EQS-News: IMMOFINANZ AG / Schlagwort(e): Beteiligung/Unternehmensbeteiligung/Sonstiges IMMOFINANZ erhöht ihren Anteil an der S IMMO auf 89% 25.09.2024 / 20:06 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. Presseinformation | Corporate News Wien, 25. September 2024 IMMOFINANZ erhöht ihren Anteil an der S IMMO auf 89% Die IMMOFINANZ Gruppe erwirbt von ihrer Kernaktionärin CPI Property Group („CPIPG“) weitere 28.241.094 Aktien der S IMMO AG („S IMMO“) und erhöht damit ihren Anteil an der S IMMO auf rund 89%. Der Kaufpreis ...
- Marine Leleux
- Maureen Schuller
- Suvi Platerink Kosonen
Bank Brunch/Commerzbank state of play, mBank green senior pref, Credit...
Commerzbank spreads head wider as tensions mount between UniCredit and German government. mBank takes a different route with a new green preferred senior. Crédit Agricole comes with a new US$ AT1 to keep layers efficient. La Banque Postale makes its annual recurrence in senior non-pref. The ECB published its banking statistics for 2Q24
- Marine Leleux
- Maureen Schuller
- Suvi Platerink Kosonen
Bank Brunch/Commerzbank state of play, mBank green senior pref, Credit...
Commerzbank spreads head wider as tensions mount between UniCredit and German government. mBank takes a different route with a new green preferred senior. Crédit Agricole comes with a new US$ AT1 to keep layers efficient. La Banque Postale makes its annual recurrence in senior non-pref. The ECB published its banking statistics for 2Q24.
MBank S.A.: 1 director
A director at MBank S.A. sold 451 shares at 666.245PLN and the significance rating of the trade was 55/100. 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 showin...
- Maureen Schuller
- Suvi Platerink Kosonen
- Maureen Schuller
- Suvi Platerink Kosonen
- Research Team
WOOD Daily: ALARABIA AB; NOVAL GA; MOH GA; CAR PW; LAMDA GA; MBK PW; C...
HEADLINES: • Al Arabia Outdoor Advertising: waiting for better times (downgraded to HOLD) • Noval Property: 1H24 – recurring results in line with our estimates NEUTRAL • Motor Oil Hellas: fire at refinery NEGATIVE • Inter Cars: key takeaways from the 2Q24 earnings call NEUTRAL • Lamda Development: another land plot sales tranche, to lift NAV by 6% POSITIVE • mBank: UniCredit seeks regulator's approval to reach 30% stake in Commerzbank • CTP: raises EUR 300m through an ABB, at EUR 16.0/share • 11...
- Research Team
WOOD Daily: WPL PW; ASELS TI; CAR PW; CAR PW; PCF PW; SPL PW; KAP LI
HEADLINES: • Wirtualna Polska: WP boosts media margins (stays BUY) • Aselsan: 2Q24 IAS 29 results – strong execution POSITIVE • Inter Cars: 2Q24 EBITDA 10% above our forecast and 5% above the consensus, on higher margin POSITIVE • Inter Cars: August sales growth at 8% yoy, in line with our expectations NEUTRAL • PCF Group: new work-for-hire agreement with Krafton; PLN 7m write-off on Project Red POSITIVE • Santander Bank Polska: strategic investor wants to reduce its stake • Kazatomprom: obtains...
- Egor Fedorov
- Maureen Schuller
CEE bank bonds/Outperforming with a good case for more
The lower supply pressure and turning interest rate cycle have helped CEE bank bonds outperform this year, particularly in the unsecured segment. The relative value metrics of CEE bank bonds remain enticing though versus European comparables, from a bank fundamental and instrument rating angle. We expect to see a further outperformance of CEE names.
- Egor Fedorov
- Maureen Schuller
CEE bank bonds/Outperforming with a good case for more
The lower supply pressure and turning interest rate cycle have helped CEE bank bonds outperform this year, particularly in the unsecured segment. The relative value metrics of CEE bank bonds remain enticing though versus European comparables, from a bank fundamental and instrument rating angle. We expect to see a further outperformance of CEE names.
- Maureen Schuller
- Suvi Platerink Kosonen
- Maureen Schuller
- Suvi Platerink Kosonen
EQS-News: IMMOFINANZ: Vorstandsmandat von Pavel Měchura verlängert
EQS-News: IMMOFINANZ AG / Schlagwort(e): Immobilien/Personalie IMMOFINANZ: Vorstandsmandat von Pavel Měchura verlängert 03.09.2024 / 18:21 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. Presseinformation | Corporate News Wien, 3. September 2024 IMMOFINANZ: Vorstandsmandat von Pavel Měchura verlängert Die IMMOFINANZ verlängert das Vorstandsmandat von Pavel Měchura bis zum 30. April 2027. Der Aufsichtsrat der IMMOFINANZ hat das Vorstandsmandat von Pavel Měchura mit Wirksamkeit ab 28. August 2024 vorzeitig bis zum 30. April 202...
EQS-News: IMMOFINANZ: Executive Board appointment of Pavel Měchura ext...
EQS-News: IMMOFINANZ AG / Key word(s): Real Estate/Personnel IMMOFINANZ: Executive Board appointment of Pavel Měchura extended 03.09.2024 / 18:21 CET/CEST The issuer is solely responsible for the content of this announcement. Press Release | Corporate News Vienna, 3 September 2024 IMMOFINANZ: Executive Board appointment of Pavel Měchura extended IMMOFINANZ has extended the appointment of Pavel Měchura to the Executive Board until 30 April 2027. The Supervisory Board of IMMOFINANZ has prematurely extended the appointment of Pavel Měchura on the Executive Board to ...
- Research Team
The Rear-View Mirror – EME markets: only Czech PX index in positive te...
EME Equity Market – August 2024 A red month for the EME indices, with only the Czech PX index in positive territory. The MSCI EM Europe index declined by 4.7% in EUR terms and 2.6% in USD terms in August. The Czech PX index was the only index to report a positive figure, adding 0.5% mom in EUR terms. The rest of the indices were in the red: the Turkish ISE30 index was down 11.5% mom in EUR terms, followed by Greece (-3.2% mom), Romania (-2.6% mom) and Hungary (-1.2% mom; all in EUR terms). The P...
EUROB EUROBANK ERGASIAS SERVICES & HOLDINGS SA
PEO BANK POLSKA KASA OPIEKI SA
KRU KRUK S.A.
MOL MOL NYRT
EBS ERSTE GROUP BANK AG
BOCH BANK OF COMMERCE HOLDINGS
CEZ CEZ AS
ACP ASSECO POLAND SA
HTO HELLENIC TELECOMMUNICATIONS ORGANIZATION SA
CDR CD PROJEKT S.A.
OMV OMV AG
PKO PKO BANK POLSKI S.A.
KOMB KOMERCNI BANKA A.S.
BHW BANK HANDLOWY W WARSZAWIE S.A.
WIZZ WIZZ AIR HOLDINGS PLC
PZU POWSZECHNY ZAKLAD UBEZPIECZEN SPOLKA AKCYJNA
BSK ING BANK SLASKI S.A.
BDX BUDIMEX S.A.
MTELEKOM MAGYAR TELEKOM TELECOMMUNICATIONS
CAI CA IMMOBILIEN ANLAGEN AG
PKN POLSKI KONCERN NAFTOWY ORLEN S.A.
AKCNS AKCANSA CIMENTO
BRISA BRISA-BRIDGESTONE SABANCI LASTIK SANAYI VE TICARET A.S.
CIMSA CIMENTO SANYAI VE TICARET A.S.
LOGO LOGO YAZILIM SANAYI VE TICARET A.S.
CCC CCC SA
CCOLA COCA-COLA ICECEK A.S.
GTC GLOBE TRADE CENTRE S.A.
DOM DOM DEVELOPMENT SA
BFT BENEFIT SYSTEMS S.A. ALLOTMENT
MGROS MIGROS TICARET A.S
TKNSA TEKNOSA IC VE DIS TICARET AS
PGSUS.E PEGASUS HAVA TASIMACILIGI AS
LVC LIVECHAT SOFTWARE SA
TBCB TBC BANK JOINT STOCK CO
ALPHA ALPHA BANK AE
PPC PUBLIC POWER CORPORATION S.A.
OTP OTP BANK NYRT
CAR INTER CARS S.A.
FROTO FORD OTOMOTIV SANAYI A.S.
THYAO TURK HAVA YOLLARI A.O.
TUPRS TURKIYE PETROL RAFINERILERI A.S.
EUR EUROCASH S.A.
CPS CYFROWY POLSAT SA
MBR MO-BRUK S.A.
GPW WARSAW STOCK EXCHANGE
11B 11 BIT STUDIOS S.A.
ALR ALIOR BANK SA
OTOEL AUTOHELLAS S.A.
WPL WIRTUALNA POLSKA HOLDING SA
BRD BRD-GROUPE SOCIETE GENERALE
TLV BANCA TRANSILVANIA S.A.
ETEL TELECOM EGYPT
MONET MONETA MONEY BANK AS
SNG SOCIETATEA NATIONALA DE GAZE NATURALE ROMGAZ SA
H4L1 HALYK SAVINGS BANK OF KAZAKHSTAN GDR
PBK PATRIA BANK SA
TOFAS TOFAS TURK OTOMOBIL FABRIKASI A.S.
DIGI DIGI COMMUNICATIONS NV
DNP DINO POLSKA S.A.
NBGGY NATIONAL BANK OF GREECE S.A. ADS
BVB S.C. BURSA DE VALORI BUCURESTI S.A.
GEB BANK OF GEORGIA
RICHT RICHTER
19XX NEPI ROCKCASTLE PLC
M MED LIFE
SFG SPHERA FRANCHISE GROUP SA
ADNOCDIST ADNOC DISTRIBUTION PJSC
NLBR NLB GROUP
ESLT ELBIT SYSTEMS LTD
KAP NATIONAL ATOMIC COMPANY KAZATOMPROM
TEN TEN SQUARE GAMES
DUNAHOUSE DUNA HOUSE
KSPI KASPI KZ
PCF PCF GROUP SA
HUGE HUUUGE
4IG 4IG NYRT
IGN1L IGNITIS GRUPE
CTPNV CTP NV
ONE ONE UNITED PROPERTIES SA
GPP GRUPA PRACUJ DA
BCG BALTIC CLASSIFIEDS GROUP PLC
ADNOCDRILL ADNOC DRILLING CO
2381 ARABIAN DRILLING CO.
7202 ARABIAN INTERNET & COMMUNICATIONS SERVICES CO
9526 JAHEZ INTERNATIONAL CO
ELPE HELLENIQ ENERGY
SHO SHOPER SA
4071 ARABIAN CONTRACTING SERVICES CO
7203 ELM CO
AQ AQUILA PART PROD COM
TRESTATES TRADE ESTATES REIC SA
AIRA AIR ASTANA JSC
NOVAL NOVAL PROPERTY
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