>A fresh acceleration to worldwide semiconductor sales in August at +20.6% y-o-y (vs +18.7% in July) - Worldwide semiconductor sales in August 2024 were published by the WSTS (World Semiconductor Trade Statistics) with the usual one-month lag. On a three-month moving average, sales came to $ 53.1bn, ahead of our forecast of $ 52bn. This represents a sequential increase of 3.5% and +20.6% y-o-y, after +18.7% in July. At the regional level, sales from one year to the n...
>Nouvelle accélération de la croissance des ventes mondiales de semis en août à +20.6% yoy (vs +18.7% en juillet) - Les ventes mondiales de semiconducteurs d’août 2024 ont été publiées par WSTS (World Semiconductor Trade Statistics), avec (comme toujours) un mois de décalage. En données lissées (moyenne de 3 mois), elles ressortent à 53.1 Md$ au-dessus de notre prévision à 52 Md$. Il s’agit d’une hausse séquentielle de 3.5% et annuelle de 20.6% après 18.7% en juillet....
Last week we held our fourth ODDO BHF Iberian Forum. The event was fully virtual and took place on October 1 and 2. With 62 Iberian issuers, close to 200 institutional investors and c. 800 meetings, this is one of the largest dedicated Iberian conferences held this year. This note brings together 49 feedback documents, with 5 target price revisions (o/w 3 downward revisions) and a rating downgrade on Pharma Mar. The main subjects of debate were i/ the trend in final demand in the con...
Last week we held our fourth ODDO BHF Iberian Forum. The event was fully virtual and took place on October 1 and 2. With 62 Iberian issuers, close to 200 institutional investors and c. 800 meetings, this is one of the largest dedicated Iberian conferences held this year. This note brings together 49 feedback documents, with 5 target price revisions (o/w 3 downward revisions) and a rating downgrade on Pharma Mar. The main subjects of debate were i/ the trend in final demand in the con...
Last week we held our fourth ODDO BHF Iberian Forum. The event was fully virtual and took place on October 1 and 2. With 62 Iberian issuers, close to 200 institutional investors and c. 800 meetings, this is one of the largest dedicated Iberian conferences held this year. This note brings together 49 feedback documents, with 5 target price revisions (o/w 3 downward revisions) and a rating downgrade on Pharma Mar. The main subjects of debate were i/ the trend in final demand in the con...
Last week we held our fourth ODDO BHF Iberian Forum. The event was fully virtual and took place on October 1 and 2. With 62 Iberian issuers, close to 200 institutional investors and c. 800 meetings, this is one of the largest dedicated Iberian conferences held this year. This note brings together 49 feedback documents, with 5 target price revisions (o/w 3 downward revisions) and a rating downgrade on Pharma Mar. The main subjects of debate were i/ the trend in final demand in the con...
A director at ForFarmers N.V. bought 10,000 shares at 3.238EUR and the significance rating of the trade was 53/100. 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 clearl...
Ageas: The Saga continues. ASM International: KKR reportedly interested in ASM PT. D'Ieteren: Belron €8.1bn debt financing at better rates than expected. Elia: Challenges ahead, CEO appointment necessary. Gimv: €150-250m bond issue by Gimv controlling anchor investor WorxInvest. PostNL: Preparation letter on future of Dutch mail market sent to Parliament. Vonovia: Good progress on disposals
We maintain a defensive stance on the market for 2H24. The long anticipated expectations for interest rate cuts by central banks will finally come to pass. The election fever in the US is reaching boiling point and the conversations are becoming more polarised than before. Also corporate profit growth in Europe slows and the French elections have cast a negative spell. In Germany by-elections in the Eastern part showed a shift to extreme right and left that will make budget decisions even more ...
Solvay: acquisition of own shares and completion of the share buyback program Brussels, October 1, 2024, 6:30pm CEST - regulated information In accordance with article 8:4 of the Royal Decree of 29 April 2019 executing the Belgian Code of Companies and Associations, Solvay SA hereby discloses certain information in relation to its Share Buyback Program, announced on August 1, 2024. Solvay has repurchased 161,273 Solvay shares in the period from September 23, 2024 up to and including October 1, 2024, as follows: Date of repurchase Number of shares Average price paid Max price pa...
Solvay: acquisition d’actions propres et achèvement du programme de rachat d’actions Bruxelles, le 1 october 2024 - 18h30 CEST -) Information réglementée Conformément à l'article 8:4 de l'arrêté royal du 29 avril 2019 exécutant le Code belge des sociétés et des associations, Solvay SA publie certaines informations relatives à son programme de rachat d'actions, annoncé le 1er août 2024. Solvay a racheté 161 273 actions Solvay au cours de la période allant du 23 septembre 2024 au 1er octobre 2024 inclus, comme suit : Date d’achatNombre d’actionsPrix moyen payéPrix max payéPrix min payéTot...
Solvay: verwerving van eigen aandelen en voltooiing van het aandeleninkoopprogramma Brussel, 1 oktober 2024 - 18u30 CEST - Gereglementeerde informatie In overeenstemming met artikel 8:4 van het Koninklijk Besluit van 29 april 2019 tot uitvoering van het Belgisch Wetboek van Vennootschappen en Verenigingen, maakt Solvay NV hierbij bepaalde informatie bekend in verband met haar programma voor de inkoop van eigen aandelen, aangekondigd op 1 augustus 2024. Solvay heeft 161 273 Solvay-aandelen teruggekocht in de periode van 23 september 2024 tot en met 1 oktober 2024, als volgt: Datum van aa...
>Outperform rating reiterated ahead of the Q3 2024 results - In the run-up to the Q3 2024 earnings publication for ASMi on 29 October after closing, we reiterate our Outperform rating, our target price of € 1,000 and leave our forecasts unchanged. We expect Q3 2024 earnings broadly in line, orders once again showing a sequential increase and at least the reiteration of the 2024 guidance of a growth year, likely close to 10%.The valuation is once again aff...
>Opinion surperformance réitérée à l’approche des résultats T3 24 - A l'approche des résultats T3 24 d’ASMi, le 29/10 après clôture, nous réitérons notre opinion Surperformance, notre OC de 1 000 € et laissons nos prévisions inchangées. Nous anticipons des résultats T3 24 globalement en ligne, des commandes de nouveau en hausse séquentielle et au minimum la réitération de la guidance 2024 d’une année en croissance, probablement proche de 10%.Une valorisat...
We refresh our ING Benelux Favourites list. We still apply a fundamental bottom up approach in which we select stocks that provide the best (relative) upside within our Benelux coverage universe and these stocks need clear catalysts. Besides this, we screen our ING Benelux coverage universe on some key investment themes that are topical and which could affect earnings potential and thus a stock's share price performance: (1) interest rate/refinancing opportunity in a lower rates environment; (2)...
Notification de participation par UBS Group AG Bruxelles, le 27 septembre 2024 - 08h30 CET - Information réglementée Conformément à la législation et réglementation en matière de transparence financière (loi du 2 mai 2007), UBS Group AG a envoyé récemment à Solvay la notification de transparence suivante indiquant avoir franchi le seuil de 3%. La notification, datée du 24 septembre 2024, contient l’information suivante: Motif de la notification: acquisition ou cession d’instruments financiers conférant le droit de vote. acquisition ou cession d'instruments financiers assimil...
Participatiemelding van UBS Group AG Brussel, 27 september 2024 - 8u30 CET - Gereglementeerde informatie In overeenstemming met de Belgische transparantiewetgeving (Wet van 2 mei 2007) heeft UBS Group AG onlangs de volgende transparantiekennisgeving naar Solvay gestuurd om aan te geven dat ze de drempel van 3% heeft overschreden. De kennisgeving, gedateerd 24 september 2024, bevat de volgende informatie: Reden voor de kennisgeving: Verwerving of overdracht van stemrechtverlenende effecten of stemrechten Verwerving of overdracht van gelijkgestelde financiële instrumenten Kruising ...
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