reports
- Research Department
IBERIAN DAILY 13 SEPTEMBER (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: ACS, CHANGES IBEX, IBERDROLA, OHLA. ECB follows the script Another session of gains in Europe that was largely unaffected by the ECB, which lowered rates as expected. The IBEX again led the advance, closing above 11,400 points. Thus, in the STOXX 600 almost all sectors closed with gains, led by Basic Materials and Technology, with Utilities and Pharma being the worst performers with slight drops. On the macro side, the ECB lowered the deposit facility rate by -25bps and the margin...
- Research Department
INFORME DIARIO 13 SEPTIEMBRE (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACS, CAMBIOS IBEX 35, IBERDROLA, OHLA. EUROPA: VINCI. El BCE sigue su curso Nueva jornada de ganancias en Europa sin verse muy afectadas por un BCE que bajó los tipos como esperado. El Ibex lideró nuevamente los avances hasta cerrar al filo de los 11.400 puntos. Así, en el STOXX 600 casi todos los sectores cerraron con ganancias, lideradas por Recursos Básicos y Tecnología frente al peor comportamiento de Utilities y Farma que mostraron modestas caí...
- Research Department
IBERIAN DAILY 12 SEPTEMBER (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: AEDAS HOMES, CAF, CHANGES IBEX, NEINOR HOMES. IBEX close to 11,300 points It was a positive session in Europe, with the US inflation data showing no surprises and where the IBEX led the gains following Inditex’s solid results. Thus, in the STOXX 600 Retail (driven by Inditex’s results) and Technology posted the biggest gains, whereas Real Estate (the second-best sector over the past three months) and Consumer Goods were the worst performers. On the macro side, in the US August’s g...
- Research Department
INFORME DIARIO 12 SEPTIEMBRE (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: AEDAS, CAF, CAMBIOS IBEX 35, NEINOR. EUROPA: BAYER, UNICREDIT. El Ibex roza los 11.300 puntos Jornada positiva en Europa, con un dato de inflación en EE.UU. que no ofreció sorpresas y donde el Ibex lideró los avances tras los buenos resultados de Inditex. Así, en el STOXX 600 Retail (impulsado por los resultados de Inditex) y Tecnología presentaron las mayores ganancias mientras que Inmobiliario (el segundo mejor sector en los últimos 3 meses) y B. ...
- Research Department
INFORME DIARIO 11 SEPTIEMBRE (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: AEDAS HOMES, INDITEX, SANTANDER, TALGO. EUROPA: BMW, UNICREDIT. Continua la volatilidad Jornada de más a menos en las bolsas europeas, que sin un catalizador claro fueron perdiendo altura hasta terminar con números rojos. Así, la mayoría de sectores del STOXX 600 cerró con pérdidas, lideradas por Autos y Energía (caídas del brent del 4,5%) frente a los defensivos Inmobiliario y Utilities que presentaron el mejor comportamiento. Por el lado macro, en...
- Research Department
IBERIAN DAILY 11 SEPTEMBER (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: AEDAS HOMES, INDITEX, SANTANDER, TALGO. Volatility continues It was a session of decreasing performance on European markets which, lacking a clear driver, fell into the red by the end of the day. In the STOXX 600, most sectors ended with losses, led by Autos and Energy (Brent fell -4.5%), compared to defensive sectors like Real Estate and Utilities, which were the best performers. On the macro side, in Spain July’s industrial output fell unexpectedly. In the UK, quarterly wage gro...
- Research Department
INFORME DIARIO 10 SEPTIEMBRE (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: INDITEX, ROVI, TALGO, TELEFÓNICA. La semana comenzó con rebote Jornada al alza a ambos lados del Atlántico que llevó al Ibex a recuperar los 11.200 puntos en una semana clave, con el dato de inflación de EE.UU. (miércoles) y la reunión del BCE el jueves. Así, todos los sectores del STOXX 600 menos Autos e Inmobiliario presentaron subidas, lideradas por Viajes y Ocio y Químicas. Por el lado macro, en la Eurozona el índice de confianza Sentix de sept...
- Research Department
IBERIAN DAILY 10 SEPTEMBER (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: ROVI, TALGO, TELEFÓNICA. Rally to kick off the week It was a session of gains on both sides of the Atlantic, bringing the IBEX back above 11,200 points in a key week, with US inflation data (Wednesday) and the ECB meeting (Thursday). All the sectors of the STOXX 600 except Autos and Real Estate posted gains, led by Travel & Leisure and Chemicals. On the macro side, in the euro zone September’s Sentix investor confidence index deteriorated more than expected to its lowest level sin...
- Bruno Cavalier
- Louis Boujard
- CFA
- Philippe Ourpatian
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 09/09/2024
At the 15th edition of our Corporate Conference, hosted jointly by ODDO BHF and Commerzbank, the presenting corporates were still focused on the macroeconomic environment and the related impact on their sectors. Regionally, the US remains resilient at good levels, while China and Europe are lagging behind. Germany in particular is seen as sluggish. Hence, we observed a mixed picture across the 89 companies presenting at our conference. We were positively surprised by statements from a...
ENGI ENGIE SA.
EDP EDP-ENERGIAS DE PORTUGAL SA
MC LVMH MOET HENNESSY LOUIS VUITTON SE
FORTUM FORTUM OYJ
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
KER KERING SA
EOAN E.ON SE
ELE ENDESA S.A.
ORSTED ORSTED
SAN SANOFI
VER VERBUND AG CLASS A
ENEL ENEL SPA
01913 PRADA S.P.A.
GAS NATURGY ENERGY GROUP S.A.
EDW EDP RENOVAVEIS SA
MONC MONCLER SPA
IBE IBERDROLA SA
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
VWS VESTAS WIND SYSTEMS
ANE CORPORACION ACCIONA ENERGIAS RENOVABLES SA
UN0 UNIPER SE
- Bruno Cavalier
- Louis Boujard
- CFA
- Philippe Ourpatian
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 09/09/2024
At the 15th edition of our Corporate Conference, hosted jointly by ODDO BHF and Commerzbank, the presenting corporates were still focused on the macroeconomic environment and the related impact on their sectors. Regionally, the US remains resilient at good levels, while China and Europe are lagging behind. Germany in particular is seen as sluggish. Hence, we observed a mixed picture across the 89 companies presenting at our conference. We were positively surprised by statements from a...
ENGI ENGIE SA.
EDP EDP-ENERGIAS DE PORTUGAL SA
MC LVMH MOET HENNESSY LOUIS VUITTON SE
FORTUM FORTUM OYJ
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
KER KERING SA
EOAN E.ON SE
ELE ENDESA S.A.
ORSTED ORSTED
SAN SANOFI
VER VERBUND AG CLASS A
ENEL ENEL SPA
01913 PRADA S.P.A.
GAS NATURGY ENERGY GROUP S.A.
EDW EDP RENOVAVEIS SA
MONC MONCLER SPA
IBE IBERDROLA SA
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
VWS VESTAS WIND SYSTEMS
ANE CORPORACION ACCIONA ENERGIAS RENOVABLES SA
UN0 UNIPER SE
PUIG PUIG BRANDS
- Louis Boujard
- CFA
- Philippe Ourpatian
ODDO : Curtailments in Brazil, limited impact on Iberdrola, Enel and E...
>Recap of the announcement made by Votalia on 20 August - On 20 August, Voltalia announced that the Brazilian transmission network operator was imposing a sizeable curtailment on some parts of the network which will impact group 2024 EBITDA to the tune of € 40m, if these measures to reduce inflow continue over the next few months and if the group is not compensated financially. The curtailment on production volumes for Voltalia in the northeast portion of the network ...
ENGI ENGIE SA.
EDP EDP-ENERGIAS DE PORTUGAL SA
FORTUM FORTUM OYJ
EOAN E.ON SE
ELE ENDESA S.A.
ORSTED ORSTED
VER VERBUND AG CLASS A
ENEL ENEL SPA
GAS NATURGY ENERGY GROUP S.A.
EDW EDP RENOVAVEIS SA
IBE IBERDROLA SA
VWS VESTAS WIND SYSTEMS
ANE CORPORACION ACCIONA ENERGIAS RENOVABLES SA
UN0 UNIPER SE
- Louis Boujard
- CFA
- Philippe Ourpatian
ODDO : Les effacements au Brésil, peu d’impacts sur Iberdrola, Enel et...
>Rappel des faits annoncés par Voltalia le 20 août dernier - Le 20 août dernier, Voltalia a annoncé que l’opérateur du réseau de transmission brésilien impose actuellement des écrêtements prononcés dans certaines parties du réseau qui impacterait l’EBITDA 2024 du groupe à hauteur de 40 M€, si ces mesures de réduction d’injection se prolongeaient au cours des prochains mois et si le groupe n’était pas compensé financièrement. Le volume d’écrêtement de la production de ...
ENGI ENGIE SA.
EDP EDP-ENERGIAS DE PORTUGAL SA
FORTUM FORTUM OYJ
EOAN E.ON SE
ELE ENDESA S.A.
ORSTED ORSTED
VER VERBUND AG CLASS A
ENEL ENEL SPA
GAS NATURGY ENERGY GROUP S.A.
EDW EDP RENOVAVEIS SA
IBE IBERDROLA SA
VWS VESTAS WIND SYSTEMS
ANE CORPORACION ACCIONA ENERGIAS RENOVABLES SA
UN0 UNIPER SE
- Research Department
IBERIAN DAILY 05 SEPTEMBER (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: ACCIONA, FCC, GRIFOLS, INDRA, SACYR. The correction continues in Europe European stock markets saw new corrections, given the contagion effect from the US market and doubts about growth Thus, in the STOXX 600, Real Estate and Telecoms led the gains vs. Technology (hit by NVIDIA’s correction) and Consumer Goods (following the weak Chinese manufacturing data) posted the biggest drops. On the macro side, in the euro zone, August’s final services PMI was cut by Germany. In Spain, even...
- Research Department
INFORME DIARIO 05 SEPTIEMBRE (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACCIONA, FCC, GRIFOLS, INDRA, SACYR. Se mantiene el castigo en Europa Las bolsas europeas sufrieron una nueva sesión de caídas, contagiadas por el mercado estadounidense y las dudas sobre el crecimiento. En el STOXX 600 sobresalieron las ganancias de Inmobiliario y Telecomunicaciones frente a Tecnología (contagiado por las caídas de NVIDIA) y B. Consumo (tras los débiles datos del manufacturero chino), que sufrieron las mayores pérdidas. Por el lado...
- Research Department
IBERIAN DAILY 03 SEPTEMBER (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: IBERDROLA, TALGO. The Ibex kicks off September at 11,400 points European stock markets kicked off September with slight gains and without any references from the US and Canada that were closed for holiday. Meanwhile, markets await the employment data to be released next Friday in the US that could determine the extent of the Fed’s rate cut. Thus, in the STOXX 600, Real Estate (with possible M&A deals in the UK) and Telecoms were the best performers whereas Retail and Industrial po...
- Research Department
INFORME DIARIO 03 SEPTIEMBRE (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: IBERDROLA, TALGO. EUROPA: VOLKSWAGEN. El Ibex comienza septiembre en los 11.400 puntos Las bolsas europeas comenzaron septiembre con tímidas subidas, sin contar con referencias desde EE.UU. y Canadá, que se mantuvieron cerradas por festividad. Mientras, el mercado se mantiene a la espera de los datos de empleo estadounidenses (viernes) que podrían determinar la cuantía del recorte de tipos de la Fed. Con todo, en el STOXX 600 los mejores sectores fu...
- Research Department
IBERIAN DAILY 30 AUGUST (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: GRIFOLS, TALGO. Macroeconomic data fuels stock markets It was a session of gains at both sides of the Atlantic, with Europe benefiting from better inflation data in Germany in Spain in addition to the fact that the 2Q’24 GDP was raised in the US. In the STOXX 600, most sectors ended with gains, led by Technology and Media vs. Real Estate and Insurance that posted the biggest drops. On the macro side, in the euro zone, August’s economic sentiment rose more than expected due mainly...
- Research Department
INFORME DIARIO 30 AGOSTO (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: GRIFOLS, TALGO. EUROPA: NOKIA. La macro empuja las bolsas Nueva jornada de avances a ambos lados del Atlántico, beneficiándose Europa de unos mejores datos de inflación en Alemania y España además de la revisión al alza del crecimiento de PIB 2T’24 en EE.UU. Así, en el STOXX 600 la mayoría de los sectores cerró con ganancias, lideradas por Tecnología y Media frente a Inmobiliario y Seguros que sufrieron las mayores pérdidas. Por el lado macro, en la...
- Research Department
IBERIAN DAILY 28 AUGUST (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: SANTANDER, TALGO. A transition session It was a typical late-summer session, with slight gains on stock markets and little macroeconomic references. In the STOXX 600, Household and Travel&Leisure led gains, whereas Consumer Goods (Luxury) and Real Estate posted the biggest drops. On the macro side, in Germany, the final 2Q’24 GDP confirmed the -0.1% QoQ, whereas September’s GfK consumer confidence dropped unexpectedly. From the ECB, K. Knot (Netherlands) admitted that interest rat...
- Research Department
INFORME DIARIO 28 AGOSTO (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: SANTANDER, TALGO. EUROPA: PERNOD RICARD. Sesión de transición Jornada típica de finales de verano, con ligeras subidas en bolsa y pocas novedades desde el frente macro. En el STOXX 600 los mejores sectores fueron Hogar y Viajes&Ocio mientras que B. Consumo (por la parte del lujo) e Inmobiliario sufrieron las mayores correcciones. Por el lado macro, en Alemania el PIB final del 2T’24 confirmó el -0,1% trimestral mientras que la confianza del consumid...
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