reports
- Alfonso Mariategui
AIR LIQUIDE / LINDE: A-GAS-AJANDO AL INVERSOR (ANÁLISIS BANCO SABADELL...
A-gas-ajando al inversor. Mantenemos SOBREPONDERAR en ambas. Aquellos que se compraron hace 5 años a los principales players del sector gasístico europeo (AI y LIN) y han “dejado” a las acciones hacer su trabajo se han visto agasajados con unas rentabilidades del +35% y +146% vs Euro STOXX 50 respectivamente. Esto es reflejo de las cualidades del sector (oligopolio, barreras de entrada, capacidad para traspasar e incrementar precios, resiliencia y visibilidad de crecimiento futuro), que vemos c...
- Research Department
INFORME DIARIO 22 NOVIEMBRE (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: COLONIAL, GRIFOLS, IMPUESTOS, SECTOR BANCARIO. EUROPA: AIR LIQUIDE, LINDE. Dudas en los mercados Jornada de menos a más tras los resultados de Nvidia en las bolsas europeas, que terminaron con subidas moderadas y con el Ibex recuperando los 11.600 puntos. Así, dentro del STOXX 600, Seguros y Energía lideraron las ganancias, frente a Telecos y Bienes de Consumo que terminaron con las mayores caídas. En la Eurozona la confianza del consumidor prelim...
Munchener Ruckversicherungs-Gesellschaft AG: 1 director
A director at Munchener Ruckversicherungs-Gesellschaft AG bought 1,000 shares at 470.257EUR and the significance rating of the trade was 96/100. 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 o...
- Research Department
IBERIAN DAILY 18 NOVEMBER + 3Q’24 RESULTS. PREVIEWS (ANÁLISIS BANCO SA...
NEWS SUMMARY: ACCIONA, ACCIONA ENERGÍA, ENDESA, GRIFOLS, MERLIN PROPERTIES, ROVI. At the end of today’s report, and during the entire results season, we will include a presentation with positive and negative results highlights and previews for the 3Q’24 results to be released over the coming days in Spain. Post-electoral phase in the US After the confirmation that the Republican Party obtained majority in the two parliamentary chambers and following some announcements or possible appointments...
- Research Department
INFORME DIARIO 18 NOVIEMBRE + RDOS. ESPAÑA 3T’24. PREVIEWS (ANÁLISIS B...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACCIONA, ACCIONA ENERGÍA, ENDESA, GRIFOLS, MERLIN PROPERTIES, ROVI. EUROPA: PROSUS. Incluido en el informe diario de hoy, y durante toda la campaña de resultados, incorporamos al final una presentación con los resultados destacados en positivo y negativo y previews de Rdos. 3T’24 que se publicarán en España y Europa en los próximos días. Mercados en fase post-electoral Durante la semana pasada los índices mundiales entraron en la fase post elect...
- Ahmed Ben Salem
- Bruno Cavalier
EQNR EQUINOR ASA
GALP GALP ENERGIA SGPS SA CLASS B
VOLV B VOLVO AB CLASS B
MRK MERCK KGAA
EOAN E.ON SE
ALO ALSTOM SA
ENI ENI S.P.A.
REP REPSOL SA
ANA ACCIONA SA
MERLIN MERLIN PROPERTIES SOCIMI S.A.
SIE SIEMENS AG
ASML ASML HOLDING NV
BP. BP P.L.C.
REY REPLY S.P.A.
LAND LAND SECURITIES GROUP PLC
BNTX BIONTECH SE
ANE CORPORACION ACCIONA ENERGIAS RENOVABLES SA
SHEL SHELL PLC
AGN AEGON N.V.
- Ahmed Ben Salem
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/15/2024
Swiss-based Accelleron was formed from the spin-off of ABB’s highly profitable turbocharger division in 2022. We view the share as a promising investment on 1/ market leadership in an attractive niche, 2/ about ~40% ROCE, 3/ conversion of ~80% of EBITDA into cash, leading to fast deleveraging, and a solid base for shareholder remuneration (75% pay out), and 4/ strong long-term visibility linked to a ~75% service share, the bulk of which is recurring. Despite an already strong stock pe...
EQNR EQUINOR ASA
GALP GALP ENERGIA SGPS SA CLASS B
VOLV B VOLVO AB CLASS B
MRK MERCK KGAA
EOAN E.ON SE
ALO ALSTOM SA
ENI ENI S.P.A.
REP REPSOL SA
ANA ACCIONA SA
MERLIN MERLIN PROPERTIES SOCIMI S.A.
SIE SIEMENS AG
ASML ASML HOLDING NV
BP. BP P.L.C.
REY REPLY S.P.A.
LAND LAND SECURITIES GROUP PLC
BNTX BIONTECH SE
ANE CORPORACION ACCIONA ENERGIAS RENOVABLES SA
SHEL SHELL PLC
AGN AEGON N.V.
- Andres Bolumburu
- Ana Arjona-Martinez
Acciona : Q3 trends in line with previous quarters; Guidance reiterate...
>No surprises at the stub - We see limited potential impact at the stub from Acciona’s Q3 2024 trading update, as limited information was provided for the business excluding Acciona Energía and Nordex. Still, in our view, the overall operating message for the stub was positive, specially at the infrastructure division, where solid trends from previous quarters have been maintained. Key highlights from the release concerning the stub are: 1/ the construction divis...
- Research Department
IBERIAN DAILY 15 NOVEMBER + 3Q’24 RESULTS. PREVIEWS (ANÁLISIS BANCO SA...
NEWS SUMMARY: ACCIONA, ACCIONA ENERGÍA, CAF, CAIXABANK, COLONIAL, MERLIN. At the end of today’s report, and during the entire results season, we will include a presentation with positive and negative results highlights and previews for the 3Q’24 results to be released over the coming days in Spain. ECB’s target nearly met The Euro STOXX 50 had its best day since late September, while the ECB’s meeting minutes suggested the 2% inflation target will be met earlier than expected, thus cementing t...
- Research Department
INFORME DIARIO 15 NOVIEMBRE + RDOS. ESPAÑA 3T’24. PREVIEWS (ANÁLISIS B...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACCIONA, ACCIONA ENERGÍA, CAF, CAIXABANK, COLONIAL, MERLIN. EUROPA: ASML, SANOFI. Incluido en el informe diario de hoy, y durante toda la campaña de resultados, incorporamos al final una presentación con los resultados destacados en positivo y negativo y previews de Rdos. 3T’24 que se publicarán en España y Europa en los próximos días. El BCE con el objetivo casi cumplido El Euro STOXX 50 tuvo su mejor día desde finales de septiembre mientras las ...
- Research Department
IBERIAN DAILY 14 NOVEMBER + 3Q’24 RESULTS. HIGHLIGHTS AND REST OF PREV...
NEWS SUMMARY: FERROVIAL, GRIFOLS, IBERDROLA. At the end of today’s report, and during the entire results season, we will include a presentation with positive and negative results highlights and previews for the 3Q’24 results to be released over the coming days in Spain. US inflation continues to follow the script European stock markets ended with drops, although the US inflation data helped distance them from daily lows. In the STOXX 600 the best-performing sectors were Energy and Consumer Goo...
- Research Department
INFORME DIARIO 14 NOVIEMBRE + RDOS. ESPAÑA 3T’24. IDEAS DESTACADAS Y P...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: FERROVIAL, GRIFOLS, IBERDROLA. EUROPA: ASML, DEUTSCHE TELEKOM, PROSUS, SIEMENS. Incluido en el informe diario de hoy, y durante toda la campaña de resultados, incorporamos al final una presentación con los resultados destacados en positivo y negativo y previews de Rdos. 3T’24 que se publicarán en España y Europa en los próximos días. La inflación estadounidense sigue el camino esperado Las bolsas europeas terminaron con caídas, aunque el dato de i...
- Andres Bolumburu
- James Ratzer
- Julian Dobrovolschi
ENX EURONEXT NV
MC LVMH MOET HENNESSY LOUIS VUITTON SE
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
MUV2 MUNICH REINSURANCE COMPANY
RHM RHEINMETALL AG
KBC KBC GROUP N.V.
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
KER KERING SA
G ASSICURAZIONI GENERALI S.P.A.
01913 PRADA S.P.A.
MONC MONCLER SPA
REC RECORDATI INDUSTRIA CHIMICA E FARMACEUTICA S.P.A.
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
CLNX CELLNEX TELECOM S.A.
MRNA MODERNA INC.
- Carole Braudeau
- Carole Braudeau
- Julian Dobrovolschi
ENX EURONEXT NV
MC LVMH MOET HENNESSY LOUIS VUITTON SE
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
MUV2 MUNICH REINSURANCE COMPANY
RHM RHEINMETALL AG
KBC KBC GROUP N.V.
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
KER KERING SA
G ASSICURAZIONI GENERALI S.P.A.
01913 PRADA S.P.A.
MONC MONCLER SPA
REC RECORDATI INDUSTRIA CHIMICA E FARMACEUTICA S.P.A.
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
CLNX CELLNEX TELECOM S.A.
MRNA MODERNA INC.
- Ana Arjona-Martinez
Cellnex : Results completely in line; short and mid-term guidance reit...
>EBITDAaL just 0.7% and 0.9% above our estimates and the consensus - Cellnex’s Q3 2024 results were in line with our estimates and with the consensus at the operating level: revenues at € 982m (€ 987m ODDO BHF and € 982m css), with a slightly weaker performance from DAS and Services compensated by a better performance in France (probably partially impacted by the timing of the disposal of remedies within the quarter). An in-line performance in both opex and lease lia...
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