reports
- Alvaro del Pozo
- Emira Sagaama
- Robert Jan Vos
- Thomas Zlowodzki
MC LVMH MOET HENNESSY LOUIS VUITTON SE
ORA ORANGE SA
TKA TELEKOM AUSTRIA AG
GFC GECINA SA
ERIC B TELEFONAKTIEBOLAGET LM ERICSSON CLASS B
EN BOUYGUES SA
RXL REXEL SA
AMUN AMUNDI SA
BLND BRITISH LAND COMPANY PLC
CARL B CARLSBERG A/S CLASS B
AIR AIRBUS SE
SBO SCHOELLER-BLECKMANN OILFIELD EQUIPMENT AG
ASML ASML HOLDING NV
VK VALLOUREC SA
TEN TENARIS S.A.
- Emira Sagaama
- Robert Jan Vos
- Thomas Zlowodzki
MC LVMH MOET HENNESSY LOUIS VUITTON SE
ORA ORANGE SA
TKA TELEKOM AUSTRIA AG
GFC GECINA SA
ERIC B TELEFONAKTIEBOLAGET LM ERICSSON CLASS B
EN BOUYGUES SA
RXL REXEL SA
AMUN AMUNDI SA
BLND BRITISH LAND COMPANY PLC
CARL B CARLSBERG A/S CLASS B
AIR AIRBUS SE
SBO SCHOELLER-BLECKMANN OILFIELD EQUIPMENT AG
ASML ASML HOLDING NV
VK VALLOUREC SA
TEN TENARIS S.A.
- Martin Marandon-Carlhian
- Stephane Houri
- Martin Marandon-Carlhian
- Stephane Houri
- Jan Frederik Slijkerman
- Jeroen van den Broek
- Jesse Norcross
- Nadège Tillier
- Timothy Rahill
- ING Helpdesk
Benelux Morning Notes
ABN AMRO: Pre-close 3Q: HAL inclusion. Ahold Delhaize: Peer Albertsons 2Q25/26 results. AMG: Lithium supply deal with Beijing Easpring. ASML: 3Q25 results supportive. Barco: 3Q25 trading update inline, surprise buyback. Belgian telcos: Start of the market test for cooperation agreement in Flanders. CM.com: Preview 3Q25 trading update. NSI: Vacancy increase as expected, marginal guidance update. Staffing sector: PageGroup 3Q25 trading update. Zabka: 3Q25 Preview - Like-for-Like(...
- Guy Sips
- Jacob Mekhael
- Mathijs Geerts Danau
- Michiel Declercq
- Thibault Leneeuw
- Wim Hoste
- Thibault Leneeuw
ASML FY25 outlook in line with CSS, 2026 will not be below 2025
ASML reported 3Q25 revenues below expectations, yet the outlook for 4Q25 is ahead of CSS. ASML expects approximately 15% sales growth in 2025 in line with CSS (14.4%). Despite the revenue miss, net earnings were slightly better than expected due to lower SG&A, R&D and net interests. ASML expects 2026 sales not to be below 2025, as Chinese demand will be significantly lower. Net bookings came in above a low CSS estimate. We would like to see a very strong order intake in 4Q25 before we lose visib...
- Research Department
IBERIAN DAILY 15 OCTOBER (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: COLONIAL, ENAGÁS, VISCOFAN. All eyes on the trade front again European stock markets fell, dragged down by the trade war. Meanwhile, BoFA’s investors survey suggested underweighting of liquidity at highs from Dec’24 and the most bullish investor sentiment since Feb’25 although the bubble in AI shares is seen as the main risk for the first time. In the STOXX 600 Telecoms and Insurance were the best performers whereas cyclical sectors such as Basic Resources and Autos saw the bigge...
- Research Department
INFORME DIARIO 15 OCTUBRE + RDOS. EUROPA 3T’25. PREVIEWS (ANÁLISIS BAN...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ENAGÁS, INMOBILIARIA COLONIAL, VISCOFAN. EUROPA: ASML, INTESA SANPAOLO, LVMH, UNICREDIT. 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’25 que se publicarán en España y Europa en los próximos días. De nuevo, el frente comercial Correcciones en los índices de Europa, enfrascados en el enfrentamiento come...
ASML reports €7.5 billion total net sales and €2.1 billion net income ...
ASML reports €7.5 billion total net sales and €2.1 billion net income in Q3 2025 ASML reports €7.5 billion total net sales and €2.1 billion net income in Q3 2025 Full-year 2025 expected total net sales growth of around 15% with gross margin around 52% VELDHOVEN, the Netherlands, October 15, 2025 – Today, ASML Holding NV (ASML) has published its 2025 third-quarter results. Q3 total net sales of €7.5 billion, gross margin of 51.6%, net income of €2.1 billionQuarterly net bookings in Q3 of €5.4 billion2 of which €3.6 billion is EUVASML expects Q4 2025 total net sales between €9.2 billion an...
Sanofi: Information concerning the total number of voting rights and s...
Sanofi: Information concerning the total number of voting rights and shares - September 2025 Information concerning the total number of voting rights and shares, provided pursuant to article L. 233-8 II of the Code de commerce (the French Commercial Code) and article 223-16 of the Règlement général de l’Autorité des Marchés Financiers (Regulation of the French stock market authority) Sanofia French société anonyme with a registered share capital of €2,454,937,946Registered office : 46, avenue de la Grande Armée - 75017 Paris - FranceRegistered at the Paris Commercial and Companies Registry...
Sanofi: Informations relatives au nombre de droits de vote et d'action...
Sanofi: Informations relatives au nombre de droits de vote et d'actions - Septembre 2025 Informations relatives au nombre total de droits de vote et d’actions prévues par l’article L. 233-8 II du Code de commerce et l’article 223-16 du Règlement général de l’Autorité des Marchés Financiers SanofiSociété anonyme au capital de 2 454 937 946 euros Siège social : 46, avenue de la Grande Armée - 75017 Paris395 030 844 R.C.S. Paris DateNombre d’actions composant le capital Nombre réel de droits de vote (déduction faite des actions auto-détenues)Nombre théorique de droits de vote (y compris actio...
- Pierre FerraguÊ
Semicon West: 2026 outlook? Does AI drive growth? DRAM architectures? ...
Last week we attended the 2025 edition of the Semicon West conference, the key event for investors focused on the semiconductor equipment market. Over two days we hosted more than a dozen meetings with companies across the semiconductor value chain. Here are our key takeaways.
TSFA TAIWAN SEMICONDUCTOR MANUFACTURING CO. LTD. SPONSORED ADR
NVDA NVIDIA CORPORATION
MU MICRON TECHNOLOGY INC.
LRCX LAM RESEARCH CORPORATION
AMAT APPLIED MATERIALS INC.
BSI BE SEMICONDUCTOR INDUSTRIES N.V.
2330 TSMC
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
8035 TOKYO ELECTRON LTD.
KLAC KLA CORPORATION
AMD ASML HOLDING N.V.
ASML ASML HOLDING NV
AVGO ADVANCED MICRO DEVICES INC.
SOH1 ASML
BESI BROADCOM INC.
SOITEC
Acciona SA: 1 director
A director at Acciona SA sold 707 shares at 184.000EUR and the significance rating of the trade was 60/100. 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...
- Martin Marandon-Carlhian
- Stephane Houri
ODDO : Mémoire : Et si nous étions à l’aube d’un ‘supercycle’ ?
Les prix de la mémoire ont progressé de 15% sur un mois et de ~30% YTD. Cela reflète une forte tension sur l’offre alors que la demande IA est plus élevée qu’attendu. Les stocks de mémoires sont, par ailleurs, au plus bas, ouvrant la voie en 2026 à un supercycle, tiré par l’IA mais aussi par l’intégration de l’Edge AI dans les smartphones/PC. Un marché des semis à ~+15/20% en 2026 est crédible dans ce contexte. Dans notre couverture, cela devrait d’abord bénéficier à ASML, VAT, Siltronic, ASMi e...
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
AIXA AIXTRON SE
PFV PFEIFFER VACUUM TECHNOLOGY AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
WAF SILTRONIC AG
MELE MELEXIS NV
SMHN SUESS MICROTEC AG
VACN VAT GROUP AG
XFAB X-FAB SILICON FOUNDRIES SE
ASML ASML HOLDING NV
STM STMICROELECTRONICS NV
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
JEN JENOPTIK AG
ARM ARM HOLDINGS PLC
AMS AMS-OSRAM AG
- Bruno Cavalier
MC LVMH MOET HENNESSY LOUIS VUITTON SE
HO THALES SA
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
EL ESSILORLUXOTTICA SA
TEP TELEPERFORMANCE SE
BRBY BURBERRY GROUP PLC
KER KERING SA
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
BAS BASF SE
01913 PRADA S.P.A.
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
AIXA AIXTRON SE
PFV PFEIFFER VACUUM TECHNOLOGY AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
MONC MONCLER SPA
WAF SILTRONIC AG
MELE MELEXIS NV
SMHN SUESS MICROTEC AG
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
MERLIN MERLIN PROPERTIES SOCIMI S.A.
RACE FERRARI NV
VACN VAT GROUP AG
XFAB X-FAB SILICON FOUNDRIES SE
ASML ASML HOLDING NV
BIM BIOMERIEUX SA
STM STMICROELECTRONICS NV
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
SIK SIKA AG
JEN JENOPTIK AG
STLA STELLANTIS N.V.
ZGN ERMENEGILDO ZEGNA NV
ARM ARM HOLDINGS PLC
AMS AMS-OSRAM AG
- Bruno Cavalier
MC LVMH MOET HENNESSY LOUIS VUITTON SE
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
KER KERING SA
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
01913 PRADA S.P.A.
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
AIXA AIXTRON SE
TIETO TIETOEVRY OYJ
NDA AURUBIS AG
PFV PFEIFFER VACUUM TECHNOLOGY AG
PAL PALFINGER AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
TECN TECAN GROUP AG
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
MONC MONCLER SPA
WAF SILTRONIC AG
MELE MELEXIS NV
SMHN SUESS MICROTEC AG
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
VACN VAT GROUP AG
FTG111 FLATEXDEGIRO AG
XFAB X-FAB SILICON FOUNDRIES SE
ASML ASML HOLDING NV
STM STMICROELECTRONICS NV
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
JEN JENOPTIK AG
VUL VULCAN ENERGY RESOURCES
ZGN ERMENEGILDO ZEGNA NV
SHUR SHURGARD SELF STORAGE LIMITED
ARM ARM HOLDINGS PLC
ARVEN ARVERNE GROUP SA
AMS AMS-OSRAM AG
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