Aedifica, Cofinimmo: Update on the Belgian Competition Authority. Arcadis: Share buyback programme. ASR: Focus on rural Real Estate – Farmland Fund. Coca-Cola Europacific Partners plc: Disasters strike. Heineken: From green to red. Zabka: Raising medium term store opening guidance
Aedifica provided an update on its pending transaction, confirming that it remains in the pre-notification phase with the Belgian Competition Authority (BCA). The company is in ongoing discussions with the BCA's Investigation and Prosecution Service (IPS), including around potential commitments such as asset disposals in Belgium. While the timeline for the formal filing has shifted, Aedifica still aims to launch the exchange offer in Q4 2025, subject to ending the pre-notification phase by end-O...
Over the past month, the EPRA BELUX index has underperformed (total return) the EPRA Developed Europe index by 3.2%, the STOXX50 by 5.4%, and the BEL20 by 3.6%. This underperformance relative to the EPRA Developed Europe Index can be attributed to the stronger performance of UK real estate compared to eurodenominated stocks, as UK equities led the recovery following a selloff in August. Additionally, the BELUX region had already posted strong year-to-date performance, which limited further upsid...
A director at Atenor SA bought 23,736 shares at 2.990EUR and the significance rating of the trade was 57/100. 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 show...
During the CMD mid-September, PNL announced a normalized EBIT target of at least € 175m by 2028. The improvement is expected to come from strong international growth and a significant margin uplift in domestic e-commerce. Key drivers include the expansion of the APL network and the shift from next-day to best-day delivery. While we see these initiatives as logical next steps, we expect uncertainty in the mail business and negative mix effects at parcels to persist. As most of the guided margin i...
Aedifica: €21m investment in the development of 3 care homes in Finland. CTP: Highlights from 2-day CMD in Germany. dsm-firmenich: Softly does it. Prosus: Expanding the ecosystem. Randstad: Preliminary preview 3Q25F results due 22 October. TKH Group: Change is coming. UCB: Renewed tariff threat on US branded pharma unlikely to affect UCB
Last week’s EPRA conference provided cautious optimism on listed European real estate. The segment offers a mix of risks and opportunities, with discounted valuations presenting attractive entry points. We downgrade Care Property Invest (Underperform vs Neutral, TP €12 vs €13.5); we lower our TPs for British Land, Landsec, Shurgard, and Xior Student Housing; we raise our TPs for URW, Wereldhave and VGP. In conclusion we favour logistics, retail, Spain, and CEE for growth, and Switzerland remains...
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