reports
- Carole Braudeau
- Carole Braudeau
Thyssenkrupp AG: 1 director
A director at Thyssenkrupp AG bought 49,985 shares at 4.310EUR and the significance rating of the trade was 72/100. 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...
- Konrad Zomer
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/15/2024
GALP, TotalEnergies and Shell have discovered vast oil deposits off the coast of Namibia. Oil services companies see this as a new Eldorado. FPSO-type solutions seem to be favoured, making SBM Offshore a key player, not forgetting subsea companies such as TechnipFMC. The whole sector could help local economic development... and/or have major negative impacts on local communities, biodiversity or the fight against corruption. Not to mention the carbon lock-in. We would therefore urge i...
REL RELX PLC
TKA THYSSENKRUPP AG
ADP AEROPORTS DE PARIS SA
AAL ANGLO AMERICAN PLC
SU SCHNEIDER ELECTRIC SE
RNO RENAULT SA
LI KLEPIERRE SA
ORA ORANGE SA
RI PERNOD RICARD SA
GFC GECINA SA
RXL REXEL SA
GBF BILFINGER SE
EL ESSILORLUXOTTICA SA
SCHP SCHINDLER HOLDING AG PREF
SAF SAFRAN S.A.
AIR AIRBUS SE
VOW3 VOLKSWAGEN AG PREF
CAP CAPGEMINI SE
TIT TELECOM ITALIA S.P.A.
MAP MAPFRE SA
FDJ LA FRANCAISE DES JEUX SA
STLA STELLANTIS N.V.
DSFIR KONINKLIJKE DSM N.V.
- Konrad Zomer
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 15/02/2024
GALP, TotalEnergies ou Shell ont découvert de colossaux gisements de pétrole au large des côtes namibiennes. Les sociétés de services y voient un nouvel eldorado. Les solutions de type FPSO semblent être privilégiées, mettant ainsi SBM Offshore en position d’acteur incontournable, sans oublier ceux liés au subsea comme TechnipFMC. Tout le secteur pourrait aider au développement économique local… et/ou avoir des impacts négatifs importants sur les communautés locales, la biodiversité o...
REL RELX PLC
TKA THYSSENKRUPP AG
ADP AEROPORTS DE PARIS SA
AAL ANGLO AMERICAN PLC
SU SCHNEIDER ELECTRIC SE
RNO RENAULT SA
LI KLEPIERRE SA
ORA ORANGE SA
RI PERNOD RICARD SA
GFC GECINA SA
RXL REXEL SA
GBF BILFINGER SE
EL ESSILORLUXOTTICA SA
SCHP SCHINDLER HOLDING AG PREF
SAF SAFRAN S.A.
AIR AIRBUS SE
VOW3 VOLKSWAGEN AG PREF
CAP CAPGEMINI SE
TIT TELECOM ITALIA S.P.A.
MAP MAPFRE SA
FDJ LA FRANCAISE DES JEUX SA
STLA STELLANTIS N.V.
DSFIR KONINKLIJKE DSM N.V.
- Fabian Semon
thyssenkrupp : Limited positive triggers ahead – New € 6.1 TP (€ 7.0) ...
>Q1 review – Impairments in SE = technicality, more cautious on MX & automotive - Q1 2023-24 adj. EBIT declined by 50% y-o-y to € 84m (group adj. EBIT margin 1.0%), while adj. EBIT margin in MX improved slightly y-o-y (+30bp to 0.9%) fuelled by lower freight costs and cost-cutting measures. The adj. EBIT margin of 2.8% in SE (down 30bp y-o-y) was burdened by significantly lower spot market prices, although lower energy and raw material costs provided a tailwind. In SE...
- Carole Braudeau
- Fabian Semon
- Fabian Semon
- Carole Braudeau
- Fabian Semon
thyssenkrupp : Q1 in line with expectations (lower shipments in MX but...
>Q1 results slightly above the consensus for adj. EBIT, but below for sales & FCF – lower spot market price levels - Q1 2023-24 adj. EBIT was down by 50% y-o-y to € 84m, 4% above consensus estimate of € 81m. In Q1 2023-24, we saw a slight improvement to the adj. EBIT margin in MX (+30bp to 0.9%) fuelled by lower freight costs and cost-cutting measures. The adj. EBIT margin of 2.8% in SE (down 30bp y-o-y, cons.: 2.3%) was burdened by significantly lower spot market pr...
- Ahmed Ben Salem
- Bruno Cavalier
- Marc Lavaud
- Martin Marandon-Carlhian
- Stephane Houri
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 05/02/2024
3 valeurs sortent aujourd’hui de notre liste de Convictions Large Caps européennes. Nous prenons nos profits sur ASML (+ 30% depuis son entrée dans la liste) après sa forte hausse post publication de son T4 2023. Inversement, nous coupons notre position sur RWE (-15% depuis son entrée) après de bons résultats 2023 mais une guidance 2024 revue en baisse. Nous conservons Sodexo dans son nouveau périmètre mais sortons Pluxee. - ...
FME FRESENIUS MEDICAL CARE AG & CO. KGAA
TKA THYSSENKRUPP AG
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
REE RED ELECTRICA CORP. SA
01913 PRADA S.P.A.
MONC MONCLER SPA
ENG ENAGAS SA
CABK CAIXABANK SA
CFR COMPAGNIE FINANCIERE RICHEMONT SA
INGA ING GROEP NV
BHP BHP GROUP LTD
RMV RIGHTMOVE PLC
DSFIR KONINKLIJKE DSM N.V.
- Ahmed Ben Salem
- Bruno Cavalier
- Marc Lavaud
- Martin Marandon-Carlhian
- Stephane Houri
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/05/2024
We are removing three stocks from the ODDO BHF European Large Caps Convictions List today. We are taking our profits on ASML (+30% since its inclusion in the list) after its strong gains since the publication of its Q4 2023 results. Conversely, we are reducing our position on RWE (-15% since its inclusion in the list) following a good set of 2023 results but a downward revision to 2024 guidance. We maintain Sodexo in its new scope in the list but withdraw Pluxee - ...
FME FRESENIUS MEDICAL CARE AG & CO. KGAA
TKA THYSSENKRUPP AG
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
REE RED ELECTRICA CORP. SA
01913 PRADA S.P.A.
MONC MONCLER SPA
ENG ENAGAS SA
CABK CAIXABANK SA
CFR COMPAGNIE FINANCIERE RICHEMONT SA
INGA ING GROEP NV
BHP BHP GROUP LTD
VOD VODAFONE GROUP PLC
RMV RIGHTMOVE PLC
DSFIR KONINKLIJKE DSM N.V.
- Fabian Semon
thyssenkrupp : Could a TKMS deal be on the cards?
>Steps to be taken: 1/ German state with stake, 2/ PE majority stakeholding, 3/ industry consolidation - According to Handelsblatt (HB), tk is in tight negotiations with a private equity fund (initial press reports in Dec. 22/Sept. 23) regarding a potential majority stake holding in TKMS (Carlyle mentioned in the past). The German state would take a minority stake in such a scenario, so that customers do not insist on guarantees (~€ 8bn, according to HB). At a later s...
- Klaus Ringel
- Michael Foundoukidis
- Thomas Zlowodzki
ODDO BHF Small & MIDCAP MORNING NEWS - 19/12/2023 Date Performance dep...
Si le discours de Christine Lagarde a déçu par sa timidité, celui de Jérôme Powell a, lui, clairement contenté les marchés, qui ont salué (trop ?) fortement le rapprochement des perspectives de baisses de taux de la Fed. Nous mettons à jour notre allocation sectorielle tactique pour prendre en compte ces nouvelles perspectives sur son score de Valeur Relative vs Taux et sur la dynamique du consensus sur les BPA. Nous dégradons le secteur Autos & Parts de MW à UW, les Télécommunication...
- Klaus Ringel
- Michael Foundoukidis
- Thomas Zlowodzki
ODDO BHF Small & MIDCAP MORNING NEWS - 12/19/2023 Date Performance sin...
Whereas Christine Lagarde's speech was disappointingly timorous, Jerome Powell's clearly went down well with the markets, which hailed (over enthusiastically?) the prospects for the Fed’s rate cuts materialising sooner than initially expected. We are updating our tactical sector allocation to factor in this new outlook, regarding its Relative Value vs Rates score and the momentum of the consensus on EPS. We are revising down autos & parts from Marketweight (MW) to Underweight (UW), te...
- Michael B. Schäfer
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 12/19/2023
Whereas Christine Lagarde's speech was disappointingly timorous, Jerome Powell's clearly went down well with the markets, which hailed (over enthusiastically?) the prospects for the Fed’s rate cuts materialising sooner than initially expected. We are updating our tactical sector allocation to factor in this new outlook, regarding its Relative Value vs Rates score and the momentum of the consensus on EPS. We are revising down autos & parts from Marketweight (MW) to Underweight (UW), te...
- Michael B. Schäfer
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 19/12/2023
Si le discours de Christine Lagarde a déçu par sa timidité, celui de Jérôme Powell a, lui, clairement contenté les marchés, qui ont salué (trop ?) fortement le rapprochement des perspectives de baisses de taux de la Fed. Nous mettons à jour notre allocation sectorielle tactique pour prendre en compte ces nouvelles perspectives sur son score de Valeur Relative vs Taux et sur la dynamique du consensus sur les BPA. Nous dégradons le secteur Autos & Parts de MW à UW, les Télécommunication...
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