reports
- Hilde Van Boxstael
- Kristof Samoy
- Wim Hoste
- Wim Lewi
Progress on share buyback programme
Progress on share buyback programme Progress on share buyback programme ING announced today that, as part of our €2.0 billion share buyback programme announced on 31 October 2024, in total 5,545,654 shares were repurchased during the week of 11 November 2024 up to and including 15 November 2024. The shares were repurchased at an average price of €14.88 or a total amount of €82,507,552.62. For detailed information on the daily repurchased shares, individual share purchase transactions and weekly reports, see the ING website at . In line with the purpose of the programme to reduce the sha...
Progress on share buyback programme
Progress on share buyback programme Progress on share buyback programme ING announced today that, as part of our €2.0 billion share buyback programme announced on 31 October 2024, in total 7,704,055 shares were repurchased during the week of 4 November 2024 up to and including 8 November 2024. The shares were repurchased at an average price of €15.35 or a total amount of €118,240,205.76. For detailed information on the daily repurchased shares, individual share purchase transactions and weekly reports, see . In line with the purpose of the programme to reduce the share capital of ING, t...
- Jørgen Lian
CMB.TECH (Hold, TP: USD14.10) - Diversification at a cost
CMB.TECH’s diversified and ‘future-proof’ approach may prove attractive in steadily managing shipping cycles, changing fundamentals and stricter environmental regulations. However, diversification also comes at a price, and its heavy newbuild programme is straining its balance sheet and the outlook for dividends. Thus, we currently see greater upside potential in its pure crude tanker peers. We reiterate our HOLD and have lowered our target price to USD14.1 (16.3).
- ING Helpdesk
Benelux Morning Notes
Aalberts: Building already bottoming, industry tough. Air France-KLM: Nobody helps. Alfen: Covenant agreement, hikes output Smart Grid. AMG: Sweet for 2024F, sour for 2025F. ArcelorMittal: 3Q24 EBITDA beats by 6%, FCF solid. BAM: 3Q beats, on its way to reach FY guidance. CMB.TECH: 3Q and FY24 reasonable but then more challenges. D'Ieteren: EGM and dividend dates announced; Belron US peer Boyd disappointing 3Q24. GBL: Double-digit TSR expected over 2024-27F. KBC: 3Q better acro...
- Hilde Van Boxstael
- Jacob Mekhael
- Kristof Samoy
- Lynn Hautekeete
- Sharad Kumar S.P
- Thibault Leneeuw
- Thomas Couvreur
- Wim Hoste
- Jacob Mekhael
ASH abstracts Autolus, Galapagos, MaaT
The abstracts for presentations at ASH (7-10 December) became available yesterday during the day (here). While we may have to wait until the actual conference for the latest datasets, here in this note are some key takeaways for our coverage including updates from Autolus (digging deeper into the obe-cel dataset), Galapagos (more CAR-T data and pre-clinical data on TCR-T) and MaaT (early access program in aGvHD):
Galapagos to Present Results of Pioneering Innovation in Cancer Cell T...
Galapagos to Present Results of Pioneering Innovation in Cancer Cell Therapy at ASH 2024 New Phase 1/2 data support the potential of our CAR T-cell therapy candidates, GLPG5101 and GLPG5201, in addressing unmet needs for patients with poor prognoses. Our innovative decentralized cell therapy manufacturing platform delivers fresh, fit cells within a median vein-to-vein time of seven days, with potentially encouraging patient outcomes. Three abstracts, including one oral presentation for GLPG5101 in relapsed/refractory non-Hodgkin lymphoma, and a company showcase, will spotlight our cutting-e...
Galapagos presenteert resultaten van baanbrekende innovatie in kankerc...
Galapagos presenteert resultaten van baanbrekende innovatie in kankerceltherapie op ASH 2024 Nieuwe fase 1/2 resultaten ondersteunen het potentieel van onze CAR T-celtherapiekandidaten, GLPG5101 en GLPG5201, om tegemoet te komen aan de onvervulde behoeften bij patiënten met een slechte prognose. Ons innovatieve gedecentraliseerde celtherapieproductieplatform levert verse, fitte cellen binnen een mediane vein-to-vein tijd van zeven dagen, met een bemoedigende impact op de resultaten voor patiënten. Drie abstracts, waaronder een mondelinge presentatie voor GLPG5101 bij recidief/refractair non...
Progress on share buyback programme
Progress on share buyback programme Progress on share buyback programme ING announced today that, as part of our €2.0 billion share buyback programme announced on 31 October 2024, in total 4,016,274 shares were repurchased during the week of 31 October 2024 up to and including 1 November 2024. In line with the purpose of the programme to reduce the share capital of ING, the ordinary shares were repurchased at an average price of €15.64 for a total consideration of €62,798,086.93. To date approximately 3.14% of the maximum total value of the share buyback programme has been completed. F...
- ING Helpdesk
Benelux Morning Notes
Ageas: More bidders for ESURE UK ASR: Completion of KNAB sale, starting extra SBB D'Ieteren: Holding financing more costly, 2024 guidance (excluding financing) reassures Ebusco: Released from obligation to deliver 76 buses PostNL: 3Q24 below, FY24 outlook down, mail weak, parcels stronger; CEO steps down Sif Group: Preview - getting ready for 2025 Staffing: US temp volume weaker in October, Aug/Sep revised down, NFP jobs miss
- Ahmed Ben Salem
- Emmanuel Matot
- Ahmed Ben Salem
- Emmanuel Matot
- Cor Kluis
ING Group : Q3 Net interest income less by treasury volatility and Oth...
>3Q24 NII less by treasury volatility and Other income better - The 3Q24 underlying net interest income (NII) was below our expectations by volatile Treasury results. We reduced our estimated underlying NII for FY24 and FY25 somewhat. The Q3 expenses were in line with expectations and will continue to grow mid-single digit in 2025. End Q3 the pro forma CET1 ratio was 13.5% in line with our expectations, and with one year of SBB’s they can bring their CET1 ratio down t...
- Jacob Mekhael
- Emira Sagaama
- Michael B. Schäfer
SOP SOPRA STERIA GROUP SA
TFI TELEVISION FRANCAISE 1 SA
VETO VETOQUINOL SA
LSS LECTRA SA
EBRO EBRO FOODS SA
MBB MBB INDUSTRIES SE
G24 SCOUT24 AG
ELIS ELIS SA
MAREL MAREL HF.
AIXA AIXTRON SE
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
ROYAL VOPAK NV
DLG DE'LONGHI S.P.A.
FDR FLUIDRA S.A.
MELE MELEXIS NV
SPIE SPIE SA
GLPG GALAPAGOS NV
IDR INDRA SISTEMAS S.A. CLASS A
UNI UNICAJA BANCO S.A.
DUFN DUFRY AG
RUI RUBIS SCA
ALD ALD SA
BFSA BEFESA SA
VOS VOSSLOH AG
WAVE WAVESTONE SA
CLA CLARANOVA SE
ZEL PHARMA MAR SA
AML ASTON MARTIN LAGONDA GLOBAL HOLDINGS
TE TECHNIP ENERGIES NV
FPE3 FUCHS PETROLUB SE
STM STABILUS SE
FLOW FLOW TRADERS LTD
PLX PLUXEE NV
- Emira Sagaama
- Michael B. Schäfer
SOP SOPRA STERIA GROUP SA
TFI TELEVISION FRANCAISE 1 SA
VETO VETOQUINOL SA
LSS LECTRA SA
EBRO EBRO FOODS SA
MBB MBB INDUSTRIES SE
G24 SCOUT24 AG
ELIS ELIS SA
MAREL MAREL HF.
AIXA AIXTRON SE
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
ROYAL VOPAK NV
DLG DE'LONGHI S.P.A.
FDR FLUIDRA S.A.
MELE MELEXIS NV
SPIE SPIE SA
GLPG GALAPAGOS NV
IDR INDRA SISTEMAS S.A. CLASS A
UNI UNICAJA BANCO S.A.
DUFN DUFRY AG
RUI RUBIS SCA
ALD ALD SA
BFSA BEFESA SA
VOS VOSSLOH AG
WAVE WAVESTONE SA
CLA CLARANOVA SE
ZEL PHARMA MAR SA
AML ASTON MARTIN LAGONDA GLOBAL HOLDINGS
TE TECHNIP ENERGIES NV
FPE3 FUCHS PETROLUB SE
STM STABILUS SE
FLOW FLOW TRADERS LTD
PLX PLUXEE NV
- Bruno Cavalier
- Emira Sagaama
- Louis Boujard
- CFA
- Philippe Ourpatian
DHL DHL GROUP
AXA AXA
AKRBP AKER BP ASA
LUFTHANSA DEUTSCHE LUFTHANSA AKTIENGESELLSCHAFT
FP TOTAL SE
UBI UBISOFT ENTERTAINMENT SA
JMT JERONIMO MARTINS SGPS S.A.
SU SCHNEIDER ELECTRIC SE
AMUN AMUNDI SA
ELE ENDESA S.A.
GEBN GEBERIT AG
ORSTED ORSTED
NXT NEXT PLC
AIR AIRBUS SE
VOW3 VOLKSWAGEN AG PREF
CAP CAPGEMINI SE
AMP AMPLIFON S.P.A.
01913 PRADA S.P.A.
REP REPSOL SA
GAS NATURGY ENERGY GROUP S.A.
ARCAD ARCADIS NV
KGX KION GROUP AG
MAP MAPFRE SA
SKF B SKF AB CLASS B
PRY PRYSMIAN S.P.A.
WLN WORLDLINE SA
INGA ING GROEP NV
ABI ANHEUSER-BUSCH INBEV SA/NV
SIE SIEMENS AG
ARGX ARGEN-X SE
STM STMICROELECTRONICS NV
KBX KNORR-BREMSE AG
STLA STELLANTIS N.V.
SHEL SHELL PLC
DSFIR KONINKLIJKE DSM N.V.
- Bruno Cavalier
- Emira Sagaama
- Louis Boujard
- CFA
- Philippe Ourpatian
DHL DHL GROUP
AXA AXA
AKRBP AKER BP ASA
LUFTHANSA DEUTSCHE LUFTHANSA AKTIENGESELLSCHAFT
FP TOTAL SE
UBI UBISOFT ENTERTAINMENT SA
JMT JERONIMO MARTINS SGPS S.A.
SU SCHNEIDER ELECTRIC SE
AMUN AMUNDI SA
ELE ENDESA S.A.
GEBN GEBERIT AG
ORSTED ORSTED
NXT NEXT PLC
AIR AIRBUS SE
VOW3 VOLKSWAGEN AG PREF
CAP CAPGEMINI SE
AMP AMPLIFON S.P.A.
01913 PRADA S.P.A.
REP REPSOL SA
GAS NATURGY ENERGY GROUP S.A.
ARCAD ARCADIS NV
FDR FLUIDRA S.A.
KGX KION GROUP AG
MAP MAPFRE SA
SKF B SKF AB CLASS B
PRY PRYSMIAN S.P.A.
WLN WORLDLINE SA
INGA ING GROEP NV
ABI ANHEUSER-BUSCH INBEV SA/NV
SIE SIEMENS AG
ARGX ARGEN-X SE
STM STMICROELECTRONICS NV
KBX KNORR-BREMSE AG
STLA STELLANTIS N.V.
SHEL SHELL PLC
DSFIR KONINKLIJKE DSM N.V.
- Cor Kluis
ING Group : Net interest income less than expected by treasury in Q3, ...
>Conclusion: Q3 NII less than expected by treasury, rest in line - For Q3 the net interest income was less than expected by adverse treasury results, so that the consensus has to reduce their underlying FY24 NII somewhat. The other recurring P&L items were in line with expectations like commission income and expenses. No change in our view on ING Group, Neutral.Q3 net interest income below expectations, NII consensus FY24 too high - In 3Q24 net intere...
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