reports
- Ahmed Ben Salem
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/16/2024
We have tactically downgraded the energy sector from Overweight to Neutral (excl. oil services on which we are maintaining our Overweight rating) and dropped Shell Plc from our Large Caps list. The IEA report has accelerated the downswing for the energy sector, which could continue in the days ahead. June will be a better month to come back to the sector. - ...
UBI UBISOFT ENTERTAINMENT SA
EQNR EQUINOR ASA
GALP GALP ENERGIA SGPS SA CLASS B
AAL ANGLO AMERICAN PLC
GBF BILFINGER SE
ALV ALLIANZ SE
KBC KBC GROUP N.V.
CPG COMPASS GROUP PLC
BRBY BURBERRY GROUP PLC
RF EURAZEO SA
VOE VOESTALPINE AG
EOAN E.ON SE
ENI ENI S.P.A.
RWE RWE AG
EZJ EASYJET PLC
DTE DEUTSCHE TELEKOM AG
TLX TALANX AG
REP REPSOL SA
HLAG HAPAG-LLOYD AG
AD KONINKLIJKE AHOLD DELHAIZE N.V.
SIE SIEMENS AG
BP. BP P.L.C.
SHEL SHELL PLC
AGN AEGON N.V.
SYENS SYENSQO
- Marine Leleux
- Maureen Schuller
- Suvi Platerink Kosonen
- Marine Leleux
- Maureen Schuller
- Suvi Platerink Kosonen
- Ahmed Ben Salem
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 16/05/2024
Nous dégradons tactiquement à Neutre le secteur de l’énergie (hors Services Pétroliers sur lesquels nous conservons une opinion Surperformance) et faisons sortir Shell plc de notre liste Large Caps. Le rapport AIE a accéléré la baisse du secteur énergie, qui pourrait se poursuivre dans les jours qui viennent. Juin sera un meilleur mois pour revenir sur le secteur. - ...
UBI UBISOFT ENTERTAINMENT SA
EQNR EQUINOR ASA
GALP GALP ENERGIA SGPS SA CLASS B
AAL ANGLO AMERICAN PLC
GBF BILFINGER SE
ALV ALLIANZ SE
KBC KBC GROUP N.V.
CPG COMPASS GROUP PLC
BRBY BURBERRY GROUP PLC
RF EURAZEO SA
VOE VOESTALPINE AG
EOAN E.ON SE
ENI ENI S.P.A.
RWE RWE AG
EZJ EASYJET PLC
DTE DEUTSCHE TELEKOM AG
TLX TALANX AG
REP REPSOL SA
HLAG HAPAG-LLOYD AG
AD KONINKLIJKE AHOLD DELHAIZE N.V.
SIE SIEMENS AG
BP. BP P.L.C.
SHEL SHELL PLC
AGN AEGON N.V.
SYENS SYENSQO
- Cor Kluis
KBC : Q1 results marginally better vs consensus, NII going well
>Conclusion: Q1 results marginally better vs consensus - The results were marginally better than expected with a marginally better NII than consensus and marginally better cost (for us it was in line. The Solvency was also in line. We heard that some analyst had some cautious view in NII (which was better than consensus) and impairments (which was well better than consensus) before the figures so this might be some release for these. We keep our Outperform recommendat...
- ING Helpdesk
Benelux Morning Notes
AEGON: 1Q24, new unexpected SBB, underlying OCG better, strong ratios across. Belgian telecoms: Digi to start with mobile. CFE: Preview - forecasting revenue numbers… D'Ieteren: Belron US peer Boyd 1Q24 below consensus, warns on 2Q24 growth. Econocom: Joins consortium formed by Onepoint and Butler Industries to acquire Atos. KBC: 1Q24 better across, special dividend, capital distribution pushed back to 1H25. Syensqo: 1Q24 a touch better, positive earnings momentum confirmed. Umicore:...
- Benoit Valleaux
- Roland Pfaender
- MBA
- CFA
- CCRA
Talanx AG : Q1 2024 results reflect a strong start to the year
>Net profit of € 572m came in 23% above consensus estimate - Talanx reported a very strong start to the year and reported € 572m group net profit which compares to € 466m consensus and our € 452m estimate. The beat was driven by primary insurance operations and attributable to the segments Industrial Lines insurance and Retail International. A higher-than-expected investment income (RoI of 3.4%) was part of the beat. Group Solvency came in with a strong ratio of 217% ...
KBC Group: First-quarter result of 506 million euros
KBC Group: First-quarter result of 506 million euros ‘We recorded a net profit of 506 million euros in the first quarter of 2024. Compared to the result of the previous quarter, our total income benefited from several factors, including higher net interest income, net fee and commission income and insurance revenues, though these items were partly offset by lower levels of dividend income and trading & fair value income. Costs were up, since the bulk of the bank and insurance taxes for the full year are recorded – as usual – in the first quarter of the year. Disregarding bank and insurance...
KBC Groupe: Bénéfice de 506 millions d'euros pour le premier trimestr...
KBC Groupe: Bénéfice de 506 millions d'euros pour le premier trimestre ‘Nous avons enregistré un bénéfice net de 506 millions d’euros au premier trimestre 2024. Par rapport au résultat du trimestre précédent, nos revenus totaux ont bénéficié de plusieurs facteurs, notamment la hausse des revenus nets d’intérêts, des revenus nets de commissions et des revenus des activités d’assurance, bien que ceux-ci aient été partiellement compensés par la baisse des revenus de dividendes et des revenus à la juste valeur et liés au trading. Les coûts se sont inscrits en hausse, dans la mesure où l’essent...
KBC Groep: Resultaat eerste kwartaal van 506 miljoen euro
KBC Groep: Resultaat eerste kwartaal van 506 miljoen euro "We boekten een nettowinst van 506 miljoen euro in het eerste kwartaal van 2024. Vergeleken met het resultaat van het vorige kwartaal profiteerden onze totale opbrengsten van verschillende factoren, waaronder hogere nettorente-inkomsten, nettoprovisie-inkomsten en verzekeringsinkomsten, hoewel die elementen deels teniet werden gedaan door lagere dividendinkomsten en een lager trading- en reëlewaarderesultaat. De kosten stegen, omdat het grootste deel van de bank- en verzekeringsheffingen voor het hele jaar – zoals gebruikelijk – in h...
Correction: ABN AMRO Bank posts net profit of EUR 674 million in Q1 20...
Correction: ABN AMRO Bank posts net profit of EUR 674 million in Q1 2024 [Replacement of outdated attachement Q-report with minor non-material changes] ABN AMRO Bank posts net profit of EUR 674 million in Q1 2024 Q1 - Key messages of the quarter Very strong result with a net profit of EUR 674 million, driven by net interest income, fee income and low cost of riskBusiness momentum remained good; our mortgage loan book grew by EUR 0.8 billion and our corporate loan book by EUR 0.3 billion. We were market leader in mortgages in Q1Continued strong net interest income as we continued to benef...
Correction: ABN AMRO rapporteert nettowinst van EUR 674 miljoen in Q1 ...
Correction: ABN AMRO rapporteert nettowinst van EUR 674 miljoen in Q1 2024 [Vervanging van oude versie bijlage Q rapport met minimale aanpassingen] ABN AMRO rapporteert nettowinst van EUR 674 miljoen in Q1 2024 Q1 - Key messages over het kwartaal Zeer sterk resultaat met een nettowinst van EUR 674 miljoen, gedreven door de netto rentebaten, inkomsten uit provisies, en lage risicokostenBusiness momentum bleef goed; onze hypotheekportefeuille groeide met EUR 0,8 miljard en onze zakelijke kredieten met EUR 0,3 miljard. We waren in Q1 de marktleider in hypothekenAanhoudend sterke netto ren...
Novo Nordisk AS: 1 director
A director at Novo Nordisk AS sold 9,000 shares at 915.500DKK and the significance rating of the trade was 100/100. 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...
- Marine Leleux
- Maureen Schuller
- Suvi Platerink Kosonen
- Marine Leleux
- Maureen Schuller
- Suvi Platerink Kosonen
- Julian Dobrovolschi
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/15/2024
With 71% of the companies in the Stoxx 600 having released their Q1 2024 results, the picture at this stage is encouraging, with 58% of positive surprises on results. Materials and financials were the sectors that delivered the most positive surprises. If the Q4 2023 earnings season put an end to a downward revision of EPS, the Q1 2024 earnings season has triggered the start of an upward EPS revision, more markedly in the US than in Europe. In terms of sectors, re-rating effects conti...
VIE VEOLIA ENVIRONNEMENT SA
TKA THYSSENKRUPP AG
FGR EIFFAGE SA
HNR1 HANNOVER RUECK SE
GBF BILFINGER SE
CPG COMPASS GROUP PLC
MRK MERCK KGAA
EOAN E.ON SE
ALO ALSTOM SA
GRF GRIFOLS S.A. CLASS A
RWE RWE AG
LEG LEG IMMOBILIEN AG
ASSA B ASSA ABLOY AB CLASS B
ACS ACTIVIDADES DE CONSTRUCCION Y SERVICIOS SA
WLN WORLDLINE SA
GRF.P GRIFOLS S.A. PREF CLASS B
HLAG HAPAG-LLOYD AG
REY REPLY S.P.A.
NEXI NEXI S.P.A.
AZE AZELIS GROUP NV
NCH2 THYSSENKRUPP NUCERA AG & CO.
- Julian Dobrovolschi
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 15/05/2024
Alors que 71% des sociétés du Stoxx 600 ont publié, le bilan est à ce stade positif avec 58% de surprises positives sur les résultats. Matériaux et Financières sont les secteurs ayant apporté le plus de surprises positives. Le consensus – qui avait stoppé sa baisse durant les publications T4-23, est désormais reparti à la hausse, plus nettement aux Etats-Unis qu’en Europe. Sectoriellement, les effets de rerating ont continué de dominer les révisions de BPA. - ...
VIE VEOLIA ENVIRONNEMENT SA
TKA THYSSENKRUPP AG
FGR EIFFAGE SA
HNR1 HANNOVER RUECK SE
GBF BILFINGER SE
CPG COMPASS GROUP PLC
MRK MERCK KGAA
EOAN E.ON SE
ALO ALSTOM SA
GRF GRIFOLS S.A. CLASS A
RWE RWE AG
LEG LEG IMMOBILIEN AG
ASSA B ASSA ABLOY AB CLASS B
ACS ACTIVIDADES DE CONSTRUCCION Y SERVICIOS SA
WLN WORLDLINE SA
GRF.P GRIFOLS S.A. PREF CLASS B
HLAG HAPAG-LLOYD AG
REY REPLY S.P.A.
NEXI NEXI S.P.A.
AZE AZELIS GROUP NV
NCH2 THYSSENKRUPP NUCERA AG & CO.
- ING Helpdesk
Benelux Morning Notes
Aalberts: Preview - steady in difficult markets. ABN AMRO: 1Q24 overshadowed by weaker capital, even if a strong set. AEGON: 1Q24 Preview (trading update). Alfen: Preview - clarity on one-off Pacto costs crucial. B&S Group: Bolt-on acquisition in Personal Care. Belgian telcos: BIPT notes that fibre cooperation negotiations not ready by 15 May. EVS: 1Q24 preview. Euronext: Another record, with Beats by Boujnah. Montea: €12m acquisition in the Port of Ghent. Staffing: Dutch Perio...
PROX PROXIMUS SA DE DROIT PUBLIC
ABN ABN AMRO BANK NV DEPOSITARY RECEIPTS
EVS EVS BROADCAST EQUIPMENT SA
RAND RANDSTAD NV
MONT MONTEA SCA
AALB AALBERTS N.V.
BRNL BRUNEL INTERNATIONAL N.V.
TWEKA TKH GROUP N.V. CERT
OBEL ORANGE BELGIUM SA
BSGR B&S GROUP S.A.
ALFEN ALFEN NV
AGN AEGON N.V.
- Jacob Mekhael
- Lynn Hautekeete
- Thomas Couvreur
- Wim Lewi
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.