reports
- Rafael Bonardell
VISCOFAN: PRE 3T’24 - POTENCIAL REVISIÓN DE OBJETIVOS’24 (ANÁLISIS BAN...
Pre Rdos. 3T'24: potencial revisión a la baja de objetivos'24. SOBREPONDERAR A pesar de que se esperaba una mejora operativa en el 3T’24 tras un 1S’24 débil, creemos que no va a ser suficiente para alcanzar los objetivos’24. Así, todo apunta a que la evolución de APAC va a seguir siendo discreta, así como la debilidad en los precios del pool eléctrico. Esperamos unos ingresos 3T’24 de c. 310 M euros (312 consenso) con una mejora del EBITDA de c. +11% (70 M euros vs 73 consenso) lo que implica un...
- Research Department
IBERIAN DAILY 09 OCTOBER (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: CAF, CAIXABANK, VISCOFAN. Lacking drivers In a session of few macro references, European stock markets managed to reel in the losses from the opening bell with the boost from the US and the falling oil prices. The IBEX, which closed with slight gains, was once again the best-performing index in the euro zone. In the STOXX 600, most of the sectors closed with losses (15/20), led by Basic Materials and Consumer Goods, whereas the defensive Telecoms and Utilities were the best perfor...
- Research Department
INFORME DIARIO 09 0CTUBRE (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: CAF, CAIXABANK, VISCOFAN. EUROPA: PERNOD RICARD. Sin catalizadores En una jornada de escasas referencias macro, las bolsas europeas lograron minorar las pérdidas de la apertura con el impulso de EE.UU. y el descenso en el precio del petróleo. El Ibex, que cerró con ligeras ganancias, volvió a ser el mejor índice de la Eurozona. Así, en el STOXX 600, la mayoría de sectores cerraron con pérdidas (15/20), lideradas por R. Básicos y B. de Consumo mient...
- Nicolas David
ODDO : Iberian Forum – Day 2
We hosted our 4th ODDO BHF Iberian Forum on the 1st and 2nd of October 2024, virtually. In total, 63 companies were present. In the following note, we provide some initial feedback from the companies on day 2. - >ACS (=): good operating momentum maintained, Abertis and its dividends on the front page - Atresmedia (=): Q3 should be challenging but outlook reiterated - Befesa (=): zinc prices held up well, offsetting the negative impact of maintenance on Q3 volumes - CaixaBank ...
REE RED ELECTRICA CORP. SA
ELE ENDESA S.A.
CIE CIE AUTOMOTIVE S.A.
NVG NAVIGATOR COMPANY SA
ACS ACTIVIDADES DE CONSTRUCCION Y SERVICIOS SA
A3TV ATRESMEDIA CORPORACION DE MEDIOS DE COMUNICACION SA
MAP MAPFRE SA
ENC ENCE ENERGIA Y CELULOSA SA
CABK CAIXABANK SA
IBE IBERDROLA SA
COL INMOBILIARIA COLONIAL SOCIMI SA
SAN BANCO SANTANDER S.A.
UNI UNICAJA BANCO S.A.
HOME NEINOR HOMES SA
BFSA BEFESA SA
GRE GRENERGY RENOVABLES
FER FERROVIAL SA
- Nicolas David
ODDO : Iberian Forum – Day 1
We host our 4th ODDO BHF Iberian Forum on the 1st and 2nd of October 2024 virtually. In total, 63 companies will be presenting. In the following note, we provide some initial feedback of the company on day 1. - >Acciona (=) : Confidence in Non-energy business steady, Acciona Energía stake sparks intense scrutiny - Acciona Energia (=/-) : A trajectory beyond 2024 to be explained at the 9 months results - Acerinox (=/-): Softness persists in Europe and US - Amadeus (=/+): sol...
ACX ACERINOX SA
REP REPSOL SA
COR CORTICEIRA AMORIM SGPS SA
BKT BANKINTER SA
ANA ACCIONA SA
FDR FLUIDRA S.A.
AMS AMADEUS IT GROUP SA CLASS A
ENG ENAGAS SA
GCO GRUPO CATALANA OCCIDENTE S.A.
CABK CAIXABANK SA
IDR INDRA SISTEMAS S.A. CLASS A
BBVA BANCO BILBAO VIZCAYA ARGENTARIA S.A.
CAF CONSTRUCCIONES Y AUXILIAR DE FERROCARRILES S.A.
ANE CORPORACION ACCIONA ENERGIAS RENOVABLES SA
ENER GRUPO ECOENER S.A.
- Research Department
INFORME DIARIO 20 SEPTIEMBRE (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: GRIFOLS, MINOR HOTELS, VISCOFAN. EUROPA: MERCEDES BENZ GROUP, VOLKSWAGEN El mercado, y sobre todo los cíclicos, celebran la decisión de la Fed Las bolsas europeas subieron con fuerza el jueves a pesar de la apreciación del euro, con la confianza de que la Fed logrará un aterrizaje “suave” de la economía estadounidense. En el STOXX 600 los mejores fueron cíclicos muy castigados recientemente como Tecnología y R. Básicos mientras que Utilities y Telec...
- Research Department
IBERIAN DAILY 20 SEPTEMBER (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: GRIFOLS, MINOR HOTELS, VISCOFAN. The market and mainly cyclical stocks welcome the Fed’s decision European stock markets climbed significantly yesterday despite the appreciation of the euro, remaining confident that the Fed will enable a soft landing of the US economy. Thus, in the STOXX 600 cyclical stocks severely and recently hit such as Technology and Basic Resources were the best performers whereas Utilities and Telecoms posted the biggest drops. On the macro side, in the UK...
- Research Department
IBERIAN DAILY 12 SEPTEMBER (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: AEDAS HOMES, CAF, CHANGES IBEX, NEINOR HOMES. IBEX close to 11,300 points It was a positive session in Europe, with the US inflation data showing no surprises and where the IBEX led the gains following Inditex’s solid results. Thus, in the STOXX 600 Retail (driven by Inditex’s results) and Technology posted the biggest gains, whereas Real Estate (the second-best sector over the past three months) and Consumer Goods were the worst performers. On the macro side, in the US August’s g...
- Research Department
IBERIAN DAILY 06 SEPTEMBER (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: ENCE, PUIG BRANDS. All eyes on the US job market European stock markets saw slight corrections, with the market dynamics remaining practically unchanged. Thus, the STOXX 600 saw significant dispersion, with Utilities and Real Estate being the best-performing sectors whereas Consumer Goods (the luxury segment remains highly punished by China) and Pharma posted the biggest drops. On the macro side, in the euro zone, retail sales rose in line with expectations. In France, E. Macron a...
- Research Department
INFORME DIARIO 06 SEPTIEMBRE (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ENCE. A la espera de nuevos datos del mercado laboral estadounidense Ligeras caídas en la bolsa Europa y sin grandes cambios en la dinámica del mercado. Mucha dispersión en el STOXX 600 donde los mejores sectores fueron Utilities e Inmobiliario mientras que B. Consumo (el lujo sigue muy castigada por China) y Farma terminaron con las mayores correcciones. Por el lado macro, en la Eurozona las ventas al por menor avanzaron en línea con lo previsto. ...
- Arancha Pineiro
PERNOD RICARD: RDOS. 2024 (ANÁLISIS BANCO SABADELL)
Rdos. 4T'24 vs 4T'23: Ventas: 2.661 M euros (+1,2% vs +3,7% BS(e) y +2,2% consenso); Rdos. 2024 vs 2023: Ventas: 11.598 M euros (-4,4% vs -3,9% BS(e) y -4,2% consenso); EBIT: 3.116 M euros (-6,9% vs -6,3% BS(e) y -6,7% consenso); BDI: 2.000 M euros (-14,5% vs -12,5% BS(e) y -14,1% consenso).
- Research Department
IBERIAN DAILY 29 AUGUST (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: INDRA, REPSOL. All eyes on Nvidia’s results that were not convincing in the end Europe ended with slight gains, which led the Ibex to consolidate June’s highs of 11,300 points after climbing 12 of the last 15 sessions. In the STOXX 600, Chemicals and Insurance led gains, whereas Basic Resources posted the biggest drops. On the macro side, in the euro zone, July’s M3 expanded less than expected. Car registrations grew 0.2% YoY vs. 4.3% previously. In the US, R. Bostic from the Fed ...
- Research Department
INFORME DIARIO 29 AGOSTO (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: INDRA, REPSOL. EUROPA: PERNOD RICARD. Mercados pendientes de unos resultados de Nvidia que no convencen Europa cerró la jornada con ligeros avances que llevaron al Ibex a consolidar los 11.300, máximos de junio y con subidas en 12 de las últimas 15 sesiones. En el STOXX 600 los mejores sectores fueron Químicas y Seguros mientras que R. Básicos sufrió las mayores correcciones. Por el lado macro, en la Eurozona la M3 de julio se expandió menos de lo e...
- Research Department
INFORME DIARIO 28 AGOSTO (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: SANTANDER, TALGO. EUROPA: PERNOD RICARD. Sesión de transición Jornada típica de finales de verano, con ligeras subidas en bolsa y pocas novedades desde el frente macro. En el STOXX 600 los mejores sectores fueron Hogar y Viajes&Ocio mientras que B. Consumo (por la parte del lujo) e Inmobiliario sufrieron las mayores correcciones. Por el lado macro, en Alemania el PIB final del 2T’24 confirmó el -0,1% trimestral mientras que la confianza del consumid...
- Research Department
IBERIAN DAILY 12 AUGUST (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: ALMIRALL, CAIXABANK, CELLNEX, MAPFRE. Caution remains due to risk of US recession in a highly volatile week After the week started out with sharp drops (in view of fears of a recession stemming from the US employment data the week before and the rate hike in Japan), the stock markets began to recover. However, towards the end of the week doubts returned, and on Friday, after rising slightly through mid-session, European stock markets lost almost all the ground gained during the af...
- Research Department
INFORME DIARIO 12 AGOSTO (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ALMIRALL, CELLNEX, MAPFRE. Persiste la cautela con respecto a una recesión en EE.UU. en una semana con mucha volatilidad Tras un inicio de semana con fuertes correcciones (ante el miedo a la recesión desatado por los datos de empleo americanos de la semana anterior y la subida de tipos en Japón, que llevó a deshacer operaciones de carry trade en todos los mercados), las bolsas fueron recuperándose. No obstante, hacia el final de la semana volvieron...
Ence Energia Y Celulosa SA: 1 director
A director at Ence Energia Y Celulosa SA bought 3,180,000 shares at 3.146EUR 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 t...
- Olfa Taamallah
- Yan Derocles
DHL DHL GROUP
V1S ARKEMA
LR LEGRAND SA
BMW BAYERISCHE MOTOREN WERKE AG
VIE VEOLIA ENVIRONNEMENT SA
RR. ROLLS-ROYCE HOLDINGS PLC
MT ARCELORMITTAL SA
DGE DIAGEO PLC
SU SCHNEIDER ELECTRIC SE
COV COVIVIO SA
MTX MTU AERO ENGINES AG
QIA QIAGEN NV
LSEG LONDON STOCK EXCHANGE GROUP PLC
ALV ALLIANZ SE
MRK MERCK KGAA
VNA VONOVIA SE
SAF SAFRAN S.A.
VOW3 VOLKSWAGEN AG PREF
SY1 SYMRISE AG
NEM NEMETSCHEK SE
FDR FLUIDRA S.A.
AMS AMADEUS IT GROUP SA CLASS A
TIT TELECOM ITALIA S.P.A.
PRY PRYSMIAN S.P.A.
CABK CAIXABANK SA
WLN WORLDLINE SA
CLNX CELLNEX TELECOM S.A.
ABI ANHEUSER-BUSCH INBEV SA/NV
RIO RIO TINTO PLC
BBVA BANCO BILBAO VIZCAYA ARGENTARIA S.A.
NEXI NEXI S.P.A.
JDEP JDE PEET'S NV
AZE AZELIS GROUP NV
SHEL SHELL PLC
ARM ARM HOLDINGS PLC
TEN TENARIS S.A.
SYENS SYENSQO
UN0 UNIPER SE
- Olfa Taamallah
- Yan Derocles
DHL DHL GROUP
V1S ARKEMA
LR LEGRAND SA
BMW BAYERISCHE MOTOREN WERKE AG
VIE VEOLIA ENVIRONNEMENT SA
RR. ROLLS-ROYCE HOLDINGS PLC
MT ARCELORMITTAL SA
DGE DIAGEO PLC
SU SCHNEIDER ELECTRIC SE
COV COVIVIO SA
MTX MTU AERO ENGINES AG
QIA QIAGEN NV
LSEG LONDON STOCK EXCHANGE GROUP PLC
ALV ALLIANZ SE
MRK MERCK KGAA
VNA VONOVIA SE
SAF SAFRAN S.A.
VOW3 VOLKSWAGEN AG PREF
SY1 SYMRISE AG
NEM NEMETSCHEK SE
FDR FLUIDRA S.A.
AMS AMADEUS IT GROUP SA CLASS A
TIT TELECOM ITALIA S.P.A.
PRY PRYSMIAN S.P.A.
CABK CAIXABANK SA
WLN WORLDLINE SA
CLNX CELLNEX TELECOM S.A.
ABI ANHEUSER-BUSCH INBEV SA/NV
RIO RIO TINTO PLC
BBVA BANCO BILBAO VIZCAYA ARGENTARIA S.A.
NEXI NEXI S.P.A.
JDEP JDE PEET'S NV
AZE AZELIS GROUP NV
SHEL SHELL PLC
ARM ARM HOLDINGS PLC
TEN TENARIS S.A.
SYENS SYENSQO
UN0 UNIPER SE
- Research Department
IBERIAN DAILY 01 AUGUST + 2Q’24 RESULTS. PREVIEWS (ANÁLISIS BANCO SABA...
NEWS SUMMARY: CAIXABANK, CAF, ENAGÁS, ENCE, FLUIDRA, MELIÁ HOTELS. At the end of today’s report, and during the entire results season, we will include a presentation with positive and negative results highlights and previews for the 2Q’24 results to be released over the coming days in Spain. The market expects a rate cut from the Fed in September European markets saw gains ahead of the Fed meeting. In the STOXX 600, Technology and Basic Resources were the best performing sectors, whereas Retai...
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