reports
- Carole Braudeau
- Carole Braudeau
- Carole Braudeau
- Carole Braudeau
- Research Department
IBERIAN DAILY 23 DECEMBER (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: ELECTRICITY SECTOR, IBERDROLA, TELEFÓNICA. The Ibex resists It was a session of moderate losses in Europe, with the IBEX (along with the DAX) showing the best relative performance, near highs. In the STOXX 600, the defensive sectors Food and Utilities fell the most, with the best performers being Retail and Basic Materials. On the macro side, in the UK, the final 3Q’25 GDP confirmed the preliminary 1.3% YoY. In the US, the Chicago Fed activity index fell more than expected. From t...
- Research Department
INFORME DIARIO 23 DICIEMBRE (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: IBERDROLA, SECTOR ELÉCTRICO, TELEFÓNICA. El Ibex resiste Jornada de caídas moderadas en Europa con el Ibex mostrando (junto al DAX) el mejor comportamiento relativo cerca de máximos. En el STOXX 600, los defensivos Alimentación y Utilities fueron los que más cayeron frente al mejor comportamiento relativo de Retail y R. Básicos. Por el lado macro, en R. Unido el PIB final 3T’25 confirmó el 1,3% a/a preliminar. En EE.UU. el índice de actividad de la...
Ontex Group NV: 1 director
A director at Ontex Group NV bought 5,000 shares at 4.630EUR and the significance rating of the trade was 52/100. 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 ...
- James Ratzer
Cellnex vs. Telefonica Cellnex (Buy, €34, +32%) Telefonica (Reduce, ...
On Wednesday, we published our European Telecoms Year Ahead note for 2026. In that note, we upgraded Cellnex to a Buy, as we think the market’s worst fears on growth are overdone, and we downgraded Telefonica to a Reduce, as we fear the low cashflow growth outlook is not being properly priced in. However, in that sector report, we missed out one important aspect to back up this diverging view of value and we now highlight that here.
- Research Department
IBERIAN DAILY 18 DECEMBER (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: AEDAS HOMES, AENA, AMADEUS, CIE AUTOMOTIVE, EBRO FOODS, NATURGY, NEINOR HOMES, TELEFÓNICA. Awaiting new drivers Most European indices, with the exception of peripheral markets, ended with slight corrections in a session without macroeconomic data. In the STOXX 600, almost all sectors (16/20) ended with gains, led by Basic Resources and Telecommunications vs. the bigger drops of Technology and Construction. On the macro side, in the euro zone, November’s final inflation was cut one...
- Research Department
INFORME DIARIO 18 DICIEMBRE (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: AEDAS HOMES, AENA, AMADEUS, CIE AUTOMOTIVE, EBRO FOODS, NATURGY, NEINOR HOMES, TELEFÓNICA A la espera de nuevos catalizadores Poco movimiento en Europa en una jornada descargada de datos macro que terminó con tímidas pérdidas en la mayoría de los índices salvo para la periferia. En el STOXX 600, casi todos los sectores (16/20) terminaron con ganancias, lideradas por R. Básicos y Telecomunicaciones frente a las mayores caídas de Tecnología y Construc...
- Hilde Van Boxstael
- Jacob Mekhael
- Livio Luyten
- Michiel Declercq
- Thomas Couvreur
- Wim Hoste
- Wim Lewi
- Wim Hoste
Ontex Model update post profit warning
Ontex issued a severe profit warning which implies the company now expects 4Q25 adjusted EBITDA to land at € 38-43m vs a previous expectation range of € 63-68m, with the downwards revision due to intense competition from A-brands in the baby care segment. We have reduced our adjusted EBITDA forecasts for FY25-27 by between 8-10%, but still expect FY26 EBITDA to grow by c. 12% vs our new FY25 forecast, on a combination of efficiency measures, the full contribution of new contracts and (at some po...
- Carole Braudeau
- Carole Braudeau
- Research Department
IBERIAN DAILY 12 DECEMBER (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: CELLNEX, FERROVIAL, GRUPO SANJOSE, REPSOL, TELEFÓNICA, VIDRALA. The Ibex near 17,000 points European stock markets climbed near 1% yesterday after the Fed’s rate cut and despite doubts surrounding the technology sector after the poor reception of Oracle’s results. In the STOXX 600, Construction (that rallied after being the worst-performing sector last Wednesday) and Leisure, closely followed by Banks led the gains whereas Utilities and Energy were almost the only sectors ending w...
- Research Department
INFORME DIARIO 12 DICIEMBRE (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: CELLNEX, FERROVIAL, GRUPO SANJOSE, REPSOL, TELEFÓNICA, VIDRALA. EUROPA: BNP PARIBAS. El Ibex enfila los 17.000 puntos Las bolsas europeas avanzaron ayer cerca de un 1% tras la bajada de tipos por parte de la Fed y pese a las dudas en las tecnológicas tras la mala acogida de los resultados de Oracle. En el STOXX 600, los mejores sectores fueron Construcción (rebotó tras ser el miércoles el peor sector) y Ocio seguido de cerca por los Bancos mientras...
- Felix Fischer
- Haidje Rustau
- Jayanth Kandalam
- Peter Low
- Si Yong Ng
- Tanvi Arora
- Carole Braudeau
- Carole Braudeau
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