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Chris Hoare
  • Chris Hoare

Global EM Telcos Why are governments allowing mobile price hikes?

We note EM Governments & regulators appear to have become much more relaxed about mobile ARPU growing above inflation relative to the recent past. Why is this? This note gives one possible explanation.

Javier Esteban
  • Javier Esteban

INFORME SECTORIAL BANCOS ESPAÑA/EUROPA: EL MERCADO YA DESCUENTA RÉCORD...

El mercado ya descuenta récord de beneficios 2026. En los últimos seis meses el sector ha subido +17% (vs +9% IBEX y +4% ES 50) con una revisión de estimaciones a medio plazo de +11%.

Research Department
  • Research Department

IBERIAN DAILY 24 SEPTEMBER (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: INDRA, REPSOL, TELEFÓNICA. Transitional session brings gains European stock markets rallied, spurred by optimism on the positives of AI and the expected greater economic dynamism. In the STOXX 600, the gains were led by Autos and Consumer Goods, whereas defensive sectors like Pharma and Food suffered the biggest drops. On the macro side, in the euro zone the preliminary manufacturing PMI for September fell into a zone compatible with falling activity levels (49.5), while the servi...

Research Department
  • Research Department

INFORME DIARIO 24 SEPTIEMBRE (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: INDRA, REPSOL, TELEFÓNICA. Ganancias en una sesión de transición Rebote en las bolsas europeas aupadas por el optimismo sobre las bondades de la IA y el esperado mayor dinamismo económico. En el STOXX 600 lideraron las subidas Autos y B. Consumo mientras que defensivos como Farma y Alimentación sufrieron las mayores correcciones. Por el lado macro, en la Eurozona el PMI manufacturero preliminar de septiembre retrocedió a terreno compatible con caí...

Carole Braudeau
  • Carole Braudeau

Morning Crédit 22/09/2025

Fitch a upgradé la note de l’Italie de BBB à BBB+ - attente d’actions similaires sur les banques|BBVA relève les termes de son offre sur Banco Sabadell|

Research Department
  • Research Department

IBERIAN DAILY 19 SEPTEMBER (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: AENA, CAF, FCC, TELEFÓNICA, VISCOFAN. The Fed spurs the markets Following the expected rate cut by the Fed, European stock markets reacted with sharp rises of more than +1.5%. The IBEX lagged behind and closed with slight losses due to the lack of technology stocks. In the STOXX 600, Technology was once again the big winner, with Utilities and Basic Materials falling the most. On the macro side, in the US the Philadelphia Fed manufacturing index rose sharply in August. Weekly jobl...

Research Department
  • Research Department

INFORME DIARIO 19 SEPTIEMBRE (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: AENA, CAF, FCC, TELEFÓNICA, VISCOFAN. EUROPA: ESSILORLUXOTTICA. La Fed anima las bolsas Tras la esperada bajada de tipos por parte de la Fed, las bolsas europeas reaccionaron con fuertes avances por encima del +1,5%. El Ibex se quedó rezagado y cerró con tímidas pérdidas por la ausencia de representación tecnológica. Así, en el STOXX 600 Tecnología volvió a liderar con fuerza los avances frente a Utilities y R. Básicos que fueron los que más cayero...

Carole Braudeau
  • Carole Braudeau

Credit Morning 09/18/2025

Thyssenkrupp Elevator: KONE is reportedly considering a takeover bid|Verisure launches its IPO and could become a Ba2/BB issuer|Downgrade of rating from Ba3 to B1 by Moody’s|Salt plans to raise € 680m of secured debt to acquire 45% of Monaco Telecom and refinancer the 2026 notes|

Carole Braudeau
  • Carole Braudeau

Morning Crédit 18/09/2025

Thyssenkrupp Elevator : KONE envisagerait une offre de rachat|Verisure lance son IPO et pourrait devenir un émetteur Ba2/BB|Downgrade de la note de Ba3 à B1 par Moody’s|Salt compte lever 680 m EUR de dette secured pour acquérir 45% de Monaco Telecom et refinancer les obligations 2026|

Emira Sagaama ... (+3)
  • Emira Sagaama
  • Hela Zarrouk
  • Oliver Metzger
Konrad Zomer
  • Konrad Zomer
Emira Sagaama ... (+3)
  • Emira Sagaama
  • Hela Zarrouk
  • Oliver Metzger
Konrad Zomer
  • Konrad Zomer
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