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Research Department
  • Research Department

INFORME DIARIO 29 ENERO + RDOS. ESPAÑA Y EUROPA 4T’25. PREVIEWS (ANÁLI...

COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: AEDAS HOMES, NATURGY, NEINOR HOMES. EUROPA: ING, NOKIA, SANOFI, SAP. Incluido en el informe diario de hoy, y durante toda la campaña de resultados, incorporamos al final una presentación con los resultados destacados en positivo y negativo y previews de Rdos. 4T’25 que se publicarán en España y Europa en los próximos días. El lujo arrastra a Europa Caídas en las bolsas europeas tras la mala acogida de Rdos de LVMH y antes de la comparecencia de J...

Research Department
  • Research Department

IBERIAN DAILY 29 JANUARY + 4Q’25 RESULTS. PREVIEWS (ANÁLISIS BANCO SAB...

NEWS SUMMARY: AEDAS HOMES, NATURGY, NEINOR HOMES. 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 4Q’25 results to be released over the coming days in Spain. Luxury drags down European markets European stock markets fell after the poor reception of LVMH’s results and before J. Powell’s appearance before the Fed, which brought no big surprises. In the STOXX 600, Real Estate and ...

 PRESS RELEASE

Neinor Homes receives CNMV authorisation to launch the mandatory tende...

Neinor Homes receives CNMV authorisation to launch the mandatory tender offer for 100% of AEDAS’s share capital at €24.00 per share The mandatory tender offer is launched as a consequence of Neinor successfully securing a 79.20% controlling stake in AEDAS through the voluntary tender offer completed in DecemberThe offer price of €24.00 per share, which has the consideration of an equitable price, represents a 12.5% premium over the price of the voluntary tender offerThe acceptance period of the mandatory tender offer will run from 30 January to 27 February, both dates inclusiveThis step com...

 PRESS RELEASE

Neinor Homes completes a transformational year, delivering on its FY25...

Neinor Homes completes a transformational year, delivering on its FY25 guidance and positioning for further growth Neinor Homes completes a transformational year, delivering on its FY25 guidance and positioning for further growth In a FY25 trading update, Neinor confirms it has delivered c.2,900 units with Total Revenues and Adj. EBITDA at the higher-end of its guidance At the Net Income level, Neinor will report a beat to its targets due to the positive impact from the acquisition of 79.2% stake in AEDAS HomesIn 2025, commercialization momentum remained strong, with over +2,800 units ...

Florent Laroche-Joubert ... (+4)
  • Florent Laroche-Joubert
  • Manuel Martin
  • CEFA
  • CREA
Research Department
  • Research Department

IBERIAN DAILY 20 JANUARY + 4Q’25 RESULTS. HIGHLIGHTS AND REST OF PREVI...

NEWS SUMMARY: NATURGY, NEINOR HOMES. 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 4Q’25 results to be released over the coming days in Spain. Back to the trade war European stock markets saw profit taking against the backdrop of Trump’s tariff threats to Denmark, Sweden, France, Germany, the Netherlands and Finland, along with the UK and Norway. In the STOXX 600, the best-pe...

Research Department
  • Research Department

INFORME DIARIO 20 ENERO + RDOS. ESPAÑA 4T’25. IDEAS DESTACADAS Y PREVI...

COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: NATURGY, NEINOR HOMES. EUROPA: LVMH, PERNOD RICARD. Incluido en el informe diario de hoy, y durante toda la campaña de resultados, incorporamos al final una presentación con los resultados destacados en positivo y negativo y previews de Rdos. 4T’25 que se publicarán en España y Europa en los próximos días. De nuevo, la guerra comercial Toma de beneficios en los mercados europeos con el pretexto de la amenaza arancelaria de D. Trump a Dinamarca, S...

Florent Laroche-Joubert ... (+2)
  • Florent Laroche-Joubert
  • Roy Külter

ODDO : Nos top picks pour 2026, la 2e année d’un nouveau cycle

La stabilisation des taux d’intérêt et de l’inflation devrait créer un climat plus favorable à l’investissement et permettre aux sociétés immobilières de poursuivre la mise en œuvre de leur feuille de route tout en faisant preuve de prudence. Dans ce contexte, le commerce et la logistique nous semblent les mieux positionnés et nous privilégions CTP, Merlin Properties, Shurgard, URW, VGP comme les plus à même d’exécuter leur stratégie de croissance. Nous relevons notre opinion à Surperformance su...

Florent Laroche-Joubert ... (+2)
  • Florent Laroche-Joubert
  • Roy Külter

ODDO : Our Top Picks for 2026, the second year of a new cycle

With stabilising interest rates and inflation creating a more favourable climate for investment, the stocks in our coverage universe should be able to continue to implement their roadmaps, while remaining cautious. On this basis, we think retail and logistics are the best positioned, and see CTP, Merlin Properties, Shurgard, URW and VGP as the best placed to execute their growth strategies. We are upgrading WDP, Safestore and Instone, to Outperform, downgrading Big Yellow, Colonial-SFL, INEA, L...

Roy Külter ... (+2)
  • Roy Külter
  • Steven Boumans
Roy Külter ... (+2)
  • Roy Külter
  • Steven Boumans
Roy Külter ... (+2)
  • Roy Külter
  • Steven Boumans
Roy Külter ... (+2)
  • Roy Külter
  • Steven Boumans
Carole Braudeau
  • Carole Braudeau

Credit Morning 01/12/2026

Teva: performance in line with 2025 guidance, additional guidance for 2026 and 2030|Viridien: FY 2025 update|

Carole Braudeau
  • Carole Braudeau

Morning Crédit 12/01/2026

Teva : performance conforme aux objectifs en 2025, nouvelles guidances pour 2026 et 2030|Viridien: FY 2025 update|

Bruno Cavalier ... (+2)
  • Bruno Cavalier
  • Stephane Houri
AKE ARKEMA
SCHP SECHE ENVIRONNEMENT
ELIOR ELIOR GROUP SA
CLN CLARIANT AG
ADP AEROPORTS DE PARIS SA
MC LVMH MOET HENNESSY LOUIS VUITTON SE
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
STF STEF
INF INFOTEL SA
UNIQA INSURANCE GROUP AG
DEC JCDECAUX SA
ITP INTERPARFUMS
EL ESSILORLUXOTTICA SA
ISS ISS A/S
BLC BASTIDE LE CONFORT MEDICAL SA
TEP TELEPERFORMANCE SE
IAG INTERNATIONAL CONSOLIDATED AIRLINES GROUP SA
BRBY BURBERRY GROUP PLC
VETO VETOQUINOL SA
MRN MERSEN SA
MTU MANITOU BF SA
LNA LNA SANTE SA
JCQ JACQUET METALS SA
CDA COMPAGNIE DES ALPES SA
MRK MERCK KGAA
KER KERING SA
VNA VONOVIA SE
RAND RANDSTAD NV
EOAN E.ON SE
TRI TRIGANO SA
CICN CICOREL HOLDING S.A.
HEI HEIDELBERGCEMENT AG
ERA ERAMET SA
EZJ EASYJET PLC
ELIS ELIS SA
01913 PRADA S.P.A.
IMPN IMPLENIA AG
SOI SOITEC SA
SUN SULZER AG
ACKB ACKERMANS & VAN HAAREN NV
ELI ELIA GROUP SA/NV
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
AMS AMADEUS IT GROUP SA CLASS A
MONC MONCLER SPA
INW INFRASTRUTTURE WIRELESS ITALIANE S.P.A.
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
COL INMOBILIARIA COLONIAL SOCIMI SA
CSM CORBION NV
WLN WORLDLINE SA
COPN COSMO PHARMACEUTICALS NV
BIM BIOMERIEUX SA
RBO ROCHE BOBOIS INTERNATIONAL SAS
KBX KNORR-BREMSE AG
FDJ LA FRANCAISE DES JEUX SA
VK VALLOUREC SA
SFQ SAF-HOLLAND SE
BAR BARCO NV
FAST FASTNED
OVH OVH GROUPE
ZGN ERMENEGILDO ZEGNA NV
SHEL SHELL PLC
DEME DEME GROUP NV
FLE PEGASUS ENTREPRENEURIAL ACQUISITION CO EURO BV
TUI TUI AG
ORP ORPEA
SUNN SUNRISE
ALHG LOUIS HACHETTE GROUP
LOUP SOCIETE L.D.C.
TKMS TKMS AG & CO. KGAA
Bruno Cavalier ... (+2)
  • Bruno Cavalier
  • Stephane Houri
AKE ARKEMA
SCHP SECHE ENVIRONNEMENT
ELIOR ELIOR GROUP SA
CLN CLARIANT AG
ADP AEROPORTS DE PARIS SA
DGE DIAGEO PLC
MC LVMH MOET HENNESSY LOUIS VUITTON SE
LISN CHOCOLADEFABRIKEN LINDT & SPRUENGLI AG
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
STF STEF
INF INFOTEL SA
UNIQA INSURANCE GROUP AG
DEC JCDECAUX SA
ITP INTERPARFUMS
EL ESSILORLUXOTTICA SA
ISS ISS A/S
BLC BASTIDE LE CONFORT MEDICAL SA
TEP TELEPERFORMANCE SE
IAG INTERNATIONAL CONSOLIDATED AIRLINES GROUP SA
BRBY BURBERRY GROUP PLC
VETO VETOQUINOL SA
MRN MERSEN SA
MTU MANITOU BF SA
LNA LNA SANTE SA
JCQ JACQUET METALS SA
CDA COMPAGNIE DES ALPES SA
MRK MERCK KGAA
KER KERING SA
VNA VONOVIA SE
RAND RANDSTAD NV
EOAN E.ON SE
TRI TRIGANO SA
CICN CICOREL HOLDING S.A.
HEI HEIDELBERGCEMENT AG
ERA ERAMET SA
EZJ EASYJET PLC
ELIS ELIS SA
01913 PRADA S.P.A.
IMPN IMPLENIA AG
SUN SULZER AG
ACKB ACKERMANS & VAN HAAREN NV
ELI ELIA GROUP SA/NV
AMS AMADEUS IT GROUP SA CLASS A
ASRNL ASR NEDERLAND NV
MONC MONCLER SPA
INW INFRASTRUTTURE WIRELESS ITALIANE S.P.A.
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
COL INMOBILIARIA COLONIAL SOCIMI SA
CSM CORBION NV
WLN WORLDLINE SA
NN NN GROUP N.V.
BIM BIOMERIEUX SA
ARGX ARGEN-X SE
RBO ROCHE BOBOIS INTERNATIONAL SAS
KBX KNORR-BREMSE AG
FDJ LA FRANCAISE DES JEUX SA
VK VALLOUREC SA
SFQ SAF-HOLLAND SE
BAR BARCO NV
FAST FASTNED
OVH OVH GROUPE
ZGN ERMENEGILDO ZEGNA NV
SHEL SHELL PLC
DEME DEME GROUP NV
FLE PEGASUS ENTREPRENEURIAL ACQUISITION CO EURO BV
TUI TUI AG
ORP ORPEA
ALHG LOUIS HACHETTE GROUP
LOUP SOCIETE L.D.C.
TKMS TKMS AG & CO. KGAA
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