At the Paris Air Show, in line with expectations, sales momentum turned in Airbus' favour (248 firm orders out of a total of 381), underlining once again the strength of demand. The consensus around greater resilience in the supply chain and a visible acceleration on the aftermarket were the good surprises of the show. In this context, the civil segment presents an attractive profile and we maintain our preference for Rolls-Royce (Outperform - target price at 1,000p) and Airbus (Outperform – tar...
Au salon du Bourget, conformément aux attentes, la dynamique commerciale a tourné à l’avantage d’Airbus (248 commandes fermes sur un total de 381), soulignant encore une fois la vigueur de la demande. Le consensus autour d’une meilleure résilience de la chaine fournisseurs et une accélération visible de l’après-vente sont les bonnes surprises du salon. Dans ce contexte, le segment civil présente un profil attractif et nous maintenons ainsi notre préférence pour Rolls-Royce (Surperformance – OC à...
We take a look at the broad developments in euro-denominated AT1 markets. So far this year the tight trading levels have reflected as banks continuing to remain very active in primary markets. With the uncertain geopolitical landscape, we would remain selective on issuers and in terms of bonds.
NEWS SUMMARY: CAIXABANK, ENCE, FERROVIAL, NATURGY, TELEFÓNICA, VISCOFAN. Stock markets try to climb above highs Despite the absence of good macroeconomic data last week, stock markets ended with gains, fuelled by the US (the S&P500 rose around +1.7%) and by the better employment data at the end of the week. In the STOXX 600, the best-performing sectors last weekk were Technology and Pharma, whereas Autos and Media ended with the biggest drops. On the macro side, in the euro zone, the 1Q’25 GDP ...
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