Credit Morning 09/05/2025

Coty: S&P cuts outlook to negative, ending five years of positive rating actions|Dometic prices new bond at 5%|

Morning Crédit 05/09/2025

Coty : S&P a abaissé l’outlook à négatif mettant fin à 5 ans d’actions positives sur la note|Dometic prices new bond at 5%|

Credit Morning 09/02/2025

IAG: New bond issuance and tender offer|MPS raises Mediobanca bid by adding about €750 m cash|

Morning Crédit 02/09/2025

IAG: New bond issuance and tender offer|Renforcement de l’offre sur Mediobanca|

Munchener Ruckversicherungs-Gesellschaft AG: 1 director

A director at Munchener Ruckversicherungs-Gesellschaft AG bought 1,800 shares at 545.000EUR 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 ...

Ampeak Energy (AMP LN) - Forecast and valuation update - Corporate

Ampeak recently announced the financial close of its AW1 BESS project in South Wales. This was a significant milestone for the company, demonstrating Ampeak’s ability to develop and fund its BESS portfolio while retaining a material equity stake, in this case 75%. We have now revisited our model, incorporating the full effect of AW1 and updating our forecasts and valuation. Going forward, we look for further progress on AW1 and Ampeak’s other BESS projects, as the company continues to build out ...

IBERIAN DAILY 26 AUGUST (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: ENAGÁS. Euro STOXX 50 stays above 5,400 European stock markets closed with losses of -0.8% in a session that ended worse than it began. In the STOXX 600, most sectors (17/20) were in the red, with bond proxies like Construction and Utilities leading the way, hurt by the rise in long-term public debt curves, whereas Media and Financial Services ended with the biggest gains. On the macro side, in Germany August’s IFO rose more than expected, reaching a high over the past two years. ...

INFORME DIARIO 26 AGOSTO (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ENAGÁS. EUROPA: UNICREDIT. El Euro STOXX 50 conserva los 5.400 puntos Las bolsas europeas cerraron con caídas del -0,8% en una sesión de más a menos. En el STOXX 600 la mayoría de sectores presentaron caídas (17/20) dirigidas por bond proxies como Construcción y Utilities que se vieron perjudicados por el repunte de los tramos largos de la curva de deuda pública mientras que Media y S. Financieros se desmarcaron con las mayores subidas. Por el lado ...

IBERIAN DAILY 22 AUGUST (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: IAG, TELEFÓNICA. Markets doubtful awaiting Powell in Jackson Hole European stock markets closed better than they opened, with some indices like the FTSE 100 managing to end with slight gains, whereas the DAX and IBEX ended practically flat. In the STOXX 600, the sectors rising the most were Energy, Banks and Basic Materials, with the biggest drops coming in Media, Consumer Goods and Chemicals. On the macro side, in the euro zone August’s preliminary manufacturing PMI rose more tha...

INFORME DIARIO 22 AGOSTO (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: IAG, TELEFÓNICA. EUROPA: AIR LIQUIDE. Mercados dubitativos a la espera de Powell en Jacson Hole Ayer las bolsas europeas fueron de menos a más y algunos índices como el FTSE 100 lograron terminar con ligeras ganancias mientras que el DAX y el Ibex terminaron casi sin cambios. En el STOXX 600 los sectores que más subieron fueron Energía, Bancos y R. Básicos frente a las mayores caídas de Media, B. Consumo y Químicas. Por el lado macro, en Eurozona el...

IBERIAN DAILY 20 AUGUST (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: IAG. European stock markets outperform US counterparts Yesterday European stock markets once again performed well, widening the outperformance gap with the S&P 500 in this second half of the month. In the STOXX 600, the sectors rising the most were Autos, Consumer Goods and Chemicals (all more than +2.0%), compared to Real Estate, which was the only sector closing in the red, and the cyclicals Industrials and Energy (dragged down by the Brent rout), which rose the least. On the ma...

INFORME DIARIO 20 AGOSTO (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: IAG. Los índices europeos sacan ventaja a los americanos Ayer las bolsas europeas volvieron a hacerlo bien y aprovecharon para ampliar el mejor comportamiento relativo frente al S&P 500 en esta segunda mitad de mes. En el STOXX 600 los sectores que más subieron fueron Autos, B. Consumo y Químicas (todos más de un +2,0%) frente a Inmobiliario que fue el único que cerró negativo y los cíclicos Industria y Energía (lastrado por la caída del Brent) que ...

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 11/08/2025

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 08/11/2025

Munich Re : Strong Q2 2025 results; FX and P/C reinsurance pricing for...

MUNICH RE: RDOS. 2T’25 (ANÁLISIS BANCO SABADELL)

Rdos. 2T'25 vs 2T'24: Primas: 14.775 M euros (-1,2% vs +3,2% BS(e) y +3,7% consenso); Rdo. Operativo: 2.917 M euros (+31,9% vs -8,2% BS(e) y -0,6% consenso); BDI: 2.085 M euros (+28,5% vs +7,8% BS(e) y +0,1% consenso). Rdos. 1S'25 vs 1S'24: Primas: 30.586 M euros (+4,7% vs +6,9% BS(e) y +7,1% consenso); Rdo. Operativo: 4.382 M euros (-14,7% vs -32,0% BS(e) y -28,7% consenso); BDI: 3.179 M euros (-15,5% vs -24,4% BS(e) y -27,8% consenso).

IBERIAN DAILY 08 AUGUST (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: ENAGÁS. Stock markets near highs It was a positive session for European stock markets, which climbed >1.3% despite the implementation of tariffs. Even though it lagged behind Europe, the Ibex hit new highs. Thus, in the STOXX 600 all sectors except Energy, Telecom and Utilities ended with gain, led by Travel&Leisure and Chemicals. On the macro side, in the UK, as expected, the BoE cut rates by 25bps to 4.0% although with a tight vote (5 votes in favour vs. 4). In Germany, June’s i...

INFORME DIARIO 08 AGOSTO (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ENAGÁS. EUROPA: AIRBUS, MUNICH RE. Bolsas rumbo a máximos Jornada de números verdes en las bolsas europeas, que dispararon sus ganancias por encima del 1,3% a pesar de la entrada en vigor de los aranceles. El Ibex pese a estar a la cola de Europa, amplió su racha y sus máximos. Así, en el STOXX 600 todos los sectores menos Energía, Telecos y Utilities terminaron con ganancias, lideradas por Viajes&Ocio y Químicas. Por el lado macro, en R. Unido el B...

International Consolidated Airlines Group SA: 2 directors

Two Directors at International Consolidated Airlines Group SA sold 150,000 shares at between 371p and 378p. The significance rating of the trade was 83/100. 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...

IAG: MENSAJES DE LA CONFERENCE CALL RDOS. 2T’25 (ANÁLISIS BANCO SABADE...

De la conference call de Rdos. 2T’25 destacamos: