The market environment remains fragile but small caps are showing encouraging signs, staging indeed a return to their old outperformance YTD in 2025. We expect this asset class to maintain the rebound initiated a few months ago, thanks to : 1/ discounted valuations, 2/ a growth premium, and 3/ the potential for a return of flows. After an outperformance of 9% in H1 (+2.8 points in vs MSCI small cap Europe), we are adjusting our H2 2025 Nextcap conviction list, which now includes : CM.com, Compag...
Le contexte de marché demeure encore fragile, mais les signaux sont encourageants sur les small caps qui affichent un retour à une surperformance YTD 2025. Nous pensons que cette classe d’actifs devrait continuer son rebond initié depuis quelques mois grâce à : 1/ des valorisations toujours décotées, 2/ une certaine prime de croissance et 3/ un potentiel retour des flux. Après une surperformance de 9% (+2.8 points vs MSCI small cap Europe) au S1, nous ajustons notre liste de convictions Nextcap ...
Feedback of the companies present at the ODDO BHF Nextcap Forum Company Country Market cap. (m) Company Country Market cap. (m) Accsys Technologies € 124 Hoffmann Green € 62 Afyren € 72 Hornbach € 1 451 Altri € 1 058 IDI € 537 AMG € 550 Implenia CHF 973 AmRest PLN 3 544 Jacquet Metals € 494 Arcure € 29 Kloeckner & Co € 653 Arverne 194 Knaustabbert € 144 Austriacard Holdings € 188 Lna Santé € 270 Bastide € 218 Medincell € 398 Befesa € 1 116 Nacon € 63 CAF € 1 649 N...
Our 14th edition of the ODDO BHF Nextcap Forum took place on 11 June in Paris, and on 12 June virtually. 96 companies and 170 investors were present for more than 700 meetings organized. Overall, we noted a still cautious tone from companies, with limited visibility on a solid rebound in a persistently uncertain market environment (geopolitical situation, US politics, etc.), even if there are some signs of recovery and certain sectors remain very well positioned (leisure, energy, defence). At th...
NEWS SUMMARY: CHANGES IBEX 35, INDITEX, SACYR. Flat stock markets Stock markets remained calm, awaiting relevant macroeconomic data (May’s inflation will be released today in the US) or newsflow on the negotiations with China. In the STOXX 600, the best-performing sectors were Autos and Energy, whereas Banks and Financial Services ended with the biggest drops. On the macro side, in the euro zone, June’s Sentix index climbed more than expected to the highest level in one year, also providing the...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: CAMBIOS IBEX, INDITEX, SACYR. Bolsas planas Continuó la tregua una jornada más, con pocos movimientos a la espera de datos macro relevantes (hoy se publica la inflación de mayo en EE.UU.) o novedades en las negociaciones con China. En el STOXX 600 los mejores sectores en positivo fueron Autos y Energía, frente a Bancos y Servicios Financieros que fueron los que más cayeron. Por el lado macro, en la Eurozona el índice Sentix de junio repuntó más de ...
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