Credit Morning 06/28/2024

Grifols: some Spanish banks are reportedly refusing to refinance to loan granted to Scranton (El Confidencial)>...

Morning Crédit 28/06/2024

Grifols : des banques espagnoles refuseraient de refinancer un prêt accordé à Scranton (El Confidencial)>...

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 06/27/2024

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ODDO BHF Small & MIDCAP MORNING NEWS - 06/27/2024

As momentum has become less adverse than over the past five years, interest rates have started to fall and valuations have (historically low), this should have prodded small and mid cap companies back to their old outperformance. The European elections in France and the ensuing decision to dissolve the French National Assembly have changed risk perceptions and erased YTD gains. In our new ODDO BHF European mid cap list for H2 2024, France is underweighted with a mix of defensive and s...

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 27/06/2024

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INVEST SECURITIES - ATOS : Onepoint jette l'éponge, les créanciers en ...

ODDO BHF Small & MIDCAP MORNING NEWS - 27/06/2024

Le momentum devenu moins défavorable qu’au cours des 5 derniers exercices, l’amorce de baisse des taux, et les valorisations (historiquement basses) auraient dû aider les small&Midcaps à retrouver leur surperformance. Les Elections européennes suivies de la dissolution de l’Assemblée nationale en France ont changé la perception du risque et gommé les gains YTD. Notre nouvelle liste ODDO BHF European Midcaps pour le S2 2024 se trouve sous-pondérée sur la France et propose un mix entre ...

ODDO : Ericsson downgrades its global traffic outlook

>Unprecedented revision of 25% - Ericsson yesterday published its annual Ericsson Mobility report, an industry benchmark for mobile network traffic forecasts. Traffic forecasts are crucial in terms of the investment outlook for the telecoms sector.What is surprising is that Ericsson cut its global mobile traffic forecast by close to 25% for 2029 (from 403 EB/m to 313 EB/m, or from 56 to 42 GB/m per smartphone user). Ericsson does not communicate much on this revi...

Atos : onepoint withdraws its takeover offer. EPEI back in the race

>Atos formalises the withdrawal of the consortium led by onepoint - Whilst articles in the press (Le Figaro, Challenges) have reported major tensions in negotiations between the consortium led by onepoint, an offer from which had been selected by the Atos’ board of directors and its creditors, the group yesterday issued a press release formalising the withdrawal of onepoint from negotiations, albeit without offering further details. The first articles in the press (wh...

Atos : onepoint retire son offre de reprise. EPEI revient dans la cour...

>Atos officialise le retrait du consortium mené par onepoint - Alors que des articles de presse (Le Figaro, Challenges) faisaient état de fortes tensions dans les négociations entre le consortium mené par onepoint, dont l’offre avait finalement été sélectionnée par le conseil d’administration d’Atos, et les créanciers du groupe, Atos a publié hier matin un communiqué de presse officialisant le retrait de onepoint des négociations, sans donner plus de précisions. Les p...

ODDO : Ericsson abaisse ses prévisions de trafic mondial

>Une révision inédite de 25% - Ericsson a publié hier son rapport annuel « Ericsson Mobility report», une référence de l’industrie pour les prévisions de trafic sur réseau mobile. Les prévisions de trafic sont déterminantes pour les prévisions d’investissements dans les télécoms.La surprise est qu’Ericsson coupe de près de 25% à la baisse ses prévisions de trafic mobile mondial pour 2029 (de 403 ExaBytes/mois à 313 EB/mois, soit de 56 à 42 GB/mois par utilisateur...

ODDO BHF Small & MIDCAP MORNING NEWS - 06/26/2024

Our conviction on the long-term growth potential and opportunities of generative AI is renewed. The enabler sectors (semiconductors, software and IT services) and those that provide the infrastructure (utilities, metals, capital goods and real estate) will be the primary beneficiaries, leading us to make certain target price changes. Among AI ‘user’ sectors (media, healthcare, automotive, banking and insurance, oil services, defence, aerospace and airlines), the effects will doubtless...

Credit Morning 06/26/2024

Eurofins responds to Muddy Waters allegations Atos: the Onepoint consortium withdraws from talks, EPEI proposes to restart talks Vodafone: issuance of $ 3bn of bonds, tenders on certain USD/EUR bonds Picard: IPT announced, and rating upgraded by Moody's to B2/stable>...

Morning Crédit 26/06/2024

Eurofins responds to Muddy Waters allegations Picard : IPT communiqués et upgrade du rating par Moody’s à B2/stable Atos : le consortium Onepoint se retire des discussions, EPEI propose de les reprendre Vodafone : émission de 3 mds USD d’obligations, tenders sur certaines souches en USD/EUR>...

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 26/06/2024

Notre conviction sur le potentiel de croissance LT et d’opportunités de l’IA générative est renforcée. Les secteurs 'enablers' (semiconducteurs, software et IT services) et fournisseurs d’infrastructures (utilities, métaux, biens d'équipements et immobilier) en seront les premiers bénéficiaires, conduisant à certains changements d’OC. Parmi les secteurs ‘utilisateurs’ de l’IA (média, santé, automobile, banque et assurance, services pétroliers, défense, aéronautique et compagnies aérie...

ODDO BHF Small & MIDCAP MORNING NEWS - 26/06/2024

Notre conviction sur le potentiel de croissance LT et d’opportunités de l’IA générative est renforcée. Les secteurs 'enablers' (semiconducteurs, software et IT services) et fournisseurs d’infrastructures (utilities, métaux, biens d'équipements et immobilier) en seront les premiers bénéficiaires, conduisant à certains changements d’OC. Parmi les secteurs ‘utilisateurs’ de l’IA (média, santé, automobile, banque et assurance, services pétroliers, défense, aéronautique et compagnies aérie...

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 06/26/2024

Our conviction on the long-term growth potential and opportunities of generative AI is renewed. The enabler sectors (semiconductors, software and IT services) and those that provide the infrastructure (utilities, metals, capital goods and real estate) will be the primary beneficiaries, leading us to make certain target price changes. Among AI ‘user’ sectors (media, healthcare, automotive, banking and insurance, oil services, defence, aerospace and airlines), the effects will doubtless...

ODDO : Numeum lowers its forecasts for the sector in France with no re...

>Downward revision to growth forecasts for 2024 at +5.0%... - Yesterday afternoon, Numeum held its half-year conference on trends in the digital sector in France (IT services, engineering services and software). At this event, following a survey of its members between April and early May, the professional union delivered a message that was broadly more cautious than in December regarding the sector trend for 2024, with a lower growth forecast for the entire market at ...