reports
- Maissa Keskes
- Stephane Houri
EDEN EDENRED SA
EQNR EQUINOR ASA
GALP GALP ENERGIA SGPS SA CLASS B
BN DANONE SA
KPN ROYAL KPN NV
VOLV B VOLVO AB CLASS B
ABB ABB LTD.
SRT3 SARTORIUS AG PREF
NOKIA NOKIA OYJ
REE RED ELECTRICA CORP. SA
ENI ENI S.P.A.
SCHP SCHINDLER HOLDING AG PREF
CAP CAPGEMINI SE
EZJ EASYJET PLC
REP REPSOL SA
DIM SARTORIUS STEDIM BIOTECH SA
ACS ACTIVIDADES DE CONSTRUCCION Y SERVICIOS SA
BC BRUNELLO CUCINELLI S.P.A.
HLAG HAPAG-LLOYD AG
BHP BHP GROUP LTD
ASML ASML HOLDING NV
BP. BP P.L.C.
FDJ LA FRANCAISE DES JEUX SA
SHEL SHELL PLC
SGSN SGS SA
- Carole Braudeau
- Carole Braudeau
- Maissa Keskes
- Stephane Houri
EDEN EDENRED SA
EQNR EQUINOR ASA
GALP GALP ENERGIA SGPS SA CLASS B
BN DANONE SA
KPN ROYAL KPN NV
VOLV B VOLVO AB CLASS B
ABB ABB LTD.
SRT3 SARTORIUS AG PREF
NOKIA NOKIA OYJ
REE RED ELECTRICA CORP. SA
ENI ENI S.P.A.
SCHP SCHINDLER HOLDING AG PREF
CAP CAPGEMINI SE
EZJ EASYJET PLC
REP REPSOL SA
DIM SARTORIUS STEDIM BIOTECH SA
ACS ACTIVIDADES DE CONSTRUCCION Y SERVICIOS SA
BC BRUNELLO CUCINELLI S.P.A.
HLAG HAPAG-LLOYD AG
BHP BHP GROUP LTD
ASML ASML HOLDING NV
BP. BP P.L.C.
FDJ LA FRANCAISE DES JEUX SA
SHEL SHELL PLC
SGSN SGS SA
- Emna Ben Bdira
- Maxime Kogge
BHP ltd : Q1 production update: solid in iron ore and copper but renew...
>Decent numbers in iron ore, copper and energy coal, weak in met coal and nickel - Overnight, BHP published decent, in-line production numbers for Q3 2023-24 (closed 31 March) in the core Iron Ore and Copper divisions but weak in Met Coal. Production at the main WAIO iron ore division was down 1% y-o-y at 68.1mt due to heavy rainfall, maintenance on the train network and a number of hiccups in ramping up the new mines, South Flank and Mining Area C, thus standing 1% ...
- Emna Ben Bdira
- Maxime Kogge
BHP ltd : Q1 production update: solid in iron ore and copper but renew...
>Decent numbers in iron ore, copper and energy coal, weak in met coal and nickel - Overnight, BHP published decent, in-line production numbers for Q3 2023-24 (closed 31 March) in the core Iron Ore and Copper divisions but weak in Met Coal. Production at the main WAIO iron ore division was down 1% y-o-y at 68.1mt due to heavy rainfall, maintenance on the train network and a number of hiccups in ramping up the new mines, South Flank and Mining Area C, thus standing 1% ...
BHP donates $500,000 to Saskatoon Food Bank & Learning Centre’s Plant ...
BHP donates $500,000 to Saskatoon Food Bank & Learning Centre’s Plant Possibility Campaign to help meet growing need SASKATOON, Saskatchewan, March 19, 2024 (GLOBE NEWSWIRE) -- BHP and the Saskatoon Food Bank and Learning Centre (SFBLC) are pleased to announce a $500,000 donation from BHP to SFBLC’s Plant Possibility Campaign. The donation will support a new food warehouse and learning campus, as the SFBLC expands to meet the city’s increasing need for safe, affordable and nutritious food. Poverty and hunger are overwhelming realities for the people turning to the SFBLC each month. In the...
- Anthony Dick
- Marc Lavaud
- Martin Marandon-Carlhian
- Maxime Kogge
- Michael Foundoukidis
ODDO : Véhicules électriques : d’un excès à l’autre ?
Le momentum autour de l’électrification, moins favorable dernièrement, a conduit à un changement profond de perception, passant d’un optimisme sans doute excessif à un pessimisme qui le semble tout autant. En effet, si nous avons revu en baisse nos hypothèses, nous visons néanmoins toujours une croissance dans les années à venir (y compris cette année), bien supérieure à celle du marché automobile dans son ensemble. Face à ces changements, tous les acteurs au sein de la chaîne de...
INFINEON INFINEON TECHNOLOGIES AG
BMW BAYERISCHE MOTOREN WERKE AG
AAL ANGLO AMERICAN PLC
RNO RENAULT SA
EO FAURECIA SA
DAI DAIMLER AG
POM PLASTIC OMNIUM SE
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
FR VALEO SE
VOW3 VOLKSWAGEN AG PREF
ERA ERAMET SA
SHA SCHAEFFLER AG
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
AIXA AIXTRON SE
CIE CIE AUTOMOTIVE S.A.
MELE MELEXIS NV
LIVS AUTOLIV INC. SDR
RIO RIO TINTO PLC
XFAB X-FAB SILICON FOUNDRIES SE
BHP BHP GROUP LTD
PIRC PIRELLI & C. S.P.A.
STM STMICROELECTRONICS NV
STLA STELLANTIS N.V.
VTSC VITESCO TECHNOLOGIES GRP AG
ML COMPAGNIE GENERALE DES ETABLISSEMENTS MICHELIN
- Anthony Dick
- Marc Lavaud
- Martin Marandon-Carlhian
- Maxime Kogge
- Michael Foundoukidis
ODDO : Electric vehicles: from one extreme to another?
With momentum around electrification less favourable of late, we have seen a major shift in perception, from doubtless overly rose-tinted optimism to what looks to be similarly excessive pessimism. While we have reduced our BEV assumptions, we nonetheless still anticipate growth in the next few years (including this year), well ahead of that of the automotive market as a whole. In the face of these changes, the players in the value chain (mines, semiconductors, auto) are differen...
INFINEON INFINEON TECHNOLOGIES AG
BMW BAYERISCHE MOTOREN WERKE AG
AAL ANGLO AMERICAN PLC
RNO RENAULT SA
EO FAURECIA SA
DAI DAIMLER AG
POM PLASTIC OMNIUM SE
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
FR VALEO SE
VOW3 VOLKSWAGEN AG PREF
ERA ERAMET SA
SHA SCHAEFFLER AG
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
AIXA AIXTRON SE
CIE CIE AUTOMOTIVE S.A.
MELE MELEXIS NV
LIVS AUTOLIV INC. SDR
RIO RIO TINTO PLC
XFAB X-FAB SILICON FOUNDRIES SE
BHP BHP GROUP LTD
PIRC PIRELLI & C. S.P.A.
STM STMICROELECTRONICS NV
STLA STELLANTIS N.V.
VTSC VITESCO TECHNOLOGIES GRP AG
ML COMPAGNIE GENERALE DES ETABLISSEMENTS MICHELIN
- Luis de Toledo Heras
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/20/2024
Campari shares are starting to show signs of flagging against the backdrop of a weaker-than-expected Q3 2023, a controversial acquisition in cognac, and dilution following the January capital increase. In addition, as the group diversifies, its profile increasingly resembles that of a pure player such as Pernod Ricard and Diageo, for which long-term growth and valuation levels are lower. By revising down our long-term growth estimates for Campari, we are lowering our target price to €...
AI AIR LIQUIDE SA
MC LVMH MOET HENNESSY LOUIS VUITTON SE
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
KER KERING SA
SAF SAFRAN S.A.
AIR AIRBUS SE
BAYN BAYER AG
01913 PRADA S.P.A.
MONC MONCLER SPA
ENG ENAGAS SA
CFR COMPAGNIE FINANCIERE RICHEMONT SA
BHP BHP GROUP LTD
IHG INTERCONTINENTAL HOTELS GROUP PLC
- Emna Ben Bdira
- Maxime Kogge
BHP ltd : H1 results solid and in line, constructive outlook for 2024
>Results in line, copper strength offsets softness on iron ore, coal and nickel - BHP’s H2 2023 (to 31 December) results were in line with expectations. Underlying EBITDA was $ 13.9bn, 1% below the consensus and ODDO BHF but up 5% y-o-y thanks to higher commodity prices and volumes partly offset by lingering inflation, with unit costs 5% higher, but representing a deceleration vs previous levels. The largest iron ore division saw a 27% increase to $ 9.7bn, albeit 1% ...
- Emna Ben Bdira
- Maxime Kogge
BHP ltd : H1 results solid and in line, constructive outlook for 2024
>Results in line, copper strength offsets softness on iron ore, coal and nickel - BHP’s H2 2023 (to 31 December) results were in line with expectations. Underlying EBITDA was $ 13.9bn, 1% below the consensus and ODDO BHF but up 5% y-o-y thanks to higher commodity prices and volumes partly offset by lingering inflation, with unit costs 5% higher, but representing a deceleration vs previous levels. The largest iron ore division saw a 27% increase to $ 9.7bn, albeit 1% ...
- Luis de Toledo Heras
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 20/02/2024
Le titre Campari commence à montrer des signes de faiblesses sur fond d’un T3 23 inférieur aux attentes, d’une acquisition controversée dans le cognac, et de la dilution suite à l’augmentation de capital de janvier. En outre, à mesure que le groupe se diversifie, son profil s’apparente à celui d’un pure player comme Pernod Ricard et Diageo, dont les niveaux de croissance de long terme et de valorisation sont inférieurs. En réduisant la croissance de long terme du groupe italien, nous ...
AI AIR LIQUIDE SA
MC LVMH MOET HENNESSY LOUIS VUITTON SE
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
KER KERING SA
SAF SAFRAN S.A.
AIR AIRBUS SE
BAYN BAYER AG
01913 PRADA S.P.A.
MONC MONCLER SPA
ENG ENAGAS SA
CFR COMPAGNIE FINANCIERE RICHEMONT SA
BHP BHP GROUP LTD
IHG INTERCONTINENTAL HOTELS GROUP PLC
- Carole Braudeau
- Carole Braudeau
BHP makes transformational donation to YWCA Saskatoon’s Hope Lives Her...
BHP makes transformational donation to YWCA Saskatoon’s Hope Lives Here Campaign SASKATOON, Saskatchewan, Feb. 13, 2024 (GLOBE NEWSWIRE) -- BHP and YWCA Saskatoon are pleased to announce a $500,000 investment from BHP to YWCA's Hope Lives Here campaign. In 2022, YWCA Saskatoon’s Crisis Shelter & Residence turned away a staggering 4,253 women and children in need. Hope Lives Here is the organization’s largest capital campaign ever. With a fundraising goal of $19 million, the campaign is funding a new transitional housing wing that will more than double YWCA Saskatoon’s capacity to provide ...
BHP awards 26 scholarships to Saskatchewan students
BHP awards 26 scholarships to Saskatchewan students SASKATOON, Saskatchewan, Feb. 05, 2024 (GLOBE NEWSWIRE) -- BHP and Carlton Trail College are pleased to announce the recipients of the BHP Jansen Scholarship Program for 2023. The scholarship provides combined support of over $82,000 to 26 youth pursuing post-secondary education and training opportunities in a field of their choosing. Carlton Trail College is a partner in this initiative, administering the program on BHP’s behalf. “Access to post-secondary education and skills training is proven to bring several benefits to individuals ...
- Ahmed Ben Salem
- Bruno Cavalier
- Marc Lavaud
- Martin Marandon-Carlhian
- Stephane Houri
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 05/02/2024
3 valeurs sortent aujourd’hui de notre liste de Convictions Large Caps européennes. Nous prenons nos profits sur ASML (+ 30% depuis son entrée dans la liste) après sa forte hausse post publication de son T4 2023. Inversement, nous coupons notre position sur RWE (-15% depuis son entrée) après de bons résultats 2023 mais une guidance 2024 revue en baisse. Nous conservons Sodexo dans son nouveau périmètre mais sortons Pluxee. - ...
FME FRESENIUS MEDICAL CARE AG & CO. KGAA
TKA THYSSENKRUPP AG
MC LVMH MOET HENNESSY LOUIS VUITTON SE
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
KER KERING SA
REE RED ELECTRICA CORP. SA
01913 PRADA S.P.A.
MONC MONCLER SPA
ENG ENAGAS SA
CABK CAIXABANK SA
CFR COMPAGNIE FINANCIERE RICHEMONT SA
INGA ING GROEP NV
BHP BHP GROUP LTD
RMV RIGHTMOVE PLC
DSFIR KONINKLIJKE DSM N.V.
- Ahmed Ben Salem
- Bruno Cavalier
- Marc Lavaud
- Martin Marandon-Carlhian
- Stephane Houri
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/05/2024
We are removing three stocks from the ODDO BHF European Large Caps Convictions List today. We are taking our profits on ASML (+30% since its inclusion in the list) after its strong gains since the publication of its Q4 2023 results. Conversely, we are reducing our position on RWE (-15% since its inclusion in the list) following a good set of 2023 results but a downward revision to 2024 guidance. We maintain Sodexo in its new scope in the list but withdraw Pluxee - ...
FME FRESENIUS MEDICAL CARE AG & CO. KGAA
TKA THYSSENKRUPP AG
MC LVMH MOET HENNESSY LOUIS VUITTON SE
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
KER KERING SA
REE RED ELECTRICA CORP. SA
01913 PRADA S.P.A.
MONC MONCLER SPA
ENG ENAGAS SA
CABK CAIXABANK SA
CFR COMPAGNIE FINANCIERE RICHEMONT SA
INGA ING GROEP NV
BHP BHP GROUP LTD
VOD VODAFONE GROUP PLC
RMV RIGHTMOVE PLC
DSFIR KONINKLIJKE DSM N.V.
- Emna Ben Bdira
- Maxime Kogge
BHP ltd : H1 preview: fairly solid performance but lower iron prices a...
>Inflation is set to take a toll on H1 ahead of an expected recovery in H2 - BHP is due to report H1 2023-24 results (to end-December) on 19 February. The world’s largest mining group has already unveiled its production figures which were broadly in line with expectations aside from coking coal. We forecast underlying EBITDA of $ 14.1bn, in line with the Visible Alpha consensus but down 5% on H2 2022-23. While production, prices and forex are all expected to have a sl...
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