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Carole Braudeau
  • Carole Braudeau

Morning Crédit 22/09/2025

Fitch a upgradé la note de l’Italie de BBB à BBB+ - attente d’actions similaires sur les banques|BBVA relève les termes de son offre sur Banco Sabadell|

Marine Leleux ... (+3)
  • Marine Leleux
  • Maureen Schuller
  • Suvi Platerink Kosonen

Bank Brunch/Deutsche Bank 3Q comments, Spanish covered ratings, Swedis...

Deutsche Bank's Investment Bank gears for another solid quarter; S&P raised the covered bond ratings for four Spanish names to ‘AAA'; Finansinspektion extends its risk-weights floors for Swedish mortgages and commercial real estate

Marine Leleux ... (+3)
  • Marine Leleux
  • Maureen Schuller
  • Suvi Platerink Kosonen

Bank Brunch/Deutsche Bank 3Q comments, Spanish covered ratings, Swedis...

Deutsche Bank's Investment Bank gears for another solid quarter; S&P raised the covered bond ratings for four Spanish names to ‘AAA'; Finansinspektion extends its risk-weights floors for Swedish mortgages and commercial real estate

Research Department
  • Research Department

INFORME DIARIO 17 SEPTIEMBRE (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: CAF, CAIXABANK. Caídas antes de la Fed Las bolsas europeas perdieron ayer más de lo ganado en la sesión del lunes ante las dudas de mayor presión impositiva en Europa y a pesar de unos datos macro muy sólidos en Estados Unidos. En el STOXX 600 todos los sectores menos R. Básicos terminaron con caídas, lideradas por los financieros Seguros y Bancos. Por el lado macro, en Alemania el índice ZEW de septiembre repuntó inesperadamente. En la Eurozona,...

Research Department
  • Research Department

IBERIAN DAILY 17 SEPTEMBER (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: CAF, CAIXABANK. Corrections ahead of the Fed Yesterday corrections on European stock market cancelled out Monday’s gains amid doubts about higher fiscal pressure in Europe and despite the robust macroeconomic data released in the US. In the STOXX 600, all sectors except Basic Resources ended with drops, led by Insurance and Banks. On the macro side, in Germany, September’s ZEW index rose unexpectedly. In the euro zone, July’s industrial output climbed more than expected in MoM ter...

Marine Leleux ... (+3)
  • Marine Leleux
  • Maureen Schuller
  • Suvi Platerink Kosonen

Bank Brunch/Sovereign ratings vs banks, CaixaBank AT1, UniCredit SNP b...

Convergence of sovereign credit quality a positive for some and negative for others; Another tender from CaixaBank to support AT1 issuance; UniCredit in the market with a 6NC5 senior non-preferred bond

Marine Leleux ... (+3)
  • Marine Leleux
  • Maureen Schuller
  • Suvi Platerink Kosonen

Bank Brunch/Sovereign ratings vs banks, CaixaBank AT1, UniCredit SNP b...

Convergence of sovereign credit quality a positive for some and negative for others; Another tender from CaixaBank to support AT1 issuance; UniCredit in the market with a 6NC5 senior non-preferred bond

Carole Braudeau
  • Carole Braudeau
AC ACCOR SA
ELIS ELIS SA ... (+6)

Credit Morning 09/01/2025

Stada exit saga continues: Instead of IPO, CapVest to buy Stada|Cerba manages to stabilise EBITDA in Q2 2025 and plans to pay the next coupon|

Carole Braudeau
  • Carole Braudeau
AC ACCOR SA
ELIS ELIS SA ... (+6)

Morning Crédit 01/09/2025

Stada exit saga continues: Instead of IPO, CapVest to buy Stada|Cerba parvient à stabiliser son EBITDA au T2 2025 et prévoit de payer le prochain coupon|

Research Department
  • Research Department

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. ...

Research Department
  • Research Department

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 ...

Research Department
  • Research Department

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...

Research Department
  • Research Department

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...

Steven Gould
  • Steven Gould
Steven Gould
  • Steven Gould
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