reports
- Damien Choplain
- Martial Descoutures
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/05/2024
European equity markets weakened in October following multiple disappointments across the earnings season. The impending US election, the outcome of which is highly uncertain according to the polls, may also have prompted some traders to adopt a cautious stance. Sovereign long rates rose sharply, particularly in the US, on the back of macro indicators likely to provide arguments to the most hawkish of central bankers. All eyes are now on the November 5 elections and their repercussion...
- Damien Choplain
- Martial Descoutures
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 05/11/2024
Les marchés actions européens ont fléchi en octobre après les nombreuses déceptions sur la saison des résultats. L’approche de l’élection US, très incertaine selon les sondages, pourrait également avoir poussé à la prudence certains opérateurs. Les taux longs souverains ont nettement remonté, en particulier aux Etats-Unis, sur la base d’indicateurs macro susceptibles de donner des arguments aux plus faucons des banquiers centraux. Tous les yeux sont désormais rivés sur le scrutin du 5...
- Benoit Valleaux
- Steven Gould
BBVA : Q3 2024 in keeping with 2024 guidance
>Outperform rating maintained – target price reduced to € 13.0 (vs € 13.6) - BBVA’s performance in Q3/9M 2024 remains solid (operationally/balance sheet-wise) and lends weight to the 2024 guidance. We have raised our 2024-2026 net income forecasts by 2% on average given more favourable prospects on revenues (NII, commissions) and despite a slightly more conservative stance on the CoR. We maintain our Outperform rating on the stock in light of the bank’s solid prospect...
- Research Department
IBERIAN DAILY 05 NOVEMBER + 3Q’24 RESULTS. HIGHLIGHTS AND REST OF PREV...
NEWS SUMMARY: FLUIDRA, OHLA. At the end of today’s report, and during the entire results season, we will include a presentation with positive and negative results highlights and previews for the 3Q’24 results to be released over the coming days in Spain. Calm ahead of the elections It was a calm session with moderate corrections in Europe ahead of the US elections (with a tight race) and the Fed meeting to be held next Thursday. In the STOXX 600, Banks and Energy saw the biggest gains vs. Tech...
- Research Department
INFORME DIARIO 05 NOVIEMBRE + RDOS. ESPAÑA Y EUROPA 3T’24. IDEAS DESTA...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: FLUIDRA, NATURGY, OHLA. EUROPA: DHL GROUP. Incluido en el informe diario de hoy, y durante toda la campaña de resultados, incorporamos al final una presentación con los resultados destacados en positivo y negativo y previews de Rdos. 3T’24 que se publicarán en España y Europa en los próximos días. Calma antes de las elecciones Sesión de poco movimiento y cautela con caídas moderadas en Europa en la jornada previa a las elecciones en Estados Unidos...
- Benoit Valleaux
- Steven Gould
BBVA : Un T3 2024 en phase avec les guidances annuelles
>Opinion Surperformance maintenue. OC ramené à 13.0 € (vs 13.6 €) - La performance opérationnelle de BBVA au T3/9M 2024 reste solide (opérationnel/bilanciel), et conforte les guidances 2024. Nous rehaussons nos anticipations de RN 2024-26e de 2% en moyenne notamment en raison des perspectives plus favorables sur les revenus (NII, commissions) et malgré une approche un peu plus conservatrice sur le coût du risque. Nous maintenons notre opinion Surperformance sur le tit...
- Carole Braudeau
- Carole Braudeau
- Research Department
IBERIAN DAILY 31 OCTOBER + 3Q’24 RESULTS. PREVIEWS (ANÁLISIS BANCO SAB...
NEWS SUMMARY: BANKING/ENERGY SECTOR, CAIXABANK, EBRO FOODS, FCC, FLUIDRA, NATURGY. At the end of today’s report, and during the entire results season, we will include a presentation with positive and negative results highlights and previews for the 3Q’24 results to be released over the coming days in Spain. Inflation rises in October European stock markets fell, with October’s inflation data in Europe higher than expected. In the STOXX 600, all the sectors ended with drops, with Travel & Leisu...
- Research Department
INFORME DIARIO 31 0CTUBRE + RDOS. ESPAÑA Y EUROPA 3T’24. PREVIEWS (ANÁ...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: CAIXABANK, EBRO FOODS, FCC, FLUIDRA, NATURGY, SECTOR BANCOS, SECTOR ENERGÉTICO. EUROPA: AB INBEV, AXA, AIRBUS, DHL GROUP, ING, SIEMENS. Incluido en el informe diario de hoy, y durante toda la campaña de resultados, incorporamos al final una presentación con los resultados destacados en positivo y negativo y previews de Rdos. 3T’24 que se publicarán en España y Europa en los próximos días. La inflación repunta en octubre Caídas en los mercados euro...
- Virginia Romero
- Luis Arredondo
- Luis Arredondo
GLOBAL DOMINION: 3Q’24 RESULTS (ANÁLISIS BANCO SABADELL)
3Q'24 vs. 3Q'23 Results Sales: € 284.9 M (+1.7% vs. +3.6% BS(e) and +2.0% consensus); EBITDA: € 36.2 M (+24.0% vs. +23.2% BS(e) and +19.2% consensus); EBIT: € 18.0 M (+30.4% vs. +44.8% BS(e) and +31.9% consensus); Net Profit: € 3.8 M (-5.0% vs. +49.6% BS(e) and +22.5% consensus); 9M'24 vs. 9M'23 Results Sales: € 856.3 M (+0.6% vs. +1.3% BS(e) and +0.7% consensus); EBITDA: € 107.5 M (+7.1% vs. +6.9% BS(e) and +5.7% consensus); EBIT: € 58.6 M (+8.7% vs. +12.4% BS(e) and +9.1% consensus); Net Profi...
- Luis Arredondo
GLOBAL DOMINION: RDOS. 3T’24 (ANÁLISIS BANCO SABADELL)
Rdos. 3T'24 vs 3T'23: Ventas: 284,9 M euros (+1,7% vs +3,6% BS(e) y +2,0% consenso); EBITDA: 36,2 M euros (+24,0% vs +23,2% BS(e) y +19,2% consenso); EBIT: 18,0 M euros (+30,4% vs +44,8% BS(e) y +31,9% consenso); BDI: 3,8 M euros (-5,0% vs +49,6% BS(e) y +22,5% consenso). Rdos. 9meses'24 vs 9meses'23: Ventas: 856,3 M euros (+0,6% vs +1,3% BS(e) y +0,7% consenso); EBITDA: 107,5 M euros (+7,1% vs +6,9% BS(e) y +5,7% consenso); EBIT: 58,6 M euros (+8,7% vs +12,4% BS(e) y +9,1% consenso); BDI: 20,1 ...
- Research Department
IBERIAN DAILY 23 OCTOBER + 3Q’24 RESULTS. HIGHLIGHTS AND REST OF PREVI...
NEWS SUMMARY: ENERGY SECTOR, GLOBAL DOMINION, IBERDROLA. At the end of today’s report, and during the entire results season, we will include a presentation with positive and negative results highlights and previews for the 3Q’24 results to be released over the coming days in Spain. Debt cools the markets European stock markets ended flat in a session marked by the doubts surrounding the sustainability of sovereign debt. In the STOXX 600, Technology led the gains, with Utilities and Insurance p...
- Research Department
INFORME DIARIO 23 0CTUBRE + RDOS. ESPAÑA Y EUROPA 3T’24. IDEAS DESTACA...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: GLOBAL DOMINION, IBERDROLA, SECTOR ENERGÉTICO. EUROPA: AIR LIQUIDE, L’ORÉAL. Incluido en el informe diario de hoy, y durante toda la campaña de resultados, incorporamos al final una presentación con los resultados destacados en positivo y negativo y previews de Rdos. 3T’24 que se publicarán en España y Europa en los próximos días. La deuda enfría los mercados De menos a más, las bolsas europeas terminaron planas en una jornada marcada por las duda...
- Research Department
INFORME DIARIO 11 0CTUBRE + RDOS. EUROPA 3T’24 (ANÁLISIS BANCO SABADEL...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACERINOX, IBERDROLA, NATURGY, SACYR, SECTOR ELÉCTRICO. EUROPA: AIRBUS, PREVIOS RESULTADOS 3T’24, SANOFI. Incluido en el informe diario de hoy, y durante toda la campaña de resultados, incorporamos al final una presentación con los resultados destacados en positivo y negativo y previews de Rdos. 3T’24 que se publicarán en España y Europa en los próximos días. El Ibex corta su racha Las ventas se impusieron en Europa, sobre todo en el Ibex, que acumu...
- Research Department
IBERIAN DAILY 11 OCTOBER (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: ACERINOX, ELECTRICITY SECTOR, IBERDROLA, NATURGY, SACYR. The IBEX ends its streak Stock markets in Europe fell, especially the IBEX, which had seen gains in five straight sessions and closed yesterday as the worst performer in Europe. In the STOXX 600, most sectors (15/20) closed with losses, led by Industrials and Technology, with Energy and Insurance posting the biggest gains. In the euro zone, the ECB’s last meeting minutes warned that despite the fact that inflation has fallen...
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