reports
- Marine Leleux
- Maureen Schuller
- Suvi Platerink Kosonen
Bank Brunch/UBS capital need, Rabobank and Intesa capital, EPBD finali...
Swiss finance minister supports substantially higher capital requirements for UBS. Rabobank tender for participation notes to result in a limited dent in its MDA headroom, Intesa Sanpaolo calls AT1. The Council of the EU adopts the Energy Performance of Buildings Directive recast. Equitable Bank is in the market with an inaugural social covered bond. Monte dei Paschi di Siena returns in CPT covered bond format
- Marine Leleux
- Maureen Schuller
- Suvi Platerink Kosonen
Bank Brunch/UBS capital need, Rabobank and Intesa capital, EPBD finali...
Swiss finance minister supports substantially higher capital requirements for UBS. Rabobank tender for participation notes to result in a limited dent in its MDA headroom, Intesa Sanpaolo calls AT1. The Council of the EU adopts the Energy Performance of Buildings Directive recast. Equitable Bank is in the market with an inaugural social covered bond. Monte dei Paschi di Siena returns in CPT covered bond format
- Carole Braudeau
- Carole Braudeau
- Benoit Valleaux
- Steven Gould
- Thomas Zlowodzki
ODDO BHF Small & MIDCAP MORNING NEWS - 03/14/2024
Banks tick all the boxes in the market’s current configuration: search for discounted sectors, cyclical momentum, sectors driven by long-term interest rates that remain high and shareholder returns through very high dividend yields. Technical analysis reveals a strong conviction since early March, and this should continue. We prefer banks in southern Europe, where the macro outlook is brighter. Alongside CaixaBank, which we are maintaining in our list of European Large Cap stocks, we ...
CSGN CREDIT SUISSE GROUP AG
UBSN UBS GROUP AG
BNP BNP PARIBAS SA CLASS A
DBK DEUTSCHE BANK AG
CBK COMMERZBANK AG
BFIT BASIC-FIT NV
PBB DEUTSCHE PFANDBRIEFBANK AG
IDL ID LOGISTICS GROUP
INF INFOTEL SA
GLE SOCIETE GENERALE S.A. CLASS A
KBC KBC GROUP N.V.
LXS LANXESS AG
ASY ASSYSTEM SA
KCO KLOECKNER & CO SE
JCQ JACQUET METALS SA
CDA COMPAGNIE DES ALPES SA
ISP INTESA SANPAOLO S.P.A.
BCP BANCO COMERCIAL PORTUGUES S.A.
SHA SCHAEFFLER AG
IDIP INSTITUT DE DEVELOPPEMENT INDUSTRIEL SCA
ERG ERG S.P.A.
BKT BANKINTER SA
VLK VAN LANSCHOT KEMPEN NV CERT. OF SHS
UCG UNICREDIT S.P.A.
CABK CAIXABANK SA
INGA ING GROEP NV
SAN BANCO SANTANDER S.A.
UNI UNICAJA BANCO S.A.
BBVA BANCO BILBAO VIZCAYA ARGENTARIA S.A.
DMP DERMAPHARM HOLDING SE
MOR MORPHOSYS AG
SAB BANCO DE SABADELL SA
2CRSI 2CRSI SA
TITC TITAN CEMENT INTERNATIONAL N.V.
SRAIL STADLER RAIL AG
SFQ SAF-HOLLAND SE
BLV BELIEVE SA
BAI BENEVOLENTAI
- Baptiste Salaville
- Benoit Valleaux
- Steven Gould
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/14/2024
Banks tick all the boxes in the market’s current configuration: search for discounted sectors, cyclical momentum, sectors driven by long-term interest rates that remain high and shareholder returns through very high dividend yields. Technical analysis reveals a strong conviction since early March, and this should continue. We prefer banks in southern Europe, where the macro outlook is brighter. Alongside CaixaBank, which we are maintaining in our list of European Large Cap stocks, we ...
CSGN CREDIT SUISSE GROUP AG
AC ACCOR SA
UBSN UBS GROUP AG
BNP BNP PARIBAS SA CLASS A
DBK DEUTSCHE BANK AG
CBK COMMERZBANK AG
PBB DEUTSCHE PFANDBRIEFBANK AG
GLE SOCIETE GENERALE S.A. CLASS A
RHM RHEINMETALL AG
KBC KBC GROUP N.V.
SDF K+S AG
ZAL ZALANDO SE
ISP INTESA SANPAOLO S.P.A.
GEBN GEBERIT AG
RWE RWE AG
BCP BANCO COMERCIAL PORTUGUES S.A.
VOW3 VOLKSWAGEN AG PREF
BKT BANKINTER SA
VLK VAN LANSCHOT KEMPEN NV CERT. OF SHS
UCG UNICREDIT S.P.A.
CABK CAIXABANK SA
MERLIN MERLIN PROPERTIES SOCIMI S.A.
INGA ING GROEP NV
SAN BANCO SANTANDER S.A.
HLAG HAPAG-LLOYD AG
UNI UNICAJA BANCO S.A.
BIM BIOMERIEUX SA
REY REPLY S.P.A.
BBVA BANCO BILBAO VIZCAYA ARGENTARIA S.A.
SAB BANCO DE SABADELL SA
ALG ALLEGRO.EU SA
- Baptiste Salaville
- Benoit Valleaux
- Steven Gould
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 14/03/2024
Les banques cochent toutes les cases de la configuration de marché actuelle : recherche de secteurs décotés, momentum cyclique, secteurs portés par des taux longs qui restent hauts, retour à l’actionnaire via un très haut dividend yield. L’analyse technique montre une forte conviction depuis début mars, qui devrait se poursuivre. Nous favorisons les banques du sud de l’Europe, à la macro plus avenante. Aux côtés de CaixaBank, que nous conservons dans notre liste de valeurs Large Caps ...
CSGN CREDIT SUISSE GROUP AG
AC ACCOR SA
UBSN UBS GROUP AG
BNP BNP PARIBAS SA CLASS A
DBK DEUTSCHE BANK AG
CBK COMMERZBANK AG
PBB DEUTSCHE PFANDBRIEFBANK AG
GLE SOCIETE GENERALE S.A. CLASS A
RHM RHEINMETALL AG
KBC KBC GROUP N.V.
SDF K+S AG
ZAL ZALANDO SE
ISP INTESA SANPAOLO S.P.A.
GEBN GEBERIT AG
RWE RWE AG
BCP BANCO COMERCIAL PORTUGUES S.A.
VOW3 VOLKSWAGEN AG PREF
BKT BANKINTER SA
VLK VAN LANSCHOT KEMPEN NV CERT. OF SHS
UCG UNICREDIT S.P.A.
CABK CAIXABANK SA
MERLIN MERLIN PROPERTIES SOCIMI S.A.
INGA ING GROEP NV
SAN BANCO SANTANDER S.A.
HLAG HAPAG-LLOYD AG
UNI UNICAJA BANCO S.A.
BIM BIOMERIEUX SA
REY REPLY S.P.A.
BBVA BANCO BILBAO VIZCAYA ARGENTARIA S.A.
SAB BANCO DE SABADELL SA
ALG ALLEGRO.EU SA
UBS Group AG: 2 directors
A director at UBS Group AG sold 61,946 shares at 27.004CHF and the significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly s...
- Benoit Valleaux
- Steven Gould
ODDO : Sector multiples do not reflect the improved resilience of the ...
>What are the main lessons from Q4/FY 2023 earnings? - Q4 earnings release have confirmed our view on the sector detailed early December. We expected net interest income to be this year relatively flattish in Italy and Spain, to decrease on some names in the Benelux (ING) and to increase for French banks, which is consistent with 2024 outlook given by banks. We therefore did not play a country rotation in favour of North European banks vs South European banks, and we ...
CSGN CREDIT SUISSE GROUP AG
UBSN UBS GROUP AG
BNP BNP PARIBAS SA CLASS A
DBK DEUTSCHE BANK AG
CBK COMMERZBANK AG
PBB DEUTSCHE PFANDBRIEFBANK AG
GLE SOCIETE GENERALE S.A. CLASS A
KBC KBC GROUP N.V.
ISP INTESA SANPAOLO S.P.A.
BCP BANCO COMERCIAL PORTUGUES S.A.
BKT BANKINTER SA
VLK VAN LANSCHOT KEMPEN NV CERT. OF SHS
UCG UNICREDIT S.P.A.
CABK CAIXABANK SA
INGA ING GROEP NV
SAN BANCO SANTANDER S.A.
UNI UNICAJA BANCO S.A.
BBVA BANCO BILBAO VIZCAYA ARGENTARIA S.A.
SAB BANCO DE SABADELL SA
- Carole Braudeau
Credit Morning 03/01/2024
CNP enters into exclusive negotiations with La Mutuelle Générale IGT merges Global Gaming and PlayDigital (26% of EBITDA) with Everi Picard: Q3 under control with good cash generation and limited year-on-year increase in leverage TK Elevator launches a procedure to extend term loans B from 2027 to 2030>...
- Carole Braudeau
Morning Crédit 01/03/2024
Picard : un T3 sous contrôle avec une bonne génération de cash et un levier en hausse limitée sur un an IGT fusionne Global Gaming et PlayDigital (26% EBITDA) avec Everi CNP entre en négociations exclusives avec La Mutuelle Générale TK Elevator lance une procédure d’extension des term loans B de 2027 à 2030>...
- Fabian Semon
- Fabian Semon
- Roland Pfaender
- MBA
- CFA
- CCRA
- Steven Gould
UBS Group : UBS works through decisive restructuring and integration i...
>Q4 2023 results slightly shy of expectations and challenging 2024e to be expected - UBS reported a Q4 2023 underlying pre-tax result of $ 592m and thus modestly below the $ 667m consensus expectation. We have reviewed our estimate for UBS and have factored in a challenging year in 2024e marked by restructuring and integration challenges which should bear fruit thereafter. We forecast for the group underlying RoTE of 3.6% for 2024e followed by 8.3% and 11.9% for the ...
- Carole Braudeau
- Carole Braudeau
- Carole Braudeau
- Carole Braudeau
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