reports
- Carole Braudeau
Morning Crédit 30/10/2024
Première publication du groupe Mobilux (BUT/Conforama)Rexel : amende de 124 m EUR de la part de l’Autorité de la concurrence (prix dérogés)Kering : S&P a dégradé le rating à BBB+/stableSynlab : Elliott va devenir actionnaire d’Ephios, ouvrant la voie au rachat des minoritaires>...
- Carole Braudeau
Credit Morning 10/30/2024
Synlab: Elliott will become shareholder of Ephios, paving the way for a squeeze-out of minority holdersRexel: France’s competition authority fines Rexel € 124m (special price agreement mechanism)Kering: S&P downgrades rating to BBB+/stableFirst publication of the Mobilux Group (BUT/Conforama)>...
L’ORÉAL SUCCESSFULLY PRICES A 1.25 BILLION EURO DUAL TRANCHE BOND
L’ORÉAL SUCCESSFULLY PRICES A 1.25 BILLION EURO DUAL TRANCHE BOND NEWS RELEASE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, JAPAN OR AUSTRALIA L’ORÉAL SUCCESSFULLY PRICES A 1.25 BILLION EURO DUAL TRANCHE BOND Clichy, 29 October 2024 – L’Oréal today announces that it has successfully priced a public bond offering for an aggregate nominal amount of €1.25 billion. The offering is composed of two tranches: - A €750 million 3-year fixed rate bond paying a coupon of 2.50 % p.a. - A €500 million 7-year fixed rate bond paying a co...
L’ORÉAL RÉALISE AVEC SUCCÈS UNE ÉMISSION OBLIGATAIRE EN DEUX TRANCHES ...
L’ORÉAL RÉALISE AVEC SUCCÈS UNE ÉMISSION OBLIGATAIRE EN DEUX TRANCHES POUR UN MONTANT TOTAL DE 1,25 MILLIARD D’EUROS COMMUNIQUÉ NE PAS DIFFUSER, PUBLIER OU DISTRIBUER, DIRECTEMENT OU INDIRECTEMENT, AUX ETATS-UNIS, AU CANADA, AU JAPON OU EN AUSTRALIE L’ORÉAL RÉALISE AVEC SUCCÈS UNE ÉMISSION OBLIGATAIRE EN DEUX TRANCHES POUR UN MONTANT TOTAL DE 1,25 MILLIARD D’EUROS Clichy, le 29 octobre 2024 – L’Oréal a procédé aujourd’hui avec succès au placement d’une émission obligataire d’un montant nominal total de 1,25 milliard d’euros. L’offre est composée de deux tranches :- Une tranche de 750...
- Research Department
INFORME DIARIO 30 0CTUBRE + RDOS. ESPAÑA Y EUROPA 3T’24. PREVIEWS (ANÁ...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: AENA, ENCE, ENDESA, FERROVIAL, GREENING, INDRA, METROVACESA, PUIG BRANDS, REDEIA, UNICAJA. EUROPA: BASF, KERING, SCHNEIDER ELECTRIC, VOLKSWAGEN. 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 mercado al son de los beneficios empresariales ...
- Maissa Keskes
- Stephane Houri
- Thomas Zlowodzki
ODDO BHF Small & MIDCAP MORNING NEWS - 10/28/2024
Last Friday, MEPs scrapped the exceptional additional corporate tax proposed by the French government in its PLF 2025. In our view, it would be risky to claim victory prematurely, and this provision could make a comeback during the remainder of the budget debate, in the form initially proposed by the government or in another form. We remain cautious on French equities, as the budget debate remains chaotic and fails to live up to the stakes, as underlined by Moody's downgrade of the so...
CA CARREFOUR SA
MC LVMH MOET HENNESSY LOUIS VUITTON SE
GTT GAZTRANSPORT & TECHNIGAZ SA
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
POM PLASTIC OMNIUM SE
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
FNAC FNAC DARTY SA
KER KERING SA
TPE PVA TEPLA AG
01913 PRADA S.P.A.
SFZN SIEGFRIED HOLDING AG
MONC MONCLER SPA
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
WLN WORLDLINE SA
NEXI NEXI S.P.A.
HGEA HGEARS AG
EXENS EXOSENS
- Oliver Metzger
- Thomas Zlowodzki
- Wim Gille
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 28/10/2024
Les députés ont supprimé vendredi dernier la surtaxe d’Impôt sur les Sociétés proposée par le gouvernement français dans son PLF 2025. Il serait, selon nous, hasardeux de crier victoire trop tôt, et cette disposition pourrait faire son retour durant la suite du débat budgétaire, sous la forme initialement proposée par le gouvernement ou sous une autre. Nous restons prudents sur les actions françaises, le débat budgétaire restant chaotique et pas à la hauteur des enjeux, comme le souli...
WCH WACKER CHEMIE AG
GALP GALP ENERGIA SGPS SA CLASS B
CA CARREFOUR SA
MC LVMH MOET HENNESSY LOUIS VUITTON SE
KPN ROYAL KPN NV
SK SEB SA
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
DAI DAIMLER AG
RCO REMY COINTREAU SA
EL ESSILORLUXOTTICA SA
PHIA KONINKLIJKE PHILIPS N.V.
BRBY BURBERRY GROUP PLC
KER KERING SA
ENI ENI S.P.A.
01913 PRADA S.P.A.
ELI ELIA GROUP SA/NV
MONC MONCLER SPA
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
WLN WORLDLINE SA
NEXI NEXI S.P.A.
EPI A EPIROC AB
P911 DR. ING. H.C. F. PORSCHE AKTIENGESELLSCHAFT
SGSN SGS SA
- Oliver Metzger
- Thomas Zlowodzki
- Wim Gille
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/28/2024
Last Friday, MEPs scrapped the exceptional additional corporate tax proposed by the French government in its PLF 2025. In our view, it would be risky to claim victory prematurely, and this provision could make a comeback during the remainder of the budget debate, in the form initially proposed by the government or in another form. We remain cautious on French equities, as the budget debate remains chaotic and fails to live up to the stakes, as underlined by Moody's downgrade of the so...
WCH WACKER CHEMIE AG
GALP GALP ENERGIA SGPS SA CLASS B
CA CARREFOUR SA
MC LVMH MOET HENNESSY LOUIS VUITTON SE
KPN ROYAL KPN NV
SK SEB SA
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
DAI DAIMLER AG
RCO REMY COINTREAU SA
EL ESSILORLUXOTTICA SA
PHIA KONINKLIJKE PHILIPS N.V.
BRBY BURBERRY GROUP PLC
KER KERING SA
ENI ENI S.P.A.
01913 PRADA S.P.A.
ELI ELIA GROUP SA/NV
MONC MONCLER SPA
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
WLN WORLDLINE SA
NEXI NEXI S.P.A.
EPI A EPIROC AB
P911 DR. ING. H.C. F. PORSCHE AKTIENGESELLSCHAFT
SGSN SGS SA
- Maissa Keskes
- Stephane Houri
- Thomas Zlowodzki
ODDO BHF Small & MIDCAP MORNING NEWS - 28/10/2024
Les députés ont supprimé vendredi dernier la surtaxe d’Impôt sur les Sociétés proposée par le gouvernement français dans son PLF 2025. Il serait, selon nous, hasardeux de crier victoire trop tôt, et cette disposition pourrait faire son retour durant la suite du débat budgétaire, sous la forme initialement proposée par le gouvernement ou sous une autre. Nous restons prudents sur les actions françaises, le débat budgétaire restant chaotique et pas à la hauteur des enjeux, comme le souli...
CA CARREFOUR SA
MC LVMH MOET HENNESSY LOUIS VUITTON SE
GTT GAZTRANSPORT & TECHNIGAZ SA
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
POM PLASTIC OMNIUM SE
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
FNAC FNAC DARTY SA
KER KERING SA
TPE PVA TEPLA AG
01913 PRADA S.P.A.
SFZN SIEGFRIED HOLDING AG
MONC MONCLER SPA
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
WLN WORLDLINE SA
NEXI NEXI S.P.A.
HGEA HGEARS AG
EXENS EXOSENS
- Cedric Rossi
- Clement Genelot
- Loic Morvan
- Philippine Adam
On the shelves now: Consumer Weekly #45
In this Consumer Weekly newsletter, we provide a brief overview of the key factors affecting our Consumer coverage, from Luxury & Consumer goods to Retail & E-commerce and Food & Ingredients. This week we look at spending patterns in Europe, which show a clear reallocation towards the f
- Jean Danjou
ODDO : Monday review – Luxury sector
>Topic of the week: a new cop in town - In a decision announced on Thursday night last week, the US justice has sided with the FTC ruling against the proposed merger between Tapestry (owner of Coach, Kate Spade and Stuart Weitzman) and Capri (owner of Michael Kors, Versace and Jimmy Choo). What the ruling implies is that fashion and luxury are relevant terrain for the antitrust authorities, at least in the US and that limits to concentration could apply there to marke...
- Jean Danjou
ODDO : Monday review – Luxury sector
>Topic of the week: a new cop in town - In a decision announced on Thursday night last week, the US justice has sided with the FTC ruling against the proposed merger between Tapestry (owner of Coach, Kate Spade and Stuart Weitzman) and Capri (owner of Michael Kors, Versace and Jimmy Choo). What the ruling implies is that fashion and luxury are relevant terrain for the antitrust authorities, at least in the US and that limits to concentration could apply there to marke...
- Ahmed Ben Salem
AC ACCOR SA
EQNR EQUINOR ASA
DG VINCI SA
ADP AEROPORTS DE PARIS SA
AAL ANGLO AMERICAN PLC
KNEBV KONE OYJ CLASS B
ORA ORANGE SA
SK SEB SA
RMS HERMES INTERNATIONAL SCA
DAI DAIMLER AG
RCO REMY COINTREAU SA
SW SODEXO SA
ENI ENI S.P.A.
SAN SANOFI
SAF SAFRAN S.A.
SY1 SYMRISE AG
BOL BOLLORE SA
BKT BANKINTER SA
MOCORP METSO OUTOTEC OYJ
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
ULA UNIBAIL-RODAMCO-WESTFIELD SE STAPLED SECS CONS OF 1 SH UNIBAIL RODAMCO + 1 SH WFD UNIB ROD
SIK SIKA AG
DSY DASSAULT SYSTEMES SA
EPI A EPIROC AB
SGSN SGS SA
FER FERROVIAL SA
- Ahmed Ben Salem
AC ACCOR SA
EQNR EQUINOR ASA
DG VINCI SA
ADP AEROPORTS DE PARIS SA
AAL ANGLO AMERICAN PLC
KNEBV KONE OYJ CLASS B
ORA ORANGE SA
SK SEB SA
RMS HERMES INTERNATIONAL SCA
DAI DAIMLER AG
RCO REMY COINTREAU SA
SW SODEXO SA
ENI ENI S.P.A.
SAN SANOFI
SAF SAFRAN S.A.
SY1 SYMRISE AG
BOL BOLLORE SA
BKT BANKINTER SA
MOCORP METSO OUTOTEC OYJ
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
ULA UNIBAIL-RODAMCO-WESTFIELD SE STAPLED SECS CONS OF 1 SH UNIBAIL RODAMCO + 1 SH WFD UNIB ROD
SIK SIKA AG
DSY DASSAULT SYSTEMES SA
EPI A EPIROC AB
SGSN SGS SA
FER FERROVIAL SA
- Cedric Rossi
BIC: Play the gradual US recovery
Following the company's margin guidance upgrade and conference call, we increase our FY24-26 estimates by 4% on average and lift our PT to EUR73 vs. EUR68 previously. Normalising trends in North America and encouraging trends in Human Expression ahead of back-to-school in key markets such as Brazil
- Cedric Rossi
Groupe SEB: Q3 sales beat showing the beauty of its diversified busine...
Indeed, Groupe SEB posted stronger-than-expected LFL growth in Q3 (+4% vs. CSSe of +3.1%). This good performance was thanks to a strong acceleration in Consumer, which more than offset a steep decline in Professional on top of a challenging comparison base. The 70bp-erosion in Q3 ORfA margin result
- Loic Morvan
- Paul Rouviere
Hermès confirms its resilient profile in Q3
Hermès' Q3 sales grew 11.3%, slightly above consensus (+10.5%), again highlighting its resilient profile in a very challenging luxury environment whereas most of the group's peers reported sales declines over the period. We are making no change to our FY organic sales growth estimate of 12.8%. Buy
- Jean Danjou
Hermès International : Toujours en croissance robuste malgré la Chine
>Asie à +1% au T3 mais croissance d’ensemble au-delà de 11% - Sur la base d’un CA T3 publié à 3 704 M€ (nous attendions 3 647 M€ et le consensus Visible Alpha était à 3 692 M€), la croissance y/y tcc du groupe ralentit à 11.3% sur le trimestre après un T2 à 13.3% mais reste confortable au vu d’un secteur à l’activité probablement en recul de 2%/3% sur la période. La maroquinerie progresse de 14% (nous attendions +11.8%), ce qui donne, pour le reste du portefeuille, un...
- Jean Danjou
Hermes International : Still showing robust growth despite China
>Asia at +1% in Q3, but overall growth above +11% - Based on Q3 sales reported at € 3,704m (we were expecting € 3,647m and the Visible Alpha consensus was at € 3,692m), the group’s y-o-y growth cc slowed to 11.3% over the quarter after a Q2 at 13.3% but remained comfortable in view of sector activity likely down -2%/-3% over the period. Leather goods posted growth of 14% (we were expecting +11.8%), which for the rest of the portfolio gives growth that is weaker but st...
- Konrad Zomer
AI AIR LIQUIDE SA
EDEN EDENRED SA
EQNR EQUINOR ASA
CA CARREFOUR SA
BVI BUREAU VERITAS SA
BN DANONE SA
KNEBV KONE OYJ CLASS B
RNO RENAULT SA
ORA ORANGE SA
SSAB A SSAB AB CLASS A
ULVR UNILEVER PLC
SW SODEXO SA
LSEG LONDON STOCK EXCHANGE GROUP PLC
BEI BEIERSDORF AG
KER KERING SA
DTE DEUTSCHE TELEKOM AG
WPP WPP PLC
MOCORP METSO OUTOTEC OYJ
ASSA B ASSA ABLOY AB CLASS B
IBE IBERDROLA SA
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
ERF EUROFINS SCIENTIFIC SOCIETE EUROPEENNE
DSY DASSAULT SYSTEMES SA
AZE AZELIS GROUP NV
SHEL SHELL PLC
ATCO A ATLAS COPCO AB
ML COMPAGNIE GENERALE DES ETABLISSEMENTS MICHELIN
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.