BIC: US consumers already burdened by tariffs

Ahead of the reciprocal tariffs implemented in early April, major US retailers such as Walmart, Costco and Target have already indicated a consumer pullback amid tariff uncertainty and early signs of deteriorating macro trends. Despite its strong value-for-money positioning, BIC is not immune to th

Credit Morning 04/09/2025

Conti aims ConiTech sale or IPO; positive for IHO|

Morning Crédit 09/04/2025

Conti aims ConiTech sale or IPO; positive for IHO|

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 04/07/2025

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 07/04/2025

On the shelves now: Consumer Weekly #65

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 the impacts of US tariffs and potential retaliation strategies by foreign

Carrefour : Q1 expected to be under pressure, still no momentum

Carrefour : T1 2025 attendu sous pression, toujours pas de momentum

On the shelves now: Consumer Weekly #64

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 accelerating trends in European corporate earnings relative to those in t

Credit Morning 03/27/2025

OpenAI is said to be close to finalizing a $ 40bn funding round led by SoftBank Group (Bloomberg)|Emeria: disposals more than necessary after a worrying Q4|URW adjusts its hybrid structure with a new issue and a buyback offer|

Morning Crédit 27/03/2025

OpenAI serait proche de finaliser une levée de fonds de 40 mds USD mené par SoftBank Group (Bloomberg)|Emeria : les cessions plus que nécessaires après un T4 inquiétant|URW ajuste sa structure d’hybrides avec une nouvelle émission et une offre de rachat|

On the shelves now: Consumer Weekly #63

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 how sub-sectors within our Consumer coverage have fared since the beginni

US eyewear: black tariff clouds looming over consumers

In our last report a month ago ("Trumping tariffs"), we were relatively optimistic as Donald Trump had only added a 10% tariff on Chinese imports and implemented a 30-day pause on tariffs for imports from Mexico and Canada. However, the situation has darkened since an additional 10% tariff has been

On the shelves now: Consumer Weekly #62

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 how Trump's trade war is negatively impacting US consumer sentiment. Happ

Credit Morning 03/14/2025

IAG: rating upgraded to BBB by S&P.|

Morning Crédit 14/03/2025

IAG: rating upgraded to BBB by S&P.|

Credit Morning 03/10/2025

Kantar could sell Numerator this year according to the Financial Times and Sky News|

Morning Crédit 10/03/2025

Kantar pourrait vendre Numerator cette année selon le FT et Sky News|

On the shelves now: Consumer Weekly #61

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 how Trump's hectic trade policy impacts US consumer sentiment. Happy read

Carrefour: further deterioration in the French franchising crisis

A week after our downgrade to Sell in view of the unsustainable nature of three unsolved French topics (price positioning, franchising crisis, lease-management), the franchising crisis has hit a new stage, with unhappy franchisees launching an initiative to bypass Carrefour for part of their procur