Lucror Analytics - Morning Views Europe

In today's Morning Views publication we comment on developments of the following high yield issuers: Intrum, Nimlas, TeamSystem, Altice France (SFR), Almaviva, Urbaser, Telecom Italia, Paprec Group, Selecta, Cirsa, Vedanta Resources, Cheplapharm, Kem One

China Internet: 618 Festival – Evolving consumer trends and continued ...

The national subsidies programme continued to reinforce the consumption trend of “value-based substitution” during the 618 festival. While the share of online vs offline spending remained stable, emerging channels are creating new growth opportunities. We believe the consumption momentum will be shaped by: a) impact from the temporary suspension of the national subsidies programme in five provinces, and b) changes in the food delivery competitive landscape. Maintain MARKET WEIGHT.

Lucror Analytics - Morning Views Europe

In today's Morning Views publication we comment on developments of the following high yield issuers: Loewen Play, TeamSystem, Eircom, United Group, Telecom Italia, Cheplapharm, Virgin Media O2, Tata Motors, Benteler International, Lottomatica (formerly Gamenet), Crown Holdings

China Internet: JD’s new initiative in on-demand delivery is reshaping...

Market concerns persist over the viability of JD’s entry into the food delivery space and the implications of the increasingly competitive landscape. In response to the heightened rivalry, food delivery companies have ramped up their investment, weighing on near-term profitability. By leveraging high-frequency food delivery scenarios to channel traffic toward e-commerce categories, JD and Alibaba have effectively enhanced conversion efficiency during the 618 campaign. Maintain MARKET WEIGHT.

Telecom Italia Spa: 1 director

A director at Telecom Italia Spa bought 100,000 shares at 0.380EUR and the significance rating of the trade was 54/100. 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 cl...

Europe HY Trade Book - May 2025 - Lucror Analytics

The Europe HY Trade Book for May 2025 includes current trade recommendations drawn from our European HY coverage universe, along with relative-value scatter plots and tables by industry. We also discuss the US tariff situation and key related impacts.

Coffee, Croissants & Credit/Vodafone, Telecom Italia

Vodafone FY25 results disappoint on performance in Germany. Telecom Italia's ratings on positive outlook with Fitch

Lucror Analytics - Morning Views Europe

In today's Morning Views publication we comment on developments of the following high yield issuers: TK Elevator, Trivium, SPIE, Ahlstrom, NewDay, Italmatch Chemicals, Manuchar, Asmodee, Allwyn (formerly Sazka), Sunrise, Telecom Italia, Altice France (SFR), Teva, Borr Drilling, AMS Osram, Victoria, Cerba, EVOCA, Solenis

Credit Morning 05/16/2025

Reportedly, Bayer thinks about sending Monsanto into chapter 11 to solve litigation|Teva: Moody’s upgrades the rating to Ba1/stable from Ba2/positive|Techem Q2 25 call notes: Likely no imminent call of EUR 750 Temporary Notes|Crédit Logement released its 2024 results|BFCM announces the call for its Perp CMS on 16/06/2025|

Morning Crédit 16/05/2025

Reportedly, Bayer thinks about sending Monsanto into chapter 11 to solve litigation|Teva : Moody’s rehausse le rating de Ba2/positive à Ba1/stable|Techem Q2 25 call notes: Likely no imminent call of EUR 750 Temporary Notes|Crédit Logement a publié ses résultats 2024|BFCM annonce le call de son Perp CMS à la date du 16/06/2025|

Coffee, Croissants & Credit/RWE, Terna, Telecom Italia and Gecina

Utilities - RWE: Weak 1Q25 performance. Terna: 1Q25 results meet estimates

Lucror Analytics - Morning Views Europe

In today's Morning Views publication we comment on developments of the following high yield issuers: Vallourec, Aggreko, TK Elevator, Aston Martin, Techem, Bite, Virgin Media O2, NewDay, Sunrise, Digi Communications, Telecom Italia, Banijay, Liberty Global, Solenis, Air France-KLM, Flos B&B Italia (formerly International Design Group), Forvia (formerly Faurecia), Flora Food Group (formerly Upfield), Premier Foods, The Very Group, Lecta, Air Baltic, Teva, Standard Profil

JD 1Q25 Results: JD Retail Could Remain Resilient in 2Q and FY25

What’s new: JD’s reported 1Q25 results that were above consensus and our expectations. JD Retail could remain resilient where segment revs could grow by double-digit YoY in 2Q and FY25. The improvement in JD Retail margins could be partly offset by continued investments in food delivery. We maintain our PT at USD70. Analysts: Jin Yoon

JD.com (9618 HK): 1Q25: Strong earnings beat; intact 2025 outlook; vag...

JD’s 1Q25 results came in above expectations. Revenue increased 16% yoy to Rmb301b, 3-4% above our and consensus estimates, in line with its previously guided double-digit growth. Non-GAAP operating profit rose 31% yoy to Rmb11.7b, translating to a non-GAAP operating profit margin of 3.9%. Non-GAAP net profit grew 43% yoy to Rmb12.8b. Adjusted net margin jumped 1ppt yoy to 4%. Maintain BUY with a lower target price of HK$185.00 (US$49.00).

Greater China Daily: Tuesday, May 14, 2025

KEY HIGHLIGHTS Results JD.com (9618 HK/BUY/HK$137.00/Target: HK$185.00) JD’s 1Q25 results came in above expectations. Revenue increased 16% yoy to Rmb301b, 3-4% above our and consensus estimates, in line with its previously guided double-digit growth. Non-GAAP operating profit rose 31% yoy to Rmb11.7b, translating to a non-GAAP operating profit margin of 3.9%. Non-GAAP net profit grew 43% yoy to Rmb12.8b. Adjusted net margin jumped 1ppt yoy to 4%. Maintain BUY with a lower target price of HK$1...

Lucror Analytics - Morning Views Europe

In today's Morning Views publication we comment on developments of the following high yield issuers: Sappi, Telecom Italia, Lottomatica (formerly Gamenet), Nomad Foods (Iglo), Novelis, Recordati, Gestamp

Credit Morning 05/08/2025

Branicks Q1 25 results: Further increase in vacancy; fundamentally not improving|Teva: Q1 2025 results up slightly. Strong momentum in innovative medicines and the new efficiency programme lend credibility to the 2027 guidance.|TPG steps away from Techem acquisition; documentation subject to special call|Banco BPM reports solid Q1 performance|

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 05/08/2025