Credit Morning 07/02/2025

Afflelou: the Afflelou family grows its stake but the company announced a double dividend recap|Sabadell sells TSB to Santander for £2.9 bn|

Morning Crédit 02/07/2025

Afflelou : la famille se renforce au capital mais le groupe réalise un double dividend recap|Sabadell cède TSB à Santander pour 2.9 mds GBP|

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 06/25/2025

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 25/06/2025

Zalando : Q2 due 6 August – Sales and EBIT to grow as planned

INDITEX: 1Q’25 RESULTS (ANÁLISIS BANCO SABADELL)

1Q'25 vs. 1Q'24 Results Sales: € 8.274 Bn (+1.5% vs. +3.1% BS(e) and +2.8% consensus); EBIT: € 1.641 Bn (+0.3% vs. +1.8% BS(e) and +0.9% consensus); Net Profit: € 1.305 Bn (+0.9% vs. +0.8% BS(e) and +0.8% consensus);

INDITEX: RDOS. 1T’25 (ANÁLISIS BANCO SABADELL)

Rdos. 1T'25 vs 1T'24: Ventas: 8.274 M euros (+1,5% vs +3,1% BS(e) y +2,8% consenso); EBIT: 1.641 M euros (+0,3% vs +1,8% BS(e) y +0,9% consenso); BDI: 1.305 M euros (+0,9% vs +0,8% BS(e) y +0,8% consenso).

IBERIAN DAILY 11 JUNE (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: CHANGES IBEX 35, INDITEX, SACYR. Flat stock markets Stock markets remained calm, awaiting relevant macroeconomic data (May’s inflation will be released today in the US) or newsflow on the negotiations with China. In the STOXX 600, the best-performing sectors were Autos and Energy, whereas Banks and Financial Services ended with the biggest drops. On the macro side, in the euro zone, June’s Sentix index climbed more than expected to the highest level in one year, also providing the...

INFORME DIARIO 11 JUNIO (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: CAMBIOS IBEX, INDITEX, SACYR. Bolsas planas Continuó la tregua una jornada más, con pocos movimientos a la espera de datos macro relevantes (hoy se publica la inflación de mayo en EE.UU.) o novedades en las negociaciones con China. En el STOXX 600 los mejores sectores en positivo fueron Autos y Energía, frente a Bancos y Servicios Financieros que fueron los que más cayeron. Por el lado macro, en la Eurozona el índice Sentix de junio repuntó más de ...

IBERIAN DAILY 10 JUNE (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: AMPER, ARCELORMITTAL, CAF. All eyes on US-China negotiations The week kicked off without relevant macroeconomic data, with European stock markets sliding slightly except the Ibex that ended with sight gains. In the STOXX 600, the best-performing sectors were Travel&Leisure and Real Estate, whereas defensive industries such as Household and Utilities ended with the biggest drops. On the macro side, the Treasury Secretary S. Bessent and the Trade Secretary H. Lutnick viewed the mee...

IBERIAN DAILY 06 JUNE (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: ELECTRICITY SECTOR, INDITEX. IBEX reaches 14,200 Stock markets ended stable in a session in which the ECB followed the expected script. In the STOXX 600, the best-performing sectors were cyclicals like Basic Materials and Construction, whereas Consumer Goods and Chemicals ended with the biggest drops. On the macro side, in Germany industrial orders rose unexpectedly in April. In the euro zone, the June ECB meeting brought a -25bps rate cut, as expected, and C. Lagarde suggested th...

INFORME DIARIO 06 JUNIO (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: INDITEX, SECTOR ELÉCTRICO. EUROPA: AIRBUS, KERING. El Ibex alcanza los 14.200 puntos Las bolsas terminaron estables en una sesión en que el BCE cumplió con el guion esperado. En el STOXX 600 los mejores sectores fueron cíclicos como R. Básicos y Construcción, mientras que B. Consumo y Químicas terminaron con las mayores cesiones. Por el lado macro, en Alemania los pedidos industriales sorprendieron avanzando en abril de forma inesperada. En la Euroz...

Suspension of Coverage

From 2nd of June we are suspending coverage of companies below due to a reallocation of resources. Our prior estimates should no longer be used as an indicator for the company moving forward.ADIDASBEIERSDORFCARREFOURDELIVERY HEROESSILORLUXOTTICAHELLOFRESHHermès InternationalHUGO BOSSINTERPARFUMSJUS

On the shelves now: Consumer Weekly #71

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 tariffs have dominated recent earnings calls over other topics such a

Zalando: persistent deflationary concerns overshadow good Q1 and curre...

Post a good set of Q1 results with reassuring current trading comments, we have left our estimates unchanged with a EUR39 PT. Persistent risks concerning deflationary pressures in the European fashion sector in H2 continue to weigh on Zalando's ST rerating despite an appealing MT equity story based

Credit Morning 05/06/2025

Zalando: Q1 results above expectations and guidance confirmed|SoftBank Group : OpenAI abandons its plan to become a for-profit company|

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 05/06/2025

Morning Crédit 06/05/2025

Zalando : résultats T1 supérieurs aux attentes et guidances confirmées|SoftBank Group : OpenAI abandonne son projet de devenir une société à but lucratif|

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 06/05/2025

Zalando : Q1 slightly above, FY 2025 outlook confirmed