Analysis: Stocks

Melia Hotels International: Cuban connectivity collapse vs. Spanish yield alpha

Latest Meliá is currently navigating a cross-regional valuation tug-of-war. On one hand, its Cuban operations have deteriorated from a structural drag into an acute operational paralysis following a...

Glencore: Very strong H2 recovery ensured a healthy 2025

Earnings/Sales ReleasesThanks to a strong rebound in H2, after H1 results missed expectations, Glencore reported healthy 2025 results. There were positives in both Mining and Trading. However,...

BAE Systems: FY25: Execution holds, backlog at record high

Earnings/Sales releases BAE delivered what it promised in FY25. Results came in broadly in line with expectations and slightly ahead of management's own guidance. Cash generation was strong, and the...

Genmab: 2025 miss and cautious 2026 targets erode investor confidence

Earnings/Sales releases Genmab's full-year 2025 results showed both sales and adjusted operating profit falling short of market expectations. Despite this, double-digit sales growth was driven by...

EFG International: Shadows from the past tarnish the results

Earnings/Sales releases The bank's solid operational performance was overshadowed by a significant legal provision related to a money laundering scandal. Although core activities remained resilient,...

WPP collapses onto its foundations

A changing of the guard has been sealed at the former global advertising leader, which is slowly fading into history after leaving London's FTSE 100 index last December.

Emeis: Operational beat and deleveraging milestones tempered by cautious 2026 guidance

Earnings/sales releases Emeis delivered a robust operational recovery in 2025, characterised by EBITDAR growth that exceeded management guidance and a further strengthened balance sheet, followed by...

Havas surprises the market

Since its independent listing and its separation from Vivendi, two major issues have weighed on Havas' stock valuation.

Vicat: FY 2025: Stability rather than acceleration

Significant news Vicat's results are solid, but the engine is uneven: the group is being carried by Egypt, Turkey and Brazil, while its two core profit pools, France and the US, are still waiting for...

M6-metropole Television: A resilient end of year overshadowed by Stephane Plaza impairment

Earnings/Sales releases M6 reported mixed FY25 results with good resilience in Advertising despite the difficult political environment, but missed on profitability due to a €35m impairment on the...

Castellum: "Leasing, leasing and leasing"

Earnings/Sales releases “Leasing, leasing, and leasing” is the mantra of the new management team. The portfolio’s value declined in Q4 25 due to pressures from medium-term rent and vacancy...

CATL Packs Energy into Earnings Narrative

Contemporary Amperex Technology has been on a growth trajectory, with shares striding higher as a strong quarter underscored resilient growth. Revenue climbed on healthy orders and expanding EV and...

Operational Leverage Lifts RAK Properties Margins

RAK Properties heads into the new year with momentum: its shares have quietly edged up as earnings improve, powered by handover-led revenue, brisk unit sales and welcomed launches. Hospitality and...

Icade: First stabilisation in 2026?

Earnings/Sales releases Icade anticipates FFO bottoming in 2026, thus suggesting a notable improvement in residential development contributions. However, Property activities, particularly office in...

Mercialys: Cash dividend first.

Earnings/Sales releases Organic growth at the topline level persists, but it is insufficient to ensure robust FFO per share growth in FY 26. In this context, cash dividends remain central to the...

Antofagasta: 2025 was extraordinarily euphoric; now time for reality check

Earnings/Sales Releases Even after ‘record' and extraordinary 2025 operating results, markets are disappointed, with Antofagasta’s shares falling c.7%. While the results in isolation seem solid,...

L’Oréal: Luxury skincare crowding limits line of sight

earnings/sales releases L’Oréal delivered FY25 results broadly in line with the top-line but ahead on margins. Strong execution in Dermatological Beauty, Professional Products and Emerging Markets...

NN Group: FY25 results: OCG beats, capital strength reinforced

Significant news NN Group reported solid FY25 results, with operating capital generation significantly above expectations, although partly supported by non-recurring elements. Commercial momentum...

DKSH: APAC presence drives growth

Earnings/Sales Releases DKSH's FY25 result has been well received, with the share price rising ~7% on strong core EBIT growth. Sales and EBIT growth at CER exceeded expectations. Sales were supported...