Spanish regional banks: from reflation to deflation trade
In early 2018, we warned investors (see our presentation “_Reflation trade and other myths_”) that t...
LSEG/Refinitiv: Into a new dimension?
LSEG would acquire the company for a $27bn enterprise value. We have been very positive on LSE...
Better value in listed equities
Institutional money’s latest fad after a crowded drive for infrastructure assets is to pile up again into...
AB Inbev: The plan B money raiser
The market applauded ABI’s Australian divestment ($11.3bn), and rightly so. AB Inbev reacted quic...
New entrant puts pressure on European gas markets
Additional gas supply coming from the US distorts an already tight summer market. Norway and Ru...
Accor, geographic winner
Four reasons to be positive on Accor: Balanced geographical presence, avoiding all the problematic ...