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Molson Coors Beverage reported a net margin of 8.17% and a return on equity of 9.34%, with quarterly revenue of $2.30 billion, falling short of analyst estimates. The company announced a quarterly dividend of $0.47, yielding 3.31%, and has a dividend payout ratio of 37.83%. Analysts have downgraded the stock to a "hold" rating, with an average target price of $62.71.
Kering appoints Pierpaolo Piccioli as the new artistic director of Balenciaga, while Casino faces ongoing debt concerns. UBS is likely to lose its initial battle against stricter prudential requirements in Switzerland, and Vodafone's results fall short of expectations despite a projected recovery. In North America, Moody's downgrades the credit ratings of major banks following the US credit rating downgrade.
BNP Paribas Asset Management has launched its first equally weighted ETF, the BNP Paribas Easy MSCI World Equal Weight Select UCITS ETF (WEWEU), which incorporates ESG exclusions and is listed on multiple European exchanges with a 0.20% ongoing charges ratio. The ETF tracks the MSCI World Equal Weighted Ex Business Involvement Screens Select index, applying an ESG screen to select companies based on their ESG scores. This launch follows a similar product from Invesco and will compete with the VanEck World Equal Weight Screened UCITS ETF, both priced at the same fee.
UniCredit's bid for Banco BPM faces uncertainty as the European Antitrust Authority extends its review to June 19, aligning with a June 23 deadline. The bank has requested a temporary suspension of its public exchange offer, while analysts speculate on potential withdrawal and relaunch. Meanwhile, Monte dei Paschi shares rose 3.9% amid investor anticipation of upcoming events, including Mediobanca's shareholders' meeting on June 16.
Deutsche Bank has raised its price target for Unicredit shares to EUR61.50 from EUR50.60, maintaining a Hold rating. This adjustment reflects Unicredit's strong financial performance, with projected net income exceeding EUR9.3 billion by 2025, achieved without major mergers or acquisitions. The bank's effective balance between declining net interest income and growing commission revenues has been highlighted, supported by insights from discussions with Unicredit's leadership.
UBS has raised its price target for Abercrombie & Fitch (ANF) to $130 from $115, maintaining a Buy rating, citing strong sales momentum for Hollister. Despite a projected earnings per share beat for Q1, there are concerns about potential fiscal 2025 guidance withdrawal due to U.S. tariff uncertainties. Analysts forecast an average target price of $117.28, indicating a 48.22% upside from the current price of $79.12, while Abercrombie reported a 9% increase in Q4 net sales and a record operating income of $741 million for the year.
Barclays raised its price target for Mondelez International from $71 to $74, maintaining an "overweight" rating, while Evercore ISI increased its target from $67 to $70 with an "outperform" rating. Currently, the stock has a consensus rating of "Moderate Buy" and an average target price of $70.55, with 13 buy ratings, eight holds, and one sell. Mondelez reported a quarterly EPS of $0.74, exceeding estimates, with revenues of $9.31 billion, reflecting a slight year-over-year increase.
The European Investment Fund (EIF) and BNP Paribas Leasing Solutions have signed a €200 million investment guarantee aimed at supporting SMEs and small mid-caps in France, Germany, Italy, and Spain. This initiative, backed by the InvestEU programme, focuses on financing projects that promote sustainability and combat climate change, including sustainable mobility and renewable energy. The partnership aims to enhance innovation and competitiveness among European SMEs while facilitating their transition to low-carbon models.
Crédit Agricole S.A., a leading European banking group and key supporter of the French economy, plans to redeem $1.5 billion of senior nonpreferred notes in June. The bank's net banking product is diversified across finance, retail banking, asset management, and specialized financial services, with significant operations in France and Italy. By the end of 2024, it managed EUR 868.1 billion in deposits and EUR 548.1 billion in credits.
Coller Capital has partnered with Deutsche Bank to offer the Coller Private Equity Secondaries Fund to qualified wealth management clients in Asia and select EMEA countries, managing over $40 billion in secondaries. The fund, with a minimum commitment of $50,000, provides access to liquidity in the private capital ecosystem.Meanwhile, RQI Investors launched a UCITS vehicle of its Global Value strategy, targeting UK, European, Singaporean, and Canadian investors, with an initial $50 million investment. This marks RQI's first international offering, building on a successful 16-year track record.
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