MedTech, which has historically been a defensive sector, has once again stood its ground even as broader markets have been rattled by the pandemic. But, digging into the details throws…

The Tesco Board is in the middle of a governance crisis for having dropped Ocado from peer performance metrics designed to measure that of Tesco’s top brass and their bonuses….

The COVID-19 was a costly event for investors in the insurance industry. The sector was among the most penalised sectors and many operators were encouraged by regulators to cut or,…

On March 23, we provided a sector review of earnings revisions pinpointing 2020 earnings down 32% on 2019 after a fast-forward 39% correction. The 2020 earnings expectations then were downgraded from €690bn…

While the surge in ESG investment has pushed the sector to record valuation levels, the health crisis has broken this trend. Due to containment, the sector is now facing a…

We look again at the list of 105 non-investment grade stocks that we highlighted back in late March as indicative of sorry news to come. That list was then expanding…

April 30, 2020 – The European telecom sector should stay healthier than almost any industry in this COVID-19 pandemic crisis. Telcos are also defensive stocks par excellence as they proved…

Fear is back in business as indicated by the rising number of stocks whose share price is in negative momentum territory (red line in chart below). Whilst the current proportion…

The ECB’s temporary capital relief illustrates perfectly the philosophy of the new bail-in regime. As long as it is only temporary, it is neutral from a valuation standpoint. On 12…

2020 should be at least equivalent to the severe 2009. Macros deriving from Coronavirus will destabilize both voids and rents leading to values decreasing massively in FY20-21. None of the…