Saudi Aramco, the giant state-owned oil company, is now listed since 11/12  on  the Riyadh’s Tadawul Exchange. With only 1.5% up for sale, the IPO raised a jaw-dropping $25.6bn and…

A number of initiatives taken by the Chinese government to strengthen its pharmaceutical sector have started to bear fruit – Beigene’s ‘zanubrutinib’ became the first innovative drug by a Chinese…

Roche is worth €233bn, only second to Nestlé in the European contest for the largest market caps. The six other big Pharma companies (including Bayer) will bring the total sector…

FDJ is a great firm. The French state is charging too high a price for the privilege of accessing a monopoly. The placing syndicate would do well to cut the…

While we harbour serious worries about the impact of negative rates on the good health of life insurers, we have no such qualms when it comes to Reinsurers. Their high-quality portfolios…

AlphaValue has conducted this study to highlight the main challenges and opportunities faced by the 5G initiators, ahead of a global adoption cycle. Key findings: -5G will bring about a…

Some news about the Cities of Paris and London’s Office markets, following the aborted WeWork’s IPO and the release of end market figures (Immostat, Paris, and Savills, London). City of…

The French parliament adopted last week new energy commitments for the next decade. France is now on board; it has joined the increasing list of European countries targeting to be…

Last month’s powerful rotation away from defensives into risk/ value/ cyclicals has shaken up sectors’ upside potentials quite substantially. Here is a summary view of where the upside potential by…

With a market cap about to overtake the €300bn mark, Nestle has become an issue for European equity markets. Nestle trades at 25.5x, presumably still an acceptable P/E. The issue…