Refine by sector
Latest articles in Europe
Weekend Reading / Global

Mapping the digital behaviour of emerging market consumers

To answer these questions, we surveyed 900 individuals across 14 emerging markets... Two-thirds of our respondents access social media at least daily; very few emerging market adults are not plugged into their social media accounts. Indonesia: Ride-h...
Tellimer Research Rahul
Rahul Shah @ Tellimer Research 16 October 2021
Mapping the digital behaviour of emerging market consumers
Mapping the digital behaviour of emerging market consumers


The Low Volatility factor has generated stellar abnormal returns over the last decades. Current factor valuations are expensive compared to historical valuations. Factor volatility is at record lows and will likely surprise investors going forward.
FactorResearch Nicolas
Nicolas Rabener @ FactorResearch 15 October 2021

Alrosa: 3Q21 trading update – Broadly in line with expectations; Neutral-to-positive

ALROSA (ALRS.RX, O/W, RUB 159.1/share) reported its 3Q21 operational update. Retail sales at Hong Kong-based jeweler Chow Tai Fook rose 56% y/y in the second fiscal quarter as consumer demand was strong. We reiterate our positive view on the stock. D...
Alfa Boris
Boris Krasnozhenov @ Alfa 15 October 2021

X5 Retail Group: 3Q21 trading update – Moderately positive

X5 (FIVE LI / FIVE RX: O/W; TP $40.4/RUB3,031) reported its 3Q21 trading update. The sustainability of the sales growth at 10%+ is supportive for the stock (the current Bloomberg consensus anticipates 10.1% y/y revenue growth in 2021 and our estimate...
Alfa Evgeniy
Evgeniy Kipnis @ Alfa 15 October 2021

Sector Flash - Real Estate/European real estate: Green bond issuance skyrockets this year

YTD, more than EUR 20.2bn in bonds have been issued in the European real estate segment; hence, the issuance volume has more than doubled from full-year 2020, outperforming issuance growth in other segments of the market. The top-5 issuers of sustain...
UniCredit Natalie
Natalie Tehrani Monfared @ UniCredit 15 October 2021

Sector Report - Automobiles & Parts: Autos IG/HY Credit Update - Time to make a pit stop in 2H21

Light vehicle sales trends and outlookSpecial topics: chip shortage, inventories and cost inflation. Impact of emission targets, EV roll-out and ESG. Credit metrics and rating momentum. Valuation and most interesting stories in our coverage universe.
UniCredit Sven
Sven Kreitmair @ UniCredit 15 October 2021