Roula Inglesi-Lotz and George Alex Thopil (The Conversation) | The transition from fossil fuels to cleaner energies is a global pursuit. But it’s faster and more intensive in some countries than others.
Morgan Stanley | We continue to see the discount with the quotation exaggerated against the sector (8-9% PER’20-21), by undervaluing its strong growth profile (growth in EPS CAGR 18′-21 ‘of 10%), as well as the expected new renewables plan, so we continue to maintain the OW.
BOAML | For a while, we’ve been asked by clients how “big tech” might compete with the European banks. This question now seems to need an answer. We think the European banks sector faces plenty of challenges, but a head-on challenge from the likes of Amazon and Google etc aren’t among them, in our view.
Jessie J. (Unigestion) | Growth drivers have stabilised considerably since June, following the end of the slowdown that started in January 2018. The “mid-cycle” pause called by Fed Chair Jerome Powell has led to a one-of-a-kind situation: world growth remains decent while monetary policy has become once again incrementally more accommodative.
Alphavalue | The vice president of the European Central Bank, Luis de Guindos, warned that the profitability on the own funds of the Eurozone banks has fallen to less than 6% in the last twelve months until June 2019.
Esty Dwek (Natixis AM) | Recent data has continued to point to a slowdown in global growth, but at a softer pace. We believe that this slower growth is unlikely to translate into a deeper downturn for the time being thanks to accommodative central banks, a robust global consumer and easing trade tensions.
The broadband market continues to grow in Spain: 31% penetration in Spain vs. 42% on average in other European countries, analysts at Morgan Stanley point out.
The operation needs 50% support from BME’s capital. However, it also depends on the relevant authorizations. The purchase depends, in addition to the green light of the Spanish Competition Authorities, the approval of the Spanish market regulator CNMV.
DWS | After experiencing a slight fall during the second quarter, German gross domestic product (GDP) grew at a slightly positive rate in the third quarter of the year. This means that Germany has been spared, by the hair, of falling into a technical recession. However, it is likely that the most recent data fail to reassure skeptics.
Peter Isackson (Fair Observer) | For the first time in over 150 years, The Economist is finding itself on the wrong side of history, or at least of the ideology of history it created and sold to the rest of the developed world.