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Europe may have to compete with Asia for limited gas at start of autumn, despite high storage levels

Renta 4 : Europe opens higher (Eurostoxx futures +0.4%, S&P -0.1%) after last minute gains in the Nasdaq (+1.65%) and after a session yesterday in which the rebound of the first part of the day in the European stock markets was deflated as the session progressed as there were no specific catalysts, beyond accumulating three consecutive weeks of losses in the main world stock markets.The markets are still waiting for…

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European bank trade still has upside: at 7x P/E it still trades at 50% discount to the market

Morgan Stanley: 100% of the sector has beaten NII so far, still a clear buy. Álvaro Serrano (analyst) highlights another quarter of solid results from European banks with 100% beating NII (rising rates and lower deposit betas) and contained credit risk. That said, the good results and the lack of growth in RWAs allowed banks to boost shareholder distributions with several of them (CABK, DBK, HSBC, BARC…) announcing new buyback…