By Elizabeth Howcroft and Jesús Aguado PARIS/MADRID, Dec 2 (Reuters) - A group of 10 European banks, including ING, UniCredit and BNP Paribas, have formed a company to launch a euro-pegged stablecoin in the second half of 2026, in a ​move they hope will counter U.S. dominance in digital payments. The CEO of the Amsterdam-based company, named Qivalis, will be Jan-Oliver Sell,‌ who was previously the CEO of crypto exchange Coinbase's German business, and has also worked for Binance. Former NatWest chair Ho ...

Sam Lynton-Brown, Global Macro Strategy Head at BNP Paribas Markets 360, says the British Pound rally ahead of UK Chancellor Rachel Reeves's Autumn budget is short-lived, and the medium term picture of the currency is poor. "One is political uncertainty. The market needs to price a bit of a political tail. That is a downside risk for the pound. And the second is Bank of England. We think the market should price lower terminal policy rates from the Bank of England," he said. Lynton-Brown joined "The Pulse w ...

Our timing in downgrading BNP Paribas ( OTCQX:BNPQF )( OTCQX:BNPQY ) proved fortunate (Fig. 1). Just a few days later, the bank's shares came under pressure amid news of the Sudan case and rising concerns over legal claims.Buy-side hedge professionals conducting fundamental, income oriented, long term analysis across sectors globally in developed markets. Please shoot us a message or leave a comment to discuss ideas.DISCLOSURE: All of our articles are a matter of opinion, informed as they might be, and must ...

Core Viewpoint - After the strong performance report from Analog Devices, Inc. (ADI.US), BNP Paribas indicates that the semiconductor company is expected to achieve "broad growth" in the coming year [1] Group 1: Company Performance - The robust performance and guidance suggest that the company will benefit from demand in data centers and industrial sectors, alongside market share growth and favorable factors from the ongoing cycle recovery [1] - Analyst David O'Connor maintains an "outperform" rating for Analog Devices and raises the target price from $300 to $310 [1] Group 2: Market Outlook - Management's positive outlook for fiscal year 2026 indicates expectations for broad growth driven by data center and industrial sectors, although there is a cautious stance regarding the automotive sector due to tariffs and macroeconomic concerns [1] - The data center business is being driven not only by large-scale data center operators but also by increased spending on artificial intelligence, which is stimulating demand for HBM4 memory and subsequently increasing the demand for testing equipment [1] Group 3: Stock Performance - Analog Devices' stock price increased by 2.34% on Wednesday [1]

Group 1 - The core viewpoint is that 2025 has been a strong year for European financials, particularly banks, which have delivered robust returns [1] - BNP Paribas has achieved a total return of approximately 46% in USD terms, slightly below the ~48% gain for the broad iShares MSCI Europe [1] Group 2 - The author has a background in investing since high school, focusing on REITs, preferred stocks, and high-yield bonds, indicating a long-term fundamental approach to investing [1] - The investment strategy includes combining long stock positions with covered calls and cash secured puts, reflecting a sophisticated investment methodology [1]

Core Viewpoint - BNP Paribas Exane initiates coverage on 12 U.S. aerospace and defense companies, suggesting selective investment due to pressures in commercial aviation and anticipated growth in defense spending by 2026 [1] Commercial Aviation - The firm prefers parts and subsystem suppliers over large OEMs, favoring companies like Raytheon (RTX.US), TransDigm (TDG.US), and AeroVironment (AVAV.US) with positive ratings, while giving a negative outlook on Boeing (BA.US) and GE Aerospace (GE.US) [1][3][4][5] Defense Sector - Exane expects U.S. budget decisions in 2026 to drive demand, listing Lockheed Martin (LMT.US), Northrop Grumman (NOC.US), and AeroVironment (AVAV.US) as preferred picks [1] Company Ratings - **AeroVironment (AVAV.US)**: Outperform, positioned at the core of U.S. defense priorities with expected double-digit growth in its AxS segment [1] - **TransDigm (TDG.US)**: Outperform, with anticipated profit margin improvements in 2026 and 2027, and a projected special dividend of $100 next year [2][3] - **Raytheon (RTX.US)**: Outperform, expecting improved output from Collins Aerospace and growth in Pratt & Whitney [4] - **GE Aerospace (GE.US)**: Underperform, with concerns over declining aftermarket revenue and increasing losses in the GE9X project [5] - **L3Harris Technologies (LHX.US)**: Neutral, with limited room for valuation expansion despite benefits from missile defense projects [6] - **Boeing (BA.US)**: Underperform, with overly optimistic expectations on aircraft production and cash flow [7] - **Lockheed Martin (LMT.US)**: Outperform, driven by missile projects and international demand [8] - **Kratos Defense (KTOS.US)**: Neutral, with high valuation concerns despite broad defense technology coverage [9] - **General Dynamics (GD.US)**: Outperform, with expected improvements in various sectors including Gulfstream jets and shipbuilding [10] - **Northrop Grumman (NOC.US)**: Outperform, with anticipated growth in multiple projects as they transition to procurement phases [11] - **Howmet Aerospace (HWM.US)**: Outperform, with strong performance in pricing and market share [12] - **Heico (HEI.US)**: Neutral, with cautious outlook due to high valuation and potential slowdown in acquisitions [13]

Core Viewpoint - BNP Paribas has increased its CET1 ratio target to 13% by 2027, up from the previous target of 12.5%, driven by stronger profitability and moderate growth in risk-weighted assets [1] Group Summary - The new CET1 ratio target reflects the bank's confidence in its financial performance and stability [1] - The expected growth in risk-weighted assets is around 2%, indicating a cautious approach to asset expansion [1]

Core Points - BNP Paribas has raised its CET1 ratio target to 13% by 2027, driven by stronger profitability, moderate growth in risk-weighted assets, and accelerated disposal of non-strategic assets [1] - The confirmed ROTE target is set at 13% by 2028, reflecting a 210 basis point increase compared to 2024, with two-thirds of this improvement coming from strategic plans in key business areas [2] - The Group aims to improve its cost/income ratio to 61% by 2026 and 58% by 2028, demonstrating a strong commitment to cost control [2] - BNP Paribas will redistribute excess capital above the 13% CET1 ratio to shareholders, with a €1.15 billion share buyback program launching in November 2025 [3] - The growth and profitability trajectory through 2028 will be detailed with the release of the 2025 results, and the 2027-2030 plan will be presented in early 2027 [3] - The CEO emphasized that the announcements align with the long-term strategy and aim to enhance profitability while maintaining an attractive distribution policy for shareholders [4] Company Overview - BNP Paribas is a leader in banking and financial services in Europe, operating in 64 countries with nearly 178,000 employees, including over 144,000 in Europe [5] - The Group has key positions in Commercial, Personal Banking & Services, Investment & Protection Services, and Corporate & Institutional Banking [5] - BNP Paribas is rolling out its integrated commercial and personal banking model across several Mediterranean countries, Türkiye, and Eastern Europe, while also having a strong presence in the Americas and Asia-Pacific [5] - The Group has implemented a Corporate Social Responsibility approach to contribute to a sustainable future while ensuring performance and stability [5]

Group 1 - The issuer of the securities is Fortune Star (BVI) Limited, with a guarantor being Fosun International Limited [3][4] - The aggregate nominal amount of the securities is EUR 400 million, with a coupon rate of 5.875% due on November 20, 2030 [3] - The offer price for the securities is set at 100 [3] Group 2 - No stabilisation activities were carried out by the stabilisation managers, BNP Paribas and Deutsche Bank, in relation to the securities offering [2][4] - The announcement serves informational purposes and does not constitute an invitation or offer to acquire the securities [4][5] - The securities are not registered under the United States Securities Act of 1933 and cannot be offered or sold in the United States without registration or an exemption [5]

Core Viewpoint - BNP Paribas has experienced frustrating months as its shares have not followed the upward trend of the European financial sector, despite being the largest bank in the Eurozone [1]. Group 1: Company Performance - Shares of BNP Paribas have declined while the broader European financial space has continued to rise [1]. Group 2: Investment Strategy - The investment approach favored is long-term, buy-and-hold, focusing on stocks that can sustainably generate high-quality earnings, particularly in the dividend and income sectors [1].