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MNI: PBOC Net Drains CNY216 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.1865 Mon; -1.50% Y/Y

MNI: China CFETS Yuan Index Up 0.01% In Week of Nov 29

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AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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CONSUMER STAPLES: Pluxee (PLXFP NR/BBB+/NR): 3Q Revenue

CONSUMER STAPLES

Neutral for spreads; credit story intact

  • Revenue missed consensus by 3% for 3Q. Nonetheless that’s 18% organic revenue growth with expectations at 16.6%. FX was a drag due to Turkish Lira weakness.
  • FY24 revenue growth target increased to c.+18% from 15-17%, in line with analyst consensus. EBITDA margin targets were reiterated having been upgraded at 1H to 35%. Mid-term financial objectives were also reaffirmed.
  • Pluxee has signed a 25-year exclusive distribution agreement with Santander private bank in Brazil, accessing 1.4m B2B clients there. Following Cobee acquisition, a noncash deal supporting further growth is reassuring for creditors.
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