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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
CONSUMER STAPLES
- Flagging for analyst eyeing Couche-Tard {ATD CN Equity} (Baa1, BBB+) that reports Q3 results in 2 weeks.
- Consensus looking for strong growth (~5%) mirrored in FCF expectations. Guidance will be key - 4Q expected to be weak - likely to be driven by analyst takes on receding fuel margins.
- As we mentioned last week, € curve trades well wide despite equal sized deals in both markets last month to fund its ~€3.1b purchase of TotalEnergies gas stations in Europe.
- Risk is continued debt fuelled M&A (Above was first acq. since '17, analyst see potential for more), TE's is already accounted for in current ratings. € lines unch today.
Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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