Kevin Smith

Trump may backtrack on some auto tariffs (FT)

According to the Financial Times, which cites two sources close to the matter, US President Donald Trump is considering exempting car manufacturers from certain customs duties. This decision would follow several weeks of intensive lobbying by automotive industry leaders.

April 24, 2025 at 10:18 am

Semiconductors: who do European groups sell to?

When investing in a company, it is essential to understand where its revenue comes from. This is the kind of thing that Warren Buffett, the most famous investor alive, teaches his followers: only invest in things you understand. And to understand, you need to know where the money comes from.

April 23, 2025 at 05:19 pm

Danone relies on China to post a good quarter, but…

Danone exceeded sales forecasts in Q1 2025, buoyed by strong demand in China for its baby milk and medical nutrition products, which offset the weak sales of its coffee creamers in a highly competitive US market.

April 23, 2025 at 11:57 am

Tesla's Quarterly Results: An Ironic Twist

The automaker, which has been treading water in the stockmarket for its fourth consecutive year, reported very poor quarterly results yesterday.

April 23, 2025 at 11:52 am

Air France-KLM, the most undervalued stock right now?

Air France-KLM shares, which have fallen 10% in 2025, have just "won" the title of lowest P/E ratio in Europe amongst companies with a market capitalization of over €1bn. The Franco-Dutch airline, or Dutch-French depending on your point of view, is undervalued for the current year and the next two years, i.e. less than twice the expected results for this year, 1.7x those for 2026 and 1.56x those for 2027. This is particularly low: according to our friends at AlphaValue, the median European 2025 P/E multiple is 13.5x and 11.9x for 2026.

April 22, 2025 at 05:48 pm

The price of gold reaches $3,500 per ounce (+33% in 2025)

Investing in gold is the best way to escape the turbulence of the financial markets in 2025. This morning provided further proof of this. At 8:18 a.m., the price of gold made a symbolic foray into the $3,500 range (at $3,500.12, to be precise). This is the first time in history that the eternal metal has done this, having risen by 33% since the beginning of the year, increasing its lead over all other major asset classes.

April 22, 2025 at 04:41 pm

Has Moncler reached its peak?

The leading brand in down jackets and winter clothing is not immune to the slowdown that is affecting almost the entire luxury sector.

April 22, 2025 at 11:26 am

Iconic Denny's shares collapse on stockmarket

After Hooters filed for bankruptcy, is it now the turn of the famous Denny's chain to teeter on the brink of collapse?

April 22, 2025 at 11:07 am

Brunello Cucinelli defies turbulence

Like Hermès, the Italian specialist in high-end cashmere is weathering the economic climate and maintaining its strong growth trajectory.

April 22, 2025 at 10:53 am

Pernod Ricard at its lowest valuation multiples

The spirits group, while unable to escape the current difficult economic climate, is nevertheless managing to limit the damage.

April 22, 2025 at 10:11 am

Apogee Enterprises remains neglected by investors

The architectural glass systems specialist—owner of the well-known Linetec and Viracon brands—has fallen out of favor with the market since tensions rose in the construction and commercial real estate sectors in North America.

April 17, 2025 at 03:54 pm

LVMH falls off its pedestal

Trouble never comes alone. In the midst of reorganization, the group led by Bernard Arnault is experiencing the old adage as it enters a new era in its history.

April 17, 2025 at 12:10 pm

Michael Kors down for the count

At the end of 2024, the American courts ruled against Tapestry - the group that owns the Coach, Kate Spade New York and Stuart Weitzman brands - in its bid to acquire Capri Holdings.

April 15, 2025 at 11:59 am

Morgan Stanley reports excellent Q1 2025 results

2024 was even better than the previous year, and 2025 is off to a flying start with the highest quarterly profit in the company's history. These additional gains are driven by trading activities, and to a lesser extent by the successful offloading of debt carried on the balance sheet since Elon Musk's takeover of Twitter.

April 14, 2025 at 11:59 am

At $3200 per ounce, gold will crush competition in 2025

To round off a testing week on the stockmarkets, marked by wild swings and fears about the future of world trade as we know it today, we present a chart summarizing the performance of 11 major asset classes in 2025. No real surprises here: gold beats everything else.

April 11, 2025 at 05:03 pm

What's the best European ETF in 2025?

Despite the recent turmoil, some index funds are doing well in Europe. There's no need to go for bonds, as some equity market segments have posted solid performances since January 1.

April 11, 2025 at 04:06 pm

Tesco chooses to cannibalize itself

The number one retailer in the UK - where it controls almost 30% of the national market share - has succeeded in its turnaround.

April 11, 2025 at 12:14 pm

Orsted forced to ask the EU for support measures

The threat of tariffs is yet another nail in the coffin of Orsted's ambitions in the US.

April 10, 2025 at 04:06 pm

Bombardier Recreational Products: The market was right

The world leader in recreational vehicles - specializing in snowmobiles, quads, leisure boats and jetskis, among others, and owner of the BRP, Can-Am, Ski-Doo and Manitou brands - had long been saddled with a modest single-digit valuation multiple.

April 10, 2025 at 10:46 am

Trump says "It's you next!" to pharmaceutical labs

The pharmaceutical sector is not playing its defensive role in Europe on the morning of April 9, 2025, at a time when stockmarkets are reeling. On the contrary, in turn it fell by 5%. The cause? The latest threat from Donald Trump, who plans to quickly lift the suspense on what he has concocted for the industry in terms of tariffs.

April 09, 2025 at 03:35 pm

Will MP Materials be the next meme stock in fashion?

Is the "only producer of rare earths in the Western Hemisphere" destined to benefit from the escalating tensions between the US and China?

April 09, 2025 at 10:48 am