Once again, the two big financial families are not in the same boat. Far from leading the thirteen sectors of the European Stoxx 600 index since the beginning of January, like banking, insurance comes in sixth position (+6.5%, excluding dividends).
It nevertheless benefits from a slight rerating of its capitalization multiple. Because at the same time, its earnings per share estimated for 2024 have been revised upwards by only 2%, and that of 2025 reduced by 1%, according to a sector note from UBS, published a week before the quarterly publications of the major companies, which start this Thursday with Axa.
It is therefore above all interest rate expectations and the more generous distribution policy to shareholders which explain these good stock market conditions. The French flagship will have to deliver on its promises to go higher.
New: discover our Premium offers!
Your responsibilities require careful attention to the events and power relationships that govern our world. You need to anticipate major trends to recognize, at the right time, the opportunities to seize and the risks to prevent. This is precisely the promise of our PREMIUM offers: to provide you with exclusive analyzes and sector monitoring tools to take informed decisions, identify weak signals and support your biases. Don’t wait any longer, the most decisive decisions for your 2024 successes are being made now!
I discover the offers