The Point for Europe

A daily European market digest highlighting undervalued Spanish banks, robust EV penetration, and emerging competitive dynamics in the airline and smart glasses sectors.

Key Takeaways

• 1.Spanish banks SAN and BBVA are viewed as undervalued because their Latin American exposure offers macro resilience that is currently ignored by the market.
• 2.European EV demand remains robust with BEV sales up 43% YoY in April, driven by policy incentives and high fuel costs.
• 3.Competitive pressure is easing for low-cost airlines like Ryanair and easyJet as competitors cut capacity in early summer.

Table of Contents

• Top Call
• Company
• Must Read
• Industry
• Strategy & Economics
• Commodities
• Fixed Income & FX
• Key Rating and Target Price Changes
• Appendix A-1

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