European Financials Speculative Sales Update

This report provides a tactical update on European financials, highlighting strong Q2 results for SEB versus SHB's miss, and a constructive outlook on UK banks and alternative asset managers like ICG.

Key Takeaways

• 1.SEB delivered strong Q2 results with earnings upgrades expected, while SHB underperformed with consensus earnings cuts anticipated.
• 2.UK banks, particularly Natwest, are viewed positively due to improving corporate lending and a potential political 'clearing event' regarding chancellor nomination.
• 3.ICG shows strong growth in fee-earning AuM and fundraising momentum, keeping it on track to exceed long-term targets.

Table of Contents

• PREVIEWS
• IN OTHER NEWS
• CORPORATE ACCESS
• US/ EURO IBs
• Q2 RESULTS
• Q2 PREVIEWS
• WHAT IS CATCHING MY EYES IN GS RESEARCH
• TODAY'S NEWS
• DIV FINS
• CORPORATE ACCESS EVENTS

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