Live Markets: Six stocks to watch before Europe's sporting summer

Unibail-Rodamco-Westfield SE

23/04/2024 13:23

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    SIX STOCKS TO WATCH BEFORE EUROPE'S SPORTING SUMMER
    Two major sporting events are taking place in Europe this summer - the Paris Olympics and
Euro 2024 - and while there might not be a big macroeconomic boost for hosts France and Germany
on a micro level some stocks may stand to benefit. 
    "The tourism flows associated with these events lead to a significant consumption surplus
and therefore an opportunity to generate revenues," Oddo says. 
    "We have identified several sectors benefiting from these events: media, hospitality,
leisure, restaurants, beverages, spirits, consumer goods, real estate and transport."
    From those sectors, Oddo has whittled down six stocks that they think are worth focusing on
before the events and which they believe can receive a short-term catalyst from the games and
Euro 2024. 
    Those stocks are JCDecaux  JCDX.PA  , Accor  ACCP.PA  , Sodexo  EXHO.PA  , adidas  ADSGn.DE 
, Unibail-Rodamco-Westfield  URW.PA  and easyJet  EZJ.L  .
    "In addition to an additional revenue opportunity in the summer of 2024 (and therefore in Q2
and Q3), each of these stocks has particularly attractive fundamentals," Oddo says.
    However, the benefits will be fairly focused.  
        "While welcoming the Olympics in Paris and the Euro 2024 football tournament in Germany
is a source of pride for the host countries, the economic benefits are likely to be very limited
and possibly non-existent in the medium term," Oddo analysts, led by Jérôme Bodinsay, say in a
note. 
    "There may be some transient effects (one-off increase in spending followed by a fall) but
no lasting effect," they add. 
    
    (Samuel Indyk)
    *****
    
    FOR TUESDAY'S OTHER LIVE MARKETS POSTS:
    HOW TOKYO CAN MAKE FX INTERVENTION A SURPRISE CLICK HERE    
    A LESSON FOR EUROPE FROM 1995 CLICK HERE
    SMALL CAP FLOWS CATCHING UP CLICK HERE
    EUROPEAN COMPANIES TO POST RECORD DIVIDENDS, BUYBACKS IN 2024 - GS CLICK HERE
    EQUITIES: AI VERSUS GEOPOLITICAL RISKS CLICK HERE
    STOXX RISES AS RESULTS IMPRESS, FTSE AT RECORD CLICK HERE
    FUTURES RISE AMID FLURRY OF UPBEAT EARNINGS CLICK HERE
    EYES ON PMIS FOR REBOUND SIGNS CLICK HERE

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