EU FINANCIALS: DNB Q2 25 Earnings
(DNBNO Aa2/AA-/NR)
Typically solid from DNB. Slightly behind estimates - mostly slightly lower than expected NII - , and RoE is a touch lower, but nothing to concern creditors. Provisions and the NPL ratio ticks lower, and better than expected.
• Net Revenue NOK22.5bn vs est. NOK23.0bn (3.6% QoQ / 4.3% YoY)
• Net Interest Income NOK16.2bn vs est. NOK16.5bn (-3.4% QoQ / 2.1% YoY)
• Non-Interest Income NOK6.3bn vs est. NOK6.4bn (26.8% QoQ / 10.1% YoY)
• Total Non-Interest Expenses NOK8.7bn vs est. NOK8.6bn (6.1% QoQ / 16.3% YoY)
• Loan Loss Provision NOK0.7bn vs est. NOK0.6bn
• Net Income NOK10.4bn vs est. NOK10.7bn (-17.6% QoQ / -3.0% YoY)
• CET1 Fully loaded 18.3% vs est. 18.4%
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
GILT TECHS: (U5) Bull Cycle Extends
- RES 4: 93.26 1.500 proj of the May 22 - 27 - 29 price swing
- RES 3: 93.05 1.382 proj of the May 22 - 27 - 29 price swing
- RES 2: 93.00 Round number resistance
- RES 1: 92.87 High Jun 10
- PRICE: 92.66 @ Close Jun 10
- SUP 1: 92.33/91.56 Low Jun 10 / 9
- SUP 2: 91.16/90.59 Low Jun 2 / Low May 29
- SUP 3: 90.11 Low May 22 and the bear trigger
- SUP 4: 90.00 Round number support
Gilt futures traded higher yesterday, resuming their short-term uptrend and strengthening the current bullish theme. This also marks an extension of the breach of resistance at 91.87, the May 20 high. The climb signals scope for a continuation higher and sights are on the 93.00 handle next. Initial firm support to watch lies at 91.56, the Jun 9 low. A clear break of this level is required to signal a possible reversal.
USDJPY TECHS: Corrective Cycle
- RES 4: 150.49 High Apr 2
- RES 3: 149.28 High Apr 3
- RES 2: 147.67/148.65 High May 14 / 12 and a reversal trigger
- RES 1: 145.29/146.28 High Jun 10 / High May 29 and key resistance
- PRICE: 145.00 @ 06:53 BST Jun 11
- SUP 1: 142.12 Low May 27 and a key support
- SUP 2: 141.96 76.4% retracement of the Apr 22 - May 12 bull leg
- SUP 3: 139.89 Low Apr 22 and a bear trigger
- SUP 4: 138.82 1.50 proj of the Feb 12 - Mar 11 - 28 price swing
A short-term bull cycle in USDJPY remains in play - for now. The latest recovery is considered corrective and the trend condition remains bearish. A resumption of weakness would open 142.12, the May 27 low. A clear break of this level would confirm a resumption of the bear leg and open 139.89, the Apr 22 low. MA studies remain in a clear bear-mode position too, highlighting a dominant downtrend. Key short-term resistance is 146.28, the May 29 high.
EQUITIES: Late Large Estoxx Option Blocks last night
Couple of late large Option Blocks in Estoxx last night, these are low Delta long Hedges:
- SX5E (20th June) 5250/5200ps, bought for 2.5 in 30.3k.
- Sx5E (18th July) 5150/5100ps, bought for 5.2 and 5.3 in ~54.8k.
