EU FINANCIALS: Royal Bank of Canada: 3Q25 Results

Aug-27 10:08

(RY; A1/AA-/AA-)                     

Income statement looks better than expected with revs, provisions and EPS beats. CET1 looks 0.1pp short of consensus.

  • “*RBC 3Q REV. C$16.99B, EST. C$16.08B
  • *RBC 3Q PROVISION FOR CREDIT LOSSES C$881M, EST. C$1.1B
  • *RBC 3Q ADJ EPS C$3.84, EST. C$3.25
  • *RBC 3Q BASEL III CET 1 RATIO 13.2%, EST. 13.3%
  • *RBC SEES HIGHER GLOBAL MARKETS, INVESTMENT BANKING REVENUE”- BBG

Historical bullets

MNI: UK CBI JUL DIST TRADE REPORTED SALES -34

Jul-28 10:00
  • MNI: UK CBI JUL DIST TRADE REPORTED SALES -34
  • UK CBI JUL DIST TRADE EXPECTED SALES -31

SONIA OPTIONS: Put Ladder Buyer

Jul-28 09:58

SFIX5 96.15/96.10/96.05p ladder, bought for flat in 5k (ref 96.30).

OUTLOOK: Price Signal Summary - Bull Cycle In S&P E-Minis Remains In Play

Jul-28 09:46
  • In the equity space, S&P E-Minis have traded to fresh cycle high today. The climb confirms a resumption of the uptrend and maintains the price sequence of higher highs and higher lows. Sights are on 6477.31, a 1.618 projection of the May 23 - Jun 11 - 23 price swing. Support at the 20-day EMA is at 6302.01.
  • The trend condition in EUROSTOXX 50 futures remains bullish and short-term weakness for now, appears corrective. Support at 5281.00, the Jul 1 / 4 low, remains intact. For bulls, a resumption of gains would refocus attention on key resistance and the bull trigger at 5486.00, the May 20 high. It has recently been pierced, a clear breach of it would resume the bull cycle and open 5500.00.