Bad Times For Mobinil, Still Cautious Hermes

BMI View: We are comfortable with our medium-term bearish view on the Hermes stock index, given political risks, negative technical signals and further potential volatility in global market sentiment. The index has bounced over recent days, but the monthly close tomorrow will be down (barring a miracle), which suggests further room for downside. Here we look at latest results for Moninil, which do not give much reason to be cheerful for its share price.

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