European Event-Driven Analyst

Jesus Rodriguez Aguilar

Event-Driven

<ul>
<li>Since mid-November, spreads have generally widened across our European liquid universe of ordinary and preferred shares (9 have tightened, 10 widened).</li>
<li>Recommended trades long preferred / short ordinary shares: Media-for-Europe, Sixt, Volkswagen (still the most interesting situation).</li>
<li>Recommended trades long ordinary / short preferred shares: Fuchs, Henkel, SSAB Svenska Stal.</li>
</ul>


Since mid-November, spreads have generally widened across our European liquid universe of ordinary and preferred shares (9 have tightened, 10 widened).
Recommended trades long preferred / short ordinary shares: Media-for-Europe, Sixt, Volkswagen (still the most interesting situation).
Recommended trades long ordinary / short preferred shares: Fuchs, Henkel, SSAB Svenska Stal.


Liquid Universe of European Ordinary and Preferred Shares: December‘23 Report

Global Editor, Base Oil News

Iain Pocock

Global Editor

Global Base Oils and Lubricants Markets

Base Oil News

Base Oil News focuses on the interplay between fundamentals and prices in the global base oils and lubricants markets.

Baseoilnews.com combines daily, weekly and monthly base oils and lubes fundamentals data from every region of the world to build the most comprehensive and up-to-date global picture of the state of the market.

The data and analysis provide key tools to understand current market developments and opportunities and to anticipate how the market is likely to behave in the coming months.

Base oils producers, lube blenders and consumers can then better plan accordingly.

Baseoilnews.com analyses and publishes market news and data every day as it breaks.

Commodities

<ul><li>Global base oils prices mostly hold firm vs feedstock/competing fuel prices, especially in Europe and Asia.</li><li>Firm price differentials point to strong supply-demand fundamentals, incentivize refiners to supply more volumes for those markets.</li><li>Demand would need to hold firm to absorb any such pick-up in supplies.</li></ul>

Global base oils prices mostly hold firm vs feedstock/competing fuel prices, especially in Europe and Asia.Firm price differentials point to strong supply-demand fundamentals, incentivize refiners to supply more volumes for those markets.Demand would need to hold firm to absorb any such pick-up in supplies.

Global base oils margins outlook: Week of 2 June

<ul><li>US domestic Group I SN 500 price rises to premium to Group II N600 price in May 2025 for first time in more than four years.</li><li>In Middle East, CFR UAE Group I SN 500 price discount to Group II N500 shrinks to narrowest in more than seven months.</li><li>In Asia, FOB Asia Group I SN 500 price strengthens vs Group II N500 in May 2025 to firmest level in six months.</li></ul>

US domestic Group I SN 500 price rises to premium to Group II N600 price in May 2025 for first time in more than four years.In Middle East, CFR UAE Group I SN 500 price discount to Group II N500 shrinks to narrowest in more than seven months.In Asia, FOB Asia Group I SN 500 price strengthens vs Group II N500 in May 2025 to firmest level in six months.

Global base oils arb outlook: Week of 2 June

<ul><li>US Group II base oils prices hold in narrow range vs VGO since mid-April 2025.</li><li>Steady price differentials contrast with surge in margins in Q2 2024.</li><li>Steadier margins so far in Q2 2025 coincide with time of year when supply-demand fundamentals are likely to be tighter than usual.</li></ul>

US Group II base oils prices hold in narrow range vs VGO since mid-April 2025.Steady price differentials contrast with surge in margins in Q2 2024.Steadier margins so far in Q2 2025 coincide with time of year when supply-demand fundamentals are likely to be tighter than usual.

Americas/EMEA base oils supply outlook: Week of 2 June

<ul><li>US base oils demand could get support from stock-building ahead of Atlantic hurricane season.</li><li>Slow end-user consumption, expectations of improving availability of supply and of steady-to-lower prices could curb extent of any such stock-building.</li><li>US refiners’ regular exports of surplus shipments to overseas markets could limit volumes available to cover for any unexpected supply disruptions over coming months.</li></ul>

US base oils demand could get support from stock-building ahead of Atlantic hurricane season.Slow end-user consumption, expectations of improving availability of supply and of steady-to-lower prices could curb extent of any such stock-building.US refiners’ regular exports of surplus shipments to overseas markets could limit volumes available to cover for any unexpected supply disruptions over coming months.

Americas/EMEA base oils demand outlook: Week of 2 June

Germany

FUCHS SE manufactures lubricants and related specialty products. The Company refines and produces industrial and automotive lubricants, hydraulic oils, greases, and polishing products, as well as biodegradable oils. FUCHS markets its products worldwide.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

FUCHS (FPE GR)

Liquid Universe of European Ordinary and Preferred Shares: December‘23 Report

Since mid-November, spreads have generally widened across our European liquid universe of ordinary and preferred shares (9 have tightened, 10...

Jesus Rodriguez Aguilar

Global base oils margins outlook: Week of 2 June

Global base oils prices mostly hold firm vs feedstock/competing fuel prices, especially in Europe and Asia. Firm price differentials point to...

Base Oil News

Global base oils arb outlook: Week of 2 June

US domestic Group I SN 500 price rises to premium to Group II N600 price in May 2025 for first time in more than four years. In Middle East, CFR...

Base Oil News

Americas/EMEA base oils supply outlook: Week of 2 June

US Group II base oils prices hold in narrow range vs VGO since mid-April 2025. Steady price differentials contrast with surge in margins in Q2...

Base Oil News

Americas/EMEA base oils demand outlook: Week of 2 June

US base oils demand could get support from stock-building ahead of Atlantic hurricane season. Slow end-user consumption, expectations of improving...

Base Oil News

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)