This analysis was developed by Reuters and disseminated by Boursorama on 07/21/2025 at 09:19:45.
Acting exclusively as a dissemination channel, Boursorama has in no way participated in its development or exerted any discretionary power about its selection. The information contained in this analysis was transcribed “as it is”, without declaration or guarantee of any kind. The opinions or estimates expressed there are those of its authors and cannot reflect the point of view of Boursorama. Subject to applicable laws, neither the information contained, nor the analyzes expressed therein can engage the Boursorama responsibility. The content of the analysis made available by Boursorama is provided only for information and has no contractual value. It thus constitutes a simple decision aid which the user retains the absolute mastery.
Boursorama is a French law credit institution approved by the Prudential Control and Resolution Authority (“ACPR”) and by the Autorité des Marchés Financiers (“AMF”) as investment service provider and under the prudential supervision of the European Central Bank (“ECB”).
In accordance with the regulations in force, Boursorama establishes and maintains operational a policy of managing conflicts of interest and implements administrative and organizational measures in order to prevent, identify and manage situations of interest conflicts with regard to the investment recommendations disseminated. These rules include provisions relating to personal financial operations in order to ensure that Boursorama employees are not in a situation of interest conflicts when Boursorama diffuses investment recommendations.
The reader is informed that Boursorama has no conflict of interest that can affect the objectivity of disseminated analyzes. As such, the reader is informed that there is no direct link between the analyzes disseminated and the variable remuneration of the Boursorama employees. Likewise, there are no financial or capital links between Boursorama and the issuers concerned, apart from contractual commitments that can govern the supply of the dissemination service.
It is recalled that the entities of the Société Générale group, to which Boursorama belongs, can carry out transactions on the financial instruments mentioned in this analysis, have participations in the companies issuing these financial instruments, act as market content, adviser, broker, or banker of these instruments, or be represented on the board of directors of these companies. These circumstances cannot in any way affect the objectivity of the analyzes disseminated by Boursorama.