Opportunities this week:

This morning Shell released its regular quarterly Update Note. In summary, the guidance for Q1 2025 showed a reduction in upstream production due to unplanned maintenance particularly in Australia combined with the impact of cyclones. BUY PT 3230p.
On Friday, Roche held its annual Neurology/Alzheimer’s & Parkinson’s Disease update and presented data on a number of its latest drugs in the key growing clinical area. BUY PT CHF 330.
In our view, IRES REIT is a good example of a company that is insulated from the disruption to global trade, with some potential positive catalysts over the coming year. BUY PT: €1.20.