The equity markets should start to anticipate an economic recovery in the first quarter of next year. According to an analysis of ESN, a group of analysts from several investment banks, Europe, which is part of the Caixa BI, the world's economies should begin to stabilize in the second half of 2009, despite a more sustained recovery only to be expected 2010. Analysts also point to Galp Energia and EDP Renewables as potential winners in the post-crisis.
"With consumer confidence still destroyed and the risks of the economy and the results still without end in sight, it seems too early to anticipate a sustained recovery in equity markets," advance the analysts in a note to analyze the end of last week. In that document, the analysts added that "expectations are for the emergence of a stabilization in the economies in the second half of 2009 and the equity markets could anticipate it before the end of the first quarter of 2009."
In a particularly difficult year for scholarships and the global economies to enter into recession, the prospects of the market continue to point to the risk of collapse of the results, due to economic deterioration, which could lead to further losses on the stock exchange. Still, industry analysts ESN emphasize that the cut-rate and lower interbank rates could offset the submission of accounts below the estimates, and remember that the European stock trading with the assessment lowest since the 80s.
Looking post-crisis, analysts see as potential winners of the crisis the oil services sector, telecommunications operators and airlines. Already the automotive sector, businesses of telecommunications equipment and the media should emerge as the key hindered by the economic recession. Despite this the long term, for now, those responsible continue to advise the exposure to more defensive sectors such as health, telecommunications or retail food. Do not remain in their cyclical companies, with the economies without giving further signs of recovery.
Galp Energia and EDP Renewable between winning
But the analysis highlights not only areas. The heads also show potential companies winning the crisis. Air France-KLM, Prosafe SE and BNP Paribas are among the companies that will exit from the crisis stronger. Also the Portuguese Galp Energia and EDP Renewables are among the activities preferred by ESN for the sectors of renewable energy and oil, respectively.
The partnerships in oil exploration in Brazil and the high potential for recovery of oil are among the strengths highlighted by analysts, who believe that "the current financial crisis provides a unique opportunity to invest in this company." Already the Renewable as one of the companies best positioned among the companies in wind energy.
Regarding monetary policy, the ESN believes that central banks will keep interest rates at historically low levels to sustain the economy, despite believing that the Fed will not raise interest rates to 0%. But the ECB should cut its rate to 2% in 2009, compared to the current 3.25%.
"With consumer confidence still destroyed and the risks of the economy and the results still without end in sight, it seems too early to anticipate a sustained recovery in equity markets," advance the analysts in a note to analyze the end of last week. In that document, the analysts added that "expectations are for the emergence of a stabilization in the economies in the second half of 2009 and the equity markets could anticipate it before the end of the first quarter of 2009."
In a particularly difficult year for scholarships and the global economies to enter into recession, the prospects of the market continue to point to the risk of collapse of the results, due to economic deterioration, which could lead to further losses on the stock exchange. Still, industry analysts ESN emphasize that the cut-rate and lower interbank rates could offset the submission of accounts below the estimates, and remember that the European stock trading with the assessment lowest since the 80s.
Looking post-crisis, analysts see as potential winners of the crisis the oil services sector, telecommunications operators and airlines. Already the automotive sector, businesses of telecommunications equipment and the media should emerge as the key hindered by the economic recession. Despite this the long term, for now, those responsible continue to advise the exposure to more defensive sectors such as health, telecommunications or retail food. Do not remain in their cyclical companies, with the economies without giving further signs of recovery.
Galp Energia and EDP Renewable between winning
But the analysis highlights not only areas. The heads also show potential companies winning the crisis. Air France-KLM, Prosafe SE and BNP Paribas are among the companies that will exit from the crisis stronger. Also the Portuguese Galp Energia and EDP Renewables are among the activities preferred by ESN for the sectors of renewable energy and oil, respectively.
The partnerships in oil exploration in Brazil and the high potential for recovery of oil are among the strengths highlighted by analysts, who believe that "the current financial crisis provides a unique opportunity to invest in this company." Already the Renewable as one of the companies best positioned among the companies in wind energy.
Regarding monetary policy, the ESN believes that central banks will keep interest rates at historically low levels to sustain the economy, despite believing that the Fed will not raise interest rates to 0%. But the ECB should cut its rate to 2% in 2009, compared to the current 3.25%.
No comments:
Post a Comment