- Pan-European — Corporate Action
• Cracking quarter — "Almost 50% of European companies have beat our analysts’ expectations. This is the best quarter since we started tracking results in 2002."
• De-equitisation — "Corporate bond and FCF yields have crossed. Debt cheaper than equity funding. This should provide fuel for M&A and share buybacks."
- UK — New Term, New Rules
• Small/mid-cap view — "We feature an excerpt from our UK Small- and Mid-Cap team’s September Review highlighting their key themes."
• Key themes — "UK economic uncertainty, defensive growth expected to outperform. Other 2H10 themes: M&A and EM earnings growth."
Citigroup_European_Portfolio_Strategist_20100902
• Cracking quarter — "Almost 50% of European companies have beat our analysts’ expectations. This is the best quarter since we started tracking results in 2002."
• De-equitisation — "Corporate bond and FCF yields have crossed. Debt cheaper than equity funding. This should provide fuel for M&A and share buybacks."
- UK — New Term, New Rules
• Small/mid-cap view — "We feature an excerpt from our UK Small- and Mid-Cap team’s September Review highlighting their key themes."
• Key themes — "UK economic uncertainty, defensive growth expected to outperform. Other 2H10 themes: M&A and EM earnings growth."
Citigroup_European_Portfolio_Strategist_20100902
No comments:
Post a Comment