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Pin to quick picksWPP Share News (WPP)

Share Price Information for WPP (WPP)

London Stock Exchange
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Share Price: 812.60
Bid: 814.00
Ask: 814.40
Change: 8.40 (1.04%)
Spread: 0.40 (0.049%)
Open: 804.20
High: 821.60
Low: 804.20
Prev. Close: 804.20
WPP Live PriceLast checked at -

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Credit Suisse warns cyclicals may have gone too far, overweights financials

Thu, 02nd Feb 2017 13:01

(ShareCast News) - Strategists at Credit Suisse stuck to their 'overweight' stance on Financials but cautioned clients that the current equity rally was over-extended, hence their decision to lift their allocation to 'defensive' shares to benchmark at the expense of cyclicals.Typically, a rally would see cyclicals outperform defensives by 20% but thus far they had done so by 24%, strategist Andrew Garthwaite said in a research note sent to clients.Furthermore rallies tended to occur in the early phases of an economic cycle, whereas the US, Japan and China appeared to be entering the later stages.The performance of cyclicals relative to defensives was discounting levels for the respective purchasing managers' indices consistent with GDP growth in the euro area and US of between 3% and 4% and a 3.0% yield on the benchmark 10-year US Treasury note.In one small positive, valuations on book and earnings measures in the US "are cleary expensive", Garthwaite said, although they were more neutral in Europe, he added.As regarded Financials, Garthwaite said they were cheaper than cyclicals, had "superior" earnings momentum and were positively correlated to rising bond yields, which in Germany were expected to hit 1.0% by the end of 2017 and in the US to 3.0%.On 70% of the ocassions during which cyclicals had been that 'overbought' relative to defensives they had gone on to underperform."Finally, sector risk appetite in the US, Japan and the UK is in 'euphoria' at a time when we think President Trump's policies could disappoint."Among the domestic demand plays the investment bank recommended focusing on were: CapGemini, SAP, WPP and Adecco.
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22 Mar 2023 11:56

LONDON MARKET MIDDAY: Stocks lower, pound up as rate decisions loom

(Alliance News) - Stock prices in London were largely lower at midday on Wednesday, as in-coming interest rate decisions from the US Federal Reserve and the Bank of England weighed on investors' minds.

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22 Mar 2023 09:17

WPP buys London-based influencer marketing agency Goat for GroupM

(Alliance News) - WPP PLC on Wednesday announced the acquisition of influencer marketing agency Goat for an undisclosed price.

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22 Mar 2023 08:49

LONDON MARKET OPEN: Stocks red as UK inflation stays in double-digits

(Alliance News) - Stock prices in London opened lower on Wednesday, but the pound was on the rise, after inflation in the UK came in hotter than expected in February, remaining in double-digits.

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22 Mar 2023 07:55

LONDON BRIEFING: UK inflation surprises with rise to 10.4% in February

(Alliance News) - Stocks in London are set to open slightly lower on Wednesday, after UK inflation came in hotter than expected in February.

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22 Mar 2023 07:01

WPP buys Goat marketing agency

(Sharecast News) - WPP on Wednesday said it had bought influencer marketing agency Goat for an undisclosed sum.

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17 Mar 2023 20:53

TRADING UPDATES: Petra Diamonds sells more diamonds amid price growth

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday, Augmentum Fintech and Tap Global on Monday, and not separately reported by Alliance News:

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7 Mar 2023 09:58

WPP acquires German healthcare communications group 3K

(Alliance News) - WPP PLC on Tuesday said it has acquired German healthcare specialist PR agency, 3K Agentur fur Kommunikation.

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7 Mar 2023 08:00

WPP buys German health PR specialist

(Sharecast News) - WPP said it had bought German public relations agency 3K Agentur für Kommunikation (3K) for an undisclosed sum.

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24 Feb 2023 09:37

LONDON BROKER RATINGS: SocGen cuts Burberry; BofA cuts WH Smith

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

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23 Feb 2023 17:22

Upbeat corporate guidances lift European shares, Nvidia forecast boosts chip stocks

UK healthcare giants fall on ex-dividend trades

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23 Feb 2023 17:00

LONDON MARKET CLOSE: FTSE 100 struggles, but European peers rise

(Alliance News) - Stock prices in London closed mixed on Thursday, with blue-chips ending in the red on renewed concerns of higher rates in the US, as well as a host of stocks going ex-dividend.

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23 Feb 2023 13:52

AI could be the 'new gold' and Nvidia the largest 'miner'

STOXX 600 up 0.2%

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23 Feb 2023 12:00

LONDON MARKET MIDDAY: FTSE 100 underperforms as rate worries weigh

(Alliance News) - Stock prices in London were largely higher at midday on Thursday, though the FTSE 100 was in the red as the more globally-focused index lamented interest rates in the US will likely keep pushing higher.

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23 Feb 2023 11:56

Sell side sees 2-19% upside for top euro zone banks

STOXX 600 up 0.18%

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23 Feb 2023 11:35

U.S. housing market flashes red recession signals

STOXX 600 up 0.1%

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