RE: Back to 70s31 May 2022 18:22
don't you just love morgan stanley, here is what they are now saying (having p1ssed around with RR qoutations over the last few months). Bunch of W@ nkers
BUY THE UK, BEWARE OF SPAIN (0851 GMT)
Morgan Stanley has taken a fresh look at national stock markets in Europe and its key takeaway is that while the FTSE 100 remains a buy due to still low valuations, Spanish stocks are vulnerable given weak earning trends.
"The United Kingdom is currently amongst the most overbought countries in Europe ... Strong price action, coupled with broadly neutral earnings revisions, has driven a sharp re-rating for UK equities. This being said, the region is still depressed in a historical context and currently trades at a 15% discount to MSCI Europe," write strategists at the U.S. bank.