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UBS neutral on European banks while Deutsche upbeat on UK equities

Publication Date: 24 Apr 2018 - By Gaurav Sharma (Editor ReachX) By Gaurav Sharma (Editor ReachX)
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Equity Fundamental Investment Strategies Macro Equity EU ex-UK USA UK Financial Services

UBS has issued a "neutral" recommendation on banks in Europe, Japan and emerging markets. 

In a note to its clients on Tuesday (24 April), the Swiss investment bank also said it has an "overweight" recommendation on US banks, but is "underweight" on Australian banks. 

Meanwhile, Deutsche Bank has issued a positive recommendation on British stocks on the basis of cheap valuations and a boost from a relatively weaker pound. 

In a note to its clients overnight, the bank’s European equity strategy team said it had upgraded its recommendation on UK equities to "overweight" noting it was the "cheapest country" on the Deutsche Bank sector valuation scorecard. 

The German investment bank's move follows that of Citi which upgraded its outlook to "overweight" on 5 April. UBS for its part has recently raised its outlook on UK stocks from "underweight" to "neutral". 

Elsewhere in its investment note, Deutsche Bank maintained an "underweight" recommendation on Italian, German and French equities, and an "overweight" recommendation on Swiss stocks.

 

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