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7 months ago
BRIEF-BlackRock's strategist Richard Turnill says upgrading European equities & downgrading Emerging Market debt
February 6, 2017 / 3:31 PM / 7 months ago

BRIEF-BlackRock's strategist Richard Turnill says upgrading European equities & downgrading Emerging Market debt

Feb 6 (Reuters) - BlackRock's Strategist Richard Turnill:

* Says "economic outlook is picking up"

* "We believe the political risk priced into European markets around upcoming French & German elections is overstated"

* Believe European equities should benefit in a reflation scenario in Europe, absent any other shocks

* Says European earnings have historically been more sensitive to global economy pick-ups than U.S. counterparts

* Says European earnings have historically been more sensitive to global economy pick-ups than U.S. counterparts

* Says "we see long-term opportunities in emerging markets bonds, but higher valuations give us pause today"

* Says "we favor emerging markets equities and European stocks that benefit from global growth including EMs"

* Says we are upgrading European equities to overweight

* Upgrading European equities to overweight and cutting emerging market debt to neutral over short term

* "We have cut emerging markets debt and Asian fixed income to neutral from overweight" Further company coverage:

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