November 29, 2018 / 7:25 AM / 9 months ago

French stocks upgraded to "overweight" by Deutsche Bank strategists

PARIS, Nov 29 (Reuters) - Deutsche Bank strategists have upgraded their rating on French equities to “overweight” from “underweight”, arguing that forecasts of an improvement in the broader euro zone economy should help the Paris market.

“We upgrade French equities from underweight to overweight following the recent underperformance, as our projection of improving Euro area PMIs (Purchasing Managers’ Index) implies 4 percent outperformance over the coming months,” wrote Deutsche Bank in a note.

France’s benchmark CAC-40 equity index is down by around 6 percent so far in 2018, compared to an 8 percent fall in the broader pan-European STOXX 600 index.

Reporting by Sudip Kar-Gupta Editing by Raissa Kasolowsky

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