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Saxo Bank analyst: Dependence on SIFs, too heavy

05.05.2010, 21:20 7

Industry, technology and utilities are the fields set to boastsolid performance in the following year on the Stock Exchangebecause they are the ones generating the genuine economic growth,and financial companies to a lesser extent, with an impact only interms of boosting economic rebound, believes Christian TegllundBlaabjerg, a market analyst with Saxo Bank. He is upbeat as regardsthe trend of the Romanian capital market, criticising, however, thetoo high attention investors have in the past year paid to the fivefinancial investment companies (SIFs), as well as the lack ofrelevance to the economy of the main stock exchange index, BET."Dependence on SIFs has become too heavy on the Romanian capitalmarket, being largely justified by a speculative interest thatfluctuated depending on talks about raising the stake cap.Investors should now be looking toward the stocks of fieldsgenerating economic growth. The classical industrial stocks,technology, utilities and healthcare services are the sectorsgenerating the true growth, while financial companies do notgenerate anything, they just play the role of boosting growth,"said Christian Tegllund Blaabjerg of Saxo Bank.

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