Mobius keeps firm hold on energy stocks

Veteran Franklin Templeton manager expresses preference for energy stocks as he seeks new opportunities

Franklin Templeton's Mark Mobius is holding on to energy stocks in his portfolios while looking for new opportunities in consumer spending-related areas. He said while energy prices continue to go down, the sector is still his favourite, sitting at the top of all his funds. "On balance energy is still my favourite. Over the longer term, energy prices are still going down but there are too many companies where they are still too high," Templeton's emerging markets veteran said. He welcomed recent government intervention in countries like Hungary, reintroducing stability to their financ...