European managers plump for telecoms over utilities

The telecoms sector will be the best global performer over the next 12 months and consumer goods and...

The telecoms sector will be the best global performer over the next 12 months and consumer goods and utilities the worst, based on predictions from European fund management groups. In the December survey by Morningstar, only 5% of those questioned expect sterling to be a strong currency in 2005, although only 14% believe it will be the weakest. While the euro and the yen are seen as the most likely candidates to be the strongest, with 43% and 38% respectively, more than two-thirds of those questioned thought the dollar would be the worst performer. This pessimism on the dollar is reflec...