Roger Guy and Guillaume Rambourg have retained overweight positions in defensive stocks in their Gart...
Roger Guy and Guillaume Rambourg have retained overweight positions in defensive stocks in their Gartmore European Selected Opportunities fund, believing them to be oversold. The duo says they have reduced holdings in pharmaceutical and telecommunications during the equities rally since March, but believe companies such as Roche and Telefonica are still trading unrealistically low. They are still cautious on cyclical stocks which they believe price in a V-shaped recovery, but have added car maker Daimler and technology manufacturer ThyssenKrupp. In a statement sent to clients Guy and Ra...
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