RPT-BofA-ML European strategy team ups banks to "overweight"



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Oct 18 Bank of America-Merrill Lynch's European equity strategy team upgraded regional banks to "overweight" on the back of light positioning, progress on restructuring in Italy and a turn in bond yields globally.
Longer term earnings power remains an issues, BofA-ML said in a note to clients, but earnings momentum was getting "less bad" and higher-quality large banks offered attractive dividend yields with emerging market exposure an added plus.
Worries about developed market growth and crowded trades spurred a... read more

 
18 October 2016 in World News, Views: 30
Source: Reuters
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