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Markets Set for 'Bumpy' Increase During 2009
LONDON, December 11 /PRNewswire/ -- Global equity markets are likely to rise by 15-20 by the end of 2009 - but there will continue to be turbulence along the way. That's the view of Merrill Lynch's European Equity strategist Karen Olney. She says the global economy suffered a 'heart attack' this year and while it's unlikely to be repeated in 2009 the slow burn of poor earnings and bad economic news is likely to continue. Even traditional defensive plays have become 'overcrowded trades' and valuations look expensive especially with earnings disappointments possible. She picks media, telecoms and oil stocks as areas of the market to watch but warns investors face a 'bumpy ride' as an information black hole means the outlook remains uncertain. In the wake of the credit crunch investors should sacrifice the hunt for profit growth and instead focus on the liquidity and solvency of a company's balance sheet. The full video interview with Karen Olney, plus transcript is available now. It's free to view. All you need to do is register at http://www.cantos.com. Cantos.com, the online financial broadcaster, features in-depth interviews, documentaries and webcasts with senior company executives. If you would like to contact us, please email enquiries@cantos.com or phone +44-207-936-1333.
