Jan Leroy
Jan Leroy
everybody guessing next sector
The whole sector is going through the roof. Everybody is guessing what could be the next target.
buying capacity capital cheaply increasing instead known steel stocks
Steel stocks are cheaply valued, they're cyclical, they're very well known for their capital destruction during downturns. Now instead of increasing capacity, they're buying capacity or buying competitors.
data earnings economic inflation mood remain supportive
The mood is very positive. Earnings are supportive, the economic data is supportive and there's an M&A frenzy. We think inflation will remain contained.
commodity companies continued economy expect global
Commodity companies are benefiting from continued growth. We expect they will keep doing well as the global economy expands.
drag extended goes higher level oil panic remains time
For the time being I wouldn't panic or read too much into (the oil price), but if it goes even higher or if it remains at such a level for an extended period, it could become a drag on the economy.
clearly coming corporate decent fairly focusing market results surprise upside
Corporate results are coming in a fairly decent way and are better than expected, the market is clearly focusing on the ones that surprise on the upside and are hammering the ones who disappoint.
earnings mood
The mood is very positive. Earnings are supportive.
companies costs dependent energy higher negative oil price prices
Every negative development in the oil price slams the energy stocks. Oil companies are increasingly dependent on higher oil prices because their own costs are also rising.
bit concerned healthy higher inflation normal pause people pressure profit run strong
People are a bit concerned about higher inflation and pressure on profit margins. After a strong run in the first quarter, it is healthy and normal to have a pause for breath.
clear outlook positive results strong
We're still positive on the stock. It's clear that ABB, after a downturn, is benefiting from strong demand. That's very positive, not only for the results but for the outlook in 2006.