Rolf Elgeti
Rolf Elgeti
bull earnings european interest market rates reasonably strong typical
European equities are still reasonably cheap, earnings are very strong and interest rates aren't going up, so we have all the typical ingredients of a fundamental bull market for equities,
hardware market missed otherwise recorded strength summer tech worst
Tech has missed out on the market strength over the summer months. In an otherwise beta-led rally, IT Hardware is the stand-out exception, having recorded the worst three-month performance.
benefit companies happier investment margins position power pressure pricing quite seem side software stronger though volumes
They may not have the pricing power that other companies have and the margins are under pressure even though the volumes are quite all right. I am much happier with the software side of things, which seem in a stronger position to benefit from the investment cycle.
current earnings economic european fear given growth revised strength time
European earnings will be better than some may fear for some time to come. Given the strength of current economic momentum. 2006 (earnings) growth should not have been revised down.
earnings europe help interest markets rates remain
The valuations are still not a problem, earnings remain strong, M&A is still in the picture, interest rates in Europe are still not a threat, and this should help markets go higher.
clearly earnings few gained investors looking momentum reporting season slightly
If anything, that idea has gained momentum in this reporting season because a few investors were looking for earnings to slightly disappoint, especially in the U.S., and that clearly hasn't happened.
cautious change decent gains last late market momentum people seen views year
We think we'll see a very decent year in 2006 and as the market gains momentum more people will change their very cautious views seen late last year.
earnings expected positive taking trigger year
We had expected earnings to be a positive trigger this year and this is taking place.
reaction seeing selling technical thursday
We're seeing a technical reaction to yesterday's sell-off. But, I think we'll be seeing more selling Thursday and Friday.