Cross-ownership concern in Italy's banking sector

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Italy's banking sector offers both growth and defensive stock opportunities, according to Raj Shant,...

Italy's banking sector offers both growth and defensive stock opportunities, according to Raj Shant, director of European equities at Credit Suisse Asset Management. Stocks such as Medio Lanum, Banco Fideuram and Bipop, which have capitalised on this trend have seen growth of 72%, 111% and 59% in euro terms respectively in the 12 months to 12 December. Shant says: "The reason we like them now is they are less exposed to international funds and are a defensive play as the world begins to worry about the effects of economic slowdown on the markets." However, while Adriaan de Mol van Otte...

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