Mobile phones favoured in Greek telecom sector

While Greece has outperformed the wider European market by 3% since a government reshuffle in mid-October, Lambros Papadopoulos, analyst at SchroderSalamonSmithBarney, says the market will subsequently perform in line with the rest of Europe. 'We believe that even though top-down support for this outperformance is in place because of the government's more market friendly policies,' he says. 'Bottom-up support is fading on slower earnings growth, valuation grounds and the implications of the recent failed merger between National Bank of Greece and Alpha Bank. 'We therefore believe t...