The European auto and transport sector has been a good performer despite structural over-capacity, a...
The European auto and transport sector has been a good performer despite structural over-capacity, according to Raj Shant, head of European equities at Newton. The sector has returned 16.62% in the year to 18 March 2002, despite the knock-on effects of 11 September, says Shant. 'This is surprising as there were less people reported to be on the roads and a distinct decline in travelling,' he says. According to Shant, the reason autos have performed well is that people have become more optimistic since economic indicators have begun to pick up. He says: 'It is clear that the outlo...
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