European consumer confidence is weak, pushing down expectations for Christmas sales revenue. Fio...
European consumer confidence is weak, pushing down expectations for Christmas sales revenue. Fiona Stokes at Britannic Asset Management says her portfolio is neutrally positioned in general and food retailers against the FT/S&P Europe ex-UK benchmark. Within food retailers she is overweight against its benchmark, largely in the form of a holding in Carrefour. She says this stock has a domestic focus and is good value. This contrasts with companies that have international and US exposure, including Ahold, a Dutch food retailer with exposure to the US. Its US operations, and t...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes