Report
Political risk re-emerging in France: Underweight French equities, BNP Paribas and AXA dropped from our ODDO BHF European Large Caps List
The vote of confidence requested yesterday by François Bayrou hastens the re-emergence of political risk in France. We believe the French Prime Minister's gamble is risky and that there is a high chance of the government falling on 8 September. We Underweight French equities as we believe they do not fully price in this risk, as evidenced by valuations that are higher today than on the eve of the dissolution. We are dropping BNP Paribas and AXA from our ODDO BHF European Large Caps List, with the flat performance (0%) for the former and strong performance (+22%) for the latter, excluding dividends.
Provider
Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Thomas Zlowodzki
Other Reports from Oddo BHF
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.