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Article: Citigroup keeps Israel at "Overweight": Morgan Stanley: The farther from dependence on European and US money markets, the more stable a market is likely to be.
- Article from:
- Globes
- Article date:
- August 13, 2007
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Byline: Gil Shlomo
Aug. 13--Citigroup reiterates its "Overweight" recommendation for the Israeli market in its latest "CEEMA Strategy Notebook", entitled "Don't panic". The bank says, "In the eye of the storm. The sell-off in global credit markets may continue in the near term, but a full-scale collapse in risk appetite toward emerging markets looks unlikely to us. We still believe in global growth and recommend using recent market weakness to add to underperforming markets."
Citigroup says, "It must nevertheless be said that, relative to prior episodes of global risk aversion, emerging markets have held up better -- so far -- than usual." The bank ...