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Article: Morgan urges caution from investors as equities recover
- Article from:
- The Evening Standard (London, England)
- Article date:
- July 22, 2009
- Author:
CopyrightCopyright 2009 Evening Standard - London. Provided by ProQuest LLC. (Hide copyright information)
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SELL into the rally. That is the advice coming out of Morgan
Stanley, which today advised clients not to become too bullish
because of the recent recovery in global equities.
The heavy-hitting broker said that it remains "in the tepid
recovery camp", warning that risks to growth have diminished rather
than evaporated. It reckons that shares could face more than just a
technical correction in the coming months.
Morgan Stanley's pointy-heads suggest investors should take note
of both sides of the equation: looking at which shares to short as
well as which to go long on.
Analysts also say that financial stocks will continue to set the
direction for the market but that they will not be so ...