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Citi recommends investment on the Italian stock market
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Loading...According to Citi, the rise in populism in Italy will not be enough to upset investors this year. According to the Wall Street leader, in spite of some hedge fund expectations, the Italian shares will end the year on positive territory.
Despite the populist speeches and the refugee crisis, Citi thinks Italy will declare a budget for 2019 that will not have a deficit higher than 2% of GDP. This would mean that Italy would not violate European rules and the government debt reduction would continue, albeit at a slower pace. The bank said investors in Italian stocks would benefit from such a scenario.
Here's where Citi Bank advises to invest after announcing the new budget - 2019
"It is good to head to the export-oriented companies where we can invest more money, and we see shortly Prysmian, Fineco, Moncler and Ferrari." As far as the domestic market is concerned, it is better to put less money there, mainly in the utilities sector. , ERG and Mediaset are a good choice. " - said the bank.
Source: CNBC
Photo: Pexels.com
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