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Economy in 'dense fog', reforms such as GST induced significant uncertainty: Credit Suisse
According to findings by the financial service major, government spending growth is slowing down sharply, while half of the population is seeing weak income growth. Despite good monsoon resulting in agriculture volume growth pickup in 2016-17, low food prices moderated overall gross value of output, Mishra said. Further, he also said that various indicators like oil demand is still weak although it is showing a pick up.
Profit Growth Cloaked in `Fog' for Credit Suisse as India Slows
We are in a period of uncertainty and maybe for the next 3-4 months, I don't think we will get clarity, Mishra said, adding the central bank may ease policy to support growth. What the monetary policy committee chooses to do is their decision but given the way data points will play out, in my view, we will see meaningfully lower rates.
Markets forward looking, will judge big changes on merit: Neelkanth Mishra
Neelkanth Mishra, India equity strategist at Credit Suisse, does not think that investors will be disheartened as demonetisation did not yield expected results. Markets are always forward looking, and they are not there to judge past developments. The big changes such as RERA Act), GST, Insolvency and Bankruptcy code are huge reforms, and they will be judged on their own merits. In India, the economy has weaker global linkages than other EMs so stable global growth helps others more than us.
Indian economy is going through a 'dense fog'; will be a 'drag on growth': Credit Suisse
Credit Suisse' India Equity Strategist Neelkanth Mishra told reporters here that the Indian economy is going through a period of dense fog with uncertainty of macro-economic variables by itself is likely to impede investment intentions and act as a drag on growth, causing downgrades to GDP as well as earnings estimates for the next financial year. According to findings by the financial service major, government spending growth is slowing down sharply, while half of the population is seeing weak income growth.
FY19 to see harsher earnings cut; remain positive on markets: Credit Suisse
Despite a near 20 per cent rise in the markets in calendar year 2017 (CY17), Credit Suisse remains optimistic on the road ahead and sees no major downside, unless global cues disappoint. That said, Neelkanth Mishra, managing director, equity research at Credit Suisse does caution on more corporate earnings downgrades going ahead. The cuts are likely to be harsher for banks, discretionary, pharma and consumer staples sectors as the overall growth remains benign.
Is there a Bearish outlook for Wyndham Worldwide Corporation (NYSE:WYN) this week?
It improved, as 43 investors sold Wyndham Worldwide Corporation shares while 163 reduced holdings. Summit Financial Wealth Advsrs Limited Liability has 0.37% invested in Wyndham Worldwide Corporation. Schwab Charles Management Inc stated it has 0.05% of its portfolio in Wyndham Worldwide Corporation. Among 10 analysts covering Wyndham Worldwide Corporation , 4 have Buy rating, 1 Sell and 5 Hold. Credit Suisse initiated Wyndham Worldwide Corporation rating on Friday, February 5. Credit Suisse has Neutral rating and $63 target.
Analysts are on the Bearish side about Santander Mexico Fincl Gp SAB deCV (ADR) (NYSE:BSMX) this week.
Among 6 analysts covering Banco Santander Mexico , 2 have Buy rating, 1 Sell and 3 Hold. The stock of Santander Mexico Fincl Gp SAB deCV (ADR) has Outperform rating given on Tuesday, October 13 by Credit Suisse. Below is a list of Santander Mexico Fincl Gp SAB deCV (ADR) latest ratings and price target changes. Santander Mexico Fincl Gp SAB deCV (ADR) has risen 7.22% since September 9, 2016 and is uptrending.
This Week in Gold
It's a weekly graph of the SPDR Gold Shares ETF, a proxy for gold bullion's price. Others are not so much interested in gold itself but like the way the metal interacts with their portfolio's assets. Credit Suisse X-Links Gold Shares Covered Call ETN - This exchange-traded note attempts to turn gold into an income-producing asset by nominally writing covered calls on GLD shares.
Worldpay Group PLC (WPG) Receives Average Recommendation of "Hold" from Brokerages
Shares of Worldpay Group PLC have earned a consensus recommendation of Hold from the twelve research firms that are presently covering the company, Marketbeat reports. Seven research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. Credit Suisse Group restated an outperform rating and set a GBX 330 ($4.26) target price on shares of Worldpay Group PLC in a report on Tuesday, June 27th.
Market Live: Sensex, Nifty open higher, Sun TV Network shares rise 3%
The BSE Sensex opened higher on Tuesday against the previous session's closing. The shares of M&M, PowerGrid, Sun Pharma rose, whereas the shares of Hero MotoCorp and Adani Ports fell. Credit Suisse retained its 'Outperform' rating with price target of Rs980 while CLSA maintained a 'Buy' rating with price target hiked to Rs965 from Rs890. At 9.10am, the rupee was trading at 64.10 a dollar, down 0.11% from its Monday's close of 64.05.

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