Advertisement
UK markets closed
  • FTSE 100

    8,139.83
    +60.97 (+0.75%)
     
  • FTSE 250

    19,824.16
    +222.18 (+1.13%)
     
  • AIM

    755.28
    +2.16 (+0.29%)
     
  • GBP/EUR

    1.1679
    +0.0022 (+0.19%)
     
  • GBP/USD

    1.2498
    -0.0013 (-0.11%)
     
  • Bitcoin GBP

    51,206.05
    -663.54 (-1.28%)
     
  • CMC Crypto 200

    1,333.16
    -63.38 (-4.54%)
     
  • S&P 500

    5,106.16
    +57.74 (+1.14%)
     
  • DOW

    38,289.01
    +203.21 (+0.53%)
     
  • CRUDE OIL

    83.90
    +0.33 (+0.39%)
     
  • GOLD FUTURES

    2,351.30
    +8.80 (+0.38%)
     
  • NIKKEI 225

    37,934.76
    +306.28 (+0.81%)
     
  • HANG SENG

    17,651.15
    +366.61 (+2.12%)
     
  • DAX

    18,161.01
    +243.73 (+1.36%)
     
  • CAC 40

    8,088.24
    +71.59 (+0.89%)
     

BUZZ-European autos: Goldman Sachs lifts estimates on FX effects

** Goldman Sachs (NYSE: GS-PB - news) lifts 2015-2018 EBIT forecasts for autos sector by 9 pct on FX benefits, with OEMs receiving the lion's share ** Sees European carmakers' 2015 net long currency exposure of 128 billion euros ($136 billion) boosting sector EBIT by 15 bln euros over the next 5 yrs at current spot rates ** Lifts estimate for European car sales volume growth for 2015 and 2016 to 6.5 pct and 4.0 pct vs previously 2.3 pct and 2.0 pct, citing rebounding consumer confidence amid ECB QE ** Adds Daimler to Conviction "buy" List citing a 4.3 pct YTD underperformance vs the STOXX autos index ** Daimler (Xetra: 710000 - news) gains 0.4 pct in early trade, top performer on 0.7 pct weaker DAX ** Goldman lifts Valeo (Paris: FR0000130338 - news) to "buy" from "neutral" and GKN (LSE: GKN.L - news) to "neutral" from "sell". Reiterates Conviction List "buy" ratings on Faurecia and Peugeot (Paris: FR0000121501 - news) ($1 = 0.9400 euros) (RM (LSE: RM.L - news) : maria.sheahan.thomsonreuters.com@reuters.net)