Monday, October 22, 2007

Where now? Not the UK banks, say Credit Suisse

From FT Alphaville:

Credit Suisse on Monday piled on the gloom, advising their clients to avoid UK banks as the sector, and broader market, learns to live with heightened volatility. The team, led by Jonathan Pierce, cut expected 2008 earnings by about 18 per cent and said:

Sector PE valuations are towards the bottom end of historical ranges, but rightly so...MORE