Don’t believe in the market recovery, says David Buik, Senior Market Commentator, Panmure Gordon, as he joins us in today’s Tip TV Finance Show, to speak on indices, M&S, Standard Chartered (L:STAN) and HSBC.
On the markets, Buik believes that the indices are fully valued at current levels and the only existing value is in drugs and telecoms/media.
Key points:
M&S: Looks fully valued
Standard Chartered: Disastrous loans in India and elsewhere. Problem ahead?
HSBC: Size of business shrinking
Buik comments that the recent earnings of the bank aren’t impressive and only show that the recovery is in strange areas, with the size of business shrinking despite higher profits.