JPMorgan has named a raft of European stocks it described as having high yields, strong balance sheets and safe dividends, such as BT Group , Bayer and Sainsbury's . In a July 3 note detailing its outlook for the second half of the year, analysts led by Mislav Matejka stated: "Our pecking order for 2H is: bullish on Staples, Utilities, Telecoms and Healthcare, European Energy could hold up well." The bank said international markets had outperformed the U.S.
As well as Bayer, JPMorgan's picks in healthcare include Swiss drug company Novartis and French pharmaceuticals company Sanofi . Utility companies in the basket include Italian company Enel and Finnish firm Fortum . Alongside J Sainsbury, it named Norwegian seafood company Mowi as a staples pick. In energy, the bank likes French oil company TotalEnergies , while in telecoms it chose Spanish firm Telefonica , and Swedish company Telia as well as BT Group.
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Source: CNBC - 🏆 12. / 72 Read more »