I think that you can start forgetting about Europe remaining all green going forward.
Looking solely from the telecoms sector perspective, the following has occurred in the last few minutes:
UBS
Cut Ericsson to a Neutral and reduced PT to 16SEK. That was earlier today.
GOLDMAN SACHS
Literally minutes ago, cut Ericsson to a Sell and reduced PT to 12.5 SEK citing no safe haven and further margin erosion due to Huwaei.
Also cut Nokia to Neutral and reduced PT to EUR21.5 (overshoot to EUR19) citing slowing handset demand.
Also cut Alcatel-Lucent to EUR3 (Sell) citing the huge pension risk.
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Now, the heavyweights are starting to re-rate the telecom sector to neutral /sell. Until now, this had not been occurring.
europe mostly green now, page-2
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