Hints and tips:
...On our new estimates, L’Oréal trades on an FY21E P/E of 32.6x, the highest premium versus the consumer staples sector for over 10 years....
...Stress testing balance sheets for GFC falls in EBITDA As we move into recession mode, incoming questions from investors have switched from a focus on the P&L to the balance sheet....
...• 2) On P/E metric, Cyclicals are not at extremes vs Defensives ... Their P/E relative bottomed at 0.7x and 0.8x in the last two downturns, vs 1.0x current....
...The bulls will point to a P/B below 1, FY21e EV/EBITDA of 4x and EFCF Yield of 8% as evidence of clear value....
...Encouragingly, this momentum was sustained further down the P&L — reflecting the relatively small increase in costs required for FairFX to keep growing....
...http://on.ft.com/1a4isfg India approves $1.6bn acquisition of Agila Specialties by Mylan India’s government has given the go-ahead for US-based pharmaceutical company Mylan’s long-stalled $1.6bn acquisition...
...-based specialty chemicals company Houghton International HGINL.UL from a private equity fund for $1.05 billion, Reuters reports. http://uk.reuters.com/article/2012/11/07/business-us-houghton-gulfoil-idUKBRE8A60LW20121107...
...The S&P 500 and the Dow Jones industrial average snapped their four-day winning streak. The Dow closed 1 per cent lower at 12,582.18, while the S&P fell 0.6 per cent to 1,367.69....
...The life assurer fell 1.9 per cent to 103p after Citigroup cut its recommendation from “buy” to “hold”, noting that L&G's embedded value assumptions “appear aggressive”....
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