The valuation of European equities remains supportive, but the upside is clearly shrinking.
More Quotes from Deutsche Bank:
Sales show no clear evidence of demand destruction.Deutsche Bank
There would be a massive period of uncertainty.
Deutsche Bank
By first snow we expect extremely low stocks of heating oil and natural gas, with major pressure on refineries that need to (have maintenance). The fact is, some demand destruction is needed to balance this market.
Deutsche Bank
We believe the 21 percent discount to our target price should close through 2006.
Deutsche Bank
We feel it is impossible to present a Buy recommendation on a stock which is capable of being declared insolvent within two months and for which we have no clarity on the prospective group structure and strategy.
Deutsche Bank
Oil demand elsewhere in Asia has slowed somewhat relative to 2004, but is still growing. Despite some evidence that demand growth has been impacted by higher prices, we believe this is temporarily moderating demand.
Deutsche Bank
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