Dow Jones Newswires -- January 6, 1999
BT Alex. Brown Favors Defensive Stocks For Europe In 1999
LONDON (Dow Jones)--BT Alex. Brown is taking a cautious approach to Europe in 1999, favoring defensive stocks in its Pan-European 15 portfolio.
BTAB said the portfolio "largely favors defensive plays - financially and economically defensive companies - and those expected to benefit from restructuring."
The fifteen stocks are: BG PLC (BRG), British Telecommunications PLC (BTY), Glaxo Wellcome PLC (GLX), Canal Plus SA (F.CLP), Endesa SA (ELE), Mannesmann AG (G.MMN), Nokia Corp. (NOKA), Novartis AG (Z.NOV), Pearson PLC (U.PSO), Powergen PLC (PWG), Rhone-Poulenc SA (RP), Richemont Securities AG (O.RCH), UBS AG (Z.UBS), Telecom Italia SpA (TI) and VNU NV (N.VNU).
Nokia, UBS and Novartis were part of BTAB's Pan-European 15 portfolio last year.
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