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Blue-chip manager says banks to be avoided

Hugo Cox
RCM’s global chief investment officer Lucy MacDonald argues that performance comes from underweighting banks and that clarity on the sector is needed in Europe.

Large-cap stocks are relatively attractive, but not across all sectors, argues Lucy MacDonald, London-based chief investment officer of global equities at RCM. She says financials remain the sector to avoid among blue-chips, while other large-cap sectors are capable of sustainable earnings growth.

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