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Europe is set for a "weak stagnation" that will dampen the market, but several sectors and stocks stand out to UBS as good plays this year as growth stabilizes and inflation slows. "Our macro outlook for Europe is for a weak stagnation that takes European equities modestly lower but delivers another year of actionable divergences between sectors and stocks," UBS analysts led by Gerry Fowler wrote in a Jan. 19 note. "In 2024, we think the factors that will perform are domestic (smaller companies), quality and growth," the analysts wrote, adding that slower growth and lower yields should reduce the headwinds for the valuations of growth stocks. 'Well-positioned, domestic, quality, growth companies' "Well-positioned, domestic, quality, growth companies" that UBS has given buy ratings include Spanish clothing company Industria de Diseno Textil, British bakery chain Greggs and online real estate platform Rightmove as well as French construction player Vinci . It has a buy rating on ASML Holdings , SAP , Infineon Holdings and Capgemini , giving them potential returns of 22%, 17%, 40% and 10%, respectively.
Persons: Gerry Fowler, Vinci, — CNBC's Michael Bloom Organizations: UBS, International Monetary Fund, Industria de Diseno Textil, Software, Gartner, ASML Holdings, SAP, Infineon Holdings Locations: Swiss, Europe, Spanish, China
The climate plans of major companies continue to fall short—but there are some bright spots. The net-zero plans of Holcim and H&M have also won approval from the Science Based Targets initiative. Decent disclosureWhile scope 3 emissions can be challenging to calculate and control, having net-zero plans that cover the complete value chain is best practice. Apple, iPhone manufacturer Foxconn Technology Co. and H&M were all noted for helping their suppliers to access renewable energy either with financial support, advice or connecting deals. The retailer has worked with suppliers to reduce packaging waste and to adopt farming practices that sequester greenhouse gases, as well as helping them access renewable energy.
India's Reliance launches first in-house premium fashion store
  + stars: | 2022-09-29 | by ( ) www.reuters.com   time to read: +1 min
BENGALURU, Sept 29 (Reuters) - Reliance Industries Ltd's (RELI.NS) retail unit launched its first in-house premium fashion and lifestyle store on Thursday, as the billionaire Mukesh Ambani-led company continues to grab a bigger slice of India's luxury market. "The mid-premium fashion segment is one of the fastest growing consumer segments as millennials and the Gen Z are increasingly demanding the latest of international and contemporary Indian fashion," said Akhilesh Prasad, chief executive officer of the fashion and lifestyle arm of Reliance Retail. Register now for FREE unlimited access to Reuters.com RegisterThe company plans to have up to 40 stores across 12 cities over the next nine months, he added. In three years, Azorte will contribute to 15% incremental revenue of Reliance Retail's fashion and lifestyle business, Prasad said at the store launch in Bengaluru. The new store chain is a part of Reliance Industries' aggressive strides in the retail industry, forging partnerships with domestic and global brands.
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