By Adam Haigh
Jan. 12 (Bloomberg) -- Global stocks will gain 25 percent this year as government measures revive the economy and investors move from cash into equities, according to Nomura Holdings Inc.
Investors should be “overweight” in financial stocks and so-called cyclical industries, which are less resilient to economic cycles, global equity strategist Ian Scott wrote in a note to clients dated Jan. 9. Scott also recommended an “overweight” position in emerging-market stocks and Asian equities, excluding Japan.
Earnings will decline 21 percent globally this year and investors face “dilution” as more capital raising takes place to shore up companies’ balance sheets, according to the note.
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To contact the reporter on this story: Adam Haigh in London at ahaigh1@bloomberg.net.
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