Pimco's Bill Gross has reduced exposure to US government debt to its lowest level since March as their flagship Total Return Fund continues to face redemptions. However, while Pimco is seeing withdrawals from the Total Return Fund, investors are adding money to other strategies, such as the Pimco Unconstrained Bond Fund. Pimco, the world largest bond fund manager, is an autonomous subsidiary of Allianz. An increasing interest rate scenario has led to fears that lesser contributions from Pimco may impact Allianz's earnings. I believe that this fear has led to undervaluation in ALV's price. At €113 ALV is an attractive long-term investment especially given the stocks consistent dividend payments.

BMW are forecasting that a rebound in European car sales will not happen until late 2014. Recovery will depend on economic progress in Southern Europe. We have upgraded BMW's price target to reflect a new sales outlook for the company. BMW continue to increase market share on a global level. Any dips in this stock are opportunities for the long term investor. I would buy before clear signals of a Southern European recovery emerge.

Lufthansa is my current top pick. At €14 this company is still cheap (very cheap compared to my 'gut feeling' price target). LHA is affected by economic growth, oil prices and political turmoil. Thus expect a roller coaster ride. Still I believe that this is currently our most interesting stock.

Jeffries’ has upgraded BARC to BUY. They have a 12 month price target of £367.00.

We have reduced our price target on Apple following the launch of the new iPhones. I believe that it will be difficult for Apple to repeat the spectacular results we experienced in the past few years. The new iPhones are… Normal…