Blue Chip Update

The Euro Stoxx 50 is once more approaching recent highs following the dip resulting from news on Syria. I believe that current prices are justified and backed by company earnings and further upside is possible. However, at this stage enter the market with caution.

Preference should be given to recent recommendations. Luftahansa is particularly attractive.The Airline industry has long been under pressure, however, recent economic data are pointing towards a recovery which should provide some headwinds to this industry. The current price follows a significant rally. Still we believe that the stock if still underpriced and significant upside remains. Investors should be aware of the sensitivity of this stock to ecomonic data.

Cantor have a price target of €81 on Adidas.

BMW sells a record 1million veichles in less then 7 months for the first time

On a more humouristic note BNP locked a 91year old in a vault for 23 hours after staff left for the weekend.

Natixis have upgraded Essilor's price target to €95.

Apple have launched thier Iphone 5c and Iphone 5s. I am not particularly impressed by iPhones that have more colours but do not do much more then competitiors. The market was likewise lukeworm following the presenetation and the coming days are not expected to be positive. For holders of the stock October and the launch of the new ipad is the next target. I for one expect something special from the next ipad, and unless Apple deliver the market may not be so forgiving.