Jyske Bank - Sector Updates

Sector Updates

Sector Updates describe and/or analyse important factors within a certain sector, e.g. health care. Sector Updates may vary as to length and content and therefore you may find anything from a brief news item to a more elaborate analysis under this heading.

	Q1 2012 previews for international equities [10/04/12]
	Below we have listed our expectations of the Q1 accounts for the following ten international equities: BP, Carrefour, Dell, HP, Microsoft, Nokia, Samsung, Sanofi-Aventis, SAP, and Total.

	Q4 2011 previews for international equities [13/01/12]
	Below we have listed our expectations of the Q4 accounts for the following 11 international equities: Ericsson, Carrefour, Nokia, SAP, Microsoft, Sanofi, Total, Samsung, Telecom Italia, Dell and HP.

	Special report: price triggers in 2012 [30/12/11]
	In addition to general price triggers such as: 1) better market conditions due to the macro-economic turnaround/improvement, 2) good accounts, 3) favourable exchange-rate fluctuations and 4) rising/falling commodity prices, we see for each company one or more potential price triggers that in the course of 2012. We have pointed them out below. Furthermore, we have pointed out the risk that we fear the most for the companies in question in addition to a macro-economic weakening/deteriorated market conditions.

	Previews: Q2 2011 previews for international equities [08/07/11]
	Below we have listed our expectations of the Q2 accounts for the following 11 international equities: Ericsson, Carrefour, Nokia, SAP, Microsoft, Sanofi-Aventis, Total, Electronic Arts, Samsung, Dell and HP.

	Q1 2011 forecasts for international equities [15/04/11]
	We anticipate that the trend of generally good quarterly accounts in 2010 has continued into 2011! For Q1, we basically believe that the majority of the companies will release accounts in line with consensus or a shade above. But as opposed to 2010, 2011 will see fewer and fewer companies releasing blowout quarterly accounts! Among the ten companies we consider the likelihood of good accounts that exceed consensus markedly highest at: SAP (SELL), Dell (BUY) and Total (BUY).