Selective in better supplied environment;
Buy AKE, DSM, Linde
Sell LXS, EVK, Solvay
--> Key Recommendations
Buy AKE, DSM, Linde; Sell LXS, EVK, Solvay. We believe stocks with specific drivers beyond sensitivity to the improving macroeconomy that trade below peer group averages are best placed to outperform.
Cyclical stocks in segments suffering overcapacity look least well placed.