Jefferies

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European Franchise Picks List – Many Happy Returns

— Jefferies European Research Team

Approaching the first anniversary of our Franchise Picks List launch (11 October 2016), we review performance to date and look to maintain the impetus with nine new stocks added (Allianz, EDF, Meggitt, RBS, Royal Dutch Shell, Siemens, Swisscom, ThyssenKrupp and Yoox Net a Porter). We choose to remove five names (Airbus, Aviva, Danske Bank, FiatChrysler and Just Eat), all of which remain at Buy, except Airbus (cut to Hold on 22 September). FULL REPORT