30 de septiembre de 2014 / 12:48 / en 3 años

BUZZ-Electrolux slides 2.4% on Brazil/BRL worries

** Electrolux slides 2.4% on mild volumes, 4th straight day of losses on jitters over its earnings exposure to Brazil, though fundamentals look solid.

** Barclays says stock may show near-term weakness on softer earnings expectations while noting the purchase of GE’s appliances business offers longer-term upside on potential earnings accretion and corporate transformation offers.

** Barclays also notes sliding Brazilian real and a weak mix in Asia-Pacific as issues likely to squeeze Q3 profits. BRL has lost about 10% against USD since early Sept.

** Brazil is one of Electrolux’s main markets, making up 14% of group sales in 2013.

** Electrolux shares have been on a strong run since mid-Aug when it announced it was in discussions to buy GE Appliances, a deal that was finalized in early Sept.

** Electrolux shares up 13.2% YTD vs 6.3% rise in the STOXX Europe 600 Personal & Household Goods index. Scores well on StarMine’s Val-Mo model (80 out of 100) and analysts revisions model (70 out of 100). (RM: johannes.hellstrom.reuters.com@reuters.net)

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