Bank of America named the stocks it expects to provide a steady flow of cash, even if the overall economy is not doing so well.
Bank of America has named the European companies whose stocks are expected to perform robustly in the face of a possible economic downturn. It comes amid increasing signs that the European economy could be headed for a period of extended recession. Preliminary data last week pointed toward a slowdown in business activity growth for June , and earlier this month, the euro zone group of nations reported a quarter-on-quarter contraction , taking it into a technical recession.
The forward cash yield measures how much cash a company is expected to generate for its shareholders over the next year compared to its current market price. Among the companies named by BofA are: KBC from Belgium, Intesa Sanpaolo and Eni from Italy, Nordea Bank from Finland, Repsol from Spain, Barclays and Aviva from the United Kingdom, and BNP Paribas from France. These companies, among others, fall into the banks, energy, and insurance categories.
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