The shekel is the bank's foreign exchange pick in the EMEA.
"Despite a 13% sell-off from the January highs, Israel benefits from strong economic growth and low volatility, and the shekel is our foreign exchange pick in EMEA, which augers well for equity markets," says Barclays Capital in a new review of emerging markets.
Barclays says that emerging market equities underperformed developed market equities during the second quarter, and that emerging market equities do not yet warrant a long position going into the third quarter. "Rather, investors should take advantage of attractive valuations and suggest a tactical selective approach… We find the Czech Republic, Singapore, Israel and Russia attractive."
Published by Globes [online], Israel business news - www.globes-online.com - on June 26, 2011
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