Lippo Suominen: The view changed

Financial House ON Pohjola has raised the North American stocks in its portfolios to a neutral weight this week. At the beginning of the year, North American stocks were underweight in the bank’s portfolios.

“You have to live according to the market. It has now been clearly seen that companies in the United States are doing great. The results are really strong”, chief strategist Lippo Suominen said on the broadcast of Talousamau on Wednesday.

“Of course, we’ve been involved the whole time, but at the beginning of the year American shares were a bit slower than elsewhere. The rise was a bit transferred to other markets, but after the war and with the earnings season, the situation has changed.”

Suominen reminded that the United States has relatively little sensitivity to the price of oil, which has risen due to the crisis in the Middle East.

European shares evoke mixed feelings, Suominen said. European shares are slightly overweight in OP’s portfolios.

“Growth seems to be stalling here once again. Oil will hit here, but on the other hand, if an agreement is reached in the Middle East, then Europe will be the biggest beneficiary.”

The defense industry is a big investment theme in Europe, but shares in the sector have already risen strongly.

“It has to be said that that theme has already been played quite a lot, the rates are quite high. It may be that we can breathe a little there.”