Vladimír Urbánek (Kurzy.cz)
Markets  |  March 20, 2013 11:34:48

Fink (BlackRock): Cyprus is not a problem, the U.S. markets will grow by 20%


Executive Director of the world's largest investment company BlackRock Laurence D.Fink yesterday noted that Cyprus is not a major issue. Development around this island country does have a symbolic effect or impact on Europe, but in fact is not a major economic problem. According to Fink are talking about some 10 mld.EUR, which is negligible. Problems Cyprus market only remind the overall fragility of Europe as a whole, and also remind us that the solution to its debt problems, it is not a short-term issue and will require years of effort.
Fink praised the progress made in this regard in Spain or Italy, has made important progress reportedly also France.

Only a small portion of the company's clients in the past days made its profits and "left the playing table."

Fink also said that according to the indications available, it appears that stock markets rally after strong growth, which from the beginning of the world picked up the MSCI World by 6.5%, the looming space for about 5 percent correction or roughly 1-2-month pause . By the end of the year, but at least the U.S. capital markets attributed the significant further evaluation. The main engine of growth while U.S. stocks will be more dynamic growth of the local economy. Fink sees an unrealistic view of allowing for growth in U.S. GDP towards 4%.

Significantly positive outlook Fink has also Japan. which considers the local stock market is still undervalued for. Government stimulus efforts over time will significantly contribute to the profitable growth of the main Japanese companies

BlackRock manages assets worth about 3.8 trillion USD.

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Fink (BlackRock): Kypr není problém, US trhy porostou o 20%

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