UPDATE 1-Credit Suisse upgrades European autos sector

Newswire

Jan 28 (Reuters) - Credit Suisse upgraded European automobile/truck sector to "benchmark" from "underweight," on valuation and said car-sales momentum might not get worse than expected in 2009. The brokerage, in its global equity strategy note, also upgraded the steel sector to "benchmark" from "underweight," citing a likely rebound in China's gross domestic product (GDP) growth. China, which makes up about 32 percent of total demand for steel, should see its GDP rebound partly because ...

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