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Daily Telegraph: Market report: Spotlight falls on ‘cheap’ Dutch master after UBS upgrade

By Ben Bland
Last Updated: 12:28am BST 05/09/2007

Oil and gas leviathan Royal Dutch Shell was the star performer after UBS upgraded the stock to buy from neutral, saying that it looks too cheap following the recent market shakedown.

The “B” shares added 56p to £19.85, with Shell contributing at least 5 points to the overall gain on the FTSE 100 index.

Jon Rigby, an analyst at UBS, said the macro-economic outlook has improved since he downgraded Shell in July. “The oil price has been very robust despite concerns over underlying demand and the possible unwinding of speculative derivatives positions,” he said.

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/09/05/cxmktrep105.xml
 

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