MARKET TALK: Unilever Down On Sector Rotation - ING

28th Jul 2010 11:28

1028 GMT [Dow Jones] Unilever (UN) shares have been under pressure this week following sector rotation in which investors have a preference for financials now, ING Research says. Adds, other European consumer good and food companies such as Danone (DANOY) and Reckitt Benckiser (RB.LN) have also been under pressure this week, despite reporting earnings in line with expectations. Analyst said there is some profit-taking in the consumer goods sector whereas the postponement of Basel III rules for banks has reduced the risk profile of banks. Rates Unilever shares buy with EUR27 target price. Shares -1.1% at EUR22.91, having lost 4.6% week-to-date. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 28, 2010 06:28 ET (10:28 GMT)