SWIP's James Clunie has said he is shorting Unilever in the belief the market is "very complacent" over the stock's resilience.
Speaking at Investment Week's Senate Summer Investment Conference in Monte Carlo, Clunie said he has begun shorting Unilever within his SWIP UK Flexible Strategy fund on the view its earnings power is now starting to wane. Clunie also pointed to recent disappointing trading updates from its large-cap peers as a sign the much-loved consumer staples giants are now coming under pressure. "The market is very complacent on these stocks but you have seen earnings warnings from Danone and Procter & Gamble in recent days. Unilever is one of my latest shorts," Clunie said. French group Dano...
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