(Boursier.com) — JCDecaux stumbles 3% to 17.5 euros at the start of the session, weighed down by a note from JP Morgan which downgraded the value to ‘underweight’ with 16.6 euros in the viewfinder. For the US bank, JCDecaux, Schibsted and Auto1 are the three names to avoid in the European sector amid fears of rising interest rates and weakening consumer budgets. According to the broker, advertising budgets are rapidly being reduced due to macro uncertainties, which will quickly translate into downward pressure on advertising revenue streams.
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