goldman adds crh to stock portfolio - household appliances manufacturer

Goldman Sachs, the investment bank, announced yesterday that the Irish building materials group CRH was one of the increased shares in its portfolio.
After reorganizing its European portfolio, Goldman Sachs has lowered its weight in multiple markets, and Vodafone, the telecoms giant with Eircell, has also been hit.
In a research report, the bank said it had removed Philips, Abbey National bank and laflaf, Philips's competitors, from its model, but added the household appliance manufacturer SEB.
This is the second time in two months to support CRH.
Goldman Sachs also lowered its weight in Munich Reinsurance insurance group, while increasing its recommended weight in the BAE System, Compass Group and Nestle.
In its review of its European portfolio, Goldman Sachs reduced the weight of financial, electronic and Power shares and telecom shares by 1 pc.
It increases the proportion of the leisure, defense and food production sectors.
"We are cautious about the recent market outlook," the report said . "
The company predicts that "2002 of expected earnings will be cut sharply in the coming months, and higher yields may attract liquidity into debt rather than stocks.
Goldman Sachs says it is recommending a portfolio with low volatility and is "heavily reducing" its share of the most vulnerable earnings estimates ".
The Irish market heavyweight CRH fell 23 C, or 1. 19pc, to $19.
The Dublin Stock Exchange traded more than 1 million shares yesterday.