Directors Of European Business Services Cannot Get That Recovery?

The equity analysts of European business services at Nomura have got the chart with following bullet points, my emphasis:

- Net buyers: YTD there has been no real director buying. USG has bucked the trend with US$24m of net purchases.
- Net sellers: Despite ample evidence of improving economies, our sector has seen broad-based and significant directors’ net sales. Adecco’s Jacobs family is now a just below 20% shareholder, but retains large structured product exposure.

Click on chart to enlarge, courtesy of Nomura.

The comrades across the pond cannot get it either?