STOCKS NEWS EUROPE-Corporate spending to rebound-CS poll

Sixty-six percent of executives from large listed companies across Europe are expected to maintain or increase spending over the next 12 months, compared with 6 percent in the last 12 months, a Credit Suisse poll shows.

The broker says information technology and travel spending are the areas that are expected to improve the most versus the previous 6 months.

"Corporates are underinvested with the ratio of investment to GDP close to an all-time low," it says. "Typically, investment has a beta of 2.6X to GDP and given the decline in investment relative to GDP has been more severe than in any recession of the past 50 years, the recovery in investment could be even stronger."

Credit Suisse highlights WPP (WPP.L), Publicis (PUBP.PA), Millennium & Copthorne (MLC.L), InterContinental Hotels (IHG.L), Capgemini (CAPP.PA), Atos Origin (ATOS.PA), SAP (SAPG.DE), Autonomy (AUTN.L) as corporate spending recovery plays.

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