Quarterly disclosure
Highlighted in the table below is the proportion of all research recommendations published during March, February, January 2014 and December 2013 that are 'buy', 'hold', 'sell' or equivalent terms.
Non-independent research recommendations
| March | April | May | ||||
| No. of articles | % | No. of articles | % | No. of articles | % | |
| Buy | 109 | 46.0 | 125 | 53.4 | 98 | 46.4 |
| Sell | 84 | 35.4 | 87 | 37.2 | 90 | 42.7 |
| Hold | 44 | 18.6 | 22 | 9.4 | 23 | 10.9 |
| Total | 237 | 100 | 234 | 100 | 211 | 100 |
| Summary of quarter | ||
| No. of articles | % | |
| Buy | 332 | 48.7 |
| Sell | 261 | 38.3 |
| Hold | 89 | 13.0 |
| Total | 682 | 100 |
| December | January | February | ||||
| No. of articles | % | No. of articles | % | No. of articles | % | |
| Buy | 58 | 41.1 | 95 | 50.5 | 96 | 48.5 |
| Sell | 70 | 49.6 | 69 | 36.7 | 71 | 35.9 |
| Hold | 13 | 9.2 | 24 | 12.8 | 31 | 15.7 |
| Total | 141 | 100 | 188 | 100 | 188 | 100 |
| Summary of quarter | ||
| No. of articles | % | |
| Buy | 249 | 47.2 |
| Sell | 210 | 39.8 |
| Hold | 68 | 12.9 |
| Total | 527 | 100 |
Correct as at 2 April 2014. No representation or warranty is given as to the accuracy or completeness of this information. See full non-independent research disclaimer.
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