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For example, the car and truck dealer affiliation elevated its buy by nearly 30% to 1,294 spots. BNP Paribas Asset Management is in search of commodity prices to push decrease by 5 p.c to 10 percent to contemplate them a purchase. Brent crude oil dropped by 14.5 p.c and fighting between Syrian forces (backed by Russia) and the Turkish military intensified in Northern Syria, with elevated causalities on each sides. Central Emerging Europe, Russia and Turkey seem higher positioned to weather this storm on the margin than the eurozone as they’ve full fiscal and monetary policy flexibility, in keeping with Jarek Tomczynski. BASF SE warned that it might have the bottom development in manufacturing because the financial disaster and have a second straight 12 months of falling revenue. Wood & Company believes that this creates robust downside dangers for GDP growth for the eurozone. Colin Harte, portfolio manager at BNP, said in a Bloomberg interview that if industrial metals akin to copper, iron ore and nickel fall from present prices then the asset manager “will actually build up very aggressive lengthy positions in them.” Bloomberg reports that they have been impartial and cautious on industrial metals and oil, with gold as an extended-term hedge towards potential dangers.