German consumer goods company Henkel, which makes washing powder, shampoos and cleaning products, joined rivals in taking a more cautious view of growth in emerging markets.It said on Thursday it had revised its growth forecast for emerging market economies downwards slightly and now expected consumer spending in those countries to rise by 4 percent in 2013, compared with a previous forecast for 5 percent.The firm, which makes Persil washing powder in Germany and Schwarzkopf hair products, however maintained its group profit and sales targets for 2013 and Chief Executive Kasper Rorsted said emerging markets remained its driving force in the quarter.Faced with recession-hit demand at home, European firms have been expanding heavily in emerging markets, which are expected to account for a third of sales this year, according to a Morgan Stanley analysis of 505 leading European groups.
Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS remained unchanged at $27.07. In the past year, the shares have traded as low as $14.18 and as high as $28.02. On average, 17656500 shares of MS exchange hands on a given day and today's volume is recorded at 3800.
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