Despite optimism over the state of the global economy, chief financial officers from around the globe are becoming increasingly wary of asset valuations -- with some stating that they have held back on deals because of froth in markets.
More than 92 percent of respondents believe that U.S. stock valuations are high, according to a CNBC survey of 26 chief financial officers (CFO) from Europe and Asia who make up the CNBC CFO Council. Half of those CFOs who said their company was looking at acquisitions, admitted that they had completed the deal regardless of these valuations. About a third said valuations had been a deterrent.
The technology sector was a particular area of valuation concern, with more than 83 percent of those surveyed seeing valuations in the technology sector as being high, with over 8 percent believing that they are extremely high. Twitter's current price of around $40 since its initial public offering in November is also overvalued, according to 86 percent of respondents.