With European markets directionless and uncertain, there is little reason to expect any sustained ra...
With European markets directionless and uncertain, there is little reason to expect any sustained rally in the short term, according to Alastair Duffy, European fund manager at Aegon Asset Management. He says: 'Recently, markets have been hit by a lot of bad news in the form of accounting scandals. News of energy companies booking round-trip trades, that the Securities and Exchange Commission was investigating Tyco, and that WorldCom and Xerox had overstated profits, have all served to stoke investors' fears.' It is turning out to be the year of the balance sheet, according to D...
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