The UK financials sector is coming back into favour as the main market continues a rally that began...
The UK financials sector is coming back into favour as the main market continues a rally that began in the middle of March. David McCraw, manager of the Edinburgh Financial Fund, says the sector is seen as a geared play on the direction of markets. Investment banks, stockbrokers, asset managers and life assurance companies, all of which suffered during the downturn, have seen a bounce in performance over the last three months. Indeed, over the year to 9 June 2003, the Speciality and Other Finance sector has returned 19.47%, compared to growth of just 6.38% in the FTSE All-Share. A...
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