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‘Uninvestable’ UK market lost $340bn in Truss’s first month

Bloomberg A wild first month for Liz Truss’s government has seen at least £300 billion ($340 billion) wiped from the combined value of the nation’s stock and bond markets. While assets globally have been roiled by central bank efforts to tame surging inflation, confidence in the UK has been shaken. The September selloff on concerns about the Truss government’s tax ...

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Citi strategists favour technology, US stocks as recession looms

Bloomberg With the global economy likely to slow down next year, tech stocks and US equities are looking more attractive, according to Citigroup Inc. strategists. Strategists led by Robert Buckland expect 18% returns for global stocks by the end of 2023 but warn “it will likely be a volatile ride.” Growth strategies will be back in play as investor focus ...

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Burjeel raises AED1.1bn from oversubscribed IPO

  Abu Dhabi / WAM Burjeel Holdings has announced the successful completion of the bookbuild and public subscription process for its initial public offering (IPO) on the Abu Dhabi Securities Exchange (ADX). The price for the offering has been set at AED2.00 per ordinary share (the final offer price), and the offering size confirmed at 550,729,221 ordinary shares (offer shares), ...

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