Rather than make another 180-degree change in their beliefs, many investors have preferred to use the recent stock market strength to express their scepticism.
FRANKFURT (Börse Frankfurt). An almost ten-percent move in five trading days is a DAX move that investors have become very increasingly accustomed to since the summer; there have been no end of them between the Deutsche Börse’s weekly sentiment surveys. But this one seems to have taken many by surprise – as indeed has the abrupt revival of the many base metals and the oil price. Bewildered, one commentator categorised the stock market rally as ‘contrary to the fundamentals’. This is because the news over the period has continued to be dominated by concerns about deteriorating global growth, the eurozone’s in particular.
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