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BoE throws weight behind high-tech stocks

Bank of England governor Eddie George has thrown his weight behind the strengths of high technology stocks, undermining previous claims the stocks were more of a mixed bag by United States Federal Reserve chairman Alan Greenspan.


Speaking after a top bankers meeting in Switzerland, George says: “The discussion suggested the particular strengths of high technology stocks in equity markets provide a better underpinning of equity values than perhaps had been appreciated.”


George&#39s comments fly in the face of the scepticism Greenspan demonstrated at US Federal Reserve congress early this year. He claimed the majority of high technology stocks would prove worthless, while acknowledging there was a basis for investor interest.


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