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Global markets bounced back well last week, inspired by rallies in Japan

and here in the UK. All the major markets except Germany made gains over

the five-day period, with the broad-based FTSE World index up by 1.8 per


After weeks of profit warnings and earnings&#39 downgrades, last week was

quieter on Wall Street as investors focused on what the Federal Reserve is

likely to do when it next meets this month. Economic data was mixed, with

the US purchasing management index down for July, consumer confidence also

fell in the month. Jobless data was better, with figures showing claims

dropped to the lowest weekly level since February.

In the UK, the momentum from the previous Friday, which saw the FTSE 100

gain nearly 2 per cent, carried through, driven in part by the technology,

media and telecoms sectors. Thursday saw a surprise 25bp cut in the base

rate by the Bank of England, which inspired the markets further, and FTSE

100&#39s six-day 300-plus-point rally was only halted on Friday after weak

economic data prompted renewed concern about the outlook for corporate


European markets shrugged off poor economic news and a steady stream of

indifferent earnings&#39 statements from corporate heavyweights, to end the

week in positive territory, with the FTSE Eurotop 300 gaining 1.6 per cent.

The BoE&#39s rate decision raised hopes of the European Central Bank following

suit. However, eurozone rates were left on hold despite a weak purchasing

management index, which were in line with market expectations (lowest level

since 1998) and a fall in business confidence.


Public puzzled over multi-ties

Consumers are “puzzled and cynical” about the prospect of multi-ties ifpolarisation is scrapped. A qualitative survey from H2B Thinking Research age-ncy questioned peoplearound the UK on their attitude to the relaxation of the regime, includingdirect salesforces selling additional products and IFAs becoming multi-tied. It revealed no one thought they would get a better deal from […]

Parsoli UK – Parsoli Global Islamic Equity Fund

Friday, 10 August 2001. Type: Oeic. Aim: Growth by investing in blue chip international stocks through Shar&#39iah. Minimum investment: Lump sum £1,000, monthly £50. Investment split: 100 per cent blue chip international funds. Isa link: Yes. Pep transfers: Yes. Charges: Initial 5.75 per cent, annual 2 per cent. Commission: Initial 3 per cent, renewal 0.6 […]

Divorcing couples urged to profit from Tep market

Couples going through a divorce should look to sell their mortgageendowment rather than surrender it, says market maker Beale Dobie. It claims over 50,000 people a year surrender a policy direct rather thanselling it on the Tep market for an average of 10-15 per cent more than thesurrender value. It believes that around £1bn of […]

Neville James launches B2B and B2C website

Neville James has launched a new website targeted at both consumers and IFAs. The site, at, includes instant online quotation facilities, online fund application forms, as well as an extensive range of downloadable literature. The site also includes the facility to view and print detailed information on any individual policy.


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