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UK economy will not get better any time soon, says Artemis

Artemis anticipates further volatility in the UK economy as a ‘riot’ continues to plague the global markets.

In its latest market update, it says: “The UK economy will not get better any time soon. Although we are adding to favourite stocks on weakness, we are not yet willing to call the bottom.

“There is the equivalent of a riot going on in financial markets. Trust has broken down. Confidence has disappeared. Lenders will not lend, depositors will not deposit and everybody wants to avoid insolvency.”

The profit-hunter identifies long-term returns in companies that are enjoying upgrades to their profits. It says: “In our stock selection we’re continuing to stick to basics: companies with strong free cash-flow, sound balance sheets – we’re avoiding companies with large debts – and sustainable dividends. Because overall markets will recover. The question isn’t whether, it’s when.”

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