Investors ditch defensive stance
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Your support makes all the difference.Investors ditch defensive stance
CONTINENTAL EUROPEAN investors have ditched their defensive stance of the past six months and raised holdings of international stocks amid hopes of a worldwide economic recovery, a survey by Merrill Lynch will reveal today.
According to the US bank, in February European fund managers doubled their investments in Japanese equities from 2 to 4 per cent of their portfolio. The prospect of further UK rate cuts also triggered an increase in the level of holdings in London-quoted companies.
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