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Article: Majority of fund managers believe shares are undervalued
- Article from:
- The Sunday Telegraph London
- Article date:
- March 9, 2003
- Author:
CopyrightCopyright 2003 The Sunday Telegraph London. Provided by ProQuest LLC. (Hide copyright information)
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ALMOST two thirds of Britain's most successful fund managers
believe the UK stock market is undervalued after the recent sharp
falls in share prices, according to a new survey.
The poll by Citywire Week, an internet magazine for financial
advisers, comes after a further dismal week on the stock market which
saw the FTSE100 index lose 4.5 per cent and dive back below the 3,500
barrier to end at 3,491.6 on Friday.
However, the growing view that shares are now cheap underlines the
hopes of many in the City that the markets will bounce back after the
uncertainty created by the looming war with Iraq has cleared.
According to the poll, 63 per cent of fund managers argued that
the stock market is ...