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Is the UK really emerging from the investment wilderness?


Is the UK really emerging from the investment wilderness?
Investors herald new era but distinguishing between true value opportunities and value traps remains crucial
After a long-time in the investment wilderness, the UK appears to be back in favour. UK equities have raced ahead of their peers over the past six months. What has turned the tide for the UK? And can it last once the relief over a Brexit deal and economic recovery has subsided?
The biggest factor in the UK’s turnaround has been sentiment. In theory, with only around a quarter of its revenues coming from the domestic economy, the UK market should have been only lightly affected by the uncertainty on Brexit and the poor pandemic response. Instead, the UK has been sent to investment purgatory by investors for the past four years. ....

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London needed a win. Instead it got its worst IPO in history


London needed a win. Instead it got its worst IPO in history
At first glance, Deliveroo’s stock market debut should have been a runaway success. The food delivery startup was a darling of the UK tech scene, and growing fast thanks to surging demand during the pandemic. Amazon recently bought 16% of the company in a major vote of confidence.
But London’s biggest IPO since 2011 was an unmitigated disaster. The stock plunged when trading started on Wednesday, and the shares eventually closed 26% below their listing price, wiping almost £2 billion ($2.8 billion) off Deliveroo’s initial market capitalization. The stock lost another 1.9% on Thursday. ....

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