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London’s exodus to Wall Street to continue as UK stocks hit record 40% discount, Citi says
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The UK stock market trades at a record 40% discount to the US, a cheap rating that is hastening flight from the City of London, according to Citi.
Based on forward price earnings multiples the materials, food and beverage, and energy sectors trade at the biggest discount to their US peers, said the bank's European equity strategy team, led by Beata M Manthey.
“As...
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