Morning business news
'HEARTLESS' MARKETS BOUNCE BACK FROM 9/11 - Today is the fifth anniversary of the September 11 attacks on New York. It took the US stock market six weeks to recover from the collapse in share prices in the aftermath. If anything the resilience of the markets has improved in the wake of terrorist attacks in other financial centres such as Madrid and London.
Eugene Kiernan of AIB Investment Managers said world markets are up around 20% - and the Irish market 40% higher - compared with five years ago.
Mr Kiernan said markets were heartless, and asked themselves only two questions: how events would affect interest rates and profit levels. He said the answers to those two questions determined the direction of markets.
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posted by Window Cleaning Prof @ 9:50 PM
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