Investors can enjoy firming equity markets on the back of multiple expansions, triggered by cooled crude oil prices.
Despite an equities bull market of several years’ vintage, investors are likely to continue enjoying firming stock prices as time continues to march into 2007. Measured in dollar terms, global stock prices have more than doubled since early 2003, but rising profits have meant that a key measure of stock valuation is now at one of its least expensive levels in the past two decades.
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