Global investors cut their UK equity and bond exposure in August in the wake of Britain's vote to leave the European Union and sought out higher-yielding emerging markets in reaction to Western central banks' loose monetary policies.
The financial system's ability to cope with Britain's vote to leave the European Union and with doubts over growth prospects show the benefits of rules introduced since the 2008 collapse of Lehman Brothers bank, a global watchdog said today.
World shares set up camp at one-year peaks today as a rally in Chinese stocks helped offset news that Japan's economic growth had ground to a halt in the last quarter, while crude oil prices extended their latest rally.
The dollar fell against a basket of currencies today as investors re-evaluated whether the Federal Reserve will raise interest rates this year, which also sent the higher-yielding Australian dollar to its loftiest level since late April.
Global stock markets rose today, after the Bank of England cut interest rates and revived a bond-buying program to cushion the blow to the economy from Britain's June 23 vote to leave the European Union.