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‘Anglosphere’ will struggle to repeat last year's performance

From a capital market perspective 2011 could best be described as the triumph of the “Anglosphere”. The Standard & Poor’s 500 index returned 2.1%, outstripping the markets of all the other large economies. UK equities were down 2.6%, which compares more than favourably with declines of 16.5% for Germany, 15% for France, 21.4% for Italy, 18.7% for Japan and 14.4% for emerging markets.

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