Another player that has outperformed the bear excesses of the London market is Racal Electronics Plc, again on 30% profit exposure to the dollar: the hurricane has so far sliced 31% off its shares, a 5.5% worse performance than the market as a whole, and that is before any-one has begun to ask whether the feared de-Yuppiefication of London won’t cause demand for and use of cellular telephones to nosedive.
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