Emerging stock markets have reached levels last seen before the collapse of Lehman Brothers in the latest sign of investor expectations of improving global growth.
The FTSE All-World Emerging Index yesterday reached 433.2 in late London trade – a level last seen the week before Lehman's demise sent markets into a tailspin.
Then, the index dropped almost 48 per cent in a little over five weeks but, from an October 27 low, has now rallied 90.1 per cent.
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