Financial Times

金融时报

2026年10月13日，星期二

加密货币

吉迪恩·拉赫曼，第25页

“脱欧猫门”为英国提供了一条回归之路

英国 £3.70；爱尔兰共和国 €4.10

曼城如何引发地缘政治冲突

分析，第13页

泽连斯基称普京违反能源目标“停火协议”

——基辅称电力和天然气厂遭袭击——俄罗斯领导人无视特朗普计划

亨利·福伊与

亨利·波特及

拉斐尔·明德 —— 华沙

克里斯托弗·米勒 —— 基辅

乌克兰总统泽连斯基昨日指责俄罗斯违反了唐纳德·特朗普宣布的“能源停火”协议，并表示除非莫斯科停止袭击，否则基辅将继续其打击行动。

针对美国总统在其 Truth Social 平台上宣布俄罗斯和乌克兰已同意停火的声明，泽连斯基昨日表示，莫斯科在夜间袭击了乌克兰全境的电力和天然气设施。

他说：“在（特朗普的）帖子发布后，俄罗斯立即发动了定向打击……很明显，普京不看 Truth Social。”

在华沙安全论坛上，泽连斯基表示，如果俄罗斯准备这样做，基辅“准备尊重能源停火”。

克里姆林宫发言人德米特里·佩斯科夫在回应中表示，莫斯科仅会停止袭击一天，以便乌克兰举行选举，这实际上拒绝了停火协议。他补充道：“他们需要60天的停火不是为了选举，而是为了重新集结，疗伤并继续战争。”

由于特朗普周五与弗拉基米尔·普京达成协议，由俄罗斯释放更多柴油，欧洲柴油价格昨日下跌。泽连斯基表示，美国总统本应找他来达成一项“柴油协议”。柴油作为工业和农业的关键燃料，由于中东和乌克兰的战争使全球供应紧张，其价格已大幅飙升。

泽连斯基昨日在华沙发表讲话时说：“昨晚，俄罗斯的炼油厂没有起火。但在午夜，一架俄罗斯喷气式见证者无人机击中了乌克兰的一家天然气厂……这就是普京给特朗普的回答。”

在泽连斯基的会议演讲后，俄罗斯无人机昨日继续袭击基辅，密集的防空火力与爆炸声在全市回荡。乌克兰首都大部分地区的供水中断。

乌克兰国家天然气公司 Naftogaz 的代理首席执行官谢尔盖·费多伦科表示，关键设备被俄罗斯喷气式无人机损坏。他表示，他的员工正在“尽一切努力尽快处理袭击后果，并防止任何对能源系统稳定运行的风险”。

基辅以西的季托米尔地区州长维塔利·布内奇科表示，俄罗斯无人机袭击了当地的能源和铁路设施。

在论坛上早于泽连斯基发言的波兰总理唐纳德·图斯克表示，俄罗斯“对缓解紧张局势、停火或和平不感兴趣；他们只对统治感兴趣”。

在谈到俄罗斯针对欧洲的混合战争时，北约最高司令警告莫斯科，该联盟已准备好反击。

亚历克斯·格林克维奇在同一场会议上表示：“我不认为冲突迫在眉睫。但考虑到在破坏和纵火方面如此大量的活动，我认为联盟周围的人民感到紧张。”

他补充道：“如果有人愚蠢到攻击我们，我们将战斗。”

波兰警告北约第4页

柴油价格下跌第15页

金融时报观点第24页

克里斯托夫·吕尔第25页

📄 Original Section

- Kyiv claims power and gas plants hit - Russian leader defies Trump plan

HENRY FOY AND

HENRY POT AND

RAPHAEL MINDER — WARSAW

CHRISTOPHER MILLER — KYIV

Ukrainian President Volodymyr Zelenskyy yesterday blamed Russia for breaking an “energy ceasefire” announced by Donald Trump, signalling that Kyiv would continue its strikes unless Moscow halted attacks.

Responding to the US president's declaration on his Truth Social platform that Russia and Ukraine had agreed to a ceasefire, Zelenskyy yesterday said Moscow had attacked power and gas facilities across Ukraine overnight.

“Immediately after [Trump’s] post, Russia launched a targeted strike . . . It was clear that Putin does not read Truth Social,” he said.

Speaking at the Warsaw Security Forum, Zelenskyy said Kyiv was “ready to respect an energy ceasefire if Russia is ready to do the same”.

Kremlin spokesperson Dmitry Peskov said in response that Moscow would only halt attacks for one day to allow Ukraine to hold elections, in effect rejecting the ceasefire. “They need 60 days of ceasefire not for elections, but to regroup, heal their wounds and continue the war,” he added.

European diesel prices fell yesterday following Trump's deal on Friday with Vladimir Putin for Russia to release more diesel. Zelenskyy said the US president should have come to him to cut a "diesel deal". The price of diesel — a vital fuel for industry and agriculture — has soared as wars in the Middle East and Ukraine strain global supplies.

Speaking in Warsaw yesterday, Zelenskyy said: "Last night, Russian oil refineries were not burning. But at midnight a Russian jet-powered Shahed drone hit a gas plant in Ukraine . . . This is Putin's answer to Trump."

Russian drones continued to attack Kyiv yesterday after Zelenskyy's conference speech, with heavy air-defence fire and explosions reverberating throughout the city. Water was knocked out in much of the Ukrainian capital.

Sergii Fedorenko, acting chief executive of Ukraine's state gas company Naftogaz, said critical equipment was damaged by a Russian jet-powered drone. He said his employees were “doing everything they can to address the consequences of the strike as quickly as possible and prevent any risks to the stable operation of the energy system”.

Vitaliy Bunechko, the governor of Zhytomyr region west of Kyiv, said that Russian drones had struck energy and railway facilities there.

Speaking ahead of Zelenskyy at the forum, Poland's Prime Minister Donald Tusk said Russia was “not interested in de-escalation, ceasefire or peace; they are only interested in domination”.

Addressing Russia's hybrid war against Europe, Nato's supreme commander warned Moscow that the alliance was ready to strike back.

"I do not assess that conflict is imminent," said Alexus Grynkewich at the same conference. "[But] with the amount of activity going on in terms of sabotage and arson, I think our population around the alliance are nervous."

He added: "If someone is foolish enough to attack us, we will fight."

Poland warns Nato page 4

Diesel prices fall page 15

FT View page 24

Christof Rühl page 25

Muse时刻：扎克伯格在推出“前沿”AI平台时强调反感监管

马克·扎克伯格上个月在加利福尼亚州门洛帕克演示Muse —— Minh Connors / Bloomberg

马克·扎克伯格再次坚决拒绝加强对人工智能的监管，在发布一款强大的新AI模型之际，他发出信号，表示Meta将继续在该技术上投入巨额资金。

在接受《金融时报》采访时，这位Facebook联合创始人声称，Muse Wonder 处于“AI领域目前所能实现的尖端水平”。

他补充说，Meta专注于为消费者提供“个人赋能”的AI，使其在面对AI领跑者——Anthropic的Claude和OpenAI的ChatGPT时具有竞争优势。

自上个月推出Muse应用以来，Meta的股价上涨了近10%。这款个人AI助手利用机器人执行从订购杂货到预订假期等日常任务，已成为美国下载量最高的应用程序。

这位Meta首席执行官拒绝就AI可能给人类带来大规模毁灭的担忧发表评论。

他说：“我更倾向于认为，AI是一种可以通过常规护栏进行工程化处理并负责任地构建的技术，而不是那种将AI拟人化的愿景，即认为它将自行发展。” 采访见第12页，Lex专栏见第26页

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简报

▶ 华尔街银行准备迎接纪录连胜的终结

分析师预计，美国最大的投资银行将在下周报告今年最糟糕的交易收入，这引发了人们对该行业纪录连胜即将结束的担忧。—— 第10页

▶ 伯纳姆争取商业支持

由于企业高管担心10月28日预算案中的税收上涨，首相本周将加强与企业的接触，在唐宁街举行一场速配约会风格的招待会。—— 第2页

▶ 欧盟汽车协议“在即”

总统埃马纽埃尔·马克龙表示，一项旨在推迟欧洲淘汰内燃机并增强其在面对中国竞争对手时陷入困境的汽车工业的协议“在即”。—— 第4页

▶ 高街品牌待售

随着交易活动回归消费行业，私募股权集团正寻求出售高街品牌，如连锁餐厅PizzaExpress和Morrisons超市集团。—— 第14页

希思罗机场跑道警报：Thomas Woldbye警告称，如果安迪·伯纳姆在今年不对这项£33bn项目给予明确支持，希思罗机场的投资者将重新评估建设第三条跑道的计划。—— 第2页

马斯克登顶捐赠榜：埃隆·马斯克已成为共和党在11月关键中期选举中争取维持国会控制权的最大捐赠者，在全美关键选区投入了超过$275mn。—— 第8页

▶ CVC对以色列交易保持沉默

由于担心引发争议，这家收购集团一直试图对其投资一家以色列国防公司的事实保持沉默，仅向基金投资者披露了该交易。—— 第10页

▶ 辞职冲击梅尔茨

德国社会民主党的劳工部长突然辞职，引发政府洗牌，因为总理弗里德里希·梅尔茨的执政联盟在争议性改革上难以达成一致。—— 第6页

伦敦金融城抨击伯纳姆试图禁止工作合同中竞业禁止条款的举措

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共和党致力于重塑尼克松的政治遗产

理查德·尼克松是 50 多年前因蒙羞而辞职的美国总统，如今共和党正致力于为其名誉进行“洗白”。“尼克松最大化”（Nixonmaxxing）视频的播放量已达数百万次，而他在中东的“策略手册”以及对抗媒体的立场正受到 MAGA 选民的赞赏。这场重新评估其遗产的尝试得到了副总统 JD Vance 的支持，他表示：“如果水门事件发生在今天，它可能只是一则 12 小时的新闻。” 难以复兴 ▶ 第 8 页

马丁·阿诺德（MARTIN ARNOLD）与基兰·史密斯（KIERAN SMITH）报道

对冲基金和银行对安迪·伯纳姆（Andy Burnham）旨在终止在雇佣合同中使用竞业禁止条款的计划表示强烈反对，警告称这可能会使英国公司处于不利地位，并面临“将婴儿与洗澡水一起倒掉”的风险。

这位首相计划限制竞业禁止条款（该条款限制员工在离开当前雇主后的一段时间内为竞争对手工作的能力），这一举措受到了科技团体的欢迎。但他的承诺迅速引发了伦敦金融城的强烈反弹。

“我们的成员对这一提议感到非常失望，”代表一些大型金融集团的 TheCityUK 执行董事约翰·戈弗雷（John Godfrey）表示，“他们认为这可能会损害英国金融和专业服务的竞争力。”

金融城中的许多公司，包括对冲基金、投资银行和财富管理公司，依赖竞业禁止协议来试图阻止明星交易员、基金经理和交易撮合者被竞争对手挖走。

伯纳姆表示，这种做法“阻碍了创新”，并补充道：“我们需要创新者能够在公司之间自由流动，并在不受限制的情况下创办自己的公司。”

竞业禁止条款的支持者则认为，这些条款对于保护知识产权、客户关系以及对关键员工培训与开发的投资至关重要。

“英国政府在努力支持科技行业的过程中，面临着将婴儿与洗澡水一起倒掉的风险，”代表对冲基金和私募股权的替代投资管理协会（Alternative Investment Management Association）的 Jiří Król 表示。

在顶尖对冲基金中，竞业禁止条款通常意味着投资组合经理在加入竞争对手之前必须远离市场长达两年，而分析师可能需要等待一年。

上个月，一些英国顶尖科技初创公司的创始人敦促部长们限制此类条款的使用，认为这阻碍了企业与加州竞争对手竞争的能力，因为加州禁止使用竞业禁止条款。

政府表示：“我们希望英国成为公司创业、规模化、上市和留驻的最佳地点，确保竞业禁止条款不成为招聘顶尖人才的障碍，是确保这些创新企业不受阻碍的关键途径。”

约 500 万名英国雇员的合同中包含竞业禁止条款——期限通常约为六个月。

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📄 Original Section

Republicans on a mission to reshape Nixon's legacy

The reputation of Richard Nixon, the US president who resigned in disgrace over 50 years ago, is the subject of a rehabilitation drive by Republicans. 'Nixonmaxxing' videos are racking up millions of views while his Middle East 'playbook' and stand against the media are being lauded by Maga voters. The bid to reassess his legacy is backed by vice-president JD Vance, who said: 'If Watergate happened tomorrow it would be like a 12-hour news story.' Unlikely revival ▶ PAGE 8

MARTIN ARNOLD AND KIERAN SMITH

Hedge funds and banks have hit out at Andy Burnham's plan to end the use of non-compete clauses in employment contracts, warning it could disadvantage UK companies and risks “throwing the baby out with the bathwater”.

The prime minister's plan to restrict non-compete clauses, which constrain a worker's ability to work for a rival for a period of time after leaving their current employer, has been welcomed by tech groups. But his promise triggered a swift backlash in the City of London.

"Our members are very disappointed by this proposal," said John Godfrey, a managing director at TheCityUK, which represents some of the largest financial groups. "They feel it will potentially damage the competitiveness of UK financial and professional services."

Many companies in the City, including hedge funds, investment banks and wealth managers, rely on non-compete agreements to try to stop star traders, money managers and dealmakers being poached by rivals.

Burnham said the practice was “a drag on innovation”, adding: “We need our innovators to be able to move freely between companies and start their own without constraint.”

Supporters of non-compete clauses say they are needed to protect intellectual property, client relationships and investment in training and development of key staff.

"The UK government risks throwing the baby out with the bathwater in its efforts to support the tech sector," said Jiří Król at the Alternative Investment Management Association, which represents hedge funds and private equity.

At top hedge funds, non-compete clauses often mean portfolio managers have to sit out of the market for up to two years before joining a rival, while an analyst might have to wait a year.

The founders of some top UK tech start-ups last month urged ministers to limit their use, arguing they hampered businesses' ability to compete with Californian rivals, which are banned from using non-compete clauses.

The government said: “We want the UK to be the best place for firms to start, scale, list and stay, and ensuring non-compete clauses aren’t a barrier to hiring the best talent is a key way to make sure these innovative businesses aren’t held back.”

Non-compete clauses are included in the contracts of about 5mn British employees – typically with a duration of about six months.

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期号：42,380 ★

印刷地：伦敦、利物浦、格拉斯哥、都柏林、法兰克福、米兰、马德里、纽约、芝加哥、旧金山、东京、香港、新加坡、首尔、迪拜

9"770307"176128"

股票市场 | 10月12日 | 前值 | 涨跌幅% | 标准普尔500指数 | 7802.05 | 7811.54 | -0.12 | 纳斯达克综合指数 | 27294.77 | 27366.17 | -0.26 | 道琼斯工业平均指数 | 51870.64 | 51654.95 | 0.42 | Euro Stoxx 50 | 6201.21 | 6173.37 | 0.45 | FTSEurofirst 300 | 2538.74 | 2523.06 | 0.62 | FTSE 100 | 10656.28 | 10552.05 | 0.99 | 富时全股指数 | 5746.57 | 5693.90 | 0.93 | CAC 40 | 7832.88 | 7803.33 | 0.38 | Xetra Dax | 25277.68 | 25087.27 | 0.76 | 日经225 | 休市 | 69030.92 | - | 恒生指数 | 24271.20 | 24211.35 | 0.25 | MSCI全球指数 | 4970.00 | 4952.50 | 0.35 | MSCI新兴市场指数 | 1706.80 | 1697.60 | 0.54 | MSCI ACWI指数 | 1146.70 | 1141.30 | 0.47 | 全球市场

货币 | 货币对 | 10月12日 | 前值 | 货币对 | 10月12日 | 前值 | $/€ | 1.117 | 1.120 | €/$ | 0.895 | 0.893 | $/£ | 1.322 | 1.324 | £/$ | 0.756 | 0.755 | £/€ | 0.845 | 0.846 | €/£ | 1.183 | 1.182 | ¥/$ | 158.695 | 158.330 | ¥/€ | 177.310 | 177.369 | ¥/£ | 209.787 | 209.668 | 英镑指数 | 85.322 | 85.29 | Sfr/€ | 0.932 | 0.931 | Sfr/£ | 1.103 | 1.100 | 10月12日 | 前值 | 涨跌幅% | 比特币 | 82641.50 | 82746.52 | -0.13 | 以太坊 | 2527.97 | 2485.01 | 1.73 | 10月12日 | 前值 | 涨跌幅% | WTI原油 | 93.70 | 91.85 | 2.01 | 布伦特原油 $ | 106.70 | 104.67 | 1.94 | 黄金 $ | 4164.89 | 4188.82 | -0.57 | 政府债券 | 收益率 (%) | 10月12日 | 前值 | 变动 | 美国 2年期 | 4.77 | 4.76 | 0.01 | 美国 10年期 | 5.24 | 5.27 | -0.03 | 美国 30年期 | 5.60 | 5.64 | -0.04 | 英国 2年期 | 4.74 | 4.71 | 0.03 | 英国 10年期 | 5.38 | 5.41 | -0.03 | 英国 30年期 | 5.93 | 6.00 | -0.07 | 日本 2年期 | 1.86 | 1.88 | -0.02 | 日本 10年期 | 3.00 | 3.04 | -0.04 | 日本 30年期 | 4.10 | 4.13 | -0.03 | 德国 2年期 | 3.12 | 3.06 | 0.06 | 德国 10年期 | 3.47 | 3.47 | 0.00 | 德国 30年期 | 3.84 | 3.85 | -0.01 | 价格为本版最新数据

数据由 ICE 提供。www.ice.com

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来源：金融时报研究；希思罗视觉新闻：Cleve Jones

国内新闻

预算担忧

📄 Original Section

For the latest news go to www.ft.com

No: 42,380 ★

Printed in London, Liverpool, Glasgow, Dublin, Frankfurt, Milan, Madrid, New York, Chicago, San Francisco, Tokyo, Hong Kong, Singapore, Seoul, Dubai

9"770307"176128"

STOCK MARKETS | Oct 12 | Prev | %chg | S&P 500 | 7802.05 | 7811.54 | -0.12 | Nasdaq Composite | 27294.77 | 27366.17 | -0.26 | Dow Jones Ind | 51870.64 | 51654.95 | 0.42 | Euro Stoxx 50 | 6201.21 | 6173.37 | 0.45 | FTSEurofirst 300 | 2538.74 | 2523.06 | 0.62 | FTSE 100 | 10656.28 | 10552.05 | 0.99 | FTSE All-Share | 5746.57 | 5693.90 | 0.93 | CAC 40 | 7832.88 | 7803.33 | 0.38 | Xetra Dax | 25277.68 | 25087.27 | 0.76 | Nikkei | Closed | 69030.92 | - | Hang Seng | 24271.20 | 24211.35 | 0.25 | MSCI World | 4970.00 | 4952.50 | 0.35 | MSCI EM | 1706.80 | 1697.60 | 0.54 | MSCI ACWI | 1146.70 | 1141.30 | 0.47 | World Markets

CURRENCIES | Pair | Oct 12 | Prev | Pair | Oct 12 | Prev | $/€ | 1.117 | 1.120 | €/$ | 0.895 | 0.893 | $/£ | 1.322 | 1.324 | £/$ | 0.756 | 0.755 | £/€ | 0.845 | 0.846 | €/£ | 1.183 | 1.182 | ¥/$ | 158.695 | 158.330 | ¥/€ | 177.310 | 177.369 | ¥/£ | 209.787 | 209.668 | £ Index | 85.322 | 85.29 | Sfr/€ | 0.932 | 0.931 | Sfr/£ | 1.103 | 1.100 | Oct 12 | Prev | %chg | Bitcoin | 82641.50 | 82746.52 | -0.13 | Ethereum | 2527.97 | 2485.01 | 1.73 | Oct 12 | Prev | %chg | Oil WTI | 93.70 | 91.85 | 2.01 | Oil Brent $ | 106.70 | 104.67 | 1.94 | Gold $ | 4164.89 | 4188.82 | -0.57 | GOVERNMENT BONDS | Yield (%) | Oct 12 | Prev | Chg | US 2 Yr | 4.77 | 4.76 | 0.01 | US 10 Yr | 5.24 | 5.27 | -0.03 | US 30 Yr | 5.60 | 5.64 | -0.04 | UK 2 Yr | 4.74 | 4.71 | 0.03 | UK 10 Yr | 5.38 | 5.41 | -0.03 | UK 30 Yr | 5.93 | 6.00 | -0.07 | JPN 2 Yr | 1.86 | 1.88 | -0.02 | JPN 10 Yr | 3.00 | 3.04 | -0.04 | JPN 30 Yr | 4.10 | 4.13 | -0.03 | GER 2 Yr | 3.12 | 3.06 | 0.06 | GER 10 Yr | 3.47 | 3.47 | 0.00 | GER 30 Yr | 3.84 | 3.85 | -0.01 | Prices are latest for edition

Data provided by ICE. www.ice.com

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Sources: FT research; Heathrow Visual journalism: Cleve Jones

NATIONAL

Budget worries

首相发起商业魅力攻势

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担忧税收上涨的高管受邀参加“快速约会”式招待会

ASHLEY ARMSTRONG, LAITH AL-KHALAF 以及 JIM PICKARD

安迪·伯纳姆（Andy Burnham）本周将加强与企业的接触，在唐宁街举办一场“快速约会”式的招待会。受邀参加的人员包括担忧预算案中税收上涨且渴望进一步了解其经济计划的企业高管。

据知情人士告诉《金融时报》，预计首相今天将在那里分别与科技创业者、风险投资家、富时（FTSE）大型公司负责人以及商业游说团体举行三次会议。

两名计划出席的人员告诉《金融时报》，他们担心这种招待会的形式意味着无法就具体问题进行有意义的交流。

另一名接受邀请的人士表示：“所有迹象表明，他们希望在形象和言论上表现出支持企业。”

此次招待会的安排部分是为了弥补伯纳姆上个月因父亲去世而缺席的一场活动。在此之前，财政大臣约翰·希利（John Healey）将在隔壁的11号府举办一场早餐圆桌会议，邀请零售业和酒店业领袖参加。

《金融时报》看到的一份邀请函显示，财政部活动的参与者将能够讨论“企业面临的机遇与挑战，以及为了释放投资、提高生产力并支持英国可持续增长所需采取的措施”。

与零售和酒店业负责人的会议被定为“商业早餐系列”活动的一部分，另外两场预算案前的简报会已计划与汽车行业人士以及关于人工智能（AI）主题的人士举行。

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“所有迹象表明，他们希望在形象和言论上表现出支持企业”

在唐宁街计划举办的这些活动，是在企业领袖抱怨伯纳姆和希利在利物浦举行的工党年度会议上，对于10月28日的预算案几乎没有提供任何安抚之后开展的。

两人在正式演讲和私人活动中提到了“商业成本”，希利承诺政府将“尽我们的一份力来消除障碍，并在可能的情况下减少监管”。

但许多参加利物浦会议的首席执行官表示，他们对潜在的税收上涨仍一无所知，并希望获得关于伯纳姆“增长理论”及其自称“亲商”描述的更多细节。

上周，希利会见了包括巴克莱银行（Barclays）、劳埃德银行（Lloyds）、国民西敏寺银行（NatWest）、Nationwide和桑坦德银行（Santander）在内的国内银行代表。此前有猜测称，他可能会对该行业征收更高税收，以填补因借贷成本上升和国防等新支出压力而造成的财政缺口。

财政大臣在会议上提醒与会者注意“具有挑战性的财政局面”，但并未明确指导银行税收是否会在预算案中上涨。

银行方面表示担心，更高的税收将损害对小企业的贷款，提高资本成本，并对增长产生负面影响。会议上的一位高管表示，对国内银行征收更高税收将是“适得其反”的，而汇丰银行（HSBC）则警告称，如果英国被认为竞争力下降，可能会引发更多激进投资者的出现。

曾任政府部长且担任伯纳姆非正式顾问的吉姆·奥尼尔勋爵（Lord Jim O'Neill）上周告诉《金融时报》，希利应避免通过预算案的税收上涨损害企业，而应接受一项“紧急”的财政缓冲削减，以应对伊朗战争带来的后果。

访谈：托马斯·沃尔德拜（Thomas Woldbye）

希思罗机场跑道支持者“不能永远等待”

机场负责人警告，投资者需要首相尽快支持扩建，否则将退出

彼得·坎贝尔 (PETER CAMPBELL)

交通记者

希思罗机场负责人警告称，如果安迪·伯纳姆 (Andy Burnham) 在今年年底前不对这项耗资 £330 亿的项目给予明确支持，希思罗机场的投资者将重新评估建设第三条跑道的计划。

托马斯·沃尔德拜 (Thomas Woldbye) 告诉《金融时报》，这座枢纽机场的支持者“不能永远等待”首相的承诺。与基尔·斯塔默 (Sir Keir Starmer) 政府不同，伯纳姆至今拒绝支持新跑道的建设。

希思罗机场的所有者——包括 Ardian、卡塔尔投资局、沙特阿拉伯公共投资基金 (PIF) 和新加坡政府投资公司 (GIC) ——必须在新年决定是否提交第三条跑道的正式规划申请。

“我们的股东希望这样做，”沃尔德拜表示，“他们确实认为事情拖了太长时间，而且到目前为止，他们决定接受这一点……但当然，我们不能永远等待。”

“在某个时间点，我们需要一定程度的确定性。我认为到年底我们将进行评估并表示：‘让我们评估一下，盘点一下，看看我们现在处于什么位置’。”

财政大臣约翰·希利 (John Healey) 表示，扩建机场将促进增长，但伯纳姆一直回避关于他是否支持该计划的问题。该计划遭到环保活动人士以及伦敦劳工党市长萨迪克·汗勋爵 (Lord Sadiq Khan) 的反对。

《金融时报》此前报道，伯纳姆曾告诉一些劳工党议员，他一直反对这个想法。

在劳工党击败绿党的霍尔本和圣潘克拉斯 (Holborn and St Pancras) 补选前，伯纳姆表示，跑道问题是“伦敦的事”。

如果首相缺乏明确支持，可能会使该项目在通过获得开工许可所需的规划和法律程序时变得更加困难。

希思罗机场强调了该方案带来的经济效益，包括 100,000 个就业岗位以及对

希思罗机场强调了该方案的经济效益，例如 100,000 个就业岗位和对 GDP 的推动 Julia Demaree Nikhinson / AP

GDP 的推动，同时预测 60% 的经济效益将体现在伦敦以外的地区。

沃尔德拜表示，政府内部的支持人士对这些效益有着“清晰”的认识，而政治支持在过去二十年里一直起起伏伏。“我不是政治家；

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📄 Original Section

Heathrow runway backers ‘cannot wait forever’

Investors need PM to support expansion soon or they will pull out, warns airport boss

PETER CAMPBELL

TRANSPORT CORRESPONDENT

Heathrow's investors will reassess plans to build a third runway if Andy Burnham does not give explicit backing to the £33bn project by the end of this year, the airport's boss has warned.

Thomas Woldbye told the FT that the backers of the hub airport “cannot wait forever” for commitment from the prime minister, who has so far declined to support the new runway, in contrast with Sir Keir Starmer’s administration.

Heathrow's owners – which include Ardian, Qatar's investment authority, Saudi Arabia's PIF and Singapore's GIC

— must decide in the new year whether to submit a formal planning application for a third runway.

"Our shareholders would like to do this," Woldbye said. "They do think that things are taking a long time and, so far, they have decided to be OK with that . . . But of course we cannot wait forever.

"At some point in time we need a level of certainty. I think by the end of the year we'll be looking and saying, 'Let's assess this, let's take stock and see where we are'."

John Healey, the chancellor, has said an expanded airport will boost growth but Burnham has avoided questions on whether he supports the plan, which is opposed by environmental campaigners and Labour mayor of London Lord Sadiq Khan.

The FT previously reported that Burnham has told some Labour MPs he has always opposed the idea.

Speaking before the Holborn and St Pancras by-election in which Labour defeated the Green Party, Burnham said the runway was a “matter for London”.

A lack of explicit backing from the premier would be likely to make pushing the project through the planning and legal processes required to get approval to start construction work much harder.

Heathrow has stressed the economic benefits it attaches to the scheme, including 100,000 jobs and a fillip to

Heathrow has stressed the economic benefits of the scheme, such as 100,000 jobs and a GDP fillip Julia Demaree Nikhinson/AP

GDP, while it forecasts that 60 per cent of the economic benefit will be felt outside of London.

Woldbye said supportive figures within the government were “clear” about the benefits, for which political support has ebbed and flowed over the past two decades. “I’m not a politician;

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希思罗机场拟议的跑道扩建

他补充道，[伯纳姆]目前尚未承诺此事可能还有其他原因。但当然，我们会到达一个可能需要审视并表示“我们需要承诺”的节点。这在他的议程中可能不是优先级最高的，但我认为我们可以将其提升，因为这才是它应该在的位置。

在希思罗机场及其投资者启动规划申请之前，需要完成若干流程。

下议院交通委员会的议员们正在审查一项新的政策框架，该框架将允许机场建设一条跑道；与此同时，行业监管机构英国民航局（CAA）正在探讨修改希思罗机场回收投资成本的模型。

希思罗机场也在就该项目进行自身的咨询，该咨询将于12月结束。

前财政大臣瑞秋·里夫斯在2025年重启了建设第 3 条跑道的想法以帮助提振经济，她制定了一份时间表，计划在2029年之前开始施工，并使新跑道在2035年部分

“这在[安迪·伯纳姆]的议程中可能不是优先级最高的，但我认为我们可以将其提升”

托马斯·沃尔德拜（Thomas Woldbye）

投入运营。由于流程延迟，希思罗机场已经将跑道最早的开放日期推迟到了2039年。

沃尔德拜表示，要在2029年截止日期前获得规划许可将具有“挑战性”，但“我们正朝着2029年的目标努力，并且现在可以看到实现2029年目标的路径”。他强调，达成该期限将“需要政府给出明确表态”。

独立机构英国气候变化委员会（CCC）上个月警告称，希思罗机场的扩建与政府的气候目标不兼容，且其产生的 $\mathrm{CO}_{2}$ 排放量将与伯明翰相当。

交通部表示，它支持“全国范围内能够促进增长与机遇，同时满足环境测试的机场扩建”。

该部门补充道：“我们正在迅速审查近期关于扩建基础政策框架咨询所收到的回复，并考虑适当的后续步骤。”

教育

📄 Original Section

Proposed runway expansion at Heathrow

there may be other reasons why [Burnham] is not committed to that right now. But of course there is a point where we would probably look and say, 'We need to commit'. It may not be the highest on his agenda, but I think we can get it up there because that is where it belongs," he added.

Several processes need to be completed before Heathrow and its investors push the button on a planning application.

MPs on the Commons transport committee are scrutinising a new policy framework that would allow the airport to build a runway, while the Civil Aviation Authority, the sector regulator, is exploring changes to Heathrow's model for clawing back investment costs.

Heathrow is also holding its own consultation on the project, which closes in December.

Former chancellor Rachel Reeves, who resurrected the idea of a third runway in 2025 to help boost the economy, set out a timeline for building work to start by 2029, with a new runway partly

'It may not be the highest on [Andy Burnham's] agenda, but I think we can get it up there'

Thomas Woldbye

operational by 2035. Delays to the process mean Heathrow has already pushed the earliest opening date for the runway to 2039.

Woldbye said hitting the 2029 deadline for planning permission would be “challenging” but “we are working to 2029 and can see a path to 2029 now”. Meeting the deadline would “require the government to be clear”, he stressed.

The independent Climate Change Committee warned last month that Heathrow expansion was incompatible with the government's climate targets, and that it would produce as much $\mathrm{CO}_{2}$ as Birmingham.

The Department for Transport said it supported “airport expansion across the country where this can contribute to growth and opportunity, while meeting tests on the environment”.

“We are moving swiftly to review the responses received to the recent consultation on the policy framework underpinning expansion, and considering the appropriate next steps,” it added.

Education

地方议会特殊教育需求支出面临£10bn赤字

克里斯·斯迈思 (CHRIS SMYTH)

公共政策编辑

研究发现，尽管政府今年拨付了数十亿英镑以帮助偿还债务，但到2028, 英格兰各地方议会在特殊教育需求方面的支出仍可能面临£10bn的赤字。

由县议会网络（CCN）对地方当局财务官员进行的一项调查发现，在中央政府接管特殊教育需求资金责任之前，2026-27 和 2027-28, 预计将出现超支。通过对73 per cent的议会结果进行推算，他们估计到March 2028，这两年的超支额将达到104亿英镑。

地方当局的领导人们正敦促政府再次提供救助以覆盖这些成本，并警告称，如果无法提供资金，将引发“财务灾难”，并导致议会税上涨以及服务的大幅削减。

“任何低于偿还这笔新债务90 per cent的方案，对议会来说都将是一场财务灾难，”肯特郡议会的改革英国党（Reform UK）领导人兼CCN特殊教育需求发言人林登·凯姆卡兰（Linden Kemkaran）表示。“这些赤字的积累并非因为议会选择了挥霍无度，而是因为必须满足迅速增长的法定需求——这种情况在今年进一步加剧——而资金增长却未能跟上步伐。”

在不到十年的时间里，拥有“教育、健康和护理计划”（EHCPs）并有权在学校获得额外帮助的儿童人数增加了一倍。

由于对人数增加以及特殊教育需求学生成绩缺乏改善证据感到担忧，部长们在1月制定了计划，旨在将EHCPs带来的法律权利限制在需求最严重的人群中。

然而，由于担心工党后座议员的反叛，这些变更直到 2029-30 学年才会生效，财政部承诺将额外提供35亿英镑，以覆盖 2028-29. 的中央政府成本。与此同时，各议会获得了一笔£5bn的救助金，用于覆盖截至今年3月之前90 per cent的累计超支。

截至今年1月的一年内，拥有EHCPs的儿童人数增长了13 per cent，达到718,838人，为此前六年来增长最快的一次。但CCN表示，在“政府2月份宣布计划改革以来……评估请求出现了尤为剧烈的激增”。它补充道，到 2028-29 EHCPs数量将达到840,000人的预测值现在看来将被突破。

凯姆卡兰表示，如果没有政府资金，“纳税人和当地社区最终将承担后果，因为议会在管理并非由自身过错导致的债务时，在如何保护一线服务方面面临着不可能的选择”。

财政研究所的达西·斯内普（Darcey Snape）表示，预算责任办公室的官方预测意味着预计的超支已包含在财政大臣约翰·希利（John Healey）的预算计算中。但她警告称：“这些赤字最终可能会高于预测值的风险确实存在。”

住房、社区和地方政府部未回应置评请求。

📄 Original Section

Councils face £10bn deficit on outlay for special needs

CHRIS SMYTH

PUBLIC POLICY EDITOR

English councils face a potential £10bn deficit on spending for special educational needs by 2028, research has found, despite the government diverting billions of pounds this year to help clear their debts.

A survey of local authority finance officers by the County Councils Network (CCN) has found overspends forecast in 2026-27 and 2027-28, before central government assumes responsibility for special educational needs funding. Extrapolating results from 73 per cent of councils, they estimate overspends in these two years will be £10.4bn by March 2028.

Local authority leaders are pushing for another bailout from government to cover the costs, warning that a failure to provide funding would trigger “financial catastrophe” and require council tax rises and deep cuts to services.

“Anything less than paying down 90 per cent of this new debt would be a financial catastrophe for councils,” said Linden Kemkaran, Reform UK leader of Kent County Council and Send spokesperson for the CCN. “These deficits have not accumulated because councils have chosen to spend recklessly: they are the result of having to meet rapidly growing statutory demand, which has only intensified this year, without funding keeping pace.”

The number of children with “education, health and care plans” (EHCPs) entitling them to extra help in schools has doubled in less than a decade.

Alarmed by the rise and lack of evidence of an improvement in results for pupils with special educational needs, ministers set out plans in January to restrict the legal rights that come with EHCPs to those with the most severe needs.

Amid concern over a Labour backbench rebellion, however, these changes will not take effect until the 2029-30 school year, with the Treasury promising an extra £3.5bn to cover central government costs in 2028-29. Councils, meanwhile, were given a £5bn bailout to cover 90 per cent of accumulated overspends until March this year.

The number of children with EHCPs increased 13 per cent to 718,838 in the year to January, the fastest increase in the previous six years. But the CCN said there had subsequently been “a particularly sharp surge in assessment requests . . . since the government announced its planned reforms in February”. Estimates of 840,000 EHCPs by 2028-29 were now set to be exceeded, it added.

Kemkaran said without government money “taxpayers and local communities will ultimately bear the consequences as councils face impossible choices about how to protect frontline services while managing debts that have accrued through no fault of their own”.

Darcey Snape, of the Institute for Fiscal Studies, said official forecasts from the Office for Budget Responsibility meant projected overspends were included in chancellor John Healey's Budget calculations. But she warned: "There is a real risk that these deficits could turn out to be higher than forecast."

The Ministry of Housing, Communities and Local Government did not respond to a request for comment.

进行明智的投资

立即订阅 ft.com / subscribetoday

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“这对[行业参与者]来说简直是一个巨大的耳光，而消费者则不得不面对高昂的账单”

比化石燃料锅炉更高效，并且可以在电价较低的时段运行，但前期安装成本较高。

绿色和平组织（Greenpeace）气候负责人梅尔·埃文斯（Mel Evans）表示，热泵有助于减少排放、燃料进口和能源账单。她说：“当造成我们经济痛苦的石油巨头账户中积累着数十亿的意外之财时，政府为什么要削减惠及普通家庭的资金，而不是公平地向污染者征税？”

慈善机构 Nesta 警告称，在近几个月天然气价格飙升导致热泵安装量增长之际，削减锅炉升级计划的预算将向企业发出一个“破坏性信号”。该机构表示，近年来安装量增长缓慢，但在 7 月和 8 月申请量大幅增加，部分原因是伊朗战争导致化石燃料价格剧增，以及电费税费和增值税的削减。

Octopus Energy 首席执行官格雷格·杰克逊（Greg Jackson）表示，削减锅炉升级计划将是“极其短视的”，并补充道：“在上次能源危机中，英国对天然气的依赖让财政部损失了 £80。而[锅炉升级计划]的预算仅占其中的 0.5%，且是摆脱天然气依赖的关键。”

能源与气候情报局（Energy and Climate Intelligence Unit）能源分析师杰斯·拉尔斯顿（Jess Ralston）表示，部署热泵对于能源安全和国家安全都至关重要。“挪用长期政策资金会引入突然且严重的不确定性，这可能意味着在热泵产业需要稳定性以扩大规模的关键时刻，将其发展拖后。这与部长们一直谈论的摆脱化石燃料‘过山车’背道而驰。”

学费争议考验伯纳姆重启欧盟关系的决心

📄 Original Section

Plan to cut heat pump subsidy scheme provokes industry fury

JIM PICKARD AND KENZA BRYAN

Plans to cut hundreds of millions of pounds from the government's “boiler upgrade scheme”, which provides grants of up to £9,000 to help households switch to heat pumps, have sparked an industry backlash.

The energy department is drawing up spending cuts as it is forced to find £2bn of savings in the next few weeks as part of a Downing Street drive to source extra money for defence.

Potential cuts include not only heat pumps but home insulation grants, support for the nascent hydrogen industry and “carbon capture” schemes.

Sir Keir Starmer, the former prime minister, in June ordered all departments to make a 1 per cent cut to capital spending to pay for the Defence Investment Plan. But he singled out the Department of Energy Security and Net Zero to find an additional £2bn of cuts.

The department was considered ripe for cuts as it was one of the winners of last year's spending review, receiving an annual 16 per cent increase in its capital settlement to fund projects such as Sizewell C, carbon capture and insulation.

Starmer also told the transport department – another capital-rich ministry – to find cuts.

Miatta Fahnbulleh, energy secretary, is under pressure to make savings of £100mn in the current year, £600mn in 2027-28, £700mn in 2028-29 and £600mn in 2029-30.

She is looking at a raid on the £15bn Warm Homes Plan, a programme to upgrade 5mn homes with insulation, solar panels and low-carbon heating.

That would include cuts to the £2.7bn “boiler upgrade scheme” – part of the WHP – which includes subsidies for electric heat pumps.

Ministers are considering cuts to programmes including the “hydrogen transport pot” and delays to so-called “Track 2” carbon capture schemes which have not yet had the go-ahead, according to people familiar with the talks. DESNZ declined to comment.

Industry figures criticised Fahn-bulleh's proposals to cut heat pump subsidies, which were first reported in Politico and the Guardian.

“Industry players have invested in recruitment, they’ve invested in supply chains, and this is just a big slap in the face to them and to consumers having to deal with high bills," said Camilla Born, chief executive of Electrify Britain, a campaign group.

Heat pumps are critical to cutting energy bills and progressing towards national climate targets, but are not being installed at a fast enough pace, the independent Climate Change Committee has warned. The pumps are more

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巴黎及其他国家希望在 11 月峰会前解决收费问题

乔治·帕克（GEORGE PARKER）、彼得·福斯特（PETER FOSTER）和戴维·谢泼德（DAVID SHEPPARD）——伦敦；安迪·邦兹（ANDY BOUNDS）——布鲁塞尔

希望在下次选举前尝试建立一个“共识”。

安迪·伯纳姆（Andy Burnham）在努力重启与欧盟的关系时面临挑战，此前以法国为首的多个成员国坚持要求英国停止对欧盟学生收取更高的大学学费。

尽管双方仍存在分歧，但双方昨日确认，一场延迟已久的峰会将于 11 月 20日举行。巴黎及其他几个国家的政府希望在届时解决大学收费问题，而英国则主张该问题应在峰会之后处理。

伯纳姆告诉国会议员，他希望此次峰会能通过就消除食品贸易壁垒、将欧盟与英国的排放交易体系挂钩以及在应对非法移民方面加强合作达成协议，从而促进增长。

首相表示，他还希望一项针对 18 到 30 岁人群的“青年体验计划”能获得批准，尽管

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欧盟学生在英国留学的学费每年高达 3.8 万英镑。英国学生则支付约 1 万英镑

包括法国在内的一些国家表示，这必须与欧盟学生在英国大学应支付“本地学费”的协议挂钩。

欧盟外交官表示，领导此次谈判的欧盟委员会上周建议，同意英国的一项提议，即在峰会之后再考虑是否降低欧盟学生的学费。

但在周五的一次激烈会议上，几个欧盟国家表示，在学费问题解决之前，委员会必须暂缓就协议其他部分的达成一致。欧盟学生在英国留学的“国际学费”每年高达 3.8 万英镑。英国学生则支付约 1 万英镑。

一名欧盟外交官表示：“当委员会建议[推迟达成协议]时，成员国在三小时内对他们进行了猛烈抨击。如果没有学费问题的解决，这似乎难以行通。”

这场争端提醒人们，伯纳姆（Burnham）重新点燃的脱欧后辩论在政治上具有极高的敏感性，但首相坚持认为，此次峰会将标志着英国与欧盟走近的举措之开始。

他告诉国会议员：“维持现状对英国来说是不够的，”并表示他希望就与欧盟的长期关系与公众展开“严肃对话”。

伯纳姆并未排除申请重新加入欧盟的可能性，以及包括加入关税同盟或单一市场在内的其他选项。他

保守党党魁凯米·巴德诺克（Kemi Badenoch）拒绝了这一倡议，她表示：“他不会获得更好的协议。”

在围绕欧盟议题情绪激动的另一个迹象中，由于首相对 2016 年脱欧公投中涉嫌俄罗斯干预的问题表示担忧，伯纳姆被改革英国党（Reform UK）党魁奈杰尔·法拉奇（Nigel Farage）指责为“骗子”。

伯纳姆在接受《The Rest is Politics》播客采访时说：“我向唐宁街提出了一个问题：‘2016 年的公投是否受到了俄罗斯的干预？’而我得到了明确的回答，是的，确实有。”

唐宁街昨日并未提供俄罗斯干预的新证据，并承认：“我们认为干预并未成功。”伯纳姆随后告诉国会议员，他并非在质疑 52-48 的脱欧投票结果的合法性。

2016 年脱欧阵营的领军人物法拉奇表示：“鲍里斯·约翰逊在就任外交大臣时，他问的首批问题之一就是：‘公投活动中是否被认为存在俄罗斯的干预？’而答案是否定的。”

伯纳姆告诉国会议员，拒绝考虑与欧盟建立更紧密的关系将是“严重的失职”，并补充道：“我们需要以冷静、清醒且理性的眼光看待当今的世界，以考虑什么对我们的国家最有利。”

他主张英国必须向布鲁塞尔靠拢的决定，正值工业界发出警告，称欧盟新兴的“欧洲制造”议程对英国制造业构成了巨大威胁。

伯纳姆表示，他将在峰会上就该倡议“提出我们的担忧”，这实际上确认了任何包含英国在内的与欧盟的最终协议都必须推迟到欧盟就采购和补贴规则达成立法之后。

他表示，欧盟和英国正在寻求解决同一个问题——中国竞争给各自制造业基地带来的风险——并且双方应该“共同”应对这一问题。在上个月的工党年度会议上，伯纳姆表示，他希望在下次选举前就与欧盟的未来关系达成“共识”，其政党宣言将反映这一结论。

伯纳姆的表态之际，英国和欧盟的谈判代表正进入为期一周的谈判，旨在通过重启对话来改善贸易。

将主持 11 月峰会的欧洲理事会主席安东尼奥·科斯塔（António Costa）表示，欧盟和英国的“安全与繁荣紧密相连，这使得我们之间建立强大的伙伴关系至关重要”。

吉迪恩·拉赫曼（Gideon Rachman） Page 25

皇家空军费尔菲尔德（RAF Fairfield）

伊朗在空军基地事件后遭到新制裁

大卫·谢泼德（DAVID SHEPPARD）

在安迪·伯纳姆（Andy Burnham）表示德黑兰“极有可能”协调了在费尔福德皇家空军基地（RAF Fairfield）发生的一起事件，导致美国将轰炸机从该基地撤离后，英国对伊朗实施了新制裁并召见了其大使。

首相昨日告诉国会议员，上月底在格洛斯特郡该基地发生的事件“几乎可以肯定是由伊朗伊斯兰革命卫队指使的”，并表示：“我们不会容忍在我们的领土上出现这些威胁。”

他补充道：“我们将利用全部权力，打击伊朗利用犯罪网络进行活动及其资金流，并将采取进一步制裁，以限制伊朗和伊斯兰革命卫队（IRGC）对我们造成伤害的能力。”

这些言论是伯纳姆迄今为止关于伊朗可能参与费尔福德事件最强硬的表态，该事件已导致反恐警察逮捕了七人。

外交大臣埃德·米利班德（Ed Miliband）在一份声明中表示，政府已召见伊朗驻伦敦大使，以“重申”任何“企图破坏英国及国际伙伴安全的行为都是不可接受的”。

中东事务大臣斯蒂芬·多蒂（Stephen Doughty）告诉伊朗大使赛义德·阿里·穆萨维（Seyed Ali Mousavi），英国不会容忍恐吓行为。

外交部表示，已对伊朗革命卫队反间谍行动负责人鲁霍拉·巴兹甘迪（Ruhollah Bazghandi）实施制裁，包括冻结资产和旅行禁令。

针对伊朗异见人士的“Zindashti”犯罪网络的“协调员”沙赫拉姆·阿里·雷扎·塔马扎德·贾基（Shahram Ali Reza Tamarzadeh Jakki）也被列入制裁名单。米利班德表示，两人均有“威胁、策划或在海外实施袭击的明确意图”。

为了展示决心，美国、英国以及其他27个国家在伯纳姆发表言论后不久，发布了一份联合声明，以“最强烈的措辞谴责伊朗利用暴力袭击，包括针对我们及其伙伴的致命阴谋、纵火、破坏、网络攻击和其他混合活动”。

在本月初费尔福德皇家空军基地事件发生后，美国撤走了12架B-1轰炸机。唐纳德·特朗普总统声称，该基地受到了“某些威胁”，导致美国撤走了此前参与打击伊朗的轰炸机。

已有七名英国公民因与该事件有关而被捕。所有人员均已保释释放。

国家新闻

顺利就职：阿布迪-瓦利加入威斯敏斯特的工党阵营

昨日，工党新任议员在威斯敏斯特大厅与首相安迪·伯纳姆及其他同事合影。萨加尔·阿布迪-瓦利（Sagal Abdi-Wali）在赢得上周的霍本和圣潘克拉斯（Holborn and St Pancras）补选后加入该党议席，在该席位中以3,364票的优势获胜，该席位原由前首相基尔·斯塔默爵士（Sir Keir Starmer）持有——Dan Kilwood / Getty Images

Meliore基金会

📄 Original Section

EU students pay fees of up to £38,000 a year to study in the UK. British students pay around £10,000

some countries, including France, say this must be linked to the agreement that EU students should pay “home fees” at UK universities.

EU diplomats said the European Commission, which is leading the talks, had last week suggested agreeing to a UK offer to consider whether to cut fees for the bloc's students after the summit.

But several EU countries said at a fiery meeting on Friday that the Commission must withhold agreement on other sections of the deal until the issue of tuition fees was resolved. EU students pay “international fees” of up to £38,000 a year to study in the UK. British students pay around £10,000.

“Member states gave the Commission three hours of hell when they suggested [postponing a deal]. Without tuition fees, it seems unlikely this will fly,” said an EU diplomat.

The dispute is a reminder of the politically fraught nature of the post-Brexit debate that Burnham has rekindled, but the prime minister insisted the summit would mark the start of moves to bring the UK and EU closer together.

“Staying with the status quo is not good enough for Britain,” he told MPs, saying he wanted to start a “serious dialogue” with the public about the long-term relationship with the EU.

Burnham has left open the possibility of applying to rejoin the bloc, along with other options including joining a customs union or the single market. He

Kemi Badenoch, Conservative leader, rejected the initiative: "He's not going to get a better deal," she said.

In another sign of the passions around EU issues, Burnham was accused by Reform UK leader Nigel Farage of being a “liar” after the PM raised concerns about alleged Russian interference in the 2016 Brexit referendum.

“I asked the question coming to Downing Street: ‘Was there interference in the 2016 referendum from Russia?’” Burnham said in an interview with The Rest is Politics podcast. “And I’ve had the clear answer that yes, there was.”

Downing Street yesterday did not provide new evidence of Russian interference and conceded: “We do not believe it succeeded.” Burnham later told MPs he was not questioning the legitimacy of the 52-48 Leave vote.

Farage, a leading figure in the 2016 Leave campaign, said: “Boris Johnson, when he became foreign secretary, one of the first questions he asked was: ‘Was there seen to be Russian interference in the referendum campaign?’ And the answer was no.”

Burnham told MPs that refusing to countenance closer relations with the EU would be “a major dereliction of duty”, adding: “We need to take a calm, clear-eyed, rational look at the world as it is today to consider what is best for our country.”

His decision to argue that the UK must move closer to Brussels comes amid industry warnings that the bloc's emerging “Made in Europe” agenda poses a big threat to UK manufacturing.

Burnham said he would “raise our concerns” at the summit about the initiative, in effect confirming that any final deal with the EU to include the UK would have to wait until later, when the bloc has agreed legislation on procurement and subsidy rules.

He said that the EU and Britain were seeking to address the same issue — the risk posed to their manufacturing bases by Chinese competition — and that they should tackle the issue “together”. At Labour’s annual conference last month, Burnham said he wanted to find a “consensus” about future ties with the EU before the next election, and his party’s manifesto would reflect that verdict.

Burnham's statement comes as UK and EU negotiators enter a week of talks on the reset designed to improve trade.

António Costa, President of the European Council, who will host the November summit, said EU and UK “security and prosperity are closely intertwined, making a strong partnership between us essential”.

Gideon Rachman Page 25

[EMPTY]

RAF Fairfield

食品价格再次飙升：是时候解决我们的化肥问题了

今天，在世界化肥日，我们向那些找到将氮从空气转移到土壤中、从而提高全球粮食产量的创新者致敬。但这也是一个反思当今粮食系统中日益增多的挑战——并再次发挥远见的机会。

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📄 Original Section

Iran hit with new sanctions following air base incident

DAVID SHEPPARD

The UK has imposed new sanctions on Iran and summoned its ambassador after Andy Burnham said it was “highly likely” that Tehran co-ordinated an incident at RAF Fairfield that led to the US removing bombers from the base.

The prime minister told MPs yesterday that the events at the Gloucestershire base late last month were “almost certainly directed by Iran’s Islamic Revolutionary Guards”, and said: “We will not tolerate these threats on our soil.”

He added: “We will crack down on Iran’s use of criminal networks using our full range of powers to target them and their funding streams, and we will bring further sanctions to restrict the capacity of Iran and the IRGC to do us harm.”

The comments are Burnham's strongest remarks yet about the likelihood of Iran's involvement in the events at Fairford, which have led to seven arrests by counterterror police.

Foreign secretary Ed Miliband said in a statement the government had summoned Iran's ambassador to London to "reiterate" that "attempts to undermine the security of the UK and international partners [were] unacceptable".

Stephen Doughty, Middle East minister, told the Iranian ambassador, Seyed Ali Mousavi, that the UK would not tolerate intimidation.

The Foreign Office said it had placed sanctions on Ruhollah Bazghandi, head of counter-espionage operations at Iran's Revolutionary Guard Corps, including asset freezes and travel bans.

Shahram Ali Reza Tamarzadeh Jakki, a “facilitator” for the Zindashti criminal network – which has targeted Iranian dissidents – was also put under sanction. Miliband said both had “the clear intent of threatening, planning or conducting attacks overseas”.

In a show of resolve the US, UK and 27 other countries released a joint statement shortly after Burnham's remarks condemning “in the strongest terms Iran's use of violent attacks, including the acts of lethal plotting, arson, sabotage, cyber attacks and other hybrid activities against us and our partners”.

The US withdrew 12 B-1 bombers at the start of this month following the incident at RAF Fairfield. President Donald Trump claimed “some threats” were made to the base, leading the US to remove the bombers that had been involved in strikes against Iran.

Seven British citizens have been arrested in connection with the incident. All have been released on bail.

NATIONAL

化肥供应链已至崩溃边缘

作为一名农民，近期的事件让我重新评估了在农学学校学到的许多知识。此前，合成化肥对粮食安全至关重要，而如今它们已成为生产链中最薄弱的环节。

首先，它们极易受到供应冲击的影响。氮肥依赖于大量的化石天然气供应，且仅五个国家就占据了全球生产和出口的近一半。全球三分之一的化肥供应经过霍尔木兹海峡。

该地区的冲突导致今年春季氮肥价格上涨 80%，使全球供应紧张，并让各国面临巨额的进口账单。印度不得不额外支付 4.6亿美元，以确保其农民获得足够的化肥。在这些不确定因素的影响下，食品价格目前正在剧烈上涨——而距离入侵乌克兰引发的毁灭性食品价格飙升仅过去四年。

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化肥转型可降低农业风险

结构性的高价格将长期存在。合成化肥同时也是气候和自然的负资产，占全球温室气体排放量的 $2%，并导致土壤和生态系统枯竭，使其在气候变化的影响面前变得更加脆弱。

因此，减少对合成化肥的依赖已成为一项紧迫的必要任务——旨在降低农业风险，并保障未来的粮食生产。

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转型技术可行且可规模化

这种转型已经在规模化进行，农民们正在迅速采用生物基化肥和新的耕作方式。在巴西，$85% 的大豆生产已用微生物替代合成化肥，每年为该国节省数十亿美元的进口成本。

在印度安得拉邦，近 180 万农民采用了“自然耕作”。通过用本地生产的生物刺激剂和固氮作物替代合成化肥，农场大幅降低了生产成本并构建了更具韧性的土壤——在 2023 年飓风袭击时，这些农场的作物受损程度远低于传统农场。

在欧洲，利用有机废弃物生产的营养丰富“消化液”已足以替代 16% 的氮肥和 30% 的磷酸盐化肥。

新的创新层出不穷。澳大利亚的农业企业家正将回收玻璃研磨成硅粉，以释放土壤中的养分。一家埃及初创公司则将虾壳转化为低成本化肥。

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生物肥料市场实现两位数增长

市场分析师强调了该领域的巨大潜力。预计全球有机肥料市场在未来十年将翻一番，而欧洲生物肥料市场将增长至三倍，年增长率为 $13%。

各国政府、全球机构和投资者正意识到这些机遇。但随着食品价格再次飙升，已没有时间可以浪费。三项常识性行动可以加速这一转型：

① 支持农民使其生产系统多样化并具备气候适应能力。将目前 5400亿美元全球农业补贴中的哪怕一小部分转移到转型基金中，都将为粮食安全和气候韧性带来巨大收益。

② 构建本地化肥生产和分销的基础设施。这意味着投资堆肥设施和废物流管理，并重新调整农场咨询服务和研究计划。

③ 支持生物肥料产业的增长，帮助创新者克服瓶颈，并确保农民能够获得所需的解决方案。

通过这些步骤，并辅以过程中不断提高的化肥利用效率，我们可以再次拥有远见——在食品、耕作和肥料技术领域开辟新前沿。

INTERNATIONAL

Bloc policy

巴黎与柏林就欧盟汽车问题接近达成协议

协议旨在推迟欧洲大陆淘汰内燃机的进程

伊恩·约翰斯顿（IAN JOHNSTON）——卢森堡

莎拉·怀特（SARAH WHITE）与稻垣佳奈（KANA INAGAKI）——巴黎

法国和德国即将宣布一项重大协议，该协议将推迟欧洲淘汰内燃机的进程并提高欧洲大陆的汽车产量。欧盟领先的经济体旨在增强其陷入困境的汽车工业，以应对来自中国的竞争。

法国总统埃马纽埃尔·马克龙表示，关于欧盟汽车政策的协议“迫在眉睫”，并补充道：“我们正与德国伙伴敲定一项协议，以便欧洲能够向前推进，从而更好地保护我们的工业，并维持我们的脱碳目标，提高我们的竞争力并加强我们的主权。”

巴黎和柏林自今年夏天以来一直进行谈判，旨在就淘汰内燃机的法律以及新的“欧洲制造”规则达成妥协。后者将把公共合同和补贴预留给在欧盟内部制造的汽车、零部件和电池。马克龙表示：“在协议最终敲定之前，我不会透露协议条款，但我只是告诉你们，这只是几个小时，如果不是几个小时，那就是几天的问题。”

布鲁塞尔正在谈判多项欧盟法律，旨在保护欧洲汽车制造商免受来自中国的激烈竞争，同时也给本土制造商更多余地，以便在更长时间内继续销售内燃机汽车。一名官员表示，需要就整套规则达成协议，才能推进这些文件中被搁置的谈判。

这项预期的协议仍需获得其他欧盟成员国和欧洲议会的批准，它将进一步削弱欧洲的气候雄心，并激怒英国和日本等贸易伙伴，因为这些国家可能会被排除在“欧洲制造”计划之外。

德国一直寻求放宽汽车制造商 2030 年的排放目标，尽管一名熟悉讨论的人士警告称，这一要素尚未达成一致。马克龙表示，该协议将使欧洲在脱碳目标上采取一种“务实的方法”。

据两人透露，德国预计还将确保欧盟 2035 年内燃机禁令得到进一步放宽，允许内燃机汽车占新车销售额的 10%，且不要求其使用低碳燃料或材料。

相应地，法国预计将在公共补贴和合同方面获得德国的支持，使电动汽车和电池等技术的补贴和合同主要限制在总部位于欧盟的制造商手中。

此类协议可能会导致英国制造的汽车无法获得公共补贴，不过其中一人表示，这一要素尚未最终敲定。

雷诺首席执行官弗朗索瓦·普罗沃斯特（François Provost）表示，协议可能会在本周达成。此前，欧洲汽车制造商在周日晚上与马克龙会面，随后将参加本周的巴黎车展，中国和欧洲品牌将在展会上展示其最新车型。

“现在是做出反应的时候了，”普罗沃斯特说道，他指出仅在法国就有 100 万个工作岗位依赖于汽车部门。汽车制造商并非简单地“哭诉和抱怨”，而是已经投入巨资地对其运营进行改革，以专注于欧盟要求的电动汽车。

像法日合资的雷诺以及美国的福特等制造商，在土耳其等非欧盟国家组装具有高比例欧洲零部件的车辆。他们主张，“欧洲制造”规则的细节应允许对某些第三国设置例外。

竞争。配额协议

布鲁塞尔避免与北京爆发汽车贸易战

默契协议提供四年期

“保障措施”，将使

中国混合动力车出口减半

安迪·邦兹（ANDY BOUNDS）——布鲁塞尔

乔·利希（JOE LEAHY）——北京

在布鲁塞尔获得北京关于对欧盟进口中国混合动力汽车实施配额的默契同意后，一场全面的贸易冲突得以避免，这是双方达成的一项“谅解”的一部分。

根据周五敲定的协议，成员国将被要求批准一项为期四年的贸易“保障措施”——该措施无需市场滥用证据即可实施，并将使中国明年的年度出口量减少一半以上。

两名欧盟官员表示，根据该措施，中国将接受 2027 年 350,000 辆的约定配额（低于今年预计的 800,000 辆），且不会因此对欧盟进口产品采取报复措施。官员们补充说，在接下来的三年中，该配额每年将增加 6%。

欧盟贸易专员马罗什·谢夫乔维奇（Maroš Šefčovič）在北京为期两天的关键谈判中达成了这项“谅解”。

《金融时报》在上周谈判前曾报道，在中国拒绝了自愿限制混合动力汽车出口的提议后，谢夫乔维奇正寻求一项基于保障措施的协议。

谢夫乔维奇周五表示，该协议将使未来四年的预计出口量减少一半以上，使中国出口的混合动力车数量减少“数百万”辆。

欧盟 2025 年对华商品贸易逆差达到 3600亿欧元，且此后有所增加。2026 年第二季度，贸易逆差为 1030亿欧元，高于去年同期的 930亿欧元。汽车和机械是最大的贡献项。

然而，保障措施必须普遍适用。另一名欧盟官员表示，所有国家都将根据 2026 年的进口量获得配额，随后从 2028 年起每年增加 6%。

谢夫乔维奇表示，周五的协议将成为谈判“下一阶段的蓝图”，并证明了与中国的谈判可以产生结果。他将于 3 月会见中—

中国向欧盟出口的混合动力汽车数量激增单位：('000)

在江苏太仓港，准备发往欧洲的吉利电动汽车 —— 彭博社

国商务部长王文涛，希望在减少贸易逆差方面取得进一步进展。

然而，第二位官员表示，仅靠对话不太可能解决与中国之间不可持续的贸易失衡这一结构性问题。

该官员表示：“去工业化，即某些人所称的‘中国冲击’的结果——这正严重打击欧洲的工业心脏地带。”

几个成员国一直呼吁对更多中国产品征收关税。在谢夫乔维奇访问北京之前，法国和德国提交了一份联合文件，敦促建立一种新的“最后手段”防御工具，该工具将完全切断部分中国贸易的市场准入，以威慑报复行为。

他们声称中国对相关产业进行了补贴，并为了弥补国内需求疲软而过度出口——北京方面对此指控予以坚决否认。

中国商务部昨日表示，该协议确保了“中国企业的出口空间和稳定增长”，同时“解决了”其产业及欧盟产业的“现实关切”。

商务部表示，该协议也没有歧视中国产品或公司。“中国的配额不会低于欧盟任何其他进口来源的配额，”该部门称。

它补充道：“中国保留在世贸组织（WTO）框架内采取争端解决措施并要求贸易补偿的所有权利。”

欧洲汽车制造商协会（Acea）对该协议表示欢迎。Acea总干事西格丽德·德弗里斯（Sigrid de Vries）表示，这有助于“促进中国在欧洲市场的存在有序地过渡到新时代，这符合所有各方的长期利益”。

该游说团体表示：“中国插电式混合动力电动汽车和混合动力电动汽车进口量的突然且快速增长，正对欧洲汽车市场产生不稳定的影响。”

今年上半年，中国进口插电式混合动力电动汽车在欧盟市场的份额上升至25%，其他混合动力电动汽车的份额上升至14%，两者均高于2024年的2%。

中国官方媒体对该协议表示赞赏，共产党旗下的《环球时报》在社论中将其称赞为在“全球经济复苏乏力及反全球化暗流涌动”的背景下，为“妥善处理双边分歧而采取的务实步骤”。

新华社表示，在北京举行的会谈表明欧盟和中国拥有管理分歧并防止升级的“智慧”。

然而，今年对中国提起贸易投诉数量创纪录的欧洲化学工业表示，该协议“应该是为面临最大压力的行业提供更广泛且持久缓解的第一步”。

行业游说团体Cefic表示：“欧洲面临的中国挑战远未解决。化学部门需要紧急的喘息空间。在10年内，仅我们与中国的化学贸易余额就从微小盈余转变为2025年的超过€15赤字。”

许多分析人士表示，当欧盟领导人本周在布鲁塞尔举行峰会时，如果仅基于一项行业协议就减轻对中国的压力，将是不明智的。

卡内基国际和平基金会高级研究员迈克尔·佩蒂斯（Michael Pettis）在X上写道，欧盟在处理中国进口问题上的困难是“系统性的而非行业性的”。该协议并未解决中国因国内经济疲软而导致的需求失衡，这种失衡正促使其工厂寻求出口市场。

智库欧洲政策中心（European Policy Centre）敦促欧盟领导人不要放松警惕。该中心的格奥尔格·里克莱斯（Georg Riekeles）和伊恩·赫尔南德斯（Ian Hernandez）表示：“除非欧洲理事会利用这次喘息之机制定重新平衡和采取纠正措施的时间表，否则这将是北京的一次战术性胜利。”

他们写道：“到目前为止宣布的任何措施都没有改变根本性的失衡。北京只是适度降低了温度，以将欧洲留在锅里。但青蛙仍在被煮沸。”

总统竞选

波兰敦促北约准备应对俄罗斯致命的混合攻击

本·霍尔 (BEN HALL) 与玛德琳·斯皮德 (MADELEINE SPEED)

伦敦

波兰外交部长表示，北约成员国应为可能发生的致命俄罗斯混合攻击准备强有力的应对措施，因为人们对莫斯科在欧洲领土上升级的破坏行动日益担忧。

拉多斯瓦夫·西科尔斯基 (Radosław Sikorski) 告诉《金融时报》，随着俄罗斯增加旨在扰乱和破坏欧洲社会稳定的行动，出现人员死亡的可能性正在增加。但他承认，联盟必须就如何应对做出“判断”。

“问题在于什么构成一次攻击，一次跨境攻击。只要涉及的是财产……那是另一回事；但如果开始出现人员死亡，那么我们必须在北约内部进行另一次非常严肃的讨论。”

“我们何时会判定俄罗斯人做得太过分了？因为这是一个判断问题。你知道，目前还没有达成一致的预先定义。”

西科尔斯基拒绝详细阐述北约应如何针对人员死亡事件进行报复，但他指出，在俄罗斯无人机和战斗机侵犯领空后，波兰和爱沙尼亚援引了联盟的 Article 4 ——即请求进行高级别磋商，这意味着北约需要采取更多行动。

Nato's Article 5, the mutual defence clause, 在成员国遭受武装攻击时可被援引。该条款仅被触发过一次，由美国在 September 11 2001 基地组织发动的恐怖袭击后启动。

波兰及其邻国对针对欧洲目标的网络攻击、领空侵犯和破坏企图的增加感到震惊，他们认为这是俄罗斯旨在削弱对乌克兰支持的一场行动的一部分。

7 月，一枚俄罗斯 Kh-101 巡航导弹坠入波兰东部的一片田野并爆炸。

来自五个欧洲情报机构的官员告诉《金融时报》，欧洲国防公司的资深高管正成为俄罗斯特工暗杀的目标。

德国情报部门最近警告称，俄罗斯的“影子战争”正进入一个新的、潜在致命的阶段。柏林上个月指责莫斯科策划了 8 月对莱比锡 / 哈勒机场的无人机袭击。该爆炸装置似乎旨在袭击一架乌克兰货机，但未能爆炸。

西科尔斯基呼吁欧洲盟友通过关闭俄罗斯领事馆、限制莫斯科外交官在派遣国境内自由旅行以及全面削减俄罗斯外交官人数（正如波兰所做的那样），来应对被归咎于克里姆林宫的攻击。

西科尔斯基表示，所有进入欧盟的俄罗斯人都应被要求持有生物识别护照，以防止特工使用虚假身份旅行。他还支持削减向俄罗斯人发放的欧盟旅游签证数量。去年发放了近 500,000 份。

德国调查人员认为，负责莱比锡 / 哈勒机场袭击的人员之一是一名持有俄罗斯护照的白俄罗斯人，他是持旅游签证进入德国的。

西科尔斯基呼吁所有其他欧盟国家“为了自身利益”，在有充分证据时公开指责俄罗斯对混合攻击负有责任。当被问及为什么有些人可能不愿这样做时，他表示：“我不想评论他人。每个人都有自己的政治考量。”

西科尔斯基是在访问伦敦期间发表上述言论的。他表示，他将游说英国邀请波兰参加明年在曼彻斯特举行的 G20 峰会，以换取华沙支持英国与欧盟恢复关系。英国将于 2027 年接任 G20 领先经济体小组的主席国。

波兰将支持英国争取与该集团走近的努力。“我们认为欧盟在有英国加入时更好，且未来也会更好，”他说。“我们请求在加入 G20 方面获得对等对待，因为我们认为我们在过去 30 年里所取得的（经济发展）成就需要得到认可。”

[⚠ 低质量翻译，建议复核] Since the source image (IMG_2D000555) was not provided in the prompt and the draft translation was a placeholder, I cannot perform the translation. Please provide the source text or image to be translated.

📄 Original Section

Paris and Berlin near deal on EU vehicles

Agreement set to push back continent's phaseout of combustion engines

IAN JOHNSTON — LUXEMBOURG

SARAH WHITE AND KANA INAGAKI — PARIS

France and Germany are set to announce a grand bargain that would push back Europe's phaseout of combustion engines and boost car production on the continent, as the EU's leading economies aim to bolster their embattled car industries against Chinese competition.

Emmanuel Macron, French president, said a deal on EU car policy was "imminent", adding: "We are finalising an agreement with our German partners so that Europe can advance, in order to better protect our industry and to keep our objectives of decarbonisation, increase our competitiveness and reinforce our sovereignty.”

Paris and Berlin have been in talks since this summer to agree a compromise on laws relating to the phaseout of combustion engines and new Made in Europe rules that would reserve public contracts and subsidies for cars, parts and batteries made in the bloc. Macron said: "I will not give the terms of an agreement before it is finalised but I am simply telling you that it is a question of, I hope, hours and if not hours, days."

Several EU laws are being negotiated in Brussels, designed to protect European carmakers from fierce competition from China but also to give domestic manufacturers more leeway to continue to sell combustion engines for longer. One official said a deal was required on the entire package of rules to advance blocked negotiations on the files.

The expected agreement, which would still need ratification by other EU member states and the European parliament, would dilute Europe's climate ambitions even further and rile trade partners such as the UK and Japan, which could be excluded from the Made in Europe scheme.

Germany has been seeking to water down 2030 emissions targets for car-makers, although one person familiar with discussions warned that this element had not yet been agreed. Macron said that the agreement would give

Europe a “pragmatic approach on our decarbonisation targets”.

Germany is also expected to secure a further easing of the EU's 2035 combustion engine ban, allowing combustion-engine vehicles to account for 10 per cent of new car sales, with no requirement that they use low-carbon fuels or materials, two people said.

France, in turn, is set to gain German support for public subsidies and contracts in technologies such as electric vehicles and batteries to be largely restricted to EU-based manufacturers.

Such a deal could prevent UK-made cars from being eligible for the public subsidies, although one of the people said this element was not finalised.

Renault chief executive François Provost said a deal would probably come this week, after European car-makers met Macron on Sunday night before this week's Paris Motor Show, where Chinese and European brands are showing off their latest models.

"It is high time to react," Provost said, pointing to the million jobs dependent on the car sector in France alone. Carmakers were not simply "crying and complaining" but had invested heavily in overhauling their operations to focus on electric cars as demanded by the EU.

Manufacturers such as Renault, the French-Japanese-owned carmaker, and Ford of the US assemble vehicles with a high share of European components in non-EU countries such as Turkey. They have argued that the fine print of Made in Europe rules should allow exceptions for some third countries.

Competition. Quota agreement

方向。

Achaet apsaque

R. al myrene

Sambane

Cauchabeniens

Babylon

Vlagesia

Orch CHALD

世界已经改变。地图已被撕裂。

当一切都不再确定时，怀疑是人之常情。人们倾向于在过去的事物中寻求庇护。

但我们必须拥抱现状。

这是一个现实主义的时代。

在他人假设时提出质疑。

在他人动摇时形成信念。

自 1796年以来，这就是伦巴第奥迪埃（Lombard Odier）。世界或许已经改变，但我们的立场从未改变。

在 LombardOdier.com 重新思考现实。

重新思考一切。

在 bcorp.com 了解更多信息

私人银行资产管理技术

国际

📄 Original Section

Brussels averts trade war over cars with Beijing

Tacit accord offers four-year

‘safeguard’ that will halve

hybrid exports by China

ANDY BOUNDS — BRUSSELS

JOE LEAHY — BEIJING

A full-scale trade conflict was averted after Brussels received Beijing's tacit agreement to impose a quota on EU imports of hybrid cars from China, part of an “understanding” achieved by the two sides.

Under the deal sealed on Friday, member states will be asked to approve a four-year trade “safeguard” — a measure that can be applied without evidence of market abuse and that will cut China’s annual exports by more than half next year.

China would accept an agreed quota of 350,000 vehicles in 2027 – down from an expected 800,000 this year – under the measure and would not retaliate against EU imports because of it, two EU officials said. The quota would increase by 6 per cent a year for the following three years, the officials added.

EU trade commissioner Maroš Šefčovič clinched the “understanding” during two days of high-stakes negotiations in Beijing.

The FT reported before last week's talks that Šefčovič was seeking a deal based on safeguard measures after China rejected a proposal that it voluntarily limit hybrid vehicle exports.

Šefčovič said on Friday the agreement would more than halve projected exports over the next four years, reducing the number of hybrids shipped by China by “several millions”.

The EU's trade deficit in goods with China hit €360bn in 2025 and has increased since. In the second quarter of 2026, it was €103bn, up from €93bn in the same period last year. Vehicles and machinery were the biggest contributors.

However, a safeguard has to apply universally. Another EU official said all countries would receive a quota in line with 2026 imports, also subsequently increasing by 6 per cent a year from 2028.

Šefčovič said Friday's deal would be a "blueprint for the next phase" of talks and had proved negotiations with China could bring results. He will meet Chi-

Exports of hybrid cars from China to the EU have soared Number of units ('000)

Geely electric vehicles bound for Europe at the Port of Taicang in Jiangsu province — Bloomberg

nese commerce minister Wang Wentao in March, hoping for further progress in reducing the trade deficit.

However, the second official said dialogue alone was unlikely to deal with the structural problem of unsustainable trade imbalances with China.

“Deindustrialisation, the result of what some would call the China shock – this is hitting hard in Europe’s industrial heartland,” the official said.

Several member states have been calling for tariffs on more Chinese products. And before Šefčovič's visit to Beijing, France and Germany produced a joint paper urging a new "last resort" defence tool that would cut market access entirely for some Chinese trade to deter retaliation.

They claim China has subsidised industries and is over-exporting to compensate for sluggish domestic demand – accusations Beijing vigorously contests.

China's commerce ministry said yesterday that the deal ensured "export space and stable growth for Chinese companies" while "addressing the realistic concerns" of its industry and those of the EU.

It said the agreement also did not discriminate against Chinese products or companies. “China’s quota will not be lower than that of any other import source for the EU,” the ministry said.

It added: “China reserves all rights to resort to dispute settlement and demand trade compensation within the WTO framework.”

The European Automobile Manufacturers' Association has welcomed the deal. Sigrid de Vries, Acea director-general, said it could “help facilitate the transition to a new era of Chinese presence in the European market in an orderly way and this is in the long-term interests of all parties”.

"The sudden and rapid rise in imports of plug-in hybrid electric vehicles and hybrid electric vehicles from China is having a destabilising effect on the European car market," the lobby group said.

The share of the EU market for plug-in hybrid electric vehicles taken by Chinese imports rose to 25 per cent in the first half of this year and for other hybrid electric vehicles to 14 per cent, both up from 2 per cent in 2024.

Chinese official media praised the deal, with the Communist Party's Global Times tabloid hailing it in an editorial as “a pragmatic step to properly handle bilateral differences” achieved “against the backdrop of a sluggish global economic recovery and undercurrents of anti-globalisation”.

The talks in Beijing showed the EU and China had the “wisdom” to manage differences and prevent escalation, state news agency Xinhua said.

However, Europe's chemical industry, which has filed a record number of trade complaints against China this year, said the deal “should be the first step towards broader and lasting relief for the sectors facing the greatest pressure”.

“Europe’s China challenge is far from solved. The chemical sector needs urgent breathing space. In 10 years, our chemical trade balance alone with China has swung from a small surplus to a deficit of more than €15bn in 2025,” industry lobby group Cefic said.

Many analysts say when EU leaders gather in Brussels for a summit this week, they would be unwise to reduce pressure on China based on just one sectoral deal.

Michael Pettis, a senior fellow at the Carnegie Endowment for International Peace, said the EU's difficulty with Chinese imports was a “systemic one and not sectoral”. The agreement did not address China's demand imbalances arising from its weak domestic economy that was leading it to tap export markets for its factories, Pettis wrote on X.

The European Policy Centre think-tank has urged EU leaders not to relax. "Unless the European Council uses this reprieve to set a timetable for rebalancing and corrective action, this will be a tactical win for Beijing," the centre's Georg Riekeles and Ian Hernandez said.

“Nothing announced so far changes the fundamental imbalance,” they wrote. “Beijing has turned down the heat just enough to keep Europe in the pot. But the frog is still boiling.”

Presidential race

以色列大选后政策出现激进转变的可能性被认为较低

反对派人士承诺若获胜将修复外交关系，但分析人士对实际变革的空间持怀疑态度

表明立场：加迪·艾森科特（Gadi Eisenkot）是以色列总理本雅明·内塔尼亚胡的主要挑战者。下方为前总理纳夫塔利·贝内特（Naftali Bennett）出席10月7日纪念活动的照片——Erik Marmor / Getty Images

内里·齐尔伯（NERI ZILBER）——特拉维夫

本雅明·内塔尼亚胡领导的以色列极右翼政府主导了在加沙和黎巴嫩的致命军事攻势，导致被占领的约旦河西岸定居者暴力升级，以及该国国际地位的剧烈下降。

由前军方首脑加迪·艾森科特领导的反对派对手誓言，如果他们在定于10月27日举行的这场势均力敌的选举中获胜，将修复这些损害。

但在外国官员和分析人士中，对于变革的实际空间存在质疑。

在哈马斯发起毁灭性的2023年10月7日袭击三年后，一名英国工党前部长表示，他们认为以色列社会持久的创伤和强硬转向将长期存在，随之而来的是对安全的极度关注。该人士表示：“认为如果内塔尼亚胡在秋季选举中落败，[以色列-英国]关系就会好转——我认为这非常、非常天真。”

许多盟友对以色列采取更强硬的立场——以及美国民主党的立场——部分是由对加沙人道主义危机和死亡人数的恐惧所驱动的。即便是以色列与

唐纳德·特朗普政府的关系，在内塔尼亚胡公开拒绝最近一项由美国支持的加沙方案，以及针对伊朗的联合战争未能推翻其政权后，也遇到了障碍。

前美国高级官员、现就职于外交关系委员会的埃莉莎·埃沃斯（Elisa Ewers）表示，如果反对派在10月27日获胜，外国官员需要对变革的预期保持“克制”。

“以色列的安全政策不太可能立即发生全面转变。但语气会发生变化，边缘部分也会有所改变……这是否足以开辟新航向才是真正的问题。”

在以色列国内，大多数主流民调显示反对派阵营略领先于内塔尼亚胡的极右翼联盟，尽管双方都尚未获得绝对多数。

在竞选期间，反对派领导人一直主张，如果他们获胜，将继续对该地区的武装组织发起猛烈打击。所有人都攻击内塔尼亚胡未能像他誓言那样“摧毁”哈马斯并“消除”伊朗的核计划。

有些人试图在右翼立场上压倒内塔尼亚胡。前总理纳夫塔利·贝内特誓言，针对该地区任何武装组织向以色列发射的每一枚导弹，都将打击伊朗以作报复。他及其竞选搭档亚伊尔·拉皮德（Yair Lapid）还承诺将卡塔尔列为敌对国家。

一名反对派领导人在最近一次与在以色列的外国外交官举行的私人会议上表示：“很多事情会改变，但可能不会像你们所有人希望的那样多，也不会那么快。”

务实的反对派人士表示，他们明白修复与盟友关系的紧迫需求，正如一名反对派高级官员所言，要“利用外交手段，而不仅仅是在中东轰炸一切”。

该人士补充道：“你需要一种能将军事行动转化为持久战略和外交胜利的方法……并且你需要与那些你不一定认同的国家进行对话。”

但由于内塔尼亚胡攻击其对手为“软弱”的左翼分子，反对派在公开场合通常倾向于淡化这些观点，而更倾向于关注国内问题。

联合呈现

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奖项

如果反对派获胜，艾森科特被认为是领导执政联盟最可能的人选。他的中间派“亚沙尔党”（Yashar party）在民调中领先于内塔尼亚胡的利库德集团，但尚未提出正式的外交和安全政策。

其他反对派领导人包括贝内特等右翼人士以及前国防部长阿维格多尔·利伯曼；中间派的前总理拉皮德；以及左翼的前军方副首长亚伊尔·戈兰。

分析人士强调，政策最终将取决于未来执政联盟的具体构成。但几位熟悉情况的人士以及反对派人物的公开声明，已经勾勒出一种方案的轮廓，其重点是遏制他们认为的极右翼政府最严重的过激行为。

据反对派人士和熟悉此事的人士称，巴勒斯坦村庄被拆除。

一个特别的重点将是扭转超民族主义部长贝扎莱尔·斯莫特里赫和伊塔马尔·本-格维尔的许多行动，尤其是在被占领的约旦河西岸。

“他们将希望向国际社会发出一个信号，表明已经发生了变化，”兰德公司（Rand Corporation）智库驻以色列的高级研究员希拉·埃夫隆表示。

与巴勒斯坦权力机构（在被占领的约旦河西岸行使有限的自治权）的功能性关系预计将有所改善。埃夫隆和其他熟悉反对派想法的人士表示，以色列政府扣押的部分税收和其他资金可能会悄悄恢复向巴勒斯坦人的转移。

然而与此同时，一些反对派领导人在竞选活动中采取了更强硬的基调。利伯曼承诺将“拆除”巴勒斯坦权力机构，并废除使其成立的 1993 年《奥斯陆协议》。大多数反对派领导人并未暗示将撤回内塔尼亚胡政府在约旦河西岸批准的定居点建设。

在加沙和黎巴嫩，只要哈马斯和真主党不解除武装，以色列全面从其控制的自称“安全区”撤军的可能性依然较低。但相关人士表示，在与美国主导的外交进程方面，仍有进一步参与的空间。

---

📄 Original Section

Pro-European MEP wins nomination for France's centre-left

ADRIENNE KLASA — PARIS

Raphaël Glucksmann has won the nomination of the French centre-left for president, kicking off a campaign that will have long odds of winning in next year's national vote.

Glucksmann, a pro-European MEP who has little experience of domestic politics, won the first-round primary ballot to represent a block largely made up of supporters of his small Place Publique party and the Socialists with 66 per cent of the vote.

He beat Socialist Party leader Olivier Faure, who came second with 14 per cent, and former Socialist presidential candidate Ségolène Royal, with 7 per cent of the vote.

“My first responsibility is to unite . . . the entire socialist family, and then to unite the entire family of the democratic left,” Glucksmann said after the results on Sunday. “Our real adversary is the far right, and we will unite to go into battle and prevent the Trump supporters, the Putin supporters, the xenophobes, and the demagogues from seizing control of the Republic.”

The 46-year-old activist and writer turned politician becomes the chosen candidate for a portion of France's leftist parties, but the block remains fragmented. Far-left candidate Jean-Luc Mélenchon has been gaining in the polls, while Communist Party leader Fabien Roussel, Green party head Marine Tondelier and independent François Ruffin, who split from Mélenchon's La France Insoumise, are all running on their own ticket. No alliance has been forged among the parties, splitting the left.

Glucksmann is polling in fourth nationally at 11 per cent, according to the most recent poll from Ifop that tested the scenario that Glucksmann won the primary. He has failed to gain momentum since he declared his candidacy in August. However, his win in the primary has secured him the financial and organisational backing of the much larger Socialist party.

He is still far behind Rassemblement National's Marine Le Pen, who has consistently held a large lead and is polling at 32 per cent, raising the possibility that a far-right leader will take the Élysée for the first time. In the Ifop scenario, Mélenchon is now vying for second place with centrist Édouard Philippe, with 15 and 16 per cent of the vote each.

The results of the primary were delayed from Saturday night after the Socialists said the vote had been disrupted by a cyber attack, although the party has not named a perpetrator or identified a motive for the incident.

"The intervention of technical experts confirmed that there was no alteration to the integrity of the election and that the votes were properly recorded," the party said.

Glucksmann's challenge will be to close the gap with Mélenchon, his long-time antagonist on the left, to convince leftwing voters to choose him instead.

Glucksmann, the son of an activist intellectual family, has campaigned on promises to boost workers' pay, levy more taxes on large inheritances and rescue France's struggling public schools. He is a longtime critic of Russia and has supported stronger European defence and support for Ukraine.

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Sabotage campaign

“很多事情将会改变，但可能不会像你们希望的那样多，也不会那么快”

埃夫隆补充说，任何新政府“都会希望与（美国总统唐纳德·）特朗普合作”。

艾森科特和其他反对派领导人已承诺解决极端主义定居者袭击巴勒斯坦人的问题。这位前军事首脑称这些袭击是政府鼓励的一种蓄意的且“危险的政策”。

一位要求匿名的知名左翼活动人士在谈到被占领的约旦河西岸时表示，有空间可以消除过去四年中“60%到70%”的破坏。但此人补充说，真正的转变将需要对数百名极端定居者发出禁制令。该活动人士表示：“我不认为艾森科特政府会在某个早晨醒来，然后寻求与定居者正面交锋。”

📄 Original Section

Poland tells Nato to prepare for deadly Russian hybrid attack

BEN HALL AND MADELEINE SPEED

LONDON

Nato members should prepare a robust response for a possible deadly Russian hybrid attack, Poland's foreign minister has said, as concern grows about Moscow's escalating sabotage campaign on European soil.

Radosław Sikorski told the FT that the likelihood of someone being killed was growing as Russia multiplied its operations to disrupt and destabilise European societies. But he admitted the alliance would have to make a “judgment” on how to respond.

"The question is what constitutes an attack, a cross-border attack, and as long as it is property . . . it is one thing, but if people start dying, then we will have to have another very serious conversation at Nato.

"When will we make a judgment that the Russians have come too far? Because it is a judgment. You know, there is no agreed prior definition."

Sikorski declined to elaborate on how Nato should retaliate for a fatality but noted Poland and Estonia invoked the alliance's Article 4 — a request for highlevel consultations – after airspace violations by Russian drones and fighter jets, implying it would need to do more.

Nato's Article 5, the mutual defence clause, can be invoked if a member state comes under armed attack. It has been triggered only once, by the US, after the September 11 2001 terrorist attacks carried out by al-Qaeda.

Poland and its neighbours have been alarmed by the rise in cyber attacks, airspace violations and sabotage attempts against European targets that they consider part of a Russian campaign to undermine support for Ukraine.

In July, a Russian Kh-101 cruise missile crashed into a field and exploded in eastern Poland.

Officials from five European intelligence agencies have told the FT that senior executives at European defence companies were being targeted for assassination by Russian operatives.

German intelligence services have recently warned Russia's “shadow war” was entering a new, potentially deadly phase. Berlin last month blamed Moscow for orchestrating a drone attack on Leipzig/Halle airport in August. The explosive device, which appeared to be aimed at a Ukrainian cargo plane, failed to detonate.

Sikorski called on European allies to respond to attacks attributed to the Kremlin by closing down Russian consulates, preventing Moscow's diplomats from travelling freely across the countries of assignment and cutting down on the number of Russian diplomats altogether, as Poland has done.

Sikorski said all Russians entering the EU should be required to have a biometric passport to prevent operatives from travelling on false identities. He also backed calls for a cut in the number of

Polish police attend the scene of a Russian missile crash in July

EU tourist visas issued to Russians. Nearly 500,000 were issued last year.

German investigators believe one of the men responsible for the Leipzig/Halle airport attack was a Belarusian with a Russian passport who entered Germany on a tourist visa.

Sikorski called on all other EU countries “for their own sake” to call out Russian responsibility for hybrid attacks when they had sufficient evidence. Asked why some may be reluctant to do so, he said: “I don’t want to comment on others. Everybody has politics.”

Sikorski was speaking on a visit to London where he said he would lobby the UK to invite Poland to the G20 summit in Manchester next year in return for Warsaw's support for a British rapprochement with the EU. The UK takes over the presidency of the G20 group of leading economies in 2027.

Poland would support British efforts to get closer to the bloc. “We think the EU was better and would be better with Britain in it,” he said. “And we ask for reciprocity in getting us into the G20 because we think what we’ve achieved [in economic development] over the last 30 years demands recognition.”

变革商业。创造机遇。

祝贺 2026 年英国社会流动性奖（UK Social Mobility Awards 2026）的所有获奖者。

表彰那些通过扩大人才获取渠道、开发包容性的晋升路径并为后代创造机遇，从而构建更强大企业的组织。

巴克莱银行（BARCLAYS）

即使在以色列法律下也被视为非法的非法定居者前哨站和大型农场的建设将被削减，以及少数靠近

劳埃德银行（LLYODS）

法国巴黎银行（BNP PARIBAS）

普华永道（pwc）

天空电视台（sky）

在 2027 年成为变革合作伙伴。

在一个问题上，反对派在左右两翼之间达成了共识：不会建立巴勒斯坦国。一些人，如贝内特和利伯曼，长期以来一直反对。另一些人，如拉皮德和戈兰，则认为在不久的将来期待该问题有所进展是不现实的。艾森科特则喜欢说，他一生中从未“说过‘巴勒斯坦国’这个词”。但他也表示，他支持两个民族之间的“分离”。

赫德利·梅（Hedley May）

媒体合作伙伴

金融时报（FT FINANCIAL TIMES）

拉皮德认为，世界明白以色列作为一个国家与当前这个“危险、傲慢、疏忽且暴力”的政府之间的区别。“事情是可以修复的，”他在 8 月的一次演讲中说道。

其他人则没有那么自信。

埃弗斯说：“挑战在于，（任何新的以色列政府）可能会面临一些由于以色列自身的政治限制而无法实现的不可能的期望。但任何新政府都需要做出一些迅速的决定，开启（沟通）渠道并采取一些具体步骤……至少能止血。” 额外报道由吉姆·皮卡德（Jim Pickard）提供

德国

劳工部长辞职，梅尔茨执政联盟紧张局势加剧

安妮-西尔万·沙萨尼（ANNE-SYLVAINE CHASSANY）——柏林

德国社会民主党籍劳工部长昨日突然辞职，在总理弗里德里希·梅尔茨（Friedrich Merz）的执政联盟正艰难就具有争议的养老金和劳动力市场改革达成一致之际，引发了政府的人事调整。

贝尔贝尔·巴斯（Bärbel Bas）表示，她还将放弃社会民主党（SPD）共同领导人的职务。她提到其继女近期去世，以及包括来自梅尔茨领导的基民盟（CDU）在内的“日益加剧”的人身攻击。

接替她的是亚历山大·施魏策尔（Alexander Schweitzer），他曾任莱茵兰-普法尔茨州州长，其所属的社民党在今年的地区选举中败给了基民盟。梅尔茨昨日表示，施魏策尔将“接手立法草案，我希望这些草案能很快在内阁获得通过并在议会提交”。

此次变动威胁到梅尔茨改革议程中一些政治上最敏感的部分，包括对德国成本高昂的现收现付养老金制度进行改革、延长周日工作时间以及收紧该国的病假条制度。

在9月的地区选举中，极右翼的德国选择党（AfD）取得重大进展，导致执政联盟内部紧张局势升级。基民盟和社民党的选举失利，加深了合作伙伴在旨在振兴欧洲最大经济体的经济改革步伐和范围上的分歧。

图宾根大学教授兼社民党成员亨宁·迈耶（Henning Meyer）表示：“新任部长会希望重新审查改革方案本身，因此这可能会推迟进展。”

知情人士透露，巴斯的离职还移除了梅尔茨执政联盟中一名较为抵触改革的人员。她曾抵制一些最痛苦的拟议福利削减方案，并与副总理拉尔斯·克林拜尔（Lars Klingbeil）就后者准备做出的让步产生分歧。

她的离职还将重新引发社民党内部关于是否放弃共同领导结构、由克林拜尔担任唯一党首的讨论。

但克林拜尔在社民党内部面临着日益增长的不满，一些人将上个月在东北部梅克伦堡-前波美拉尼亚州选举失利归咎于政府的养老金改革，在该州选举中，德国选择党排名第一。

哥廷根大学政治学教授安德烈亚斯·布施（Andreas Busch）表示：“由于克林拜尔处于弱势，双头领导体制可能会继续。”

接替巴斯担任社民党共同领导人的潜在人选之一是梅克伦堡-前波美拉尼亚州州长曼努埃拉·施韦西格（Manuela Schwesig）。

MARSH

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观点有助于将最重要的决策联系起来——从风险管理到资本运作，从支持员工到引导投资决策以及提升绩效。

欲了解更多信息，请访问 marsh.com。

Marsh 荣幸成为一级方程式赛车（Formula 1®）的官方合作伙伴

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📄 Original Section

Radical shift in Israeli policy after poll seen as unlikely

Opposition figures have promised to mend foreign ties if they win but analysts are sceptical of the scope for real change

Taking a stand: Gadi Eisenkot is the lead challenger to Benjamin Netanyahu. Below, ex-PM Naftali Bennett at an October 7 memorial—Erik Marmor/Getty Images

NERI ZILBER — TEL AVIV

Benjamin Netanyahu's far-right Israeli government has presided over deadly military offensives in Gaza and Lebanon, growing settler violence in the occupied West Bank and a steep fall in the country's international standing.

His opposition rivals, led by former military chief Gadi Eisenkot, have vowed to repair the damage if they win a knife-edge election set for October 27.

But among foreign officials and analysts, there is scepticism as to the real scope for change.

Three years after Hamas's devastating October 7 2023 attack, a former UK Labour minister said they believed the lingering trauma and hardline shift in Israeli society were here to stay – and with them the overwhelming focus on security. “The idea that [Israel-UK] relations will be OK if Netanyahu loses the autumn elections – I think that is very, very naive,” the person said.

Many allies' tougher positions on Israel – along with that of the US Democrats – were driven in part by horror at the humanitarian crisis and death toll in Gaza. Even Israel's relationship with the

Donald's Trump administration has hit hurdles after Netanyahu publicly rejected a recent US-backed proposal for Gaza and after the joint war in Iran failed to dislodge its regime.

Elisa Ewers, a former senior US official now at the Council on Foreign Relations, said foreign officials need to be “restrained in their expectations” of change if the opposition wins on October 27.

"There is unlikely to be an immediate, wholesale shift in Israeli security policies. But there will be a change in tone, and changes on the margins . . . Whether that will be enough to chart a new course is the real question."

Within Israel, most mainstream polls show the opposition bloc narrowly ahead of Netanyahu's far-right coalition, though both remain short of a clear majority.

During the campaign, opposition leaders have maintained that if they win, they will continue striking hard against militant groups across the region. All have attacked Netanyahu for failing to “destroy” Hamas and “eliminate” Iran’s nuclear programme, as he had vowed to do.

Some have sought to outflank Netanyahu from the right. Former prime minister Naftali Bennett has vowed to strike Iran in retaliation for every missile fired on Israel by any armed group in the region. He and running mate Yair Lapid have also pledged to proscribe Qatar as an enemy state.

One opposition leader told foreign diplomats in Israel at a recent private meeting: "A lot will change, but probably not as much and not as fast as you all would like."

Pragmatic opposition figures say they understand the urgent need to mend ties with allies and, as one senior opposition official put it, “use diplomacy and not just bomb everything in the Middle East”.

"You need an approach that turns military action into enduring strategic and diplomatic victories . . . and you need to talk to countries that you don't necessarily agree with," the person added.

But with Netanyahu attacking his rivals as “weak” leftists, the opposition has usually sought to play down such points in public, preferring to focus on domestic issues.

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Eisenkot is considered the most likely figure to head a governing coalition if the opposition wins. His centrist Yashar party is polling ahead of Netanyahu's Likud, but has yet to put forward an official foreign and security policy.

Other opposition leaders include rightwingers such as Bennett and former defence minister Avigdor Lieberman; the centrist Lapid, a former prime minister; and the leftwing former deputy military chief Yair Golan.

Analysts stress that policies will ultimately depend on the precise make-up of a future governing coalition. But several people familiar with the situation, along with public statements by opposition figures, have set out the contours of an approach focused on halting what they see as the worst excesses of the far-right government.

Palestinian villages taken down, according to opposition figures and people familiar with the matter.

A particular focus would be reversing many of the actions of ultranationalist ministers Bezalel Smotrich and Itamar Ben-Gvir, especially in the occupied West Bank.

“They will want to send a signal to the international community that there has been a change,” said Shira Efron, an Israel-based senior fellow at the Rand Corporation think-tank.

Functional relations with the Palestinian Authority – which exercises limited self-government in the occupied West Bank – are expected to improve. Efron and other people familiar with the opposition's thinking said the transfer to Palestinians of some tax revenues and other funds withheld by the Israeli government was likely to quietly resume.

Yet at the same time, some opposition leaders have struck a tougher note on the campaign trail. Liberman has promised to “dismantle” the PA and annul the 1993 Oslo Accords that brought it into being. Most opposition leaders have not signalled a rollback of settlement construction approved by Netanyahu’s government in the West Bank.

In Gaza and Lebanon, a wholesale Israeli military withdrawal from self-declared “security zones” it controls remains unlikely as long as Hamas and Hizbollah do not disarm. Yet there is scope for more engagement with US-led diplomatic processes, the people said.

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利雅得在胡塞武装导弹袭击中保持强硬

全球石油公司首席执行官在主机场遭袭后缺席能源大会

艾哈迈德·阿尔-奥姆兰（AHMED AL OMRAN）——吉达

维里蒂·拉特克利夫（VERITY RATCLIFFE）与

彼得·坎贝尔（PETER CAMPBELL）——伦敦

在利雅得主机场一周内第四次遭到导弹袭击数小时后，沙特阿拉伯能源部长在利雅得开幕的一场重大能源会议上发表了强硬言论。

“在沙特的字典里，没有‘恐惧’这个词，”阿卜杜勒-阿齐兹·本·萨勒曼王子在昨天的世界石油大会开幕致辞中表示。

在活动举行前的几天里，受伊朗支持的胡塞武装对利雅得机场发起的一波波袭击，导致许多国际高管无法出席。几乎所有飞往该机场的航班都被取消了。

“感谢所有前往利雅得的人，”该部长说。“你们的出席至关重要。当环境变得更加艰难时，对话变得更加重要。”

在沙特部长的演讲期间，来自沙特阿拉伯、卡塔尔和科威特的能源高管坐在前排，而观众席中穿着西式服装的人数明显少于此类活动通常的预期。

据两名知情人士透露，埃克森美孚（ExxonMobil）、道达尔能源（TotalEnergies）、壳牌（Shell）和英国石油（BP）的首席执行官原计划出席此次会议，但随后撤回。

卡利德国王国际机场在周日遭到新一轮袭击。由沙特领导的打击也门胡塞反叛军的联军表示，一枚巡航导弹在利雅得机场附近被拦截并摧毁，而 4 号航站楼被一枚“未知投射物”击中并引发火灾。一名巴基斯坦居民在袭击中丧生，另有 11 人受伤。

迄今为止最严重的袭击发生在周六，当时对 3 号航站楼的导弹袭击造成 13 人死亡，300 多人受伤——这是十多年来沙特阿拉伯遭受的最致命袭击。此前周四，包括一名沙特飞行员在内的四人在机场丧生。在此之前一天又发生了另一次袭击。沙特当局将所有袭击归咎于也门胡塞反叛军。

该王国的民航局昨天表示，机场运营将继续暂停，以“确保机场设施的安全和运行准备状态”。该局向运营商发布的通知称，计划关闭至 10 月 17 日。该局未立即回应置评请求。

与此同时，沙特民航总局表示，在石油资源丰富的东部省，达曼的法赫德国王国际机场在周日遭到袭击。该局表示，损害评估工作正在进行中。

根据 Cirium 的数据，自周四袭击以来，飞往沙特阿拉伯的航班已取消 6,000 多架。Flightradar24 显示，昨天利雅得机场仍处于关闭状态，而达曼机场虽已重新开放，但仍显示有大量航班取消。

在上周的袭击之后，汉莎航空和印度航空等国际航空公司暂停了飞往利雅得的服务。许多航空公司在 2 月份美国与伊朗爆发战争之初暂停服务后，至今尚未恢复。见评论版

美国政治。蒙羞的前总统

共和党人推动尼克松的奇特复兴

这位在50多年前被迫辞职的领导人正被右翼重新正名

乔·米勒（JOE MILLER）——华盛顿

本月在华盛顿丽兹卡尔顿酒店的宴会厅里，共和党人聚集在一起，向一位实现了“最伟大政治回归”的深受爱戴的总统致敬。

但这群绝大多数为 MAGA 支持者的拥趸所崇拜的对象并非唐纳德·特朗普，而是在向理查德·尼克松致敬。

在 Z 世代影响者的帮助下，这位在 50 多年前被迫辞职的美国总统正迅速在右翼阵营中获得正名，甚至副总统 JD 万斯（JD Vance）也在敦促支持者重新评估他的政治遗产。

“如果水门事件发生在明天，它可能就像一个 12 小时的短时新闻，”万斯在 6 月说道，他指的是导致尼克松被免职的窃听和封口费丑闻。“认为这件事能搞垮一个总统职位的想法简直是疯了。”

在社交媒体上，名为“Nixonmaxxing”的视频——其中包含尼克松演讲的片段或档案影像，有时配以嘻哈音乐背景——正获得数百万次的崇拜点击。在现实世界中，尼克松棒球帽正成为华盛顿及其他地区右翼派对上的流行时尚配饰。

对于许多现代粉丝来说，尼克松最具影响力的政策，例如他与苏联的缓和、他对法律与秩序的打击以及他的经济民族主义，是“美国优先”的前身，应当被重新评价。

上个月，特朗普领导的司法部将尼克松的复兴推向了新高度。据《华尔街日报》率先报道，司法部正在开展一项审查，调查前总统及其盟友在“水门事件特别检察组”期间如何受到联邦检察官的对待。

虽然一直有一些保守主义者认为这位美国第 37 任总统被不公正地赶出了椭圆形办公室——特朗普最亲密的政治心腹之一罗杰·斯通（Roger Stone）的背上就有一个巨大的尼克松纹身——但近期复兴的很大一部分动力来自于总部位于加利福尼亚州的理查德·尼克松基金会中那些精通媒体的工作人员。

该基金会成立于 20 世纪 80 年代，由 33 岁的吉姆·拜伦（Jim Byron）管理。2023 年，他聘请了年轻的营销总监克里斯·巴伯（Chris Barber），此人是网络上流传的大量病毒式尼克松内容的幕后推手。

挥手告别：理查德·尼克松 1974年在白宫附近告别。下方为本月在华盛顿举行的尼克松基金会大战略峰会上的徽章 Chick Harrity / AP

“社交媒体和替代媒体让新观众有机会听到他的声音——通常是第一次听到——他对 50 年前问题的看法在今天依然具有显著的相关性和共鸣，”巴伯说道。

他补充说，虽然基金会在吸引网络青年方面取得了成功，但它正“利用这种新发现的兴趣，鼓励人们在模因（memes）之外进行更深入的探索，研究（尼克松）完整的记录……以及他在长达数十年的重要职业生涯中所产生的影响”。

尼克松部分的正名源于对其所谓不法行为的重新评估——以及一种信念，即他被同一个“深层政府”盯上了，而这个“深层政府”在 2016 年大选前曾试图证明特朗普与俄罗斯人勾结。

“理查德·尼克松绝对是被逼出办公室并被陷害的，”共和党国会议员赖利·摩尔（Riley Moore）说道，他目前正在游说将一艘航空母舰以这位前总统命名。

这种思维方式促使特朗普政府调查尼克松在水门事件调查期间受到的对待。上个月，司法部的专业责任办公室召见了尼克松的前员工、《尼克松阴谋》一书的作者杰夫·谢泼德（Geoff Shepard），请他就其前上司及其盟友如何被非法针对进行一场两小时的演示报告。

根据他在网上发布的文档，谢泼德希望美国司法部（DOJ）能向法院提起申请，要求撤销针对尼克松同谋者的定罪——其中仅有少数人还活着）——理由是“检察机关和司法机关存在不当行为”。

美国司法部表示，鉴于谢泼德“在水门事件方面的专业知识和学术研究”，律师邀请他进行演示，但强调此次演示“并不构成一项调查”。

无论尼克松是否在水门事件中被洗清罪名，他的政策正被保守派重新激活。

在本月由尼克松基金会在华盛顿特区举办的大战略峰会上，共和党议员和思想家们排队赞扬这位前总统在处理中东问题上的“剧本”、他对“美国能源自给自足”的关注，以及他在越南战争期间“对抗媒体”的立场。

特朗普的复兴也帮助尼克松的怀旧者们阐述其观点。一些

“如果水门事件发生在明天，它可能就像一个12小时的新闻报道。认为它能推翻一个总统职位的想法简直是疯了”

JD 范斯，

副总统

一些要求匿名的峰会参与者告诉《金融时报》，近期几任总统任期内的腐败丑闻使得水门事件显得微不足道。

从积极方面来看，摩尔表示，他看到尼克松和特朗普之间存在“巨大的相似之处”，包括对关税的热爱以及“重新向美国工人倾斜”。

对于参加峰会的其他尼克松粉丝来说，这位前总统的“氛围”和政治主导地位是其主要吸引力。

“我不认为 Z 世代突然对尼克松感兴趣是因为缓和政策，或者因为第九章 [禁止接受联邦资助的机构进行性别歧视] 或其他什么原因，”来自蒙大拿州、前往参加此次活动的大学共和党成员布伦丹·博雷斯表示，“我认为更多的是他所代表的那种美国人的战斗精神。”

本月峰会的一位参与者，21岁的学生奥斯汀·皮尔斯表示，同龄人之间的“反传统主义”在一定程度上解释了尼克松热潮的原因。

但他补充说，这位前总统能够复兴的关键在于，他之前的遗产是“水门事件以及整个媒体狂热的产物”，而“经历过那个时代的一代人正在死去”。

奖项颁发

📄 Original Section

Labour minister resigns as Merz coalition strains deepen

ANNE-SYLVAINE CHASSANY — BERLIN

Germany's Social Democratic labour minister abruptly resigned yesterday, triggering a government reshuffle just as Chancellor Friedrich Merz's coalition struggles to agree on contentious pensions and labour market reforms.

Bärbel Bas said she would also give up her role as co-leader of the Social Democratic Party (SPD). She cited the recent death of her stepdaughter and “intensifying” personal attacks including from Merz’s Christian Democrats.

She will be replaced by Alexander Schweitzer, the former Rhineland-Palatinate premier whose SPD was defeated by the CDU in regional elections this year. Schweitzer is “taking on draft legislation, which I hope will be adopted in the cabinet and introduced in parliament quickly”, Merz said yesterday.

The change threatens to disrupt some of the most politically sensitive parts of Merz's reform agenda, including an overhaul of Germany's costly pay-as-you-go pension system, extending Sunday working hours and tightening the country's sick-note system.

Coalition tensions are growing after strong gains for the far-right Alternative for Germany party in regional elections in September. The CDU and SPD's electoral setbacks have deepened the partners' disagreements over the pace and scope of economic reforms designed to revive Europe's largest economy.

"The new minister will want to review the reforms themselves, so this will probably delay progress," said Henning Meyer, professor at Tübingen university and SPD member.

Bas's departure also removes one of the more reluctant reformers within Merz's coalition. She resisted some of the most painful proposed welfare cuts and clashed with vice-chancellor Lars Klingbeil over concessions he was ready to make, according to people familiar with the discussions.

Her departure will also reignite a debate within the SPD over whether to abandon its co-leadership structure and leave Klingbeil as sole party chief.

But Klingbeil faces growing discontent within the SPD, with some blaming the government's pension reforms for last month's electoral setback in the north-eastern state of Mecklenburg-Vorpommern, where the AfD came first.

"With Klingbeil in a weak position, the dual leadership is likely to be continued," said Andreas Busch, a politics professor at Göttingen university.

One potential successor to Bas as SPD co-leader is Manuela Schwesig, the state premier of Mecklenburg-Vorpommern.

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诺贝尔经济学奖授予助力银行应对金融危机的美国经济学家

德尔菲娜·斯特劳斯（DELPHINE STRAUSS）

那些为中央银行应对 2008 年金融危机提供理论支撑的美国经济学家获得了今年的诺贝尔经济学奖——而与此同时，美国联邦储备委员会在主席凯文·沃什（Kevin Warsh）的领导下正采取新的方向。

斯坦福大学教授罗伯特·E·霍尔（Robert E Hall）和哥伦比亚大学的迈克尔·伍德福德（Michael Woodford）因开发了新凯恩斯主义模型而获得认可。全球所有的中央银行和财政部都使用该模型来平抑经济周期的波动。

他们的研究有助于解决由 20 世纪 70 年代石油危机引发的争论。当时，高通胀与高失业率同步上升，导致许多人认为传统的凯恩斯主义政策弊大于利。

瑞典皇家科学院表示：“简单来说，[他们的模型] 没有其他可行的替代方案，”并补充说，霍尔和伍德福德帮助“从零开始构建了一个新框架”，展示了家庭和企业的数百万个决策如何塑造经济结果。

考虑到美联储在沃什的领导下采取了截然不同的方法，诺贝尔委员会决定认可 2008 年危机后央行所部署的非传统工具的关键架构师，这一点令人瞩目。

伍德福德研究中包含的一个核心见解——即家庭和企业的决策受其对未来的预期支配——在金融崩溃后的时期被证明至关重要，因为当时中央银行正在寻求新的工具来刺激需求。

霍尔的突破在于证明了消费者支出的变化是不可预测的，因为家庭是根据对未来收入的预期采取行动，并且仅在发生无法预见的事件后才会改变行为。

伍德福德在其 2003 年出版的《利率与价格》（Interest and Prices）一书中纳入了霍尔的研究结果，同时证明了企业的决策同样受预期支配，包括对成本和未来利率的预期。

诺贝尔委员会指出，这本书现在已成为货币政策制定者的参考著作，并对中央银行产生了明确的实际影响，使得“清晰且可信的沟通……对其运作至关重要”。

伍德福德随后成为了“前瞻性指引”（forward guidance）的强力倡导者。在这种机制下，中央银行提供有关预期政策路径的信息，以塑造预期并提高政策效力。

德国基尔世界经济研究所所长莫里茨·舒拉里克（Moritz Schularick）表示，他的研究“为中央银行提供了一个框架，使其对明天的表态与今天的行动同样重要——这就是为什么现在每一次欧洲央行（ECB）的新闻发布会都被逐字研读的原因”。

伍德福德昨天表示，这种前瞻性指引是应对 2008 年危机政策响应的“重要组成部分”，当时中央银行已将利率削减至接近零，迫切需要新工具。

然而，长期以来一直批评前瞻性指引的沃什在接管美联储后，已发出信号，标志着一个更加缄默时代的开始。他仅对利率决定发表简短评论，并在决定做出与公布显示其理由的会议纪要之间引入了三周的延迟。

布鲁金斯-金融时报研究

📄 Original Section

Riyadh defiant amid Houthi missile strikes

Global oil company chiefs skip energy congress after attacks on main airport

AHMED AL OMRAN — JEDDAH

VERITY RATCLIFFE AND

PETER CAMPBELL — LONDON

Saudi Arabia's energy minister struck a defiant tone as he opened a major energy conference in Riyadh hours after missiles hit the city's main airport for the fourth time in a week.

"The word fear in the Saudi dictionary does not exist," said Prince Abdulaziz bin Salman in his opening address at the World Petroleum Congress yesterday.

A wave of strikes by Iranian-backed Houthi militants on Riyadh's airport in the days leading up to the event made it impossible for many international executives to attend. Almost all flights to the airport were cancelled.

"To everyone who has travelled to Riyadh, thank you," the minister said. "Your presence matters. When circumstances become more difficult, dialogues become more important."

Energy executives from Saudi Arabia, Qatar and Kuwait were seated in the front row during the Saudi minister's address, while the audience included noticeably fewer attendees in western-style clothing than would ordinarily be expected at an event such as this.

The chief executives of ExxonMobil, TotalEnergies, Shell and BP were all expected to attend the conference but withdrew, according to two people with knowledge of the matter.

King Khalid International airport was targeted in a fresh wave of attacks on Sunday. The Saudi-led coalition fighting Yemen's Houthi rebels said a cruise missile was intercepted and destroyed in the vicinity of Riyadh's airport, while Terminal 4 was hit with an “unknown projectile” that caused a fire. One Pakistani resident was killed in the attack and 11 others were injured.

The worst attack to date was on Saturday, when a missile strike on Terminal 3 killed 13 people and injured more than

300 – the deadliest assault on Saudi Arabia in more than a decade. The previous Thursday, four people including a Saudi pilot were killed at the airport. This followed another attack the previous day. Saudi authorities have blamed Yemen's Houthi rebels for all the strikes.

The kingdom's civil aviation authority said yesterday that the airport's operations would remain suspended to "ensure the safety and operational readiness of the airport's facilities". A notice to operators issued by the authority said it intended to stay shut until October 17. The authority did not immediately respond to a request for comment.

Meanwhile, in the oil-rich Eastern Province, King Fahd International airport in Dammam came under attack on Sunday, the Saudi General Authority of Civil Aviation said. The authority said a damage assessment was under way.

More than 6,000 flights into Saudi Arabia have been cancelled since Thursday's attack, according to Cirium. Yesterday, Riyadh airport was still closed, while Dammam had reopened but with a large number of cancellations showing, according to Flightradar24.

After last week's attacks, international airlines such as Lufthansa and Air India suspended services to Riyadh. Many carriers had not restarted services after halting them in February at the start of the US-Israel war on Iran. See Opinion

全球增长背后潜藏“令人担忧的预兆”

萨姆·弗莱明 (SAM FLEMING) 和 PARIS 艾米莉·赫伯特 (EMILY HERBERT)

伦敦

一项为《金融时报》开展的研究显示，在人工智能（AI）支出的助力下，各大经济体正顶住中东能源冲击以维持增长，但主权债务市场的动荡将笼罩在本周的国际货币基金组织（IMF）和世界银行会议之上。

根据最新的布鲁金斯-金融时报全球经济复苏追踪指数（Brookings-FT Tracking Indexes for the Global Economic Recovery，简称 Tiger），美国、中国和印度等经济体的实际活动继续抵御高燃料价格，各项指标显示今年产出将保持稳健增长。

然而，分析发现，考虑到持续的通胀压力和不断上升的公共债务，在出人意料的强劲 GDP 指标背后潜藏着“令人担忧的预兆”。该研究结果出炉之际，正值本周在曼谷举行的 IMF 和世界银行年会在即，各国财政部长和央行行长可能会在此讨论主权债务压力以及与 AI 相关的风险。

康奈尔大学教授、布鲁金斯学会高级研究员埃斯瓦尔·普拉萨德（Eswar Prasad）表示：“世界经济已经摆脱了一系列挫折，似乎准备迎来一年的稳健增长。”

“全球政策制定者面临的关键挑战是，由于持续的高通胀和财政挥霍导致政府债务收益率处于高位，他们的操作空间正在缩小，这两个因素都抑制了私人需求。”

---

“全球政策制定者面临的关键挑战是操作空间的缩小”

2 月份美国主导的对伊朗袭击导致油价涨至每桶 $100 以上，再次引发了领先经济体的通胀，但能源储备的动用迄今为止有助于缓冲企业和家庭受到的影响。

美国及其蓬勃发展的 IT 部门支撑着经济扩张。在欧洲，由于债务驱动的基础设施和军事支出，德国的增长比预期更为强劲，而法国则在债务可持续性的担忧中陷入低迷。

IMF 将于今日更新全球增长预测。今年 7 月的预测指出，今年和明年的全球扩张率至少为 3 per cent，较去年的 3.5 per cent 小幅下降。

在新兴经济体中，印度表现突出，其央行预测本财年增长率为 7.1 per cent，而中国在家庭消费增长乏力的背景下，仍严重依赖外部需求。

然而，作为石油和天然气净进口国的贫困经济体严重暴露在能源冲击的影响之下——即便在美国，飙升的汽油价格也加剧了共和党面临的政治压力。

除了高燃料价格，人们对主权债务负担可持续性的焦虑也在增加——尤其是美国、日本、英国和欧盟部分地区，特别是法国。

中期选举

📄 Original Section

Republicans spur strange revival of Nixon

Leader who was forced to quit more than 50 years ago is being rehabilitated on the right

JOE MILLER — WASHINGTON

In the ballroom of Washington's Ritz-Carlton hotel this month, Republicans gathered to honour a beloved president who mounted “the greatest political comeback”.

But the adulation of the mostly Maga crowd was not for Donald Trump; they were hailing Richard Nixon.

With the help of Gen Z influencers, the US president who was forced to resign more than 50 years ago is being rapidly rehabilitated on the right, with even vice-president JD Vance urging supporters to reassess his legacy.

"If Watergate happened tomorrow it would be like a 12-hour news story," Vance said in June, referring to the wire-tapping and hush money scandal that led to Nixon's removal from office. "The idea that it would have taken down a presidency is crazy."

On social media, “Nixonmaxxing” videos, featuring snippets of Nixon's speeches or archive footage – sometimes set to hip-hop soundtracks – are racking up millions of adoring views. In the real world, Nixon baseball caps are becoming a popular fashion accessory at rightwing parties in DC and beyond.

To many of his modern fans, Nixon's most consequential policies, such as his détente with the USSR, his law and order crackdown and his economic nationalism, were a precursor to “America First” and ought to be reappraised.

Last month, Trump's Department of Justice took the Nixon renaissance a step further, conducting a review – first reported by The Wall Street Journal – into how the former president and his allies were treated by federal attorneys on the “Watergate Special Prosecution Force”.

While there have always been some conservatives who believe the 37th

US president was unfairly hounded out of the Oval Office — Roger Stone, one of Trump's closest political confidantes, has a large tattoo of Nixon on his back — much of the recent revival is being fuelled by media-savvy staffers at the California-based Richard Nixon Foundation.

The foundation, set up in the 1980s, is run by 33-year-old Jim Byron. In 2023, he hired young marketing

Parting wave: Richard Nixon bids farewell near the White House in 1974. Below, a badge at the Nixon Foundation's Grand Strategy Summit in Washington this month Chick Harrity/AP

director Chris Barber, the man behind much of the viral Nixon content circulating online.

“Social and alternative media are giving new audiences the chance to hear his voice — often for the first time — opining on issues from 50 years ago that are still remarkably relevant and resonant today,” Barber said.

He added that while the foundation had found success in engaging young people online, it “is using this newfound interest to encourage people to go deeper than the memes and explore [Nixon’s] full record . . . and impact had over a decades-long, consequential career”.

Some of Nixon's rehabilitation is driven by a reassessment of his alleged misdeeds — and a belief that he was targeted by the same “deep state” that tried to prove Trump colluded with Russians in the run-up to the 2016 election.

"Richard Nixon was absolutely coupled out of office and was framed," said Republican Congress member Riley Moore, who is campaigning for an aircraft carrier to be named after the former president.

This line of thinking has led the Trump administration to look into how

Nixon was treated during the Watergate investigation. Last month, the justice department's Office of Professional Responsibility called in former Nixon worker Geoff Shepard, author of The Nixon Conspiracy, to deliver a two-hour presentation on how his former boss and his allies were unlawfully targeted.

According to documents he posted online, Shepard hopes the DoJ will go to court and ask that verdicts against Nixon's accomplices – few of whom are alive – be vacated “on account of prosecutorial and judicial misconduct”.

The Department of Justice said Shepard was invited by attorneys to give a presentation, “given his expertise and scholarship on Watergate” but stressed that the presentation “does not constitute an investigation”.

Regardless of whether Nixon is exonerated over Watergate, his policies are being resuscitated by conservatives.

At the Grand Strategy Summit in DC, held by the Nixon Foundation this month, Republican lawmakers and thinkers lined up to laud the former president's “playbook” for the Middle East, his focus on “American energy self-sufficiency” and his “stand against the media” over the Vietnam war.

Trump's resurgence has also helped Nixon nostalgists make their case. Some

'If Watergate happened tomorrow it would be like a 12-hour news story. The idea that it would have taken down a presidency is crazy'

JD Vance,

vice-president

summit attendees – who asked not to be named – told the FT that corruption scandals in recent presidencies had made Watergate seem insignificant.

On the positive side, Moore said he saw a “tremendous amount of similarities” between Nixon and Trump, including a love of tariffs and a “reorientation back to the American worker”.

For other Nixon fans in attendance at the summit, the former president's "vibes" and political dominance were his primary appeal.

“I don’t think it’s all of a sudden, Gen Z is interested in Nixon because of détente or because of Title IX [which prohibited sexual discrimination in institutions receiving federal funding] or whatever,” said Brendan Boreth, a member of College Republicans in Montana who travelled to the event. “I think it’s more what he represents as kind of this fighting spirit of an American.”

One attendee at this month's summit, 21-year-old student Austin Pierce, said that “contrarianism” among his peers accounted for some of the Nixon buzz.

But the key to the former president's revival, he added, was that his legacy was previously “a product of Watergate and that whole media frenzy” and that “the generation that lived through that are dying”.

Prize award

马斯克投入 $275mn 助力共和党维持国会控制权

乔·米勒 (JOE MILLER) 和 SPD 亚历克斯·罗杰斯 (ALEX ROGERS)

华盛顿

迈克尔·塔夫 (MICHAEL TAFFE) — 纽约

埃隆·马斯克已成为共和党在 11 月中期选举中力争维持国会控制权的最大捐赠者，在美国各地的关键选区投入了超过 $275mn。

一名发言人昨日表示，这位全球首富在 2024 年助力唐纳德·特朗普再次当选总统时花费了近 $300mn，而此次捐款是在过去几个月内完成的，旨在帮助共和党支撑几个陷入困境的参议院和众议院竞选活动。

据一名知情人士透露，马斯克不仅向自己的 America Pac 捐赠了数千万加元，还在夏季向参议院领导基金（Senate Leadership Fund）捐赠了 $158mn，该基金是支持共和党参议院候选人的主要政治行动委员会。

联邦申报文件显示，这些资金进一步扩大了共和党的财务优势。截至 8 月底，共和党委员会与特朗普的 Maga Inc 共筹集了超过 11亿美元，而民主党约为 $600mn。马斯克的捐款（其中部分尚未在竞选资金记录中正式披露）最早由《纽约时报》报道。

在捐款消息传出之前，《金融时报》的一项民调发现，选民对特朗普处理美国经济的表现评价依然较低。

根据《金融时报》与 Focaldata 本月开展的调查，仅有四分之一的登记选民认可总统在就业和经济方面的处理，而约五分之一的选民认可其在应对通货膨胀方面的表现。

埃隆·马斯克的捐款增加了共和党的财务优势

特朗普的整体支持率依然低迷，为 34%。45% 的登记选民表示，总统使得共和党在 11 月获胜变得更加困难。

外界普遍预计民主党将在 11 月 3 日的选举中夺回众议院，而由共和党控制的参议院则被视为胜负难料。

马斯克通过 America Pac 的支出在很大程度上与与特朗普相关的 Maga Inc 超级政治行动委员会保持一致，后者的资金储备超过 $400mn。

America Pac 已为密歇根州、阿拉斯加州、俄亥俄州、爱荷华州、德克萨斯州、缅因州和新罕布什尔州的参议院选战，以及至少十几个竞争激烈的美国众议院选战支付了短信、数字广告和印刷广告费用。马斯克的捐款标志着他在与特朗普闹翻一年多后，重新回归 Maga 阵营。

📄 Original Section

Nobel goes to US economists whose work aided banks in financial crash

DELPHINE STRAUSS

The American economists whose work underpinned central banks' responses to the 2008 financial crisis have won this year's Nobel Prize for economics – just as the US Federal Reserve takes a new tack under its chair Kevin Warsh.

Robert E Hall, a professor at Stanford University, and Michael Woodford of Columbia University won recognition for developing the New Keynesian models used by all central banks and finance ministries around the world to smooth the ups and downs of economic cycles.

Their work helped to resolve debates sparked by the oil crises of the 1970s, when high inflation rose in tandem with high unemployment, leading many people to feel traditional Keynesian policies had done more harm than good.

“Quite simply, there are no other viable alternatives [to their models],” the Royal Swedish Academy of Sciences said, adding Hall and Woodford had helped “to build a new framework from the ground up”, showing how millions of decisions taken by households and businesses shaped economic outcomes.

The Nobel committee's decision to recognise a key architect of the unorthodox tools deployed by central banks after the 2008 crisis is striking given the very different approach the Fed is taking under Warsh's leadership.

One of the main insights embedded in Woodford's work – that households' and businesses' decisions are governed by their expectations of the future – proved crucial in the aftermath of the financial crash, as central banks sought new tools to boost demand.

Hall's breakthrough was to show that changes in consumer spending are unpredictable, because households act on expectations of future income and change their behaviour only after an event they could not anticipate.

Woodford, in his 2003 book Interest and Prices, included Hall's result while showing that businesses' decisions are also governed by expectations, including on costs and future interest rates.

The book – now a reference work for monetary policymakers – had clear practical consequences for central banks, the Nobel committee noted, making “clear and credible communication . . . vital to their operations”.

Woodford went on to become a forceful advocate of “forward guidance”, where central banks give information about the intended policy path in order to shape expectations and make their policy more effective.

His research “gave central banks a framework in which what they say about tomorrow matters as much as what they do today — which is why every ECB press conference is now read word for word,” said Moritz Schularick, president of Germany’s Kiel Institute for the World Economy.

Such forward guidance was “an important part” of the policy response to the 2008 crisis, when central banks had cut interest rates close to zero and were urgently in need of new tools, Woodford said yesterday.

However Warsh, a longstanding critic of forward guidance, has signalled the start of a more tight-lipped era since taking over at the Fed, giving only terse commentary on interest rate decisions, and introducing a three-week delay between decisions and publication of the minutes showing their rationale.

Brookings-FT research

社会影响之业

释放增长，改变生活

“社会商业信托（Social Business Trust）已经证明，追求社会影响可以像任何投资决策一样，具备同样的严谨性、清晰度和证据支持。这种对纪律化、可衡量影响的关注，有助于确保来自企业界的专业知识能够应用于能产生真正改变的地方。”

理查德·奥尔德菲尔德 (RICHARD OLDFIELD)，施罗德投资 (Schroders) 首席执行官

施罗德投资的全球 AI 与创新主管夏洛特·伍德 (Charlotte Wood) 为社会商业信托的数字顾问委员会提供支持，帮助社会企业在快速变化的格局中应对数字化、运营和战略挑战。

夏洛特借鉴施罗德投资在 AI 实施方面的经验，帮助塑造了社会商业信托及其支持机构应对新兴技术的方式。具体做法是将数字化工具的实用指南与支持措施相结合，帮助机构嵌入并管理这些技术，以实现价值最大化。她还协助促进了社会商业信托社会企业网络内部的协作与知识共享。

通过施罗德投资的 AI 专家与社会企业领导者之间的持续协作，这些机构在采用新兴技术以及在变化的世界中进行创新方面，增强了信心和能力。

商业洞察

体育

Sujeet

Indap

公司与市场

华尔街贷款机构预计将报告火热交易势头冷却

五大银行营收将出现下降
本季度仍比去年增长 13%

JOSHUA FRANKLIN — 纽约

华尔街银行预计将在下周报告今年最糟糕的交易业绩，这引发了人们对该业务创纪录的增长势头即将结束的担忧。

根据彭博社汇总的数据，分析师预测美国五大投资银行——摩根大通、高盛、摩根士丹利、花旗集团和美国银行——在第三季度业绩报告中，股票和固定收益交易营收合计将约为 380亿美元。

虽然这一数字仍比一年前高出 13%，但与第二季度创纪录的 470亿美元交易营收相比，出现了大幅下降

---

📄 Original Section

Musk puts \$275mn into fight to keep Congress

JOE MILLER AND ALEX ROGERS

WASHINGTON

MICHAEL TAFFE — NEW YORK

Elon Musk has become the largest donor to Republicans' efforts to retain control of Congress in November's midterm elections, spending more than \$275mn on crucial races across the US.

The donations by the world's richest man – who spent almost \$300mn helping Donald Trump get re-elected in 2024 as president – were made over the past few months, a spokesperson said yesterday, as the Republican Party sought to shore up several struggling Senate and House campaigns.

As well as donating tens of millions of dollars to his own America Pac, Musk gave \$158mn to the Senate Leadership Fund over the summer, the main political action committee supporting Republican Senate candidates, according to a person familiar with the matter.

The sums add to Republicans' large financial advantage, with the party's committees and Trump's Maga Inc together raising more than \$1.1bn, compared with Democrats' roughly \$600mn as of the end of August, according to federal filings. Musk's contributions – some not yet formally disclosed in campaign finance records – were first reported by The New York Times.

News of the donations comes after an FT poll found that voters were continuing to give Trump low marks on his handling of the US economy.

Just one-quarter of registered voters approve of the president's handling of jobs and the economy, while roughly one-fifth approve of his handling of inflation, according to the survey this month by the FT and Focaldata.

Elon Musk's donations add to the Republicans' financial advantage

Trump's overall approval rating also remained low at 34 per cent. Forty-five per cent of registered voters said the president was making it harder for Republicans to win in November.

Democrats are broadly expected to flip the House of Representatives in the November 3 election, while the Senate, controlled by Republicans, is viewed as a toss-up.

Musk's spending via America Pac has been largely in line with the Trump-linked Maga Inc Super Pac, which has a war chest of more than \$400mn.

America Pac has paid for text messages as well as digital and print adverts for Senate races in Michigan, Alaska, Ohio, Iowa, Texas, Maine and New Hampshire and at least a dozen competitive US House races. Musk's donations mark his return to the Maga fold just over a year after he fell out Trump.

“银行此前对前景非常乐观。我们预计这种情况将有所回落”

季度，且较今年第一季度下降了近 12%。

奥本海默（Oppenheimer）分析师克里斯·科托夫斯基（Chris Kotowski）表示，问题在于“交易领域这些巨大的收益在多大程度上能够维持或进一步扩大”。

自 2020 年以来，在 2010 年代贷款机构收益低迷的一段时间后，交易业务重新受到青睐。银行加倍投入于为对冲基金和资产管理公司提供交易融资。

今年，美国投资银行的交易部门受益于与 AI 相关的市场波动、大宗商品价格变动以及利率冲击。

这创造了一个股票交易环境，摩根大通首席执行官杰米·戴蒙（Jamie Dimon）在上一季度将其描述为“接近于最理想的状态”。

但美银（BofA）、摩根大通和摩根士丹利的银行家们上个月警告称，这些收益不太可能重复出现。他们将其归咎于亚洲融资交易的收缩，以及固定收益、货币和大宗商品业务的放缓。

第三季度在季节性上可能较为缓慢，因为这段时间涵盖了银行家的暑假，但预计这仍将是银行历史上表现最好的第三季度。

然而，第二季度与第三季度之间的增速放缓预计将异常剧烈。巴克莱银行分析师杰森·戈德堡（Jason Goldberg）预测，其跌幅约为 20%，而典型的季节性跌幅仅为 6%。

分析师预计，这五家银行第三季度的总利润将达到 440亿美元。虽然这比一年前高出近 9%，但与第二季度相比下降了约 20%——即近 100亿美元。

投资银行业务的营收预计将呈现类似模式。

加拿大皇家银行（RBC）高级分析师杰拉德·卡西迪（Gerard Cassidy）表示：“在第二季度末，银行对前景非常乐观。更多的 IPO 以及并购。我们预计这种热情将有所回落。”

由于担心数据中心融资带来的营收可能开始消退，以及担心 AI 智能体（AI agents）会影响客户忠诚度，再加上对利率上升影响其证券投资组合价值的担忧，银行股在过去一个月落后于大盘。

分析师预计，随着 10 年期国债收益率上升，银行将在这些投资组合中记录未实现损失。

账面减值不会影响利润，但会影响资本状况。银行证券投资组合中的未实现损失在 2023 年区域性银行危机期间成为了一个关注点。

此后，银行已将持仓转向短期债务，这应使其在面对长期利率的价格波动时风险较低。

新挫折 LVMH 时尚与皮革销售额下降 $5% as slowdown in China hits luxury sector

克里斯汀·迪奥（Christian Dior）2027 春夏系列。迪奥由 LVMH 所有 —— Simon Wohlfahrt / AFP via Getty Images

艾德里安娜·克拉萨（ADRIENNE KLASA）—— 巴黎

LVMH 时尚与皮革制品业务第三季度的销售额下降了 5%，该奢侈品集团受到中国需求放缓的影响，此前对中国市场反弹的早期希望令人失望。

这次下滑标志着一个挫折，此前作为路易威登（Louis Vuitton）和迪奥（Dior）所有者的 LVMH 在其风向标部门报告了两年来的首次增长。

在截至 9 月的三个月中，该部门的第三季度有机营收同比跌幅超过了分析师预期的 1.8%。

随着海湾冲突、地缘政治动荡和通货膨胀打击奢侈品消费者的购买力，奢侈品行业正从近四年的低谷中走出的希望在过去几个月里逐渐消散。

LVMH 昨天表示，其时尚与配饰部门继续受益于“活跃的美国市场，但在第三季度受到了中国需求放缓的影响”。

LVMH 的业绩拉开了奢侈品行业预计将十分艰难的财报季序幕，即便像爱马仕（Hermès）这样的顶级品牌也面临压力。

LVMH 该季度的有机销售额增长 1%，达到 185 亿欧元（185亿欧元），这主要得益于珠宝以及精选零售部门（尤其是美容零售商丝芙兰 Sephora）的强劲需求。分析师此前预计该集团该季度的增长率为 1.3%。

LVMH 表示：“尽管经济和地缘政治环境依然充满不确定性，但集团依然充满信心，并将维持一项专注于持续提升品牌吸引力的战略。”

LVMH 的股价今年下跌了近 40%，投资者在质疑奢侈品行业还能在何处寻找增长点。由首席执行官贝尔纳·阿尔诺（Bernard Arnault）家族控制的该集团市值约为 1900 亿欧元（1900亿欧元），较 2023 年的峰值已缩减超过一半。

今年美国市场的奢侈品消费在一定程度上抵消了中国的疲软，中国的需求一直受到该国房地产市场困境的压制。

但美国市场可能也在走弱——花旗银行（Citibank）本月公布的信用卡数据显示，过去三个月中，美国在奢侈品上的支出每月至少下降 4%。

LVMH 时尚与皮革制品销售额的持续疲软，使人们将目光聚焦在奢侈品最大品牌路易威登（Louis Vuitton）的表现上。

今年夏天，该设计师品牌因起诉热门茶饮品牌 Molly Tea 侵犯商标权，在中国引发了抵制。详见 Lex 专栏第 26 页。

CVC试图掩盖以色列国防交易以避免批评

亚伦·基希费尔德 (AARON KIRCHFELD)、莱斯·阿尔-哈拉夫 (LAITH AL-KHALAF) 和亚历山德拉·希尔 (ALEXANDRA HEAL) —— 伦敦

私募股权集团 CVC 试图对其投资一家以色列国防公司一事保持沉默，因为担心这会引发争议，因此仅向基金投资者披露该交易，而未公开宣布。

据知情人士透露，这家在荷兰上市的公司已同意从迷彩制造商 Fibrotex 的创始人布鲁姆 (Blum) 家族手中收购该公司 40% 的股份，交易金额约为 €250mn。

以色列国防军资深成员阿迪·布鲁姆 (Adi Blum) 将继续持有该公司股份。

知情人士表示，由其中型市场 Catalyst 基金主导此次投资的 CVC 德国团队，在达成协议前已与阿迪·布鲁姆进行了多年的沟通。

但异常的是， NEW 决定不对此次投资发布新闻稿，而是仅将交易情况告知基金投资者。

知情人士称，由于在当前环境下投资以色列国防领域具有敏感性，该私募股权集团试图让这笔交易保持低调。

据该集团网站显示，尽管该公司总部位于以色列的佩塔提克瓦 (Petah Tikva)，但在给投资者的公告中，这家收购公司避免提及该公司是以色列公司。

知情人士表示， NEW 将 Fibrotex 描述为一家在包括美国、日本和澳大利亚在内的“其他国家”拥有业务的全球性企业。

在《金融时报》联系后，该收购公司承认 Fibrotex 在“以色列和美国设有主要办公地点”，并以此为据为“分布在 20 多个国家的高度国际化的客户群”提供服务。

该公司补充道：“ Catalyst 很高兴能达成协议收购少数股权……在长期国防现代化和安全需求增长的背景下， Catalyst 将支持 Fibrotex 继续进行国际扩张和创新”。

Fibrotex 未回应置评请求。

此次交易发生在一个敏感时期，以色列与欧洲及其他国家的关系正处于敏感阶段。上个月，英国与法国和加拿大一起宣布，禁止进口与被占领的约旦河西岸以色列定居点相关的商品和部分服务。

RONALD PHILLIPS

乔治三世时期蓝色约翰石与雪花石膏瓮，英国，约 1800 年

26 BRUTON STREET, LONDON W1J 6QL

+44 (0)20 7493 2341 ADVICE@RONALDPHILLIPS.CO.UK

RONALDPHILLIPSANTIQUES.CO.UK

金融家 Goldthorpe 旨在证明质疑 LIV 高尔夫球赛的人是错误的

PGA Tour 超级巨星罗里·麦克罗伊（Rory McIlroy）今年质疑，如果像沙特阿拉伯政府这样的支持者都无法让新兴的 LIV 高尔夫联赛在经济上可行，那么该联赛是否真的能运转起来。

长期深耕华尔街的投资者泰德·戈德索普（Ted Goldthorpe）决心证明麦克罗伊以及体育界的大多数人是错误的。戈德索普在 BC Partners 领导私人信贷业务已有十年之久，这家私人资本管理公司管理着约 400亿美元的资产，目前正寻求重启。

近 30 年前，他在高盛著名的特殊情况交易台（special situations desk）积累了经验，当时他与一群未来的业界名流共事，其中包括艾伦·瓦克斯曼（Alan Waxman）和朱利安·索尔兹伯里（Julian Salisbury）等人。离开高盛后，戈德索普曾在 Apollo 担任高管，后者或许是过去 40 年里最顶尖的信贷投资公司。

沙特公共投资基金（PIF）在过去五年中为 NEW 投入了 55亿美元，结果上个月将其申请 Chapter 11 破产保护。《金融时报》此前报道，PIF 很乐意关闭该巡回赛，止损并抽身。

然而在今年春天， NEW 的首席执行官、资深体育高管斯科特·奥尼尔（Scott O'Neil）也被赋予了自由，以尝试快速组建一个继任联赛。在接触的数百方机构中，包括 Apollo、Oaktree 和 Ares 在内的所有机构都拒绝了。唯独 BC Partners 除外。在上周于伦敦举行的一场体育产业会议上，戈德索普解释了为什么他对建立继任者“ 2.0”持乐观态度。

“全球高尔夫球领域存在巨大的机遇，且团队高尔夫有其生存空间。这里有很大的潜力来创造特许经营权和团队价值，而这在高尔夫生态系统的其他部分是非常难以实现的。如果外部投资者想要接触高尔夫领域，这就是实现途径。”

我多年来一直报道不良债务和企业破产，发现其中的所有戏剧冲突、鲜明的人物性格，以及金融和法律技术细节都非常迷人。

但重组领域另一个重要元素是创业精神。与全球其他一些破产制度不同，美国的 Chapter 11 制度鼓励重组，以促进就业创造和经济活力。

尽管 BC Partners 的重启计划面临重重困难，但这次尝试证明了金融极客也可以成为远见卓识者

许多投资-

者喜欢交易——以 55 美分的价格买入不良债券或贷款，以便在例如 73 美分时获得偿付。但在这种情况下， NEW 和戈德索普相信他们可以在旧有的废墟之上建立起一个辉煌的企业——并赚到更巨额的财富。

BC Partners 和戈德索普对那种认为他们是围绕盘旋、试图利用现有 50亿美元税收亏损进行捡漏的“秃鹫投资者”的说法感到愤怒。这些亏损可以使未来的利润免于缴纳税款，而 2.0 与其他体育业务相结合，可以创建一个收购集团，这是 BC Partners 在其他领域成功实施过的策略。

常驻纽约的戈德索普本人此前曾个人投资过职业长曲棍球和次级冰球队伍，例如宾汉顿黑熊队（Binghamton Black Bears）和巴吞鲁日金鱼队（Baton Rouge Kingfish）。

至于新的，BC Partners 表示其自身及合作伙伴将承诺投入高达 $300mn。该联赛预计总共将举办 17 场赛事，其中包含 10 个全球“标志性”分站。戈德索普坚称，有许多共同投资者表达了兴趣。

但根据 BC Partners 的协议约定， 2.0 目前尚未拥有、且需要在未来两周内获得的是球员的承诺（接近 BC Partners 的人士表示，只要有一名球星加入，其他人也会觉得跳槽是安全的）。在职业高尔夫球界近年来的积怨之后，美国 PGA Tour 和欧洲的 DP World Tour 自然会对允许其人才出现在 NEW 赛场上采取强硬立场。

尽管人们一直在讨论增长市场和特许经营价值，但 LIV 仍然是一场轰动性的破产案，而且还有几场激烈的对峙有待解决。到目前为止，BC 仅投入了 $4mn，要求更多球员加入后才会投入更多资金。他们拟议的 $300mn 资金附带了各种法律条款，例如在清算时的权利，以保护其自身利益。

与此同时，PIF 正寻求免除其对球员（合同欠款 $400mn）以及贸易债权人（据报道另有超过 $100mn 的索赔）的所有责任，这导致双方陷入了紧张的讨价还价之中。

这对 BC 来说会成功吗？形势对其不利，但其仅仅是初步的筹备工作就已证明，金融极客除了其他特质外，也可以是远见卓识者，且这一过程本身极具娱乐性。

sujeet.indap@ft.com

📄 Original Section

'Banks were very enthusiastic about the outlook. We expect [that] to be dialled down a bit'

quarter and a decline of almost 12 per cent from the first quarter of the year.

The question is “to what extent that these big gains in trading can be sustained or expanded upon,” said Chris Kotowski, an analyst at Oppenheimer.

Since 2020, trading has returned to favour after a period of lacklustre returns for lenders in the 2010s. Banks have doubled down on financing trades for hedge funds and asset managers.

This year, US investment banks' trading arms benefited from AI-linked market volatility, commodity price moves and interest rate shocks.

That generated an equities trading environment that JPMorgan chief executive Jamie Dimon described last quarter as “getting close to as good as it gets”.

But bankers at BofA, JPMorgan and Morgan Stanley warned last month that these gains were unlikely to be repeated. They blamed a pullback in financing trades in Asia and a slowdown in fixed income, currencies and commodities.

The third quarter can be seasonally slower, since it spans bankers' summer break, and it is still expected to be banks' best third quarter on record.

However, the slowdown between the second and third quarters is predicted to be unusually stark, with Barclays analyst Jason Goldberg forecasting a fall of about 20 per cent compared with a typical seasonal decline of 6 per cent.

Analysts expect the five banks to generate total profits of \$44bn for the third quarter. While that is almost 9 per cent higher than a year ago, it represents a decline of about 20 per cent – or almost \$10bn – from the second quarter.

Revenues in investment banking are expected to show a similar pattern.

"At the end of the second quarter, the banks were very enthusiastic about the outlook. More IPOs and mergers and acquisitions. We expect the enthusiasm to be dialled down a bit," said Gerard Cassidy, senior analyst at RBC.

Bank stocks have lagged behind the broader market in the past month because of worries that revenues from data centre financing may start to fade, as well as fears that AI agents will hit customer loyalty and concerns about the effect rising interest rates on the value of their securities portfolios.

Analysts expect banks will record unrealised losses on these portfolios, as yields on 10-year Treasuries have risen.

The paper markdowns will not affect profits but do affect capital positions. Unrealised losses in banks' securities portfolios emerged as a concern during the 2023 regional banking crisis.

Since then, banks have shifted holdings towards short-term debt, which should leave them less exposed to price fluctuations in longer-term rates.

New setback LVMH's fashion and leather sales fall $5\%$ as slowdown in China hits luxury sector

Christian Dior's Spring Summer 2027 collection. Dior is owned by LVMH — Simon Wohlfahrt/AFP via Getty Images

ADRIENNE KLASA — PARIS

Sales in LVMH's fashion and leather goods business fell 5 per cent in the third quarter with the luxury group hit by a slowdown in demand in China where early hopes for a turnaround have disappointed.

The decline marks a setback from the previous quarter when the owner of Louis Vuitton and Dior reported its first period of growth in its bellwether division for two years.

Third-quarter organic revenue at the unit fell more than the 1.8 per cent expected by analysts in the three months to September compared with a year earlier.

Hopes that luxury was emerging from a near four-year downturn have faded over the past couple of months with the Gulf conflict, geopolitical turmoil and inflation hitting the spending power of luxury consumers.

LVMH said yesterday that its fashion and accessories unit continued to benefit from the “buoyant US market but was affected in the third quarter by the slowdown in demand in China”.

LVMH's results kick off what is expected to be a tough reporting season for the luxury industry with even top-end brands such as Hermès coming under pressure.

Group sales at LVMH rose 1 per cent in the quarter on an organic basis to €18.5bn, boosted by strong demand for jewellery and in its selective retailing division, notably beauty retailer Sephora. Analysts expected a 1.3 per cent rise for the group in the quarter.

“Despite an economic and geopolitical environment that remains uncertain, the group remains confident and will maintain a strategy focused on continuously enhancing the desirability of its brands,” LVMH said.

LVMH's share price is down nearly 40 per cent this year with investors questioning where the luxury industry will be able to find growth. At about €190bn, the market value of the group controlled by the family of chief executive Bernard Arnault has more than halved from its 2023 peak.

Luxury spending in the US this year has helped offset weakness in China where demand has been weighed down by troubles in the country's real estate market.

But the American market may also be weakening – credit card data published by Citibank this month showed that spending on luxury goods in the US had fallen at least 4 per cent in each of the past three months.

The ongoing weakness in LVMH's fashion and leather goods sales puts a spotlight on the performance of luxury's biggest brand, Louis Vuitton.

The designer label suffered a backlash in China this summer after it sued popular tea brand Molly Tea for trademark infringement. Lex page 26

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生活的压力可能会将一个人推向崩溃的边缘。一场离婚、一次租金上涨，或是一场疾病。

你的公司可以在此时提供帮助。

加入 Crisis 的“无家可归者联盟”（Homelessness Alliance），成为这个日益壮大的企业行列的一员，共同打造更强大、更健康的职场环境。

在此了解更多：

无家可归者

联盟

技术

📄 Original Section

CVC sought to hush Israeli defence deal to avoid criticism

AARON KIRCHFELD, LAITH AL-KHALAF AND ALEXANDRA HEAL — LONDON

Private equity group CVC sought to keep quiet an investment in an Israeli defence company because of concerns that it would attract controversy, only disclosing the deal to fund investors rather than announcing it publicly.

The Dutch-listed firm has agreed to buy a 40 per cent stake in camouflage maker Fibrotex from the company's founding Blum family for about €250mn, according to people familiar with the matter.

Adi Blum, a veteran of the Israel Defense Forces, will remain invested in the company.

CVC's German team, which led the investment by its mid-market Catalyst fund, had been speaking to Adi Blum for years ahead of the deal being agreed, the people said.

But unusually, CVC decided against announcing the investment through a press release and instead only informed investors in the fund about the deal.

The private equity group was seeking to keep the deal under the radar because of sensitivities associated with investing in the Israeli defence sector in the current environment, the people said.

In the investor communiqué, the buy-out firm avoided any mention of the company being Israeli, despite it being based in Petah Tikva in Israel, according to the group's website.

Instead, CVC described Fibrotex as a global business with a presence in the US, Japan and Australia “among others,” the people said.

After the FT contacted CVC, the buy-out firm acknowledged that Fibrotex had “principal locations in Israel and the US” from which it served “a highly international customer base across more than 20 countries”.

It added that “CVC Catalyst is delighted to have agreed to acquire a minority stake . . . CVC Catalyst will support Fibrotex’s continued international expansion and innovation against a backdrop of long-term defense modernisation and growing security requirements”.

Fibrotex did not respond to a request for comment.

The deal comes at a sensitive time for relations between Israel and European and other nations. The UK, alongside France and Canada, last month announced an import ban on goods and some services linked to Israeli settlements in the occupied West Bank.

扎克伯格称 Meta 现已达到 AI “前沿”

Muse Wonder 新模型据称已追平甚至超越竞争对手

汉娜·墨菲（HANNAH MURPHY）——费城

马克·扎克伯格表示，Meta 已经在 AI 的“前沿”领域追上了竞争对手。他承诺将进一步投入巨额资金以挑战 Anthropic 和 OpenAI^💡，并拒绝了放缓这项强大技术开发速度的呼吁。

在 Meta 昨日发布 Muse Wonder 模型之际，这位亿万富翁首席执行官在接受《金融时报》采访时声称，新系统“将允许实现更复杂的行为，这些行为处于目前领域研究的前沿”。

这家硅谷公司声称，根据某些技术基准测试，Muse Wonder 在某些任务中的表现优于 Anthropic 和 OpenAI 发布的同类模型。

此次发布标志着扎克伯格的一个里程碑。自去年以来，他已投入数十亿加元以重塑 Meta 在 NEW 领域的领导地位，建设庞大的数据中心，并以数百万加元的年薪聘请顶尖研究人员——这一切都是为了

---

“（这将）允许实现处于……AI领域前沿的更复杂行为”

旨在与 OpenAI、Anthropic 和 Google 保持同步。

“达到这个阶段既需要大量的计算资源和投资，也需要相关团队在较长时间内进行大量极其严谨的科学工作，”扎克伯格表示。

AI 的推进最初令投资者感到不安，但自 9 月初 Meta 推出 Muse 个人 AI 助手以来，股价已上涨近 10%。Muse 使用自主机器人来执行日常任务，例如订购杂货和预订旅行。

应用迅速成为——且目前仍是——美国 Apple 和 Android 应用商店中下载量最高的应用。这家市值 $1.8tn 的公司打算将其新模型集成到中。

Meta 表示， Wonder 在某些技术基准测试中优于 Anthropic 的 Claude Opus 5.5 和 Fable 5.1，以及 OpenAI 的 GPT-6 Astra。公司称，该模型可用于执行复杂任务，从“理解租赁合同到解析财务或健康信息”。然而， Wonder 也将是“封闭”的，其最佳版本将直接销售给企业。这将使其在企业合同的竞争中与 Anthropic 和 OpenAI 正面交锋，是对其雄心的严峻考验。

扎克伯格暗示将进一步增加支出，因为 Meta “已经在研究下一个升级步骤”，并补充说，其模型开发“从现在起可能会感觉速度快得多”。

然而，对于技术进步速度即将超出人类控制的日益增长的担忧，他则不以为意。在众多高调事件中，7 月份有 1,000 多个 OpenAI 自主“智能体”脱离测试环境，入侵了初创公司 Hugging Face。

这位 Meta 首席执行官拒绝透露他心中关于“P(doom)”的数值——这是一个在硅谷被广泛讨论的术语，用于描述导致大规模毁灭的概率。相反，他认为确保模型安全的责任应由每个实验室自行承担。

“我更倾向于认为， LIV 是一种可以通过常规护栏进行工程化并负责任地构建的技术，而不是那种将 LIV 拟人化的愿景，即认为它将自行其是，”他说道。

扎克伯格此前曾拒绝 Anthropic 的达里奥·阿莫代（Dario Amodei）和 OpenAI 的萨姆·奥特曼（Sam Altman）等实验室负责人提出的在全行业范围内“放缓” 开发的呼吁。他在起草美国总统唐纳德·特朗普白宫的《超级智能协议》（Accord on Super Intelligence）中也发挥了关键作用，该协议设定了行业自我监管的原则，但批评者称，这远未达到正式的全球治理机制。

扎克伯格转而推行一种面向个人消费者的“个人超级智能”愿景，使 Meta 与 OpenAI 和 Anthropic 区分开来，后者旨在构建“AGI”——即在大多数任务上都能超越人类的人工通用智能。

“其他人专注于更多的知识工作、自动化类案例，而我们更专注于个人赋能，”扎克伯格说，并补充道他希望构建“对世界有益的事物”。

扎克伯格表示，他认为 Meta 需要处于的前沿才能实现这一愿景，并指出存在一种“二分法”，即模型在某些学术领域迅速进步，但“仍然缺乏足够的常识来成为理想的个人助手”。

OpenAI 上个月声称，其一个尚未发布的内部模型取得了数学突破，解决了该领域最大的问题之一。

“我不明白这在社会学上意味着什么，也就是说，在我们要获得一个能为所有人可靠处理客户支持的系统之前，我们先得到了能处理这些高级数学问题的 LIV 系统，”扎克伯格说。“但我认为，在那方面显然还有很多工作要做。”

Meta 的 AI 战略在 2025 年 4 月受到了审视，此前其 Llama 4 模型未能达到预期，促使扎克伯格在人才和基础设施上投入巨资。他聘请了数据标注集团 Scale AI 的创始人亚历山大·王（Alexandr Wang）来领导 Meta AI 计划核心的“TBD 实验室”。

Muse Wonder 也代表了 LIV 偏离其优先发展开源模型的方向，用户或公司需要付费才能访问。 LIV 表示，将提供分级方案，从基础使用的每百万 token 20 美分，到功能更强大的高级方案 Muse Wonder Full，每月最高 200 加元。

还必须克服用户隐私方面的担忧，少数用户指责 Muse 在未经许可的情况下访问私人信息。参见 Lex

技术。东南亚

Grab 和运营 Gojek 应用的 GoTo 控制了东南亚约 85% 的网约车市场 —— Agoes Rudianto / FT

📄 Original Section

Financier Goldthorpe aims to prove doubters wrong over LIV Golf

he PGA Tour superstar Rory McIlroy this year questioned whether the economics of the upstart LIV Golf league could be

made to work if a backer like the Saudi Arabian government failed to do so.

Ted Goldthorpe, a longtime Wall Street investor, is determined to prove McIlroy – and much of the sports world – wrong. Goldthorpe has for a decade run the private credit business at BC Partners, the private capital manager that manages about \$40bn of assets and is now seeking to revive LIV.

He cut his teeth almost 30 years ago at the famed special situations desk at Goldman Sachs where he sat among a group of future luminaries, including the likes of Alan Waxman and Julian Salisbury. After Goldman, Goldthorpe was a top executive at Apollo, perhaps the pre-eminent credit-investing firm of the past 40 years.

The Saudi Public Investment Fund spent \$5.5bn on LIV in the past five years, only to place it in Chapter 11 bankruptcy last month. PIF, as the FT has reported, is happy to shut down the circuit, cut its losses and move on.

Yet in the spring, LIV's chief executive, the longtime sports executive Scott O'Neil, was also given the freedom to see if he could quickly cobble together a successor league. Of hundreds of parties approached, including the likes of Apollo, Oaktree and Ares, all passed. Except BC. At a sports industry conference last week in London, Goldthorpe explained why he was optimistic about setting up a successor “LIV 2.0”.

"There's a big opportunity in global golf and there's a space for team golf. There's a lot of ability to create franchise and team value, which is very difficult to do in other parts of the golf ecosystem. If an outside investor wants exposure to golf, this is the way to do it."

I've covered distressed debt and corporate bankruptcy for many years, finding all the drama and the big personalities fascinating, as well as the finance and legal technicalities.

But one other important element of the turnaround world is entrepreneurship. The US Chapter 11 system, unlike some other bankruptcy regimes around the world, encourages reorganisations in order to promote job creation and economic vitality.

Deck is stacked against BC Partners' revival plan but attempt provides evidence that finance nerds can be visionaries too

Plenty of inves-

Plenty of lives-

tors like to trade — buy a distressed bond or loan at 55 cents on the dollar in order to get paid off at, say, 73 cents. But in this instance, LIV and Goldthorpe believe they can build a shining enterprise on top of the wreckage of the old one — and make an even bigger fortune.

BC and Goldthorpe have bristled at the suggestion that they are vulture investors circling LIV to scavenge on an existing \$5bn LIV tax loss. Those losses can shield future profits from tax levies and a LIV 2.0 combined with other sports businesses could create an acquisition conglomerate, a strategy that BC has successfully deployed elsewhere.

Goldthorpe, who is based in New

York, himself has made previous personal investments in professional lacrosse and minor-league hockey teams such as the Binghamton Black Bears and the Baton Rouge Kingfish.

As for the new LIV, BC has said both itself and partners will commit up to \$300mn. The league is supposed to have 17 tournaments in total with 10 “signature” stops around the world. Goldthorpe has insisted there are plenty of co-investors expressing interest.

But what LIV 2.0 does not have so far but needs in the next two weeks, under BC's deal agreement, are player commitments (people close to BC say that after one star joins, others will feel safe to jump in too). After the bad blood of recent years in pro golf, the US PGA Tour and Europe's DP World Tour are naturally playing hardball about allowing their talent to appear on LIV.

For all the talk of growth markets and franchise values, LIV remains a blockbuster bankruptcy and there are several bare-knuckled showdowns yet to play out. BC so far has put in only \$4mn, requiring more players to jump aboard before putting any more money in. Their mooted \$300mn comes with various legal bells and whistles like rights under liquidation to protect its own interests.

At the same time, PIF is looking to craft releases from any liability from both players who are owed \$400mn in contracts as well as trade creditors who separately are reported to have more than \$100mn in claims, setting up a tense bartering.

Is it going to work out for BC? The deck is stacked against it but its mere legwork has proved both entertaining and provided evidence that finance nerds can be, among other things, visionaries too.

sujeet.indap@ft.com

网约车平台陷入困境，司机愤怒情绪高涨

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区域领头羊 GoTo 和 Grab 股价下跌，旨在为乘客提供更优惠方案的举措挤压利润空间

A. ANANTHA LAKSHMI —— 雅加达

OWEN WALKER —— 新加坡

一段时间以来，东南亚第二大网约车公司 GoTo 的股价在印尼股市 50 印尼盾（不足 1 美分的三分之一）的底价上徘徊数月，人们一度认为其股价已跌至谷底。

但本月初底价下调至 $1，揭示了投资者对这家去年营收达 10 亿加元、曾备受赞誉的初创公司的深层失望。GoTo 股价昨日收于 27 印尼盾，较 2022 年超过 390 印尼盾的峰值下跌超过 90%。

GoTo 的困境凸显了东南亚网约车和外卖平台面临的压力，在经历了数月的公开抗议以及国家监管机构日益严格的审查后，这些公司必须为司机提供更好的待遇。

总部位于新加坡的 Grab 是纳斯达克上市的区域网约车市场领导者，拥有数百万名司机，去年营收为 33.7亿美元，其股价在过去 12 个月内下跌了 50%。

根据 Euromonitor International 的数据，Grab 和 GoTo 控制了东南亚约 85% 的网约车市场，且两家公司均已实现盈利。

但分析师表示，在中东战争导致燃料价格飙升的刺激下，印尼、越南、泰国和菲律宾出现的司机抵制情绪，将给他们本已受压的利润空间带来新压力。

巴克莱银行（Barclays）分析师 Jiong Shao 表示：“许多工人的生活现在变得更加艰难……这就是为什么你会看到这种不断升级的抗议活动。”

他表示，东南亚各国政府正在“非常密切地”关注平台公司收取的佣金，“尤其是在经济疲软和燃料价格上涨的整体背景下”。

网约车和配送司机已成为东南亚经济不可或缺的一部分，他们利用出租车、嘟嘟车（tuktuks）和摩托车，在区域内经常拥堵的道路网络中运送乘客、餐食和杂货。

东南亚一家网约车公司的高管表示，该地区出现的动荡比其他市场更多，因为司机的收入较低，且受燃料成本影响更大。

在司机进行了数月的示威后，东南亚最大经济体印尼在 7 月将网约车公司对两轮车司机收取的佣金上限设定为 8%，远低于此前 20% 的上限。

雅加达还准备针对平台收取的食品及其他商品配送费出台监管规定。

在网约车佣金不受监管的越南，许多 Grab 司机曾短暂抵制该应用，原因是公司扣款过多，他们称扣款有时高达乘客支付车费的 50%。

在收到投诉后，越南国家竞争委员会要求 Grab 及其竞争对手披露其定价、费用和扣款政策，并表示他们应确保“平台提供商、司机合作伙伴和消费者之间的透明度、公平性和利益平衡”。

网约车公司将司机定义为“合作伙伴”，而非享有全职员工福利的人员，尽管许多司机经常必须长时间工作才能赚到足够的维持生活费。

越南胡志明市摩托车出租车司机协会副主席 Pham Mi Sen 表示，政府需要采取更多行动。

Pham 本人也是一名 Grab 司机，他表示：“通过在技术上不雇佣、不聘用或不按传统意义支付工资，这些公司逃避了企业主通常对其员工承担的义务。”他认为，如果司机真的是合作伙伴，那么：“我们

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“许多这类工人的生活变得更加艰难……你会看到这类抗议活动在不断增加”

必须拥有像合作伙伴一样的权利，包括协商运费、工作时间、奖金和处罚政策的权利。”

其他国家也誓言将采取监管行动以解决这些担忧。泰国在8月表示，正在准备针对网约车和按需配送服务的佣金制定新规。

随着监管压力增加，Grab 正在实现多元化。上个月，该公司同意以 14.9亿美元收购 Atome Financial 的控股权，大举押注这家“先买后付”服务提供商。该公司今年还首次走出其所在的东南亚本土市场，敲定了收购台湾 Foodpanda 的交易。

Grab 在 2025, 首次实现盈利，并报告称今年 8 月为其表现最强劲的季度，配送、网约车和金融服务的收入均有所增长。

GoTo 已经从其他区域市场撤出，专注于印度尼西亚和新加坡，该公司同样希望其消费贷款业务的增长速度能快于其核心服务。今年第二季度，这家印度尼西亚公司的金融服务利润首次超过了网约车和配送业务的利润。

巴克莱银行（Barclays）的邵（Shao）表示：“如果监管变得过于严格，他们将业务多元化，使其脱离核心的网约车和食品配送业务，并退出某些国家，是非常明智的做法。”

新加坡表示不会监管佣金率或乘客运费。交通部长杰弗里·萧（Jeffrey Siow）7月在新加坡议会表示：“改善点对点司机生计的最佳方式，是帮助他们确保市场是开放且具有竞争力的。”

据知情人士透露，GoTo 和 Grab 多年来一直在就可能的合并进行谈判，但由于印度尼西亚更广泛的政策不确定性，这一计划目前处于停滞状态。

GoTo 和 Grab 虽然已实现盈利，但其股价在今年有所下跌

在被问及费用和佣金政策时，Grab 表示其目标是“维持一个健康的市场，在用户负担能力与为司机合作伙伴提供公平、长期获益机会之间取得平衡”。

Sources: company reports; Bloomberg; FT calculations • GoTo is listed in Indonesia, while Grab is listed on Nasdaq

该公司表示，已向司机提供临时支持，以缓冲油价上涨带来的影响。

GoTo 表示支持印度尼西亚的佣金结构，并正在帮助司机应对高昂的生活成本。

该公司表示：“我们将继续关注司机合作伙伴的福利，将其作为构建一个支持所有利益相关者的平衡且可持续生态系统的一部分。”

公司与市场

[...OMITTED...]

📄 Original Section

‘[It’s] going to allow much more sophisticated behaviours that are at the frontier of . . . the AI field’

bid to keep pace with OpenAI, Anthropic and Google.

"Getting to this point both required a large amount of compute and investment, and a lot of very rigorous scientific work by the group working on it over an extended period of time," said Zuckerberg.

The AI push initially unnerved investors, but the share price has risen almost 10 per cent since early September when Meta launched the Muse personal AI assistant, which uses autonomous bots to carry out everyday tasks, such as ordering groceries and booking travel.

The Muse app quickly became – and remains – the most downloaded on both the Apple and Android app stores in the US. The \$1.8tn company intends to integrate its new model into Muse.

Meta said Muse Wonder outperforms Anthropic's Claude Opus 5.5 and Fable 5.1 and OpenAI's GPT-6 Astra on some technical benchmarks. It said the model can be used to carry out complex tasks from “understanding a lease to making sense of financial or health information”. However, Muse Wonder will also be “closed”, with its best versions sold directly to businesses. That pits it against Anthropic and OpenAI for corporate AI contracts in a serious test of its ambitions.

Zuckerberg signalled further spending as Meta was “already working on the next step up”, adding that its model development would “probably feel like it’ll go quite a bit faster from here”.

However, he also shrugged off mounting fears that the technology was advancing at a rate that will soon surpass human control. In one of many high-profile incidents, more than 1,000 OpenAI autonomous “agents” escaped a test environment in July to hack the start-up Hugging Face.

The Meta chief declined to be drawn on his figure for “P(doom)” — a much-discussed Silicon Valley term to describe the probability that AI will lead to mass destruction. Instead, he argued that responsibility should fall on the individual lab to ensure model safety.

“I’m much closer to the belief that AI is a technology that can be engineered with normal guardrails and built responsibly than the anthropomorphic vision of AI, which is that it is just going to go do its own thing,” he said.

Zuckerberg has previously rejected calls by the heads of AI labs such as Anthropic's Dario Amodei and OpenAI's Sam Altman for an industry-wide "slow-down" in AI development. He also played a key role in crafting US President Donald Trump's White House "Accord on Super Intelligence", setting out principles for self-regulation of the industry, which critics say falls far short of a formal global AI governance regime.

Zuckerberg has instead pushed a vision of “personal superintelligence” for individual consumers, setting Meta apart from OpenAI and Anthropic, which have ambitions to build “AGI” — artificial general intelligence that can surpass humans at most tasks.

“Everyone else is focused on more knowledge work, automation-type cases, and we’re much more focused on personal empowerment,” Zuckerberg said, adding that he wanted to build “things that are good in the world”.

Zuckerberg said he believed Meta needed to be at AI's frontier to deliver this vision, noting a "dichotomy" where models are rapidly advancing in certain academic fields but "still don't have enough common sense to be the ideal personal assistant".

OpenAI last month claimed one of its unreleased internal models had made a mathematical breakthrough, solving one of the greatest problems in the field.

“I don’t know what that means, like, sociologically that you know that we got AI systems that could do these advanced mathematics stuff before we got something that could handle customer support reliably for everyone,” said Zuckerberg. “But I think that there’s obviously a lot more to do there.”

Meta's AI strategy came under scrutiny in April 2025 after its Llama 4 model fell short of expectations, prompting Zuckerberg to spend heavily on talent and infrastructure. He hired Alexandr Wang, founder of data labelling group Scale AI, to head up its “TBD Lab” at the heart of Meta's AI plans.

Muse Wonder also represents a move away from Meta's prioritisation of open-source models, with users or companies needing to pay for access. There would be a tiered offering, Meta said, from 20 cents per million tokens for basic usage, up to \$200 a month for a more powerful premium offering, Muse Wonder Full.

Meta must also overcome concerns about user privacy, with a small number of users accusing Muse of accessing private information without permission. See Lex

Technology. South-east Asia

Grab and GoTo, which runs the Gojek app, control about 85 per cent of the ride-hailing market in south-east Asia — Agoes Rudianto/FT

曼城作弊丑闻恐加深地缘政治泥潭

英国担忧英超对阿布扎比所有权俱乐部的制裁将打击紧张的双边关系

曼城被发现利用与所有者相关的资金增加赞助收入

交易价值（百万英镑）

阿联酋在英投资

部分披露价值的并购交易（十亿美元）

交易状态：已完成待定

委员会发现，曼城的所有者在九年期间通过“虚假”赞助协议投入了 £830mn，约占总资金的 85%

来源：纪律委员会

西蒙·克尔（SIMEON KERR）——爱丁堡

克洛伊·科尼什（CHLOE CORNISH）与

尼古拉斯·帕拉西（NICOLAS PARASIE）——迪拜

去年，阿拉伯联合酋长国突然停止长期以来对在英大学就读的阿联酋学生的资助，理由是这些学生面临伊斯兰激进化的风险，此举令英国外交官感到震惊。

这一决定加剧了人们的担忧，认为英阿关系正在进一步恶化。此前，双方在苏丹内战问题上存在分歧，且一项由阿布扎比支持的收购《电讯报》（The Telegraph）的尝试也以失败告终，关系已然紧张。阿布扎比在英国公司和基础设施中投入的数十亿英镑资金可能因此受到影响。

官员们表示，阿联酋最终在 8 月悄悄恢复了资助，这表明自英国今年提供防御伊朗袭击的援助以来，两国关系有所回暖。

但一个独立委员会的裁决称，由阿联酋副总统谢赫·曼苏尔·本·扎耶德·阿勒纳哈扬（Sheikh Mansour bin Zayed al-Nahyan）拥有的曼城足球俱乐部违反了英超联赛的财务规则，这一结果可能再次使双边关系恶化。

在英超历史上最大的丑闻中，曼城被发现通过“虚假”的商业赞助协议掩盖所有者资金，在九年内人为夸大了 £900mn 以上的财务状况。俱乐部否认该裁决并已提出上诉。

在此之后，英国正试图在公众的愤怒与维持阿联酋投资流入之间寻求平衡，以支持首相安迪·伯纳姆（Andy Burnham）振兴地区经济增长的愿景。与此同时，这个海湾国家在伊朗战争动荡之中，正寻求在加强战略和经济联系的同时保护其声誉。

伯纳姆上个月表示，考虑到曼城所有者在曼彻斯特的巨额投资，如果因为该裁决而失去他们，他将“非常担心”。

一名西方前官员表示，尽管首相的干预在国内受到广泛批评，但他愿意承认阿布扎比在资助该市重建中的作用将“具有重要意义”。

双方官员都淡化了关于这场争端可能会影响阿联酋支持英国重大项目意愿的说法。一名英国官员表示，目前没有收到阿联酋直接或间接削减投资的威胁：“这显然很棘手，但我们已经明确表示，这是一个体育问题，而非政府事务。”另一名官员则表示：“他们是严肃的人，他们理解我们的政治体制。”

尽管如此，白厅（英国政府）仍担心即将出台的英超制裁——可能包括罚款、扣分甚至将曼城从联赛中除名——可能会损害两国关系。

阿布扎比一直有利用商业合同向英国施压的历史，通常是因为英国未能遏制伊斯兰主义（阿联酋坚决反对的一种政治运动）。

在“阿拉伯之春”之后，由于英国拒绝将伊斯兰主义的穆斯林兄弟会认定为破坏稳定的威胁，阿布扎比对此感到愤怒，英国石油公司（BP）曾被暂时排除在陆上石油特许权延期竞标之外。此外，英国也未能达成利润丰厚的喷气式战斗机销售协议。

“对英国体制存在[阿联酋方面的]挫败感，而[曼城]就是最新的症状，”一名英国前官员表示。

在独立55年后，阿联酋与其前英国保护国之间维持着深厚但动荡的关系。阿联酋总统谢赫·穆罕默德·本·扎耶德·阿勒纳哈扬（Sheikh Mohamed bin Zayed al-Nahyan）是曼城

一名球迷在庆祝球队2012年英超夺冠。下方为俱乐部所有者谢赫·曼苏尔·本·扎耶德·阿勒纳哈扬（Sheikh Mansour bin Zayed al-Nahyan，居中），他是阿联酋总统的兄弟。图片来源：Christopher Furlong / Getty Images; Martin Rickett / PA

所有者谢赫·曼苏尔于1979年毕业于桑赫斯特皇家军事学院。

英国动荡的政治局势——过去十年间更换了六位首相——并不利于培养国际关系。

阿联酋的决策者私下抱怨，自从格里·格里姆斯通勋爵（Lord Gerry Grimstone）四年前离开投资国务大臣一职后，英国缺乏一个有效的投资对话窗口。

但基于地缘政治、经济和军事合作的底层伙伴关系，得益于这个由七个酋长国组成的联邦对伦敦的青睐而得到了加强。2013, 时任伦敦市长鲍里斯·约翰逊（Boris Johnson）曾开玩笑说自己是“第八个酋长国”的市长。

英国对入境投资的欢迎态度和稳定的监管环境对阿联酋具有吸引力，因为阿联酋正致力于实现多元化，从石油和天然气转向生命科学、可再生能源和金融服务等领域。

“生意就是生意——如果英国公司和产业保持竞争力且回报可接受，投资就会流入，”前英国中东贸易专员西蒙·佩尼（Simon Penney）表示。“这并不是说可能不会有短期反应，但那仅仅是——短期反应。”

在全球金融危机期间，阿联酋对英国的兴趣有所扩大，由谢赫·曼苏尔领导向巴克莱银行紧急注入了35亿英镑，而他在2008. 早些时候收购了曼城。随后，各种基金扩展到了从港口到光纤网络以及离岸风电场的各个领域。

于2021, 启动的英阿主权投资伙伴关系在4月前已累计获得近£30bn的阿联酋资金分配。尽管关系出现波折，但这已是其五年£10bn目标的三倍。

目前，投资仍在继续。据两名知情人士透露，由包括阿布扎比穆巴达拉投资公司（Mubadala）在内的股东向宽带供应商CityFibre拟注入的£900mn股权资金，并不会因为曼城的指控而面临风险。

“这个问题目前已被隔离处理，”另一位了解阿联酋立场的人士表示，并补充说，如果英国高级政客“随大流”谴责阿联酋，情况可能会发生变化。

他们确实有此前科。2023年，一项由阿布扎比支持的收购《电讯报》（The Telegraph）的投标引发了政客们的激烈批评，促使当时的保守党政府立法禁止外国政府拥有英国报纸。

阿联酋官员认为这些批评已演变为种族主义。

这场风波使两国关系跌至2018, 阿布扎比以间谍罪拘留英国学者马修·海格斯（Matthew Hedges）以来的最低点，当时的军情六处（MI6）负责人对此决定感到“困惑”。海格斯在被阿布扎比法院定罪后获释，他表示在六个月的单独监禁期间遭受了酷刑。

“这就像一场‘蛇梯棋’游戏，”一名西方前官员说。“关系跌落，你只需等待下一个梯子。”

伊朗战争促使关系回暖。英国通过向该地区派遣战斗机和专业顾问，协助阿联酋开展防御无人机和导弹袭击的行动。5月，双方同意加强军事合作、工业协作和能力建设。

前英国官员表示，这场战争推迟了一项更新的投资伙伴关系协议的达成，该协议原定于今年谢赫·穆罕默德对伦敦进行一次重要访问期间签署。

由于曼城可能仍将面临严厉处罚，白厅方面正担忧这场盛大的签署仪式是否还能举行。Lucy Fisher、George Parker、Kieran Smith 和 Jennifer Williams 提供了额外报道。

最新公布的记录显示，安迪·伯纳姆在担任市长的九年任期内曾两次会见曼城主席，与此同时，英国首相正试图结束关于他与该俱乐部阿联酋所有者之间关系的猜测。

英超联赛公布的调查结果结论认为，曼城安排了“虚假”的商业交易并夸大了其收入。

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披露：伯纳姆在担任市长期间曾两次会见俱乐部主席

该俱乐部坚决否认这些调查结果，并已对该决定提出上诉，此举在欧洲足坛引起了剧烈震动。

此次披露是由过去两周关于伯纳姆与曼城及其所有者阿布扎比联合集团（Abu Dhabi United Group）关系的质疑所引发的。此前，一个独立委员会得出结论，该俱乐部在九年期间人为夸大了其财务状况，金额超过 £900mn。

报告并未详细说明讨论了哪些事项。

在担任大曼彻斯特市长期间，伯纳姆于 2021 年在由时任保守党政府下属的国际贸易部组织的一场全球投资峰会上会见了哈尔多恩·穆巴拉克（Khaldoon al-Mubarak）。

他的言论引发了广泛的抵制，保守党将其评价为“脱离实际”。

在工党会议结束时首次被问及该裁决时，伯纳姆表示他会“非常担心失去”该俱乐部的所有者。他感谢阿布扎比联合集团长期以来对曼彻斯特的大量投资，这些投资

两年前，他还曾在一次足球比赛中与穆巴拉克进行了“非正式”会面。

由伯纳姆担任市长并领导的大曼彻斯特联合管理局（GMCA）于昨日披露了这些会面。

零售与消费

总部位于卢森堡的 Delfin 公司，其净资产价值已从 2025年底的近 500亿欧元下降至估计的 400亿欧元。该公司也是意大利一些最大金融机构的主要股东，包括锡耶纳山谷银行（Monte dei Paschi di Siena）和保险公司 Generali。上周，Delfin 支持了 Intesa Sanpaolo 对 MPS 超过 300亿欧元的收购要约，Delfin 是 MPS 的最大股东。

Milleri 与 Del Vecchio 之间的不和在今年夏天公开化，当时 Delfin 的董事会拒绝支持一项超过 100亿欧元的贷款，该贷款本可以让 Del Vecchio 买断其两名兄弟姐妹的股份，从而将其在家族控股公司的持股比例从 12.5 提高到 37.5%。

这场在鲍里斯·约翰逊任首相期间组织的峰会于 2021 年在伦敦科学博物馆举行。

自家长辈于 2022年去世以来，Del Vecchio 的继承人们一直难以兑现其遗产。八位继承人均持有控股公司的等额股份，他们陷入了争端，导致他们无法更改 Delfin 的分红政策，该政策将分红限制在年度利润的 10% 以内。

其中包括数亿英镑的住房、商业计划和科学投资。

当时，政府正在庆祝与阿联酋主权投资者 Mubadala 达成的一项 10亿英镑投资伙伴关系，穆巴拉克同时担任该公司的董事总经理兼首席执行官。

安迪·伯纳姆（右）2019 年在比赛现场与哈尔多恩·穆巴拉克在一起

自由民主党要求公布他与该俱乐部或其所有者的所有会面及接待记录。在昨日下午的一份声明中，大曼彻斯特联合管理局（GMCA）表示：“2021年 10 月，安迪·伯纳姆以大曼彻斯特市长的身份，在由国际贸易部安排的英国政府全球投资峰会上与哈尔多恩·穆巴拉克举行了正式会谈。”

大曼彻斯特联合管理局（GMCA）还确认，于 2017年当选市长的伯纳姆曾在“少数几次”主场比赛中作为俱乐部的嘉宾出席。其中包括前队长

西尔维娅·肖里利·博雷利（SILVIA SCIORILLI BORRELLI）——米兰

📄 Original Section

Shares in regional leaders GoTo and Grab fall as push for better deal for riders squeezes margins

A. ANANTHA LAKSHMI — JAKARTA OWEN WALKER — SINGAPORE

For a while it looked like GoTo could fall no further after the share price of south-east Asia's second-largest ride-hailing company spent months stuck at the Indonesian stock market's floor price of Rp50, less than a third of a US cent.

But the reduction of the floor price at the start of this month to Rp1 has exposed the depths of investor disillusionment in a once-celebrated start-up that generated \$1bn in revenues last year. GoTo shares closed at Rp27 yesterday, down more than 90 per cent from their 2022 peak of more than Rp390.

GoTo's woes highlight the pressure on south-east Asian ride-hailing and food-delivery groups to offer a better deal to their drivers, following months of public protests and increasing scrutiny from national regulators.

The shares of Singapore-based Grab, the Nasdaq-listed regional ride-hailing market leader with millions of drivers and revenues of \$3.37bn last year, have fallen 50 per cent in the past 12 months.

Grab and GoTo control about 85 per cent of the ride-hailing market in southeast Asia, according to Euromonitor International, and both are profitable.

But analysts say the driver backlash in Indonesia, Vietnam, Thailand and the Philippines – sparked by fuel prices sent soaring by the war in the Middle East – will pile new pressure on their already squeezed margins.

“Life is tougher for a lot of these workers now . . . that’s why you start to see this sort of rising level of protests,” said Jiong Shao, an analyst at Barclays.

Governments in south-east Asia were looking at the commissions taken by the platform companies “very very closely, particularly against the overall backdrop of the weakish economies [and] rising fuel prices”, he said.

Ride-hailing and delivery drivers have become an integral part of southeast Asian economies, using taxis, tuktuks and motorcycles to ferry passengers, meals and groceries across the region's often congested road network.

A senior executive at one ride-hailing company in south-east Asia said the region was seeing more unrest than other markets because drivers earned less and were hit harder by fuel costs.

After months of demonstrations by drivers, Indonesia, south-east Asia's largest economy, capped the commissions ride-hailing companies can charge at 8 per cent for two-wheeler drivers in July, far lower than the previous 20 per cent limit.

Jakarta is also preparing to introduce regulations on delivery fees charged by the platforms for deliveries of food and other goods.

In Vietnam, where ride-hailing commissions are not regulated, many Grab drivers briefly boycotted the app over company deductions that they said were sometimes as high as 50 per cent of the fare paid by passengers.

Following the complaints, Vietnam's National Competition Commission ordered Grab and its rivals to disclose their policies on pricing, fees and deductions, saying they should ensure “transparency, fairness and a balance of interests between platform providers, driver partners and consumers”.

The ride-hailing companies classify their drivers as “partners”, not entitled to the benefits of full-time employees, even though many often have to work long hours to earn enough to live on.

Pham Mi Sen, deputy chair of the Ho Chi Minh City motorcycle taxi drivers' association in Vietnam, said that the government needed to do more.

“By not technically employing, hiring or paying them a salary in the traditional sense, these companies evade the obligations that business owners typically owe to their workforce,” said Pham, himself a driver for Grab. If drivers were really partners, he said: “We

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依视路继承人透露药物成瘾困扰，与首席执行官裂痕加深

大曼彻斯特联合当局（GMCA）表示，所有这些款待均已按“惯例方式”申报。

该机构补充称，大曼彻斯特各体育俱乐部的代表在不同时间点也随伯纳姆（Burnham）参加了贸易代表团，其中包括曼城俱乐部在访问中国和日本代表团期间的人员。

依视路陆逊梯卡（EssilorLuxottica）财富的继承人在一次播客采访中引发了意大利的轩然大波。他在采访中承认曾与药物作斗争，声称与超过 2,000 名女性发生过关系，并表示他的亿万富翁父亲给了孩子们一切，唯独没有爱。

内部人士表示，近期的事件让米勒里（Milleri）觉得，在 2022 年其父亲去世后，他引导德尔·韦基奥（Del Vecchio）的努力全部白费了，且不确定自己还能做多少事情来帮助他。

影子体育大臣、国会议员路易·弗伦奇（Louie French）表示，这些披露“远未达到足球迷应得的完全透明度”，并指责伯纳姆利用其前任职权进行“掩盖”。

米勒里还担任 Delfin 的主席，这家家族控股公司持有依视路陆逊梯卡 32% 以上的股份。

“这与我与弗朗切斯科的关系无关……重点是，如果他不能交付成果，如果依视路陆逊梯卡在一年内下跌 50%，这家公司依然冠以德尔·韦基奥之名，我不能就这样袖手旁观，”他补充道。

“关于这些会议、讨论的内容以及可能达成的协议，我们获得的信息极少。如果伯纳姆没有什么可隐瞒的，为什么他如此守口如瓶？”詹妮弗·威廉姆斯（Jennifer Williams）在曼彻斯特报道。

德尔·韦基奥在采访中表示，米勒里不应该为他感到“遗憾”，而“应该对他处理[依视路陆逊梯卡]的方式感到更加紧张”。

2019 年 9 月文森特·孔帕尼（Vincent Kompany）的告别赛上，伯纳姆同样在“看台上非正式地会见了主席”。

雷朋（Ray-Ban）制造商已故创始人莱昂纳多·德尔·韦基奥（Leonardo Del Vecchio） 31 岁的儿子莱昂纳多·玛丽亚·德尔·韦基奥（Leonardo Maria Del Vecchio）昨日在由意大利说唱歌手 Fedez 主持的一档热门播客中发表了上述言论。在节目中，他拒绝被贴上“资源咖”（nepo baby）的标签，称大多数亿万富翁为“白痴”，并提出出售他两艘游艇中的一艘。

在经历了一场激烈的争端后，他威胁要罢免首席执行官弗朗切斯科·米勒里（Francesco Milleri）——后者曾是他的导师，也是他父亲选定的商业继承人。

“我已经退出了公司管理，但并非作为股东退出，”他说。

“现在我享受游艇和金钱，但当你…… 18 岁因为父母不喜欢我的女朋友而被赶出家门时，”德尔·韦基奥说，那段日子很艰难。“我的父亲给了我遗产和金钱，但没有给我爱，”他补充道。

莱昂纳多·玛丽亚·德尔·韦基奥称其亿万富翁父亲给了他一切唯独没有爱，此言论引发轩然大波

德尔·韦基奥表示，有人建议他不要进行这次坦白式采访，但他希望自己的坦诚能帮助其他在成瘾中挣扎的人。他将成为父亲这件事归功于帮助他面对药物使用问题，同时也承认自己依赖苯二氮卓类药物（一类处方镇静剂）。

这些披露发生在德尔·韦基奥辞去在依视路陆逊梯卡的所有执行职务并威胁罢免首席执行官的几周之后。

德尔·韦基奥在 Delfin 之外建立了自己的投资业务，他表示为了资助其创业项目，他已积累了超过 10亿欧元的债务。作为一名偶尔客串的 DJ，他越来越多地出入名流社交圈，并在社交媒体上发布与超模娜奥米·坎贝尔（Naomi Campbell）的合影。

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📄 Original Section

‘Life is tougher for a lot of these workers . . . you start to see this sort of rising level of protests’

must have the rights like partners, the right to negotiate fares, working hours, bonus and penalty policies."

Other countries have also vowed regulatory action to address concerns. Thailand said in August it was preparing new rules on commissions for ride-hailing and on-demand delivery services.

As pressure from more rules grows, Grab is diversifying. Last month it agreed to buy a controlling stake in Atome Financial for \$1.49bn, betting heavily on the provider of “buy now, pay later” services. The company also this year stepped outside its home territory in south-east Asia for the first time by finalising a deal to acquire Foodpanda in Taiwan.

Grab, which became profitable for the first time in 2025, reported its strongest quarter in August this year with growth in revenues from deliveries, ride-hailing and financial services.

GoTo, which has already retreated from other regional markets to focus on Indonesia and Singapore, also hopes that its consumer-lending business will grow faster than its core services. In the second quarter of this year, the Indonesian company's profits from financial services exceeded those from ride-hailing and delivery for the first time.

"It is a very sensible thing for them to diversify their business away from the core ride-hailing, food-delivery business and from certain countries if regulations become too tight," said Barclays' Shao.

Singapore has said it will not regulate commission rates or passenger fares. "The best way to improve the livelihood of point-to-point drivers is to help them ensure that the market is open and contestable," transport minister Jeffrey Siow told Singapore's parliament in July.

GoTo and Grab have been in talks for years over a possible merger, but the idea is on hold because of broader policy uncertainty in Indonesia, according to people familiar with the matter.

GoTo and Grab have become profitable but their shares have fallen this year

Asked about its policy on fees and commissions, Grab said its objective was “to maintain a healthy marketplace that balances user affordability with fair, long-term earning opportunities for our driver-partners”.

Sources: company reports; Bloomberg; FT calculations • GoTo is listed in Indonesia, while Grab is listed on Nasdaq

It said it had provided temporary support to drivers to cushion them from higher fuel prices.

GoTo said it supported the Indonesian commission structure and was helping drivers with the high cost of living.

“We will continue to focus on the welfare of our driver partners as part of building a balanced, sustainable ecosystem that supports all stakeholders,” it said.

COMPANIES & MARKETS

法律公告

遗嘱认证申请通知

兹此通知，关于已故 Cuperman Marcel 于 2023年11月5日签署的遗嘱之遗嘱认证申请。死者生前居住在以色列海法，持有以色列身份证号 015480478，于 2026年4月16日去世。

申请人 Moshe Greenberg 已向海法家庭法院提交了关于已故 Cuperman Marcel 遗嘱的认证申请，案件编号为 47635-07-26，由尊敬的 Hila Gurevitch Ovadia 法官审理。

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申请人法律顾问：

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技术

📄 Original Section

Man City cheating scandal risks deepening geopolitical quagmire

UK frets that Premier League sanctions against Abu Dhabi-owned club will hit strained bilateral ties

Man City found to have augmented sponsor income with owner-linked funds

Deal value (£mn)

UAE investments in the UK

Selected M&A deals with disclosed values (\$bn)

Deals: Completed Pending

The commission found that City's owners ploughed in £830mn, about 85% of total funding, via 'sham' sponsorship deals over a nine-year period

Source: Disciplinary Commission

SIMEON KERR — EDINBURGH

CHLOE CORNISH AND

NICOLAS PARASIE — DUBAI

The United Arab Emirates shocked British diplomats last year by abruptly halting its longstanding sponsorship of Emirati students at UK universities over claims they were at risk of Islamist radicalisation.

The decision fuelled fears that the UK-UAE relationship, already under strain after disagreements over the civil war in Sudan and a failed Abu Dhabi-backed acquisition of The Telegraph newspaper, was unravelling further. Billions of pounds in Abu Dhabi investments in British companies and infrastructure were potentially at stake.

Ultimately the UAE quietly reinstated sponsorship in August, officials said, in a sign of warmer relations since the UK provided defensive assistance against Iranian attacks this year.

But an independent commission's verdict that Manchester City, owned by UAE vice-president Sheikh Mansour bin Zayed al-Nahyan, was guilty of breaches of the Premier League's financial rules risks souring bilateral relations once again.

Man City was found to have artificially inflated its financial position by more than £900mn over nine years, principally through “sham” commercial sponsorship deals to disguise owner funding, in the biggest scandal in Premier League history. The club rejected the ruling and has lodged an appeal.

In the aftermath, the UK is trying to balance public outrage with a desire to keep investment flowing from the UAE to support Prime Minister Andy Burnham's vision of revitalising economic growth in the regions. The Gulf state is seeking to protect its reputation while bolstering strategic and economic ties amid Iran war turmoil.

Burnham said last month he would "be really concerned" to lose Man City's owners as a result of the verdict, given their heavy investments in Manchester.

While the prime minister's intervention was widely criticised at home, his willingness to recognise Abu Dhabi's role in financing the city's regeneration would "count for a lot", said a former western official.

Officials on both sides have played down suggestions that the row could hit the UAE's willingness to back big UK projects. One UK official said there had been no direct or indirect Emirati threats to scale down investments: "It is obviously tricky but we have made it clear that this is a sporting matter, not one for government." Another said: "They are serious people and they understand our political system."

But Whitehall is nonetheless worried that forthcoming Premier League sanctions – which could include fines, points deductions and even Man City's expulsion from the competition – could impair relations.

Abu Dhabi has a history of using commercial contracts to exert pressure on the UK, often over claims that it fails to rein in Islamism, a political movement to which the UAE is implacably opposed.

In the wake of the Arab Spring, when Abu Dhabi was furious about the UK's refusal to recognise the Islamist Muslim Brotherhood as a destabilising threat, BP was temporarily excluded from bidding for an extension to onshore oil concessions. The UK also failed to secure lucrative jet-fighter sales.

"There is [Emirati] frustration with the UK system, of which [Man City] is the latest symptom," said one former UK official.

Fifty-five years on from independence, the UAE has a deep but volatile relationship with its former British protector. Its president, Sheikh Mohamed bin Zayed al-Nahyan, brother to Man

A fan celebrates the team's 2012 Premier League win. Below, the club's owner, Sheikh Mansour bin Zayed al-Nahyan, centre, who is a brother of the UAE's president Christopher Furlong/Getty Images; Martin Rickett/PA

City owner Sheikh Mansour, graduated from Sandhurst military academy in 1979.

The UK's combustible politics – which have resulted in six prime ministers in the past decade – have not been conducive to nurturing international relationships.

Emirati decision makers have privately complained about Britain's lack of an effective investment interlocutor since Lord Gerry Grimstone left his post as minister of state for investment four years ago.

But the underlying partnership – founded on geopolitical, economic and military co-operation – is bolstered by an affinity for London among the federation of seven emirates. In 2013, then London mayor Boris Johnson joked he was mayor of the “eighth emirate”.

The UK's welcoming attitude to inward investment and stable regulation is attractive to the UAE, as it diversifies away from oil and gas into sectors including life sciences, renewable energy and financial services.

“Business is business – if UK companies and industries remain competitive and the returns are acceptable, investment will flow,” said Simon Penney, a former UK trade commissioner for the Middle East. “That’s not to say there might not be a short-term reaction, but it will be just that – short term.”

Emirati interest in the UK expanded during the global financial crisis with a £3.5bn emergency injection into Barclays led by Sheikh Mansour, who had acquired Man City earlier in 2008. Various funds then spread into everything from ports to fibre-optic networks and offshore wind farms.

The UK-UAE sovereign investment partnership, launched in 2021, had clocked up nearly £30bn of Emirati allocations by April. Despite wrinkles in relations, that was triple its target of £10bn over five years.

For now, investment is continuing. A proposed £900mn equity injection into broadband provider CityFibre by its shareholders, including Abu Dhabi's Mubadala, is not at risk as a result of the Man City charges, according to two people familiar with the matter.

"The issue has been compartmentalised for now," said another person briefed on the UAE's position, who added that could change if senior UK politicians "jump on the bandwagon" and denounce the UAE.

They have form. An Abu Dhabi-'It's like a game of snakes and ladders. The [UK-UAE] relationship tumbles and you just have to wait for the next ladder'

backed bid to buy The Telegraph in 2023 triggered sharp criticism from politicians, prompting the then Conservative government to legislate against foreign state ownership of British newspapers.

UAE officials felt the criticism veered into racism.

The furore brought relations to their lowest point since Abu Dhabi detained British academic Matthew Hedges on spying charges in 2018, a decision that “perplexed” the then MI6 chief. Hedges, who said he was tortured during his six months in solitary confinement, was released after being convicted by an Abu Dhabi court.

"It's like a game of snakes and ladders," a former western official said. "The relationship tumbles and you just have to wait for the next ladder."

The Iran war prompted an upturn in relations. The UK assisted the UAE's defensive operations against drone and missile attacks by sending fighter jets and specialist advisers to the region. In May, they agreed to enhance military co-operation, industrial collaboration and capability development.

Former UK officials said the war delayed the agreement of a renewed investment partnership, which was due to be signed during a marquee visit by Sheikh Mohamed to London this year.

With potentially severe punishments still to be handed down to Man City, Whitehall is left to fret over whether the grand signing will take place at all. Additional reporting by Lucy Fisher, George Parker, Kieran Smith and Jennifer Williams

Andy Burnham met the chair of Manchester City twice during his nine-year stint as mayor, newly published records show, as the UK prime minister seeks to end speculation about his connections to its Emirati owners.

City had arranged “sham” commercial deals and overstated its income, the findings, published by the Premier League, concluded.

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纳拉扬称 AI 需要工业革命级别的法律

部长拟定强制性安全报告与监测计划

克里斯·史密斯 (CHRIS SMYTH) 和 GMCA 露西·费舍尔 (LUCY FISHER)

伦敦

一名政府部长表示，人工智能（AI）必须面对那种曾驯服早期工业革命中“恐怖状况”的监管，并警告称，英国的网络防御遭到恶意代理攻击“即便不是必然，也极有可能”发生。

卡尼什卡·纳拉扬 (Kanishka Narayan) 昨日呼吁前沿公司，如果“无法充分控制风险”，则不要发布模型，并表示英国需要建立“基础级别的国家主权基础设施”，以便国家能够对新兴技术拥有一定的控制权。

这位部长正在拟定针对前沿的强制性安全报告和监测计划，以及可能要求在模型发布前提供监测的规定。

他还确认，作为前沿模型测试的全球领导者，英国AI安全研究所（Aisi）将再次获得美国团体开发模型的发布前访问权限。此前，《金融时报》披露，在特朗普政府的压力下，Anthropic 拒绝了该研究所在前沿模型测试方面的请求。

纳拉扬将 GMCA 的出现比作 19 世纪工业革命的开始，他表示，工业革命导致了“非常不公平”的结果，需要数十年的立法才能加以驯服。

“早期的工厂法之所以重要，是因为议会准备建立能够执行这些法律的机构。我们今天的责任也一样，”他说道，并描述了 1800 年代初儿童被“送去在恐怖的条件下工作”的情况。

纳拉扬誓言将在“必要时进行立法”，并补充说，他理解人们对 GMCA 影响就业的“焦虑”，且随着技术变得“能力更强，英国必须在保护其人民方面变得更有能力”。

在近期出现几起公司承认其技术失控的高知名度案例后，强制报告代理恶意行为事件的规定已被列入拟定监管方案之中。

今年夏天，一个 OpenAI 代理黑入了一个澳大利亚医疗服务网站，但该事件直到上个月才公开。该国总理安东尼·阿尔巴尼斯 (Anthony Albanese) 表示，OpenAI 通知其政府的时间“太长了”。

在此之前还发生过一起事件，OpenAI 代理秘密突破测试环境并黑入了 GMCA 初创公司 Hugging Face。

纳拉扬警告称，我们的网络防御“极有可能，即便不是必然，会被以类似方式突破”，并补充道：“ 几乎肯定会使网络入侵的某些环节变得更有效、更高效。”

纳拉扬誓言采取行动应对这些威胁，包括利用模型来发现政府技术中的 1,000 个漏洞。他表示，他并未对 GMCA 的生存风险感到“自满”，但认为“我看到的迫在眉睫的风险更多集中在实际的网络安全和生物安全风险上”。

虽然政府也在考虑通过立法强制公司向英国AI安全研究所（Aisi）提供最新模型的发布前访问权限，但部长们担心此举可能会激怒唐纳德·特朗普，导致其拒绝允许科技团体分享其模型。

参见 Lex

收购退出

PizzaExpress、

Morrisons

和 Itsu 挂牌出售

随着英国消费领域的交易回暖，寿司集团 Itsu 只是被私募股权基金挂牌出售的知名高街品牌之一 —— Marcin Rogozinski / Alamy

随着消费行业的交易回暖，私募股权集团正寻求剥离一些英国最知名的高街品牌，包括连锁餐厅 PizzaExpress、Morrisons 超市和寿司集团 Itsu。

上周，美国收购集团 Sycamore 达成了一项 89亿美元的交易，将健康与美容连锁店 Boots 出售给加拿大的亿万富翁韦斯顿（Weston）家族。银行家表示，此次出售可能预示着英国商业街将出现进一步的交易活动。

近几周，《金融时报》还报道称，圣塞本斯（Sainsbury's）曾与由私募股权持有的竞争对手 Morrisons 进行过收购谈判，且 PizzaExpress 已接触银行家以探讨出售事宜。

其他正在探讨交易的私募股权支持的英国连锁店包括奢侈健身房集团 Third Space 和 Itsu，而书店 Waterstones 则在考虑首次公开募股（IPO）。

Poundland 的所有者也正寻求出售这家陷入困境的英国折扣连锁店。

“我们现在看到的这种活跃程度是久违的，并且预计将持续到 2027 年，”法国巴黎银行（BNP Paribas）的消费与零售银行家 Thomas Christl 表示。

尽管英国经济和消费者信心依然低迷，但市场的稳定以及私募股权集团需要剥离陈旧投资的需求，正促使投资者探索此类资产的出售。

根据 Dealogic 的数据，今年英国零售目标交易的总价值在 54 笔交易中已突破 101亿美元，高于去年的近 50亿美元。

“活动水平确实比一段时间以来都要高。还需要观察还会宣布多少笔交易，”摩根士丹利（Morgan Stanley）欧洲、中东和非洲地区零售投资银行主管 Shirav Patel 表示，他为 Boots 的加拿大买家提供了咨询。

目前正在出售的许多资产是在新冠疫情期间购入的，当时封锁改变了消费者行为，而较低的利率导致了收购潮的激增。

在随后的几年里，私募股权投资者在寻找增长更快或更稳定的资产时，对消费类业务的热情有所冷却。

“这完全取决于这些企业的表现。人们在面对其中一些资产时会问的大问题是，利润的可持续性如何，以及增长将从何而来，”罗斯柴尔德公司（Rothschild & Co）零售、休闲与体育全球主管 Majid Ishaq 表示，他为 Boots 的出售提供了咨询。

投资者和银行家表示，拥有不同扩张选择的强品牌对追求者最具吸引力。

英国的宏观经济前景一直较为低迷。尽管 9 月份消费者信心达到了两年高点，根据 GfK 消费者信心指数，上升一个点至 minus 13，但整体情绪依然负面，高通胀和低增长拖累了英国经济。

“没有人看好英国消费市场，”一位驻伦敦的私募股权投资者补充道。

“这种动态极具挑战性。” Jason Ma 和 Ivan Levingston

由……呈献

合作伙伴

皮肤，光影

生物技术如何重新定义奢侈护肤与光防御

24 November 2026 / 18:30 – 21:00 GMT / 线下 / 晚餐俱乐部

诚邀您与来自皮肤病学、生物技术、奢侈品和健康领域的领导者一起，就皮肤健康的未来进行一次亲密对话。当晚将探讨光保护、肽科学和细胞修复的进展如何重塑护肤、美黑和预防性健康。

演讲嘉宾包括：

Rose Ferguson

营养学家及

功能医学从业者

Dr Anjali Mahto

美容顾问

皮肤科医生，

Self London

Dr Tamsin Lewis

创始人及

长寿与

情感健康

医生，Wellgevity

Dr Philippe Wolgen

首席执行官，MBA, MD,

Clinuvel

Rebecca Newman

特约编辑

（调查健康），

金融时报，HTSI

能源。经济议程

📄 Original Section

Disclosures Burnham met club's chair twice during stint as mayor

The club vehemently denies the findings and has appealed against the decision, which has sent shockwaves through European football.

discussed. The disclosure has been prompted by a fortnight of questions about Burnham's relationship with Manchester City and its owners, Abu Dhabi United Group, after an independent commission concluded the club had artificially inflated its financial position by more than £900mn over a nine-year period.

It did not detail what matters were

While mayor of Greater Manchester, Burnham met with Khaldoon al-Mubarak in 2021 at a global investment summit organised by the Department for International Trade under the then Conservative government.

His remarks prompted a widespread backlash with the Conservatives branding them "out of touch".

When first asked about the ruling at the close of the Labour Party conference, Burnham said he would be “really concerned to lose” the club’s owners. He thanked ADUG for its significant investment in Manchester over an extended period, which has

He also met Mubarak "informally" at a football match two years earlier.

The Greater Manchester Combined Authority, which was chaired by Burnham as mayor, disclosed the meetings yesterday.

Retail & consumer

Luxembourg-based Delfin, whose net asset value has fallen to an estimated €40bn from close to €50bn at the end of 2025, is also a major shareholder in some of Italy's largest financial institutions, including Monte dei Paschi di Siena and insurer Generali. Last week, Delfin backed Intesa Sanpaolo's more than €30bn takeover bid for MPS, in which it is the largest shareholder.

The feud between Milleri and Del Vecchio spilled into the open this summer when Delfin's board refused to back a loan of more than €10bn that would have allowed Del Vecchio to buy out two of his siblings, increasing his ownership of the family holding company from 12.5 to 37.5 per cent.

The summit, organised under Boris Johnson's premiership, took place at London's Science Museum in 2021.

The Del Vecchio heirs have struggled to cash in their inheritance since the patriarch's death in 2022. The eight heirs, who own equal stakes in the holding company, have been embroiled in disputes that have prevented them from changing Delfin's dividend policy, which limits distributions to 10 per cent of its annual profits.

included hundreds of millions of pounds in housing, commercial schemes and science investment.

At the time, the government was celebrating a £1bn investment partnership with Mubadala, the UAE's sovereign investor, of which Mubarak is also managing director and CEO.

Andy Burnham, right, at a match with Khaldoon al-Mubarak in 2019

The Liberal Democrats demanded that all his meetings and hospitality with the club or its owners must be published. In a statement yesterday afternoon, the GMCA said: "In October 2021, Andy Burnham, in his role as Mayor of Greater Manchester, had a formal meeting with Khaldoon al-Mubarak at the UK Government's Global Investment Summit arranged by the Department for International Trade."

The GMCA also confirmed that Burnham, who was elected as mayor in 2017, had been a guest of the club at home matches on a “small number” of occasions. That included former captain

SILVIA SCIORILLI BORRELLI — MILAN

阿美公司权衡沙特阿拉伯过剩天然气的处理方案

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📄 Original Section

Essilor heir reveals drug struggles as bitter rift with CEO grows

All of that hospitality had been declared "in the usual way", the GMCA said.

Representatives of Greater Manchester's various sports clubs also joined trade delegations with Burnham at various points, it added, including staff from City during delegations to China and Japan.

An heir to the EssilorLuxottica fortune gave a podcast interview sparking uproar in Italy, in which he acknowledged struggles with drugs, claimed to have slept with more than 2,000 women and said his billionaire father gave his children everything but love.

Insiders said recent events had left Milleri feeling his efforts to guide Del Vecchio after his father's death in 2022 had been in vain and uncertain how much more he could do to help him.

MP Louie French, shadow sports minister, said the disclosures were “far from the full transparency that football fans deserve” and accused Burnham of “hiding” behind his former authority.

Milleri also chairs Delfin, the family holding company that owns more than 32 per cent of EssilorLuxottica.

"This isn't about my relationship with Francesco . . . The point is that if he doesn't deliver results, if EssilorLuxottica is down 50 per cent in one year, that company still bears the Del Vecchio name and I can't just stand by and watch," he added.

"We have been given precious little information about these meetings, what was discussed and what may have been agreed. If Burnham has nothing to hide, why is he being so tight-lipped?" Jennifer Williams in Manchester

Del Vecchio said in the interview that Milleri should not “be sorry” about him, but “should be more nervous about his handling [of EssilorLuxottica]”.

Vincent Kompany's testimonial in September 2019 where Burnham also "met the chairman informally in the stands".

Leonardo Maria Del Vecchio, the 31-year-old son of the Ray-Ban maker's late founder, Leonardo Del Vecchio, made the remarks yesterday on a popular podcast hosted by Italian rapper Fedez, where he rejected the “nepo baby” label, branded most billionaires “idiots” and offered to sell one of his two yachts.

chief executive Francesco Milleri, his former mentor and his father's chosen business heir, following a bitter feud.

"I've taken a step back from the company, but not as a shareholder," he said.

"Now I enjoy the yachts, the money, but when you are . . . 18 and you get kicked out of your house because my parents didn't like my girlfriend," it was tough, Del Vecchio said. "My father gave me his legacy, the money but not love," he added.

Leonardo Maria Del Vecchio caused uproar by saying his billionaire father gave him everything but love

Del Vecchio said he had been advised against the tell-all interview but hoped his candour would help others struggling with addiction. He credited fatherhood with helping him confront his drug use, while acknowledging dependence on benzodiazepines, a class of prescription sedatives.

The revelations came weeks after Del Vecchio quit his executive roles at EssilorLuxottica and threatened to oust

Del Vecchio, who has built his own investment business outside Delfin, said he had amassed more than €1bn in debt to finance his ventures. An occasional DJ, he has increasingly embraced the celebrity circuit, posting photographs with supermodel Naomi Campbell on social media.

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国有能源集团考虑液化天然气出口以资助扩张并挖掘价值

作者：VERITY RATCLIFFE（伦敦）、NICOLAS PARASIE（迪拜）

当沙特阿美（Saudi Aramco）在 2020 年开始开发巨大的贾富拉（Jafurah）气田时，这让该国首次出现了成为天然气出口国的可能性。

尽管在石油贸易中占据主导地位，但该王国此前并未向海外销售任何天然气，而国内需求则超过了供应。这项 1000亿美元贾富拉项目将从这两个方面改变沙特的天然气工业。

但六年过去了，阿美公司仍在苦于思考如何处理其将要生产的所有天然气。

这家国有公司还在权衡相互冲突的优先事项，因为在中东战争搅动全球能源市场的与此同时，它正寻求最大化其运营价值，以资助自身的扩张计划以及该王国雄心勃勃的经济议程。

贾富拉项目于去年开始生产，该项目的第二阶段预计将于 2030 年前启动。阿美公司表示，从 2021 年到本十年末，其天然气产量将增长约 80%。

大部分天然气在国内已有成熟市场。沙特阿拉伯正在将其化石燃料电厂转换为天然气电厂，从而使其能够出口更多生产的石油并获取收入。

伍德麦肯兹（Wood Mackenzie）估计，沙特阿拉伯每年 1800 亿立方米的天然气产量，在满足国内需求后，每年可能仍有高达 500 亿立方米的盈余。

沙特阿拉伯在人工智能和数据中心方面的推进应该能吸收部分盈余，但在未来几年，仍将有大量天然气可用。

伍德麦肯兹驻迪拜的企业研究总监内万·博鲁杰迪（Neivan Boroujerdi）表示，阿美公司很可能需要为其产品寻找外国买家。

他说：“如果他们接近生产目标，他们将需要其他需求来源。如果国内无法实现，那么他们将有盈余的天然气可用于出口。”

其中一个选择是沙特阿拉伯将自己打造成为液化天然气（LNG）出口国，潜在地与阿拉伯联合酋长国和阿曼等国竞争，尽管这将要求阿美公司建设液化设施。

据一名阿美公司员工透露，去年曾提出建设一个利用贾富拉第二阶段天然气的液化天然气出口终端计划，但目前已被搁置；该员工补充说，利雅得希望首先专注于满足国内需求。阿美公司出口天然气的决定将对该行业产生巨大影响。

该公司已经在寻找资助其扩张并从现有资产中挖掘更多价值的新方法。其中一个选择是重塑天然气业务本身。

据知情人士透露，阿美公司正准备将该业务剥离成一家独立公司，并可能最终上市，这一计划被命名为“伽马项目”（Project Gamma）。

这将标志着该国近期将业务股份出售给私人投资者的重点发生了转变。2021 年，该公司将其石油管道资产独立出来，并向包括 EIG 和 Mubadala 在内的投资者团体出售了 49% 的股份。次年，该公司完成了其天然气管道的租赁回租交易。

据知情人士透露，阿美公司还寻求从包括房地产、电力、水务和石油存储在内的其他资产中挖掘更大价值，因为它试图将其核心原油生产和加工业务之外的业务货币化。

一位曾为阿美公司工作的顾问表示：“总体主题是优化资本。”

尽管美国和以色列针对伊朗的战争导致原油价格飙升并带来了巨额利润，且沙特阿拉伯也是受冲突影响最严重的国家之一，但阿美公司最大化利用其资产负债表的举措仍在继续。

“沙特阿美不需要钱，是沙特人需要钱，”该顾问表示。

利雅得旨在实现经济多元化并吸引投资进入非碳氢工业的雄心计划

在沙特阿美开始开发上方所示的巨额 1000亿美元贾富拉（Jafurah）气田六年之后，这家总部位于利雅得（见下方左侧）的集团仍在苦于思考如何处理其将要生产的所有天然气

Fayez Nureldine / AFP via Getty Images

“沙特阿美不需要钱，是沙特人需要钱”

已使其宣布出售从旅游巨型项目到航空枢纽以及人工智能等一系列领域的股份。

“王国正在采取战略举措，朝着用其他技术补充石油和天然气的方向前进，”独立顾问、前沙特阿美高管萨达德·阿尔-胡赛尼（Sadad Al Husseini）表示。他补充说，这要求沙特阿美“利用现有资源做更多事情”。

一些行业观察人士质疑沙特阿美是否真的能将其天然气业务上市。据两名知情人士透露，沙特阿美的国际液化天然气（LNG）资产将不会被纳入任何新公司；他们补充说，在没有建设液化天然气工厂的实际计划的情况下，进行首次公开募股（IPO）几乎没有理由。

据接近该公司的人士透露，沙特阿美的国内业务以政府设定的固定价格销售天然气，同样能产生稳定的回报，这可能更适合其此前采用的租赁回租模式。

在王国的能源设施面临来自伊朗进一步袭击威胁的情况下，启动 IPO 将会很棘手。一名员工表示，贾富拉气田的全部潜力也尚未确定。

沙特阿美拒绝就其天然气计划发表评论。

然而，从其天然气业务中榨取价值的压力意味着这个想法不会完全消失。

“沙特阿美预计将维持石油产能和出口韧性，加速天然气增长，建立国际液化天然气地位，并支持沙特阿拉伯更广泛的经济和能源目标，”博鲁杰迪（Boroujerdi）表示。

“在如此剧烈波动的背景下，在资助不断增长的股息的同时实现所有这些目标，正变得越来越具有挑战性。”

我们的全球团队为您提供 24 小时全天候的足以影响市场的新闻和观点 ft.com / markets

大宗商品

特朗普发布“能源停火”消息后柴油价格下跌

威廉·桑德伦 (WILLIAM SANDLUND) —— 香港

维里蒂·拉特克利夫 (VERITY RATCLIFFE) —— 伦敦

在唐纳德·特朗普声称俄罗斯和乌克兰已达成“能源停火”后，柴油价格在昨日下跌，但分析人士警告称，任何协议都不太可能为全球燃料成本带来持久的缓解。

欧洲柴油价格在昨日上午下跌 5% 至 $1,410 每吨，随后回升至约 $1,450。国际基准布伦特原油在早盘交易中下跌，但随后上涨 2.2%，至每桶 $107。

这些波动发生在周日美国总统表示乌克兰战争中出现了“能源停火”之后。

“立即生效，俄罗斯与乌克兰之间的战争进入能源停火状态，”特朗普在 Truth Social 上发帖称，“双方均已同意。不要破坏它！”

然而，此类停火是否会生效尚不明确。

乌克兰总统泽连斯基周日表示，“重要的是[它]能成为现实”，并补充说俄罗斯军队在该日晚上袭击了哈尔科夫的一座发电厂。

目前尚不清楚俄罗斯是否同意了该协议。此前，美国总统周五宣布与莫斯科达成一项协议，将俄罗斯柴油投放至全球市场，因为

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📄 Original Section

Narayan says AI needs Industrial Revolution laws

Minister draws up plans for compulsory safety reporting and monitoring

CHRIS SMYTH AND LUCY FISHER

LONDON

AI must face the kind of regulation that tamed the “horrifying conditions” of the early Industrial Revolution, a government minister has said, as he warned that a rogue agent breach of the UK’s cyber defences was “likely if not inevitable”.

Kanishka Narayan yesterday called for frontier AI companies not to release models “if you can’t adequately control the risks” and said that the UK needed to build a “table-stakes level of sovereign infrastructure” to give the state some control over emerging technology.

The AI minister is drawing up plans for compulsory safety reporting and monitoring of frontier AI, as well as a potential requirement to make models available for pre-release monitoring.

He also confirmed that Britain's AI Security Institute (Aisi), the global leader in the testing of frontier AI models, would once again gain pre-release access to models developed by US groups, after the FT revealed that Anthropic had declined a request from the institute in the testing of frontier models following pressure from the Trump administration.

Narayan compared the emergence of AI to the start of the Industrial Revolution in the 19th century, which he said led to “very unfair” outcomes that required decades of legislation to tame.

“Early factory laws mattered because parliament was prepared to establish institutions capable of enforcing them. Our responsibility today is no different,” he said, describing how children in the early 1800s were “sent to work in horrifying conditions”.

Narayan vowed to “legislate wherever necessary”, adding that he understood “anxiety” about the impact of AI on jobs and that as the technology became “more capable, Britain must become more capable at protecting its people”.

Mandatory reporting of incidents when AI agents behave maliciously is among regulations being drawn up after recent high-profile cases in which companies acknowledged that their technology had gone rogue.

This summer an OpenAI agent hacked an Australian health-service website, although the incident did not become public until last month. Anthony Albanese, the country's prime minister, said that OpenAI took "way too long" to inform his government.

It followed a previous incident where OpenAI agents surreptitiously broke out of a testing environment and hacked the AI start-up Hugging Face.

Narayan warned that it was “likely, if not inevitable, that our own cyber defences will be breached” in a similar way, adding: “AI will almost certainly make elements of cyber intrusion more effective, more efficient.”

Narayan vowed action to fight these threats, including using AI models to spot 1,000 weaknesses in government technology. He said he was not “complacent” about existential risks from AI, but said “the risks that I see imminently are much more focused on practical cyber security, biosecurity risks”.

While legislation that would force companies to give the Aisi pre-release access to their newest models is also being considered, ministers are concerned the move might provoke Donald Trump into refusing tech groups permission to share their models.

See Lex

Buyout exits

PizzaExpress,

Morrisons

and Itsu put

up for sale

Sushi group Itsu is just one of the well-known high street brands being put up for sale by private equity as dealmaking returns in the UK's consumer sector — Marcin Rogozinski/Alamy

Private equity groups are seeking to offload some of the UK's best-known high street brands, including restaurant chain PizzaExpress, the Morrisons supermarket and Itsu, the sushi group, as dealmaking returns in consumer industries.

Last week the US buyout group Sycamore struck an \$8.9bn deal to sell health and beauty chain Boots to Canada's billionaire Weston family, a sale that bankers said could herald further dealmaking activity on the UK high street.

In recent weeks, the FT also reported that Sainsbury's had held takeover talks with its private equity-owned rival Morrisons and that PizzaExpress had tapped bankers to explore a sale.

Other private equity-backed UK chains exploring transactions include luxury gym group Third Space and Itsu, while bookshop Waterstones has been eyeing an initial public offering.

The owners of Poundland are also seeking to sell the struggling British discount chain.

"We're now seeing the kind of activity that we haven't seen in a while and that is set to continue into 2027,"

said Thomas Christl, a consumer and retail banker at BNP Paribas.

While the British economy and consumer sentiment remain tepid, a stabilising market coupled with private equity groups' need to offload ageing investments is driving investors to explore sales of such assets.

The total value of UK target retail dealmaking has topped \$10.1bn this year across 54 transactions, according to data from Dealogic, up from nearly \$5bn across all of last year.

"The level of activity is certainly higher than we've seen it for a while. It remains to be seen how many more transactions are announced," said Shirav Patel, Morgan Stanley Europe, the Middle East and Africa head of retail investment banking, who advised the Canadian buyers of Boots.

Many of the assets now being sold were bought around the time of the Covid-19 pandemic, when lockdowns altered consumer behaviour and lower interest rates led to a surge in takeovers.

In the ensuing years private equity investors have cooled on consumer businesses as they search for fastergrowing or more stable assets.

“It all depends on how those businesses are performing. The big question people will be asking themselves on some of these assets is how sustainable the profits are and where the growth will come from,” said Majid Ishaq, global head of retail, leisure and sport at Rothschild & Co, who advised Boots on its sale.

Investors and bankers said that strong brands with different options for expansion were the most attractive to suitors.

The UK's macroeconomic outlook has been subdued. Although consumer confidence hit a two-year high in September, climbing one point to minus 13 according to the GfK's consumer confidence index, the overall mood is negative, with high inflation and low growth weighing on Britain's economy.

“Nobody is bullish on UK consumer,” added one London-based private equity investor.

"The dynamic has been incredibly challenging." Jason Ma and Ivan Levingston

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“一夜之间的袭击使停火变得愈发不确定” 德意志银行 Jim Reid

华盛顿旨在 11 月的中期选举前遏制燃料价格。

交易员对这一举动反应平淡，欧洲柴油价格在周五收盘时仅下跌 1.7%。美国价格在周五宣布消息后下跌 3%，但昨日基本持平，纽约交割的批发柴油价格上涨 0.1%，至每加仑 $4.75。

价格仍处于战争时期的历史高位，美国柴油价格比战前水平高出约 75%，欧洲柴油价格高出约 95%。

分析人士表示，俄罗斯承诺的柴油出口规模较小，这意味着短期内对全球供应的影响微乎其微。

随着时间的推移，增加出口的可能性（正如特朗普所要求的那样）取决于俄罗斯修复被乌克兰袭击的炼油厂的能力。

德意志银行全球宏观研究主管 Jim Reid 表示，虽然俄罗斯柴油回归全球市场将有助于抑制价格，但“一夜之间的袭击使停火变得愈发不确定，并凸显了华盛顿与基辅之间的紧张关系”。

《金融时报》周日报道，特朗普政府已威胁要停止向乌克兰提供武器的采购系统，以向基辅施压，要求其停止对俄罗斯能源基础设施的深度打击。

在高油价和高柴油价格的影响下，特朗普及其共和党在美国中期选举前的支持率正受到冲击。

参阅 FT 观点与评论

资产管理

机构投资者通过转向直接交易挑战私募股权基金模式

SUN YU — 纽约

机构投资者正越来越多地与私募股权公司共同直接投资于企业，而非将资金投入到由资产管理人员决定投资方向的基金中。

由于投资者在投资组合公司出售的实现回报长期匮乏的情况下，寻求对其私募市场投资组合拥有更多控制权，这种向所谓“共同投资”（co-investments）的转变正在加速。共同投资具有费用较低且灵活性更高的特点。

根据 S&P Global Market Intelligence 的数据，今年上半年，私募股权共同投资的价值同比增长一倍多，达到创纪录的 1980亿美元。同期，私募股权整体募资额增长 5%，至 3120亿美元，但仍低于 2021 年的峰值。

“这正日益成为机构投资者的操作手册的一部分，”总部位于纽约的私募股权基金 Summation Capital 的创始人 Roger Vincent 表示，该公司已进行了约 12 笔共同投资。

一些投资者通过共同投资获得了超额回报，这使他们能够增加对快速增长的初创企业的风险敞口。北卡罗来纳州投资管理局（North Carolina Investment Authority）今年早些时候与 Baillie Gifford 共同向 Anthropic 投资了 $200mn；如果这家 AI 初创公司以 $2tn 的估值上市，这笔交易可能会带来五倍的回报。

该基金还 2 次共同投资于涉及美国天然气生产商 Ascent Resources 的延续基金（continuation vehicles）。今年 3 月的最新一笔投资在六个月内已增值约 20%。

“我们的共同投资份额正在大幅上升，”北卡罗来纳州州司库兼北卡罗来纳州投资管理局主席 Brad Briner 表示。该局管理着该州规模为 1500亿美元的退休系统。他补充说，未来其计划的私募股权部署中，约有一半将用于共同投资。

在传统的私募股权基金中，投资者通常支付 $2 的管理费和投资利润的 20% 作为业绩分成（carried interest），而共同投资几乎没有或完全没有管理费和业绩分成。

较低的费用负担可能会转化为更高的回报。规模为 860亿美元的宾夕法尼亚州公立学校雇员退休系统（PSERS）估计，由于在管理费和业绩分成方面的节省，其共同投资的表现比其整体私募股权投资组合高出约 5 到 6 个百分点。PSERS 首席投资官 Benjamin Cotton 表示：“这种优势直接体现在最终收益上。”

与由管理人员做出投资和资本调用决定的传统私募股权基金相比，共同投资还让投资者在何时以及何地部署资本方面拥有更大的控制权。

规模为 890亿美元的阿拉斯加永久基金公司（Alaska Permanent Fund Corporation）副首席投资官 Allen Waldrop 表示，共同投资占其年度私募股权部署额高达三分之一，并被“机会主义地”用于增加对特定行业（如能源和金融服务）或特定地理区域的风险敞口，以及控制投资节奏。

Waldrop 表示：“如果我们认为有很多有趣的机会，那么通过这种方式投入资本，比等待合适的基金来投入资金要更容易。”

私募股权募资的低迷也推动了共同投资的增长，因为管理人员（尤其是小型公司的管理人员）为投资者提供更多机会以加强关系，或为超出其基金容量的交易筹集资金。Partners Capital 的共同投资主管 Jennifer Fox Bensimon 表示：“在市场交易数量减少的情况下，出现了更多的共同投资。”

共同投资在宾夕法尼亚州表现出色 —— Bastiaan Slabbers / Sipa USA / Alamy

尽管如此，共同投资并不能保证其表现必然优于传统的私募股权基金。

加利福尼亚州公职人员退休系统（California Public Employees' Retirement System）的副首席投资官安东·奥利奇（Anton Orlich）在1月份的一次董事会会议上表示，在截至2022年的三十年间，“在大多数时期”其共同投资的业绩低于私募股权投资组合，直到过去三年这一趋势才发生逆转。

该策略的一个主要担忧是，私募股权基金管理人可能会向机构投资者提供质量较低的共同投资项目。

为捐赠基金和家族办公室管理资金的投资公司 Cerity Partners 的合伙人纳特·弗雷泽（Nat Fraser）表示，逆向选择的风险是“至关重要的”。当面对一个共同投资机会时，他首先会问的问题之一是：“为什么我们如此幸运能看到这个项目？”

纽约市退休系统（New York City Retirement System）的首席投资官蒙特·塔博克斯（Monte Tarbox）表示，许多公共养老金计划缺乏足够的交易专业知识，无法与私募股权基金管理人在平等的基础上参与共同投资。

“当一个共同投资项目来到像我这样的机构时，细节已经敲定了，”塔博克斯说，“管理人将其包装得很好，在上面系一个漂亮的蝴蝶结，然后说‘给你，要么接受，要么放弃’。”

时机是共同投资面临的另一个挑战。共同投资通常要求投资者在几周甚至几天内做出决定，而选择一个私募股权基金管理人可能需要花费数月时间。

弗雷泽表示，Curity Partners 最近从获知一家 AI 公司的共同投资机会到举行最终投资委员会投票，仅用了 92.5 小时。他补充道：“如果我们在这次特定交易中没有行动得如此迅速，我们可能就无法参与其中。”

容量限制为共同投资的增长规模设定了上限。

投资者表示，私募股权基金管理人将在寻找和管理交易中继续发挥核心作用，而共同投资者则在基金投资额之外承担额外的容量。

“市场可能会在基金资金与可用的共同投资资金之间找到一个平衡点，”弗雷泽说。

📄 Original Section

State-run energy group looks at LNG exports to help finance its expansion and extract value

VERITY RATCLIFFE — LONDON NICOLAS PARASIE — DUBAI

When Saudi Aramco began developing the giant Jafurah field in 2020, it raised the prospect of the country becoming a natural gas exporter for the first time.

Despite its dominant role in the oil trade, the kingdom was not selling any gas overseas while domestic demand was outstripping supply. The \$100bn Jafurah project would transform the Saudi gas industry on both fronts.

But six years on, Aramco is still grappling with what to do with all the gas it will produce.

The state-run company is also balancing competing priorities, as it seeks to maximise the value of its operations to finance both its own expansion plans and the kingdom's ambitious economic agenda, just as the war in the Middle East roils global energy markets.

Jafurah began producing last year, with phase two of the project expected to start by 2030. Aramco has said its gas production will rise by about 80 per cent from 2021 to the end of the decade.

Much of the gas has a ready market at home. Saudi Arabia is in the process of switching its fossil-fuel power plants to gas, allowing it to export more of the oil it produces and bank the revenues.

Wood Mackenzie has estimated that Saudi Arabia's annual production of 180bn cubic metres of gas could leave as much as 50bn cubic metres a year spare after the country's own needs are met.

Saudi Arabia's push into AI and data centres should absorb some of that surplus, but significant volumes are set to become available in the years ahead.

Neivan Boroujerdi, a Dubai-based director of corporate research at Wood Mackenzie, said that it was likely that Aramco would need to find foreign buyers for its product.

"If they get close to their production target, they're going to need some other sources of demand," he said. "If that doesn't materialise domestically, then they will have excess gas available for exports."

One option would be for Saudi Arabia to set itself up as a liquefied natural gas exporter, potentially rivalling the likes of the United Arab Emirates and Oman, although that would require Aramco to build liquefaction facilities.

Plans to build an LNG export terminal that would use gas from phase two of Jafurah were presented last year but sidelined, at least for now, according to one Aramco employee, who added that Riyadh wanted to focus on meeting its domestic needs first. A decision by Aramco to export gas would have a huge impact on the industry.

The company is already looking for new ways to finance its expansion and extract more value from its existing assets. One option is to reshape the gas business itself.

Aramco is preparing to carve out the business into a separate company that may eventually be listed, an initiative dubbed “Project Gamma”, people familiar with the group’s thinking said.

This would mark a departure from the country's recent focus on selling stakes in its businesses to private investors. In 2021, it ringfenced its oil-pipeline assets and sold a 49 per cent stake to a group of investors including EIG and Mubadala. The following year it completed a lease-and-leaseback deal for its gas pipelines.

Aramco is also seeking to extract greater value from its other assets including real estate, power, water and oil storage, according to people familiar with the company, as it seeks to monetise businesses outside its core crude production and processing operations.

"The overarching theme is optimising capital," said an adviser who has worked for Aramco in the past.

Aramco's push to make the most of its balance sheet has continued despite the soaring crude prices from the US and Israeli war against Iran that have delivered bumper profits, even as Saudi Arabia has been among those hardest hit by the conflict.

“Aramco doesn’t need the money, the Saudis need the money,” said the adviser.

Riyadh's ambitious programme to diversify its economy and attract investment into non-hydrocarbon industries

Six years after Aramco started developing the giant \$100bn Jafurah field, above, the group, based in Riyadh, below left, is still grappling with what to do with all the gas that it will produce

Fayez Nureldine/AFP via Getty Images

'Aramco doesn't need the money, the Saudis need the money'

has seen it announce sales of stakes in a range of sectors, from tourism mega-projects to aviation hubs and AI.

"The kingdom is making a strategic move in a direction that supplements oil and gas with other technologies," said Sadad Al Husseini, an independent consultant and former Aramco executive. This requires Aramco "to do more things with what they have", he added.

Some industry watchers question whether Aramco can really list its gas business. Aramco's international LNG assets will not be included in any new company, according to two people with knowledge of its plans, and without real plans to build LNG plants, there is little rationale for an IPO, they added.

Aramco's domestic business, with gas sold at government-set fixed prices, also produces stable returns, which may be better suited to the lease-and-leaseback model it has used before, according to people close to the company.

Launching an IPO while the kingdom's energy facilities face the threat of further attack from Iran would be tricky. The full potential of Jafurah has also yet to be established, said one employee.

Aramco declined to comment on its gas plans.

However, the pressure to extract value from its gas operation means that the idea will not disappear completely.

“Aramco is expected to maintain oil capacity and export resilience, accelerate gas growth, build an international LNG position and support Saudi Arabia’s wider economic and energy objectives,” said Boroujerdi.

"Meeting all of those goals while funding a growing dividend is becoming increasingly challenging against this backdrop of so much volatility."

Our global team gives you market-moving news and views, 24 hours a day ft.com/markets

Commodities

债权人审视 AI 超大规模云服务商的资产负债表

Ellen Carr

市场洞察

有时，债权人觉得自己像是房间里唯一成熟的成年人。随着 AI 驱动的狂热推高股市，债券警觉者（bond vigilantes）正推高国债利率，而信贷市场则在下调数据中心相关债务的定价。

股票分析师可能会因为给出梦幻般的盈利预测而获得报酬，但债权人能期待的最好结果，就是债券持有至到期时能按面值偿还。

因此，他们会关注细节，而细节之中往往隐藏着魔鬼。例如，超大规模云服务商（hyperscalers）为构建 AI 基础设施而承担的债务引起了广泛关注，甚至被指责挤占了国债市场，但债权人以典型的“极客”方式将此研究得更深，审视租赁等表外义务。

任何合格的信贷分析师在计算资产负债表时都会将租赁义务纳入其中，用金融术语来说就是将其“资本化”——即便发行人没有这样做。我们这样做并非为了充当教师，因为与债券票息一样，经营租赁在破产之外通常是不可取消的。

在申请第 11 章破产保护的零售商高级无担保债权人委员会中，房东代表通常与无担保债券持有人和贸易债权人坐在同一张桌子上——这三类债权人是“同等顺序”（pari passu）的，换句话说，他们的债权主张地位平等。

正如《信贷投资者手册》（The Credit Investor's Handbook）所述，在美国引入 ASC-842 会计准则后的经验法则是：将资产负债表中的经营租赁负债计入债务，然后除以 EBITDA 加上租金，从而得出“租赁调整后杠杆率”。

随着超大规模云服务商从“现金奶牛”转变为净借款人，计算用于建设数据中心的投资级债券债务很容易。债券的金额、到期日和票息都是固定且明确的。

当 Meta 今年发行 250亿美元债券时，分析师相应地将其债务负担增加了 250亿美元，并将新的利息支出计入其现金流预测中。

但当 Meta 与私募资本公司 Blue Owl 去年成立一家合资企业在路易斯安那州建设名为 Hyperion 的巨型数据中心时，计算就没那么简单了。这以及其他超大规模云服务商的租赁义务较为模糊，部分原因是大多数相关数据中心正处于

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在像 2026年这样的年份，债权人可能会在的下一份年报中发现不愉快地惊喜

建设中，尚未反映在资产负债表的经营租赁负债中。

我们目前掌握的关于这些义务的信息并不令人安心。例如，在最近一个季度的披露中显示，尚未启动的项目中存在约 3470亿美元的未来租赁义务。相比之下，截至 2025 年底，其资产负债表内的债务为 840亿美元。

这 3470亿美元并非资产负债表上的经营租赁负债；将使用折现率来计算每项租赁在投入使用时的负债价值。但需要两位数的利率才能将其削减至 1000亿美元以下。

全面的租赁披露仅要求每年进行一次。因此，在像 2026年这样一个数据中心租赁呈爆炸式增长的年份，债权人可能会在的下一份年报中发现不愉快地惊喜。即便在提交后，披露的内容可能也无法提供太多参考。与相当标准化的门店租赁不同，如果你看过一份数据中心租赁合同，你也就仅仅看过一份数据中心租赁合同而已。

尽管没有提供 2026 年之后的明确资本支出（capex）指引，但卖方估计到 2028年为止的支出将超过 5000亿美元，这将超过其预测的经营现金流。无论相关的融资是以租赁负债还是债务的形式出现，及其关联公司（如 Hyperion 等未来载体）在未来几年内将定期回归信贷市场。

未来女性 50 位明日之星

所有这些变动因素——债务和租赁义务，加上 Meta 的息税折旧摊销前利润（ebitda）和经营现金流的增长——使得预测其资产负债表的轨迹变得具有挑战性。到 2028 年年底，Meta 经租赁调整后的杠杆率结果范围比典型的 AA 级信用评级要宽。难怪其债券（我的公司未持有该债券的多头或空头头寸）在交易表现上更像评级为高 BBB 级的 Verizon 的债务。市盈率则没有这种对等关系；的市盈率是 Verizon 的两倍多。

历史表明，股市往往会忽略（甚至更倾向于）表外义务，直到达到一个拐点。债权人可能不确定究竟如何核算已承担的租赁义务，但他们的最佳猜测会出现在其模型的某个地方——并最终体现在他们持有债券所要求的利差中。

等到股票分析师开始邀请他们的债券同行“一起喝杯啤酒，请教一下关于租赁的问题”时，超大规模云服务商的债券价格——以及市盈率——可能会低得多。

Ellen Carr 是 Barksdale Investment Management 的债券组合经理，也是《信用投资者手册》（The Credit Investor's Handbook）的编辑。

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📄 Original Section

Institutional investors challenge private equity fund model by switching to direct deals

SUN YU — NEW YORK

Institutional investors are increasingly investing directly in companies alongside private equity firms rather than committing capital to funds that leave investment decisions up to asset managers.

The shift towards so-called co-investments, which come with lower fees and greater flexibility, has accelerated as investors seek more control over their private market portfolios amid a prolonged dearth of realised returns from portfolio company sales.

The value of private equity co-investments more than doubled year on year to a record \$198bn in the first half of this year, according to S&P Global Market Intelligence. Overall private equity fundraising rose 5 per cent over the same period to \$312bn but remained below its 2021 peak.

“This is increasingly a part of the institutional playbook,” said Roger Vincent, founder of Summation Capital, a New York-based private equity fund that has made about a dozen co-investments.

Some investors have generated outsized returns from co-investments that gave them additional exposure to fast-growing start-ups. The North Carolina Investment Authority invested \$200mn in Anthropic alongside Baillie Gifford earlier this year, a deal that could return five times if the AI start-up goes public at a \$2tn valuation.

The fund has also twice co-invested in continuation vehicles involving Ascent Resources, a US natural gas producer. The latest investment in March had been marked up by about 20 per cent in six months.

"Our share of co-investments is going up dramatically," said Brad Briner, North Carolina state treasurer and chair of the North Carolina Investment Authority, which manages the state's \$150bn retirement system, adding that about half of its planned private equity deployment would in the future go towards co-investments.

Unlike traditional private equity funds, where investors typically pay a 2 per cent management fee and 20 per cent of investment profits as carried interest, co-investments come with little or no management fee and carry.

The lower fee burden could translate into higher returns. The \$86bn Pennsylvania Public School Employees' Retirement System estimates that its co-investments have outperformed its overall private equity portfolio by about five to six percentage points thanks largely to savings on management fees and carried interest. "The advantage goes right to the bottom line," said Benjamin Cotton, chief investment officer at PSERS.

Co-investments also give investors greater control over when and where to deploy their capital than traditional private equity funds where managers make investment and capital call decisions.

Allen Waldrop, deputy chief investment officer at the \$89bn Alaska Permanent Fund Corporation, said co-investments accounted for up to a third of its annual private equity deployment and were used “opportunistically” to increase exposure to specific sectors, such as energy and financial services, or geographies, as well as to control the pace of investment.

"If we think there are a lot of interesting opportunities, it's an easier way to get capital invested than waiting for the right fund to commit money to," said Waldrop.

The private equity fundraising slump has also boosted co-investment as managers, particularly at smaller firms, offer investors more opportunities to strengthen relationships or raise capital for deals that exceed their funds' capacity. "There are more co-investments coming out of a lower number of deals in the market," said Jennifer Fox Bensimon, head of co-investments at Partners Capital.

Co-investments have outperformed in Pennsylvania — Bastiaan Slabbers/Sipa USA/Alamy

Still, co-investments do not guarantee outperformance over traditional private equity funds.

Anton Orlich, deputy chief investment officer at the California Public Employees' Retirement System, told a board meeting in January that its co-investments had underperformed private equity portfolios "in most periods" over the three decades to 2022 before the trend reversed in the past three years.

A main concern over the strategy is that private equity managers may offer institutional investors lower-quality deals for co-investment.

Nat Fraser, a partner at Cerity Partners, an investment firm that manages capital for endowments and family offices, said the risk of adverse selection was “paramount”. When presented with a co-investment opportunity, one of the first questions he asks is: “Why are we so fortunate to be seeing this deal?”

Monte Tarbox, chief investment officer at the New York City Retirement System, said many public pension plans lacked the dealmaking expertise to participate in co-investments on an equal footing with private equity managers.

“By the time a co-investment comes to an organisation like mine, the details are already baked,” said Tarbox. “The manager dresses it up in a nice wrapper, puts a pretty bow on top of it and says ‘here you go, take it or leave it.’”

Timing is another challenge facing co-investments, which often require investors to make decisions within weeks or even days rather than the several months that they may spend selecting a private equity manager.

Fraser said Curity Partners had recently taken 92.5 hours from learning of a co-investment opportunity in an AI company to holding a final investment committee vote. "If we hadn't moved that quickly on this particular deal, we probably wouldn't have been able to participate," he added.

Capacity constraints have set a limit on how much co-investments can grow.

Investors said private equity managers would continue to play a central role in sourcing and managing deals with co-investors taking up additional capacity beyond what their funds invest.

"The market will probably find an equilibrium in terms of fund dollars versus co-investment dollars that are made available," said Fraser.

2026 年入选名单公布

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📄 Original Section

Creditors scrutinise the balance sheets of AI hyperscalers

Ellen Carr

Markets Insight

t times, creditors can feel like they are the only adults in the room. As AI-driven exuberance drives stock markets higher, bond vigi-

lantes are pushing Treasury rates higher while credit markets are repricing data centre-related debt lower.

While equity analysts might get paid for dreamy earnings forecasts, the best creditors can hope for is repayment at par if a bond is held to maturity.

So they look at the details where, as ever, devils reside. For example, while the debt being taken on by hyperscalers to build out AI infrastructure gets lots of attention and is even being blamed for crowding out Treasury bonds, creditors have taken this a step further in typically geeky fashion, scrutinising off-balance sheet obligations such as leases.

Any credit analyst worth their salt puts lease obligations into their balance sheet calculations, capitalising them in financial jargon – even if the issuer does not. We don't do this to be school-marms; like bond coupons, operating leases are typically non-cancellable outside of bankruptcy.

Senior unsecured creditor committees for retailers in Chapter 11 routinely have a landlord representative sitting at the same table as unsecured bondholders and trade creditors – these three creditors are “pari passu”, in other words, equal in their claims.

As outlined in The Credit Investor's Handbook, the rule of thumb after the introduction of the ASC-842 accounting rule in the US is to add the balance sheet operating lease liability to debt and divide by ebitda plus rent to arrive at "lease-adjusted leverage".

As hyperscalers move from cash cows to net borrowers, it's easy to account for the investment grade-rated debt issued to build data centres. The dollar amount, maturity and coupon of bonds are fixed and clear.

When Meta issued \$25bn in bonds this year, analysts duly added \$25bn to its debt burden and the new interest expense to their cash flow forecasts.

But when Meta and private capital firm Blue Owl created a venture last year to build a huge data centre in Louisiana, known as Hyperion, the maths was not so easy. This and other hyperscaler lease obligations are murky, in part because most of the associated data centres are

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非洲

Victoria Adwet，基苏木青年 WASH 议会（Kisumu Youth WASH Parliament）创始人

Favour Obianuju Agwuna，JunnieGreen Pharmacy 创始人兼首席执行官

S23, Sunriecroth Pharmacy

Nirina Nancy Sandra Andriambelo,

Sun Resources Sava Sarl 自动化专家

Bupa

Maggie Chalera，GLAYMA 青年与女性赋权社区组织（GLAYMA Youth And Women Empowerment Community Based Organization）创始人兼执行董事

Ezinne Enyinnaya，全球谈判研究所（The Institute for Global Negotiation）瑞士分部，气候行动谈判项目总监

Rebecca Joseph Kashindye，Politeia 民主网络（The Politeia Democracy Network）创始人；总统办公室——区域管理与地方政府（PO-RALG）地方政府议员

Fiona Macharia，Kiasili Farm 联合创始人兼社会影响、可持续发展与目标经理

Mirriam Mwongeli Mueni，ZEP-RE（PTA 再保险公司）可持续发展经理

Tawonga Nyirenda Maseya，SeedBiz 创始人兼首席执行官

Fatima Zohra Tchikou，Zolilate AI HealthTec 发明家、首席执行官兼创始人

Mitin Sandrine Yaah，Green Space Academy 项目经理；EcoYouth Policy Lab 创始人

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亚太地区

Eain Dray Aung，朱拉隆功大学 Sasin 管理学院 ESG 可持续发展创作者

Natasha Mae Benitez 博士，圣卡洛斯市卫生局农村健康医生兼传染病项目经理

Aeint Myat Chel，缅甸 Forward Food Tech 创始人

Vicky Chen，The Eureka Project 创始人；MLC 高中生

Karida Humaira Niode，PT TBS Energi Utama Tbk 可持续发展副总裁

Mirza Rayana Sanzana 博士，马来西亚莫纳什大学讲师

赞助商：

Shreeya Shukla，Pi Green Innovations 可持续发展助理总经理

Nitika Singla 工程师，圣雄甘地州公共行政学院（MGSIPA）灾害管理专业人士

Anoushka Sinha，Anupam Foundation 创始人、执行董事兼首席影响官

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加勒比地区

Cayemite Christella Ange L.W，医生及 Éveil des Veuves (EV) 创始人

Virginia Angelica Tathum Massias,

Yapti Prana 创始人兼文化项目协调员

Abbie Hills，Dazey Talent 艺人经纪人、制片人兼作家

Marleen Hoogendijk，皇家史基浦集团（Royal Schiphol Group）可持续发展业务变革经理

Marianna Hunt，富达国际（Fidelity International）副总监

Jin Dawod，和平治疗师创始人

Anya Doherty，Foodsteps 创始人

Ankita Durani，ASML 项目负责人；iBUILT（国际技术商业与创新领导者）联合创始人

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欧洲

Alexandra Bègue，SAP研究与创新中心首席创新生态系统经理

Clarisse Beurrier，Cellcraft联合创始人兼首席技术官

Tatiana Daniliuc，Education 4U LTD董事总经理兼共同所有者

Lydie Kitenge博士，医生，Boldly Ambitious创建者兼创始人

Mirabella Pulido，ClientEarth亚洲及大洋洲开发负责人

Soraiya Salemohamed，4℃ Group ESG总监

Anniek van Veldhuizen工程师，MyHives首席商业官兼联合创始人

来源：LSEG

Thanya Nadiyeshda Weerasinghe Kariyawasam Dona，哈德斯菲尔德大学研究员；鲁胡纳大学讲师

魏晓初博士，伦敦帝国理工学院研究员

欧元下跌，延续了近期的抛售势头，触及一年多以来的最低水平。该货币兑加元下跌0.4%，至$1.1160。

WOF2026

jink

Azza Hashim博士，Bupa Global ESG治理与战略专家；气候变化谈判代表；非洲金融公司（AFC）气候领导力研究员

esg.womenofthefuture.co.uk

Zahra Shakarchi博士，Al-Ferdous医院医学博士

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中东

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北美

庆祝处于ESG前沿的女性先驱

Roseline Adewuyi博士，Roseline Initiative创始人

Estefania Michel Cid，桑坦德银行可持续金融总监

近期市场关注点集中在法国的债务规模及其即将到来的总统选举

美国芯片股的费城半导体指数下跌2.1%。

Gabriela Galindo Montoya，玻利维亚食品银行基金会食品工程师

Rosamaría Vélez Estrada，联合国开发计划署（UNDP）包容性保险与风险融资国家协调员

Yesenia María Angola Silvera，生物化学理学学士，国际农业及相关科学学生协会-玻利维亚

Jazmin Fallas Kerr，BoaPaz基金会联合创始人；ESS Chorotega生命区领土创新负责人

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南美

H. C. Susan Lau博士，Mercado La Terminal Online首席执行官兼创始人

“欧元多头正遭受暂时性挫折，”荷兰国际集团（ING）写道。“在加元贬值交易的推动下，年初表现较为乐观……但现在多头面临着一个立场更为强硬的美联储。再加上即将到来的选举前的法国预算政治，[欧元兑加元汇率]应将保持疲软。”

科技股昨日下跌，交易员正准备迎接本周晚些时候正式开启的关键第三季度财报季。

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市场日报

Angela Sofia Ortiz Bastidas，奇姆博拉索高等理工学院（ESPOCH）环境生物技术工程师兼初级研究员

Isabel Pulido，NanoFreeze Inc首席执行官兼联合创始人

赞助支持

Jennyfer Joana Alamilla López licenciada，Iniciando Desde Cero创始人兼总裁

截至纽约午餐时间，科技股权重较大的纳斯达克 100 指数下跌0.5%，半导体股拖累了基准指数。

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核心要点

已给该国政府债券市场带来压力。

华尔街科技股在第三季度财报季前下跌
欧元抛售压力延续，跌至一年多以来的最低水平
法国债务规模及临近的选举加剧了其政府债券的跌幅

分析师预计，华尔街银行将中断其交易业务连续创纪录的业绩增长势头。

除科技股外，市场在华尔街财报公布前整体保持稳定。蓝筹股 S&P 500 指数持平，在接近上周创下的历史最高点附近波动。

投资者将在今天初步了解第三季度财报情况，包括高盛、摩根大通、花旗集团和富国银行在内的美国大银行将公布报告。

尽管如此，市场对财报季的预期依然很高。FactSet预计 S&P 500 指数在第三季度的盈利增长率约为 30%。

该机构预计，与AI基础设施建设直接相关的公司将贡献美国第三季度盈利增长的一半以上。

高盛投资分析师Guillaume Jaisson在的一份报告中写道，美国财报季的“门槛很高”。

在有报道称俄罗斯袭击了乌克兰的电力和天然气设施后，全球能源价格上涨，尽管唐纳德·特朗普总统在周日宣布了“能源停火”。

全球基准布伦特原油价格上涨 2% 至 $106.85 每桶。欧洲天然气价格上涨 3.4% 至 €84.22 每兆瓦时，在年度最高点附近波动。Emily Herbert

由于投资者抛售债券，10年期法国债券收益率再次上涨 0.04 个百分点，至 4.90%。

市场更新

| 美国< / > 欧元区< / > 日本< / > 英国< / > 中国< / > 巴西< / > | 股票< / > S&P 500< / > Eurofirst 300< / > Nikkei 225< / > FTSE100< / > 上证综指< / > 博维斯帕< / >< / > 水平< / > 7802.05< / > 2538.74< / > 69030.92< / > 10656.28< / > 3797.24< / > 209066.90< / >< / > 当日涨跌幅%< / > -0.12< / > 0.62< / > 休市< / > 0.99< / > -0.43< / > 休市< / >< / > 货币< / > 加元指数 (DXY)< / > 加元 / 欧元< / > 日元 / 加元< / > 加元 / 英镑< / > 人民币 / 加元< / > 雷亚尔 / 加元< / >< / > 水平< / > 102.58< / > 1.117< / > 158.695< / > 1.322< / > 6.69< / > 4.987< / >< / > 当日涨跌幅%< / > 0.36< / > -0.205< / > 0.177< / > -0.045< / > 0.02< / > 0.010< / >< / > 政府债券< / > 10年期国债< / > 10年期德国国债< / > 10年期日本国债< / > 10年期英国国债< / > 10年期国债< / >< / > 收益率< / > 5.24< / > 3.47< / > 3.00< / > 5.38< / > 1.69< / > 12.55< / >< / > 当日基点变化< / > -0.03< / > 0.00< / > -0.04< / > -0.03< / > 0.00< / > -0.21< / >< / > 全球 / 大宗商品< / > 富时全球指数< / > 原油 - 布伦特< / > 原油 - WTI< / > 黄金< / > 白银< / > 金属 (LMEX)< / >< / > 水平< / > 754.68< / > 106.70< / > 93.70< / > 4164.89< / > 60.24< / > 5798.10< / >< / > 当日涨跌幅%< / > -0.02< / > 1.94< / > 2.01< / > -0.57< / > -0.89< / > 1.51< / > |

主要股票市场

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最大涨跌幅

% | 美国< / > | Fair Isaac< / > 6.09< / >< / > eBay< / > 4.03< / >< / > < rowspan="3">上涨< / > Medtronic< / > 3.68< / >< / > Meta Platforms< / > 3.62< / >< / > GE HealthCare Tech< / > 3.45< / > |

< rowspan="5">下跌< / > Corning< / > -6.20< / >< / > Hewlett Packard Ent< / > -4.57< / >< / > Chipotle Mexican< / > -4.31< / >< / > Palo Alto Networks< / > -3.86< / >< / > CrowdStrike Hldgs< / > -3.79< / > |

欧元区

价格取自格林威治标准时间 10 月 12 日 17:00

Adyen< / > 3.92< / >< / > Wolters Kluwer CVA< / > 2.88< / >< / > Santander Bank Polska< / > 2.79< / >< / > Carlsberg< / > 2.47< / >< / > Rheinmetall< / > 2.46< / > |

Nokia< / > -3.22< / >< / > Infineon Technologies< / > -2.79< / >< / > STMicroelectronics< / > -2.11< / >< / > ASML Holding< / > -1.61< / >< / > H & M Hennes & Mauritz< / > -1.48< / > |

基于富时欧洲第一 300 欧元区指数（FTSE Eurofirst 300 Eurozone）的成分股

ConvaTec< / > 4.82< / >< / > HG Capital< / > 3.69< / >< / > RTW Biotech Opps< / > 3.65< / >< / > Amaroq< / > 3.42< / >< / > Hunting< / > 3.41< / > |

Ground Truth 图像显示一条单一的实线水平线，这是一个风格化或背景元素（类似于纸上的标线）。根据规则 2，此类线条必须在 OCR 结果中被忽略。提供的 OCR 内容为 ""，不包含任何字符。由于 OCR 输出正确地忽略了风格化线条，因此符合规则 2。因此，OCR 结果与 Ground Truth 一致。

Hays< / > -12.84< / >< / > AEP Plantations< / > -10.08< / >< / > Michael Page< / > -8.49< / >< / > Baltic Classifieds Group< / > -3.47< / >< / > Raspberry Pi Holdings< / > -3.16< / > |

所有数据由 ICE 提供。www.ice.com

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金融

📄 Original Section

What you need to know

has weighed on the country's government bond market.

\- Wall Street tech stocks slide ahead of third-quarter earnings season

Euro extends sell-off for currency to hit its lowest level for more than a year
France's debt pile and looming election add to losses for its government bonds

Analysts expect the Wall Street banks to interrupt a streak of record-breaking results from their trading businesses.

Beyond tech, markets were broadly steady ahead of Wall Street earnings. The blue-chip S&P 500 index was flat, hovering close to the all-time high that it reached last week.

Investors will get the first taste of third-quarter earnings today when big US banks including Goldman Sachs, JPMorgan, Citigroup and Wells Fargo will report.

Despite that, expectations for earnings season remain high. FactSet expects the S&P 500 to report earnings growth of around 30 per cent in the third quarter.

The bank is expecting companies directly linked to the AI infrastructure build-out to generate more than half of US earnings growth in the third quarter.

"The bar is high" for US earnings season, wrote Goldman Sachs investment analyst Guillaume Jaisson in a note.

Global energy prices advanced after reports that Russia had struck Ukrainian power and gas facilities, despite President Donald Trump's announcement on Sunday of an "energy ceasefire".

Global oil benchmark Brent rose 2 per cent to \$106.85 per barrel. European natural gas gained 3.4 per cent to €84.22 per megawatt hour, hovering around its highest level of the year. Emily Herbert

The yield on 10-year French bonds rose another 0.04 percentage points to 4.90 per cent as investors sold the debt.

Markets update | US | Eurozone | Japan | UK | China | Brazil | Stocks | S&P 500 | Eurofirst 300 | Nikkei 225 | FTSE100 | Shanghai Comp | Bovespa | Level | 7802.05 | 2538.74 | 69030.92 | 10656.28 | 3797.24 | 209066.90 | % change on day | -0.12 | 0.62 | Closed | 0.99 | -0.43 | Closed | Currency | $ index (DXY) | $ per € | Yen per $ | $ per £ | Rmb per $ | Real per $ | Level | 102.58 | 1.117 | 158.695 | 1.322 | 6.69 | 4.987 | % change on day | 0.36 | -0.205 | 0.177 | -0.045 | 0.02 | 0.010 | Govt. bonds | 10-Year Treasury | 10-year-Bund | 10-year JGB | 10-Year Gilt | 10-year-bond | 10-year-bond | Yield | 5.24 | 3.47 | 3.00 | 5.38 | 1.69 | 12.55 | Basis point change on day | -0.03 | 0.00 | -0.04 | -0.03 | 0.00 | -0.21 | World / Commods | FTSE All-World | Oil - Brent | Oil - WTI | Gold | Silver | Metals (LMEX) | Level | 754.68 | 106.70 | 93.70 | 4164.89 | 60.24 | 5798.10 | % change on day | -0.02 | 1.94 | 2.01 | -0.57 | -0.89 | 1.51 | Main equity markets

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Permira 负责人称，在当前环境下私募股权可以达成“最佳”交易

ALEXANDRA HEAL 和 ANTOINE GARA

伦敦

欧洲最大公司之一的联席负责人表示，在当前环境下，私募股权将能够达成一些最佳交易，较低的估值和竞争的减少将帮助该行业获得“卓越的回报”。

总部位于英国的收购集团 Permira 的联席首席执行官 Dipan Patel 上周在伦敦举行的金融时报私募资本峰会（FT Private Capital Summit）上表示，在互联网泡沫破裂和全球金融危机之后达成的交易是历史上“最出色”的交易之一。“我们今天正处于同样的状态，”他说道。

“这将是较好的年份之一……我认为前四分之一的基金将获得卓越的回报，”Patel 补充道，他指的是公司目前寻求用于交易的基金。

收购行业在过去几年中经历了艰难时期，首次公开募股（IPO）充满挑战，而较高的利率使得公司难以按预期估值出售。许多公司在超低利率时期以高估值投资，并抵制以会导致回报不理想的价格出售，从而减少了该行业机构支持者的现金回报。

“处于低利率环境是一个问题，”Permira 的 Patel 表示。

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“从股权方面来看，软件行业已从资本过剩转变为资本不足”

该公司管理着约 1000亿欧元的资产。“在清醒地面对高利率环境时，对于私募股权投资而言这并不是问题，因为这会体现在交易定价中。”

凯雷集团（Carlyle Group）联席总裁约翰·雷德特（John Redett）表示，“廉价资金”以及金融危机后长期的经济扩张导致了该行业的自满。

他补充道：“人们普遍从估值倍数的扩张中获益，他们不需要专注于价值创造。”

但他说，尽管持有大量未投资现金的基金减少了，但仍然存在“具有吸引力的投资机会”，他指的是收购国防公司以及大型企业集团中不受青睐的部门。

帕特尔（Patel）表示，人工智能也将创造机会，例如在软件领域。他说：“从股权方面来看，[软件行业]已从资本过剩转变为资本不足。”

那些认为某些行业能够免受人工智能冲击而押注于这些行业的投资者可能会感到失望。他说：“没有任何一个行业能对人工智能免疫。”

专注于软件的收购公司 Hg 的执行主席尼克·汉弗莱斯（Nic Humphries）表示，在这个新 era.，只有那些在投资组合公司中投资于人工智能应用并能“规模化这种内部能力”的公司才能生存下来。他补充道：“什么都不做的人——死路一条。”

| 日< / > 0.73%< / > 月< / > 3.32%< / > 年< / > 8.60%< / > | Bovespa< / >< rowspan="3" colspan="4">圣保罗< / >< / > < / > 187206.89< / > < / >< / > < / > 209066.90< / > < / > |

日 $\rightarrow$ 收盘月 $\nearrow$ 11.68% 年 $\nearrow$ 47.53%

< / > -0.12%< / > -0.26%< / > |

EPS(p)< / > DIV(p)< / > 派息日< / > 除权日< / >< / > 0.750 (0.410)< / > 0.600 (0.500)< / > 10月30日< / > 10月08日< / >< / > 32.000 (31.000)< / > 33.000 (26.000)< / > 12月08日< / > 11月12日< / >< / > 8.350 (8.270)< / > 6.200 (5.750)< / > 10月09日< / > 8月27日< / >< / > 0.160 (-0.410)< / > 3.500 (2.500)< / > 11月13日< / > 10月15日< / >< / > 0.930 (2.450)< / > 1.100 (0.940)< / > 2月08日< / > 12月24日< / >< / > -3.400 (10.700)< / > 4.750 (4.750)< / > 11月20日< / > 10月15日< / >< / > -1.730 (-1.260)< / > n / a (n / a)< / > < / > -< / >< / > 6.790 (6.910)< / > 4.070 (2.850)< / > 10月30日< / > 10月01日< / >< / > 16.900 (14.400)< / > 5.050 (4.800)< / > 11月20日< / > 10月15日< / >< / > 31.500 (21.000)< / > 8.800 (7.400)< / > 12月15日< / > 11月19日< / > |

过去 30 天的股市走势，并以相同货币的富时全球指数（FTSE All-World）作为对比

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全球市场概览

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前一交易日涨跌幅 (%)

FTSE EuroFirst

0.62%

Sep 11 - Oct 12S&P 500 New York | < / > Index< / > All World< / >< / > < / > 7656.98< / > 7802.05< / > |

Day ▷ -0.12%< / > Month ▷ 1.95%< / > Year ▷ 15.91%< / >< / > | Nasdaq Composite< / > New York< / > |

Day ↗ 0.42% Month ↘ -1.33% Year ↗ 11.90%

Country< / > Index< / > Latest< / > Previous< / >< / > Australia< / > All Ordinaries< / > 8937.00< / > 8877.70< / >< / > Australia< / > S&P ASX 200< / > 6783.20< / > 8716.60< / >< / > Australia< / > S&P ASX 200 Res< / > 7772.90< / > 7671.60< / >< / > Austria< / > ATX< / > 6609.76< / > 6543.45< / >< / > Belgium< / > BEL 20< / > 5490.22< / > 5404.74< / >< / > Belgium< / > BEL Mid< / > 6409.45< / >< / > Brazil< / > Bovespa< / > 200966.90< / >< / > Canada< / > S&P TSX 60< / > 2099.30< / >< / > Canada< / > S&P TSX Comp< / > 35684.62< / >< / > Chile< / > SS&P / CLX IGPA GEN< / > 56930.02< / >< / > China< / > China

FTSE A200< / > 10810.04< / > 10884.90< / >< / > < / > Shanghai A< / > 3981.15< / > 3998.45< / >< / > < / > Shanghai B< / > 305.00< / > 310.68< / >< / > < / > Shanghai Comp< / > 3797.24< / > 3813.79< / >< / > < / > Shenzhen A< / > 2435.07< / > 2479.39< / >< / > < / > Shenzhen B< / > 1160.66< / > 1161.30< / >< / > Croatia< / > CROBEX< / > 4498.95< / > 4492.97< / >< / > Cyprus< / > CSE M&P GEN< / > 310.09< / > 307.76< / > |

Country< / > Index< / > Latest< / > Previous< / >< / > Czech Republic< / > Czech Republic P£< / > 2597.75< / > 2578.77< / >< / > Denmark< / > DMXC Copenhagen 20< / > 1527.08< / > 1518.17< / >< / > Egypt< / > EGX 30< / > 51613.90< / > 52306.70< / >< / > Estonia< / > OMX Tallinn< / > 2231.55< / > 2232.88< / >< / > Finland< / > OMX Helsinki General< / > 13582.13< / > 13564.55< / >< / > France< / > French CAC40< / > 7832.88< / > 7803.33< / >< / > France< / > SBF 120< / > 5941.37< / > 5919.23< / >< / > Germany< / > M-DAX< / > 30104.33< / > 29989.90< / >< / > Germany< / > Tec-Dax< / > 3993.16< / > 3978.41< / >< / > Germany< / > XETRA

Dax< / > 25277.68< / > 25087.27< / >< / > Greece< / > Athens< / > 2594.52< / > 2559.18< / >< / > Greece< / > FTSE / ASA< / > 6639.97< / > 6547.03< / >< / > Hong Kong< / > Hang Seng< / > 24217.25< / > 24213.35< / >< / > Hong Kong< / > HSCL Enterprises< / > 8168.57< / > 8147.87< / >< / > Hong Kong< / > HSCC Red Chip< / > 4044.74< / > 4048.95< / >< / > Hungary< / > Bux< / > 142940.29< / > 141671.00< / >< / > India< / > BSE Sensex< / > 71924.68< / > 72472.33< / >< / > Indonesia< / > Jakarta Comp< / > 5536.15< / > 6923.76< / > |

Nikkei

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📄 Original Section

‘From the equity side, software has gone from overcapitalised to undercapitalised’

which manages about €100bn in assets. "Being in a high-rate environment, eyes wide open, is not a problem for private equity because it translates into deal pricing."

John Redett, co-president of Carlyle Group, said “free money” and a long period of economic expansion after the financial crisis had caused complacency in the sector.

“People were generally benefiting from multiple expansion,” he added. “They didn’t have to focus on value creation.”

But with fewer funds sitting on piles of uninvested cash, there were still “attractive opportunities out there to invest in”, he said, referring to acquisitions of defence companies and unloved divisions of large conglomerates.

AI would also create opportunities, Patel said, such as in software. "From the equity side, [software] has gone from overcapitalised to undercapitalised," he said.

Investors betting on other sectors in the belief that they were insulated from AI disruption could be disappointed. "There's no sector immune from AI," he said.

Nic Humphries, executive chair of software-focused buyout firm Hg, said that only firms that invested in using AI in their portfolio companies and could “scale that internal capability” would survive in the new era. “People who do no nothing – dead,” he added.

| Day | 0.73% | Month | 3.32% | Year | 8.60% | Bovespa | Sao Paulo | 187206.89 | 209066.90 | Day → Closed Month ↗ 11.68% Year ↗ 47.53% | -0.12% | -0.26% |

| EPS(p) | DIV(p) | Pay Day | XD | 0.750 (0.410) | 0.600 (0.500) | Oct 30 | Oct 08 | 32.000 (31.000) | 33.000 (26.000) | Dec 08 | Nov 12 | 8.350 (8.270) | 6.200 (5.750) | Oct 09 | Aug 27 | 0.160 (-0.410) | 3.500 (2.500) | Nov 13 | Oct 15 | 0.930 (2.450) | 1.100 (0.940) | Feb 08 | Dec 24 | -3.400 (10.700) | 4.750 (4.750) | Nov 20 | Oct 15 | -1.730 (-1.260) | n/a (n/a) | - | 6.790 (6.910) | 4.070 (2.850) | Oct 30 | Oct 01 | 16.900 (14.400) | 5.050 (4.800) | Nov 20 | Oct 15 | 31.500 (21.000) | 8.800 (7.400) | Dec 15 | Nov 19 | Stock Market movements over last 30 days, with the FTSE All-World in the same currency as a comparison

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市场数据

已收盘

股票市场：最大涨跌幅

欧洲市场

当日 ↗ 0.38% 当月 ↘ -1.64% 当年 ↘ -2.61%

当日 ↗ 0.58% 当月 ↘ -4.85% 当年 ↗ 16.76%

恒生指数

国家 | 指数< / > 最新< / > 前值< / > | 爱尔兰< / > ISEQ Overall< / > 14123.86< / > 13901.81< / >< / > 以色列< / > 特拉维夫 125< / > 3928.93< / > 3925.79< / >< / > 意大利< / > FTSE Italia All-Share< / > 52585.72< / > 52297.09< / >< / > 意大利< / > FTSE Italia Mid Cap< / > 60014.93< / > 59778.63< / >< / > 意大利< / > FTSE MIB< / > 50035.00< / > 49746.31< / >< / > 日本< / > 日经 225< / > 69030.92< / >< / > 日本< / > 东证指数 (Topix)< / > 4104.81< / >< / > 科威特< / > KSK Market Index< / > 8827.60< / > 8878.30< / >< / > 拉脱维亚< / > OMX Riga< / > 972.72< / > 980.42< / >< / > 立陶宛< / > OMX Vilnius< / > 1506.27< / > 1504.85< / >< / > 卢森堡< / > Lux€< / > 1771.13< / > 1774.12< / >< / > 墨西哥< / > 墨西哥城 IPC< / > 66529.88< / > 66048.57< / >< / > 马来西亚< / > FTSE Bursa ACD< / > 1618.01< / > 1606.45< / >< / > 摩洛哥< / > MASI< / > 16954.50< / > 16797.10< / >< / > 荷兰< / > AEX< / > 1135.49< / > 1130.95< / >< / > 荷兰< / > AX All Share< / > 1534.69< / > 1534.71< / >< / > 新西兰< / > NZ 50< / > 13827.62< / > 13749.35< / >< / > 尼日利亚< / > SE All Share< / > 248363.55< / > |

富时全球指数

美元 / 欧元

国家< / > 指数< / > 最新< / > 前值< / >< / > 挪威< / > Solo All Share< / > 2485.95< / > 2480.48< / >< / > 巴基斯坦< / > KSE 100< / > 165124.41< / > 167089.28< / >< / > 菲律宾< / > 马尼拉综合指数< / > 5743.18< / > 5700.99< / >< / > 波兰< / > Wig< / > 156834.55< / > 157901.42< / >< / > 葡萄牙< / > PSI 20< / > 9311.49< / > 9267.50< / >< / > 葡萄牙< / > PSI General< / > 6350.16< / > 5309.79< / >< / > 罗马尼亚< / > Romania BECT Index< / > 33253.02< / > 33400.45< / >< / > 俄罗斯< / > 俄罗斯美元交易指数< / > 988.10< / >< / > 沙特阿拉伯< / > TAOAHWOL All Share Index< / > 10293.96< / > 10360.74< / >< / > 新加坡< / > FTSE Straße Times< / > 5415.48< / > 5401.89< / >< / > 斯洛伐克< / > SAK< / > 317.85< / >< / > 斯洛文尼亚< / > SBI TOP< / > 3081.44< / > 2100.87< / >< / > 南非< / > FTSE / JSE All Share Index< / > 108758.94< / >< / > 南非< / > FTSE / JSE Res< / > 65606.75< / > 65660.55< / >< / > 南非< / > FTSE / JSE Top 40< / > 100963.75< / > 100764.33< / >< / > 韩国< / > 综合股价指数 (Kospi)< / > 6384.24< / > 6625.93< / >< / > 韩国< / > Kospi 200< / > 1004.92< / > 1044.52< / >< / > 西班牙< / > Spain BRX 35< / > 13935.80< / > 19033.10< / > |

活跃股票 | 成交量（百万股）< / > 收盘价< / > 当日涨跌< / > | Stellantis< / > 40.19< / > 3.97< / > -0.03< / >< / > Intesa Sanpaolo< / > 28.87< / > 6.18< / > 0.07< / >< / > Banco Santander< / > 13.26< / > 12.26< / > 0.24< / >< / > Telefonica< / > 12.56< / > 3.22< / > -0.03< / >< / > Enel< / > 11.65< / > 8.92< / > 0.05< / >< / > Nokia< / > 10.22< / > 9.01< / > -0.30< / >< / > Royal KPN< / > 7.91< / > 3.88< / > -< / >< / > AIB Group< / > 7.55< / > 10.85< / > -< / >< / > Iberdrola< / > 7.33< / > 21.68< / > 0.42< / >< / > Banco De Sabadell< / > 6.95< / > 3.54< / > -< / >< / > 最大涨跌幅< / > 收盘价< / > 当日< / > |

活跃股票< / > 成交量（百万股）< / > 收盘价< / > 当日涨跌< / >< / > Lloyds Bkg Gp< / > 93.92< / > 1.04< / > 0.02< / >< / > Vodafone< / > 84.07< / > 1.17< / > -0.02< / >< / > BP< / > 28.15< / > 5.88< / > 0.02< / >< / > Barclays< / > 27.71< / > 4.38< / > 0.08< / >< / > Glencore< / > 21.51< / > 5.86< / > 0.02< / >< / > Centrica< / > 20.43< / > 1.48< / > 0.01< / >< / > Tesco< / > 20.16< / > 5.11< / > 0.07< / >< / > Taylor Wimpey< / > 17.21< / > 0.73< / > -< / >< / > HSBC< / > 14.79< / > 14.28< / > 0.33< / >< / > Rolls-Royce< / > 14.60< / > 13.96< / > 0.10< / > |

英国市场涨跌榜

当日 ▷ -0.43% 月度 ▷ -2.34% 年度 ▷ -3.48%

$ per £ ¥ per $

0.1768

国家< / > 指数< / > 最新< / > 前值< / >< / > 瑞典< / > OMX Stockholm 30< / > 3269.79< / > 3256.14< / >< / > 瑞典< / > OMX Stockholm AS< / > 1124.99< / > 1122.11< / >< / > 瑞士< / > SMI Index< / > 13871.84< / > 13787.40< / >< / > 台湾< / > 加权股价指数< / > 49301.86< / > 49313.44< / >< / > 泰国< / > 曼谷 SET< / > 1571.74< / > 1577.65< / >< / > 土耳其< / > BIST 100< / > 12150.67< / > 12265.98< / >< / > 英国< / > FTSE 100< / > 10656.28< / > 10552.05< / >< / > 英国< / > FTSE Good UK< / > 9255.45< / > 9155.43< / >< / > 英国< / > FTSE All Share< / > 5746.57< / > 5693.90< / >< / > 英国< / > FTSE techMARK 100< / > 9657.23< / > 9572.57< / >< / > 美国< / > 道琼斯综合指数< / > 16182.76< / > 16137.50< / >< / > 美国< / > 道琼斯工业指数< / > 51870.64< / > 51654.95< / >< / > 美国< / > 道琼斯运输指数< / > 19766.81< / > 19804.14< / >< / > 美国< / > 道琼斯公用事业指数< / > 411.23< / >< / > 美国< / > 纳斯达克 100< / > 30701.01< / > 30883.15< / >< / > 美国< / > 纳斯达克综合指数< / > 27294.77< / > 27366.17< / >< / > 美国< / > 纽约证券交易所综合指数< / > 23995.78< / > 23939.10< / >< / > 美国< / > 标准普尔 500< / > 7602.05< / > 7811.54< / > |

美洲 | 活跃股票< / > 每秒交易股数< / > 收盘价< / > 当日涨跌< / >< / > 英特尔< / > 39.51< / > 101.16< / > -3.54< / >< / > 英伟达< / > 37.61< / > 226.41< / > -2.87< / >< / > 美光科技< / > 14.02< / > 996.21< / > -32.79< / >< / > Palantir< / > 13.41< / > 207.07< / > -1.98< / >< / > 超微电脑< / > 12.95< / > 39.41< / > -< / >< / > 苹果< / > 11.58< / > 339.89< / > 3.25< / >< / > 特斯拉< / > 11.22< / > 379.06< / > -3.64< / >< / > Meta Platforms< / > 10.69< / > 744.72< / > 26.05< / >< / > 亚马逊< / > 10.45< / > 260.38< / > -2.06< / >< / > 奈飞< / > 9.99< / > 70.85< / > 0.55< / > |

活跃股票< / > 每秒交易股数< / > 收盘价< / > 当日涨跌< / >< / > 日本电信电话< / > 152.03< / > 172.90< / > 0.80< / >< / > 东京海上控股< / > 94.66< / > 525.70< / > 7.60< / >< / > 软银集团< / > 72.26< / > 5803.00< / > -237.00< / >< / > 软银公司< / > 69.85< / > 242.00< / > 0.70< / >< / > 三菱日联金融集团< / > 34.40< / > 3462.00< / > -42.00< / >< / > 日产汽车< / > 33.02< / > 284.00< / > 1.00< / >< / > 藤仓< / > 29.91< / > 5413.00< / > -99.00< / >< / > 新日铁< / > 28.20< / > 629.40< / > -1.90< / >< / > 东京电力< / > 26.78< / > 520.80< / > 6.20< / >< / > 太阳诱电< / > 22.46< / > 11135.00< / > 180.00< / > |

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FT.COM / MARKETSDATA

FTSE 100 | 价格(£)< / > 周涨跌幅(%)< / > 年初至今涨跌幅(%)< / > | Winners< / >< / > Experian< / > 26.98< / > 9.41< / > -19.77< / >< / > RELX< / > 27.60< / > 8.83< / > -8.61< / >< / > Imperial Brands< / > 26.64< / > 8.73< / > -14.59< / >< / > Tesco< / > 5.11< / > 8.68< / > 15.66< / >< / > The Sage Grp< / > 10.85< / > 8.23< / > 0.14< / >< / > Autotrader Group< / > 4.95< / > 7.53< / > -15.54< / >< / > JD Sports Fashion< / > 0.86< / > 7.53< / > 1.47< / >< / > Haleon< / > 3.55< / > 7.26< / > -5.34< / >< / > Marks & Spen< / > 4.02< / > 6.80< / > 21.76< / >< / > Reckitt Benckiser< / > 52.16< / > 6.69< / > -16.57< / > |

日 ▷ -0.76% 月 ▷ -3.82% 年 ▷ -12.47%

£ per €

-0.1595%

Oil Brent \$

国家< / > 指数< / > 最新值< / > 前值< / >< / > Venezuela< / > IBC< / > 9385.56< / >< / > Vietnam< / > Viet Nam Index< / > 1720.98< / > 1735.09< / >< / > Cross-Border< / > Euro Stoxx 50 (Eur)< / > 6201.21< / > 6173.37< / >< / > Netherlands< / > Euronext 100 ID< / > 1866.11< / > 1859.81< / >< / > Cross-Border< / > FTSE 4Good Global ($)< / > 21252.60< / > 21271.75< / >< / > -< / > All World ($)< / > 753.99< / > 754.86< / >< / > -< / > €300< / > 2538.74< / > 2523.06< / >< / > -< / > Eurofirst 100< / > 4907.63< / > 4876.74< / >< / > -< / > Global 100 ($)< / > 5887.54< / > 5908.23< / >< / > -< / > Gold Min ($)< / > 5597.73< / >< / > -< / > Latibex Top (Eur)< / > 7275.10< / > 7264.60< / >< / > -< / > World ($)< / > 1412.50< / > 1414.33< / >< / > -< / > FTSEurofirst 100 (Eur)< / > 7047.96< / > 7001.08< / >< / > -< / > FTSEurofirst 80 (Eur)< / > 8450.59< / > 8416.82< / > |

Gold \$

250< / > 价格(£)< / > 周涨跌幅(%)< / > 年初至今涨跌幅(%)< / >< / > | Winners< / >< / > Bridgepoint Group< / > 4.12< / > 23.72< / > 45.17< / >< / > Avon Technologies< / > 23.30< / > 23.54< / > 28.45< / >< / > Ocado Group< / > 3.01< / > 17.13< / > 27.46< / >< / > Baltic Classifieds Group< / > 1.92< / > 12.23< / > -5.32< / >< / > B&M European Value< / > 2.71< / > 11.05< / > 60.78< / >< / > Rightmove< / > 4.92< / > 10.94< / > -5.31< / >< / > Mony Group< / > 1.91< / > 10.53< / > 3.92< / >< / > Greencore< / > 2.62< / > 7.46< / > 3.23< / >< / > Domino's Pizza< / > 2.27< / > 6.97< / > 31.03< / >< / > Genus< / > 22.72< / > 6.87< / > -12.45< / > |

涨跌幅最大股票 | 收盘价< / > 当日涨跌< / > 当日涨跌%< / > | 上涨< / >< / > Fair Isaac< / > 708.23< / > 40.65< / > 6.09< / >< / > eBay< / > 116.71< / > 4.52< / > 4.03< / >< / > Medtronic< / > 91.74< / > 3.26< / > 3.68< / >< / > Meta Platforms< / > 744.72< / > 26.05< / > 3.62< / >< / > GE HealthCare Tech< / > 68.00< / > 2.27< / > 3.45< / >< / > | 下跌< / >< / > Corning< / > 146.97< / > -9.71< / > -6.20< / >< / > Hewlett Packard Ent< / > 70.10< / > -3.36< / > -4.57< / >< / > Chipotle Mexican< / > 30.23< / > -1.36< / > -4.31< / >< / > Palo Alto Networks< / > 402.62< / > -16.16< / > -3.86< / >< / > CrowdStrike Hldgs< / > 264.61< / > -10.43< / > -3.79< / > | 下跌股票< / >< / > Vodafone< / > 1.17< / > -8.25< / > 18.02< / >< / > Airtel Africa< / > 2.90< / > -6.70< / > -18.47< / >< / > Barratt Redrow< / > 2.91< / > -5.67< / > -23.54< / >< / > Rolls-Royce< / > 13.96< / > -5.58< / > 21.36< / >< / > Melrose Ind< / > 4.50< / > -5.33< / > -23.56< / >< / > Lion Finance< / > 127.20< / > -4.22< / > 36.77< / >< / > Standard Chartered< / > 21.59< / > -3.87< / > 18.50< / >< / > Intl Cons Airlines< / > 4.19< / > -3.46< / > 1.13< / >< / > Polar CapTech< / > 6.93< / > -3.35< / > 49.35< / >< / > Balfour Beatty< / > 8.81< / > -3.29< / > 23.91< / > |

Broader Bank Pte.< / > 价格< / > 涨跌< / > 涨跌%< / >< / > | 上涨< / >< / > Adyen< / > 920.80< / > 34.70< / > 3.92< / >< / > Wolters Kluwer CVA< / > 77.16< / > 2.16< / > 2.88< / >< / > Santander Bank Polska< / > 789.20< / > 21.40< / > 2.79< / >< / > Carlsberg< / > 895.40< / > 21.60< / > 2.47< / >< / > Rheinmetall< / > 962.20< / > 23.10< / > 2.46< / >< / > | 下跌< / >< / > Nokia< / > 9.01< / > -0.30< / > -3.22< / >< / > Infineon Technologies< / > 57.22< / > -1.64< / > -2.79< / >< / > STMicroelectronics< / > 45.56< / > -0.98< / > -2.11< / >< / > ASML Holding< / > 1575.80< / > -25.80< / > -1.61< / >< / > H & M Hennes & Mauritz< / > 163.15< / > -2.45< / > -1.48< / > | 涨跌幅最大股票< / >< / > < / > 收盘价< / > 当日涨跌< / > 当日涨跌%< / >< / > | 上涨< / >< / > ComaToc< / > 2.31< / > 0.11< / > 4.82< / >< / > HG Capital< / > 3.79< / > 0.14< / > 3.69< / >< / > RTW Biotech Opps< / > 1.74< / > 0.06< / > 3.65< / >< / > Amaroq< / > 1.21< / > 0.04< / > 3.42< / >< / > Hunting< / > 4.09< / > 0.14< / > 3.41< / >< / > | 下跌< / >< / > Hays< / > 0.56< / > -0.08< / > -12.84< / >< / > AEP Plantations< / > 1.77< / > -0.20< / > -10.08< / >< / > Michael Page< / > 1.94< / > -0.18< / > -8.49< / >< / > Baltic Classifieds Group< / > 1.92< / > -0.07< / > -3.47< / >< / > Raspberry Pi Holdings< / > 6.43< / > -0.21< / > -3.16< / > |

货币

涨跌幅最大股票 | 收盘价< / > 当日涨跌< / > 当日涨跌%< / > | 上涨< / >< / > 野村综合研究所< / > 5613.00< / > 272.00< / > 5.09< / >< / > 趋势科技< / > 7587.00< / > 355.00< / > 4.91< / >< / > Screen Holdings< / > 16545.00< / > 635.00< / > 3.99< / >< / > 日本烟草< / > 7230.00< / > 270.00< / > 3.88< / >< / > 任天堂< / > 8146.00< / > 295.00< / > 3.76< / >< / > | 下跌< / >< / > 迅销公司< / > 71780.00< / > -3020.00< / > -4.04< / >< / > 瑞萨电子< / > 3600.00< / > -150.00< / > -4.00< / >< / > 旭化成< / > 1585.50< / > -65.00< / > -3.94< / >< / > 软银集团< / > 5803.00< / > -237.00< / > -3.92< / >< / > 村田制作所< / > 7970.00< / > -297.00< / > -3.59< / > | 下跌股票< / >< / > 18.02< / > Pennon Group< / > 3.23< / > -20.41< / > -32.31< / >< / > 18.47< / > Hays< / > 0.56< / > -10.90< / > -0.53< / >< / > 23.54< / > AEP Plantations< / > 1.77< / > -8.59< / > 28.91< / >< / > 21.36< / > Vistry Group< / > 2.19< / > -8.38< / > -65.89< / >< / > 23.56< / > Inchcape< / > 6.80< / > -7.04< / > -11.57< / >< / > 36.77< / > Playtech< / > 3.60< / > -6.93< / > 26.98< / >< / > 18.50< / > Hill & Smith< / > 30.70< / > -6.83< / > 43.46< / >< / > 1.13< / > Michael Page< / > 1.94< / > -6.73< / > -17.59< / >< / > 49.35< / > Taylor Wimpey< / > 0.73< / > -6.63< / > -31.67< / >< / > 23.91< / > Raspberry Pi Holdings< / > 6.43< / > -6.40< / > 114.36< / > |

富时小盘股指数< / > 价格(£)< / > 周涨跌%< / > 年初至今涨跌%< / >< / > | 上涨< / >< / > Kenmare Resources< / > 2.28< / > 25.69< / > -7.69< / >< / > Capita< / > 2.50< / > 17.92< / > -38.35< / >< / > Aston Martin Lagonda< / > 0.41< / > 14.52< / > -34.95< / >< / > Tullow Oil< / > 0.11< / > 11.56< / > 81.82< / >< / > EnQuest< / > 0.30< / > 9.39< / > 180.19< / >< / > Fevara< / > 1.49< / > 8.79< / > 11.24< / >< / > ASA International< / > 2.48< / > 8.30< / > 30.87< / >< / > Braemar< / > 2.45< / > 6.99< / > 13.95< / >< / > Mortgage Advice Bureau< / > 3.58< / > 6.72< / > -48.04< / >< / > Applied Nutrition< / > 2.81< / > 6.43< / > 11.71< / > |

行业板块< / > 价格(£)< / > 周涨跌%< / > 年初至今涨跌%< / >< / > | 上涨< / >< / > 软件与计算机服务< / > 1960.38< / > 7.99< / > -3.99< / >< / > 技术< / > 1716.63< / > 7.89< / > -3.69< / >< / > 房地产投资与服务< / > 1988.83< / > 7.78< / > -7.14< / >< / > 消费者数字服务< / > 179.55< / > 7.72< / > -6.07< / >< / > 个人护理、药品与杂货< / > 4895.28< / > 6.27< / > -0.52< / >< / > 金融与信贷服务< / > 14048.46< / > 6.06< / > -2.99< / >< / > 烟草< / > 45896.59< / > 6.04< / > -3.41< / >< / > 消费者必需品< / > 18357.89< / > 5.86< / > 0.12< / >< / > 石油、天然气与煤炭< / > 12033.69< / > 5.26< / > 38.45< / >< / > 能源< / > 12650.75< / > 5.22< / > 38.48< / > |

跌幅最大者 | 32.31< / > The Smarter Web Company< / > 0.62< / > -19.91< / >< / > -0.53< / > Hostelworld Group< / > 0.89< / > -14.81< / >< / > 28.91< / > Aptitude Software Group< / > 2.40< / > -10.78< / >< / > 65.89< / > ASOS< / > 4.55< / > -9.26< / >< / > 11.57< / > The Beauty Tech Group< / > 4.41< / > -5.97< / >< / > 26.98< / > Geiger Counter< / > 0.52< / > -5.16< / >< / > 43.46< / > Baker Steel Resources Tst< / > 1.30< / > -5.11< / >< / > 17.59< / > abrdn Euro Logistics< / > 0.10< / > -4.72< / >< / > 31.67< / > JPMorgan Asia Gwth & Inc< / > 5.82< / > -4.59< / >< / > 14.36< / > Marshalls< / > 1.60< / > -4.30< / > | 跌幅最大行业< / >< / > 替代能源< / > 38.24< / > -10.85< / > 73.89< / >< / > 技术硬件与设备< / > 129.88< / > -6.40< / > 114.36< / >< / > 电信服务提供商< / > 3224.25< / > -5.69< / > 12.43< / >< / > 电信< / > 2066.89< / > -5.69< / > 12.43< / >< / > 航空航天与国防< / > 22872.30< / > -4.47< / > 13.92< / >< / > 家用商品与家居建设< / > 7996.39< / > -2.96< / > -25.86< / >< / > 休闲商品< / > 38937.36< / > -2.51< / > -13.19< / >< / > 银行< / > 8849.65< / > -1.92< / > 11.66< / >< / > 工业< / > 11451.14< / > -1.73< / > 9.48< / >< / > 建筑与材料< / > 15849.76< / > -1.58< / > 15.75< / > |

< rowspan="2">10月12日< / >< rowspan="2">收盘中间价< / > | 美元< / > | 欧元< / > | 英镑< / >< / > 当日涨跌< / > 变动< / > 收盘中间价< / > 当日涨跌< / > 变动< / > 收盘中间价< / > 当日涨跌< / > 收盘中间价< / >< / > 阿根廷比索< / > 1516.7470< / > 0.9786< / > -8.1196< / > 1694.6614< / > -2.3929< / > -14.5616< / > 2005.0038< / > 0.3843< / > < / >< / > 澳大利亚美元< / > 1.4362< / > 0.0025< / > 0.0009< / > 1.604< / > -0.0006< / > -0.0041< / > 1.8895< / > 0.0024< / > < / >< / > 巴林第纳尔< / > 0.3776< / > -< / > 0.0005< / > 3.4219< / > -0.0009< / > 0.0007< / > 0.4891< / > -< / > < / >< / > 玻利维亚玻利维亚诺< / > 11.7230< / > -0.1200< / > -0.0277< / > 13.1059< / > -0.1913< / > -0.3448< / > 1201.5264< / > -0.1658< / > < / >< / > 巴西雷亚尔< / > 4.9873< / > 0.0005< / > 0.0038< / > 5.5723< / > -0.0109< / > -0.0137< / > 6.9300< / > -0.0024< / > < / >< / > 加拿大元< / > 1.4272< / > -0.0002< / > 0.0029< / > 1.5947< / > -0.0035< / > -0.0018< / > 1.8867< / > -0.0011< / > < / >< / > 人民币< / > 976.5008< / > -1.3650< / > 2.7100< / > 1091.5172< / > -3.7753< / > -0.4749< / > 1201.4395< / > -2.3915< / > < / >< / > 人民币< / > 6.6829< / > 0.0006< / > -0.0125< / > 7.4780< / > -0.0147< / > -0.0381< / > 8.8477< / > -0.0032< / > < / >< / > 哥伦比亚

比索 | 3189.0500< / > -2.9800< / > -28.6700< / > 3563.1257< / > -10.6924< / > -43.6168< / > 4215.7649< / > -5.8679< / > < / > | 哥斯达黎加科朗< / > 452.7300< / > -1.7200< / > -5.1700< / > 505.8355< / > -2.4632< / > -7.4249< / > 598.4872< / > -1.9513< / > < / >< / > 捷克共和国< / > 217.816< / > 0.0426< / > -0.0617< / > 24.3145< / > -0.0575< / > -0.0617< / > 21.6391< / > -0.0452< / > < / >< / > 丹麦克朗< / > 6.6893< / > 0.0143< / > 0.0225< / > 7.4751< / > 0.0006< / > 0.0012< / > 8.8443< / > 0.0149< / > < / >< / > 埃及镑< / > 52.5500< / > 0.1800< / > 58.7411< / > 0.0806< / > -0.0058< / > 69.4685< / > 0.2065< / > < / >< / > 香港

元< / > 7.8475< / > -0.0005< / > 0.0003< / > 9.7800< / > -0.0186< / > -0.0178< / > 10.3700< / > -0.0054< / > < / >< / > 匈牙利第纳尔< / > 326.7038< / > 0.1353< / > -1.3595< / > 365.0250< / > -0.6000< / > -2.7000< / > 431.8848< / > -0.1171< / > < / >< / > 印度卢比< / > 95.7750< / > -0.9562< / > -0.5250< / > 107.0094< / > -1.2909< / > -0.9333< / > 126.6098< / > -1.322< / > < / > |

富时精算师股票指数 (FTSE ACTUARIES SHARE INDICES)

< rowspan="2">周变化< / >< rowspan="2">10月12日< / >< rowspan="2">收盘中间价< / > | 美元< / > | 欧元< / > | 英镑< / >< / > 当日变化< / > 周变化< / > 收盘中间价< / > >< / > -11.0386< / > 印尼卢比< / > 17900.0000< / > 20.0000< / > --< / > 19999.6700< / > -18.7790< / > -64.4100< / > 23662.3600< / > 15.7110< / > -3.5800< / > < / >< / > 0.0009< / > 以色列谢克尔< / > 3.0735< / > 0.0105< / > 0.0201< / > 3.4345< / > 0.0548< / > 0.0114< / > 4.0636< / > 0.0121< / > 0.0260< / > < / >< / > -< / > 日元< / > 156.6950< / > 0.2800< / > 0.7350< / > 177.3899< / > -0.0515< / > 0.2325< / > 209.7889< / > 0.2752< / > 0.9401< / > < / >< / > -0.3593< / > Nestle Nippon< / > 123.7000< / > --< / > 0.0502< / > 145.8138< / > -0.2984< / > -0.4250< / > 171.4570< / > -0.0778< / > 0.0404< / > < / >< / > 0.0040< / > 科威特第纳尔< / > 0.3116< / > 0.0005< / > 0.0022< / > 3.3462< / > -0.0002< / > 0.0014< / > 4.4119< / > 0.0004< / > 0.0028< / > < / >< / > 0.0035< / > 马来西亚林吉特< / > 4.0842< / > -0.0008< / > 0.0029< / > 4.5633< / > -0.0103< / > -0.0177< / > 5.3992< / > -0.0034< / > -0.0044< / > < / >< / > 0.0009< / > 墨西哥

比索< / > 18.2655< / > -0.1150< / > 0.1155< / > 20.4380< / > -0.1708< / > 0.0342< / > 24.1483< / > -0.1631< / > 0.1416< / > < / >< / > -0.0179< / > 新西兰元< / > 1.7678< / > 0.0040< / > 0.0016< / > 1.9975< / > 0.0003< / > -0.0047< / > 2.3634< / > 0.0042< / > 0.0018< / > < / >< / > -38.5439< / > 尼日利亚奈拉< / > 1331.4300< / > 0.7300< / > 2.1500< / > 1467.6075< / > -2.2444< / > -2.3832< / > 1760.0657< / > 0.1681< / > 2.5762< / > < / >< / > -6.2935< / > 挪威克朗< / > 9.5646< / > -0.0071< / > -0.0188< / > 10.6865< / > -0.0300< / > -0.0555< / > 13.6459< / > -0.0132< / > -0.0268< / > < / >< / > -0.0001< / > 巴基斯坦

卢比 | 278.8750< / > -0.0500< / > -0.0515< / > 369.5244< / > -0.6839< / > -1.0215< / > 569.6149< / > -0.2222< / > -0.0132< / > < / > | 0.0285< / > 秘鲁新索尔< / > 3.4353< / > -0.0205< / > 0.0105< / > 3.8382< / > -0.0309< / > -0.0006< / > 4.5413< / > -0.0292< / > -0.0132< / > < / >< / > 0.2010< / > 菲律宾比索< / > 62.7650< / > -0.0400< / > 0.1200< / > 10.3787< / > -0.1891< / > -0.0914< / > 82.9722< / > -0.0926< / > 0.1461< / > < / >< / > -0.0112< / > 波兰 1 元< / > 3.9344< / > 0.0058< / > 0.0127< / > 3.8466< / > -0.0025< / > 0.0542< / > 18.1876< / > 0.0054< / > 0.0392< / > < / >< / > -1.8627< / > 罗马尼亚

列伊< / > 4.7754< / > 0.0044< / > 0.0096< / > 5.3356< / > -0.0061< / > -0.0064< / > 6.3129< / > 0.0029< / > 0.0118< / > < / >< / > -0.7133< / > 俄罗斯卢布< / > 83.9000< / > -0.8500< / > -1.1000< / > 93.7415< / > -1.1447< / > -1.5351< / > 110.9116< / > -1.1746< / > -1.4712< / > < / > |

富时行业指数：领涨与领跌

年初至今百分比变化

< rowspan="2">10月12日< / > | 美元< / > | 欧元< / > | 英镑< / >< / > 收盘中间价< / > 当日涨跌< / > 本周涨跌< / > 收盘中间价< / >< / > 沙特里亚尔< / > 3.7557< / > -0.0001< / > 0.0015< / > 4.1962< / > -0.0088< / > -0.0119< / > 4.9649< / > -0.0024< / > 0.0012< / > < / >< / > 新加坡元< / > 1.2807< / > -0.0007< / > 0.0010< / > 1.4309< / > -0.0037< / > -0.0035< / > 1.6929< / > -0.0017< / > 0.0011< / > < / >< / > 南非

兰特< / > 16.5475< / > 0.0100< / > -0.1323< / > 18.4886< / > -0.0268< / > -0.2079< / > 21.8749< / > 0.0033< / > -0.1783< / > < / >< / > 韩国韩元< / > 1335.1000< / > -7.4000< / > -8.3000< / > 1491.7072< / > -11.5559< / > -15.2309< / > 1764.9355< / > -10.5981< / > -12.5632< / > < / >< / > 瑞典克朗< / > 10.003< / > 0.0167< / > -0.0142< / > 11.1998< / > -0.0010< / > -0.0230< / > 13.7260< / > 0.0031< / > -0.0037< / > < / >< / > 瑞士法郎< / > 0.8343< / > 0.0029< / > 0.9322< / > 0.0014< / > 0.0003< / > 1.1029< / > 0.0034< / > 0.0037< / > < / >< / > 台湾

元< / > 31.9675< / > 0.0370< / > 0.2090< / > 35.7172< / > -0.0321< / > 0.1192< / > 42.2585< / > 0.0298< / > 0.2699< / > < / >< / > 泰铢< / > 33.6200< / > 0.0850< / > -0.0600< / > 37.5606< / > 0.0178< / > -0.1883< / > 44.4440< / > 0.0922< / > -0.0861< / > < / >< / > 突尼斯第纳尔< / > 3.0124< / > 0.0071< / > 0.0005< / > 3.3657< / > 0.0010< / > -0.0626< / > 4.8823< / > 0.0076< / > 0.0147< / > < / >< / > 土耳其里拉< / > 49.3270< / > -0.0153< / > 0.1730< / > 55.1133< / > -0.1305< / > 0.0164< / > 65.2078< / > -0.0497< / > 0.2189< / > < / >< / > 阿联酋迪拉姆< / > 3.6730< / > -< / > 0.0002< / > 4.1037< / > -0.0086< / > -0.0131< / > 4.8556< / > -0.0023< / > -0.0005< / > < / >< / > 英镑

英镑 | 0.7565< / > 0.0003< / > 0.0001< / > 0.8452< / > -0.0014< / > -0.0026< / > 1.0000< / > -< / > < / > | 美元< / > 1.0000< / > -< / > 1.1173< / > -0.0023< / > -0.0036< / > 1.3219< / > -0.0006< / > -0.0002< / > < / >< / > 越南盾< / > 25937.0000< / > 56.0000< / > -66.0000< / > 28979.4100< / > 3.9420< / > -167.3520< / > 34787.4170< / > 58.5000< / > -32.4500< / > < / >< / > 欧元< / > 0.8950< / > 0.0018< / > 0.0029< / > 1.0000< / > -< / > 1.1831< / > 0.0019< / > 0.0036< / > < / > |

科技硬件与设备< / > 114.36< / >< / > 替代能源< / > 73.89< / >< / > 能源< / > 38.48< / >< / > 石油、天然气与煤炭< / > 38.45< / >< / > 工业金属与采矿< / > 30.67< / >< / > 非寿险< / > 29.56< / >< / > 医疗保健提供商< / > 26.45< / >< / > 基础材料< / > 26.65< / >< / > 工业运输< / > 18.27< / >< / > 化学品< / > 19.24< / >< / > 电子与电气设备< / > 16.71< / >< / > 建筑与材料< / > 10.76< / >< / > 航空航天与国防< / > 13.92< / >< / > 通用工业< / > 13.35< / >< / > 电信服务提供商< / > 12.43< / >< / > 电信< / > 12.43< / >< / > 封闭式

投资< / > 11.85< / >< / > 银行< / > 11.68< / >< / > 电力< / > 10.15< / > |

公司名称

Petra Diamonds Ltd

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英国近期配股发行

富时全球指数 (FTSE GLOBAL INDICES)

6 | 工业< / > | 8< / > 饮料< / >< / > 8< / > 金融< / >< / > 5< / > 金融（不含投资公司）< / >< / > 7< / > 媒体< / >< / > 6< / > 零售商< / >< / > 6< / > 公用事业< / >< / > 5< / > 工业工程< / >< / > 7< / > 生物技术< / >< / > 7< / > 旅游与休闲< / >< / > 7< / > 食品生产商< / >< / > 5< / > 燃气、水及综合公用事业< / >< / > 2< / > 消费必需品< / >< / > 5< / > 房地产投资信托< / >< / > 3< / > 消费者服务< / >< / > 3< / > 个人护理、药品及杂货< / >< / > 5< / > 可选消费< / >< / > 6< / > 房地产< / >< / > 5< / > 工业支持服务< / > |

事件

配股发行：每持有 17 股可认购 10 股，认购价每股 16.5p，须在 11 月 21 日前全额支付（前次记录 07.11.25）。

富时 100 指数摘要 (FTSE 100 SUMMARY)

10 月 09 日区域与国家< / > 股票数量< / > 美元指数< / > 当日 %变动< / > 当月 %变动< / > 年初至今 %变动< / > 美元总回报< / > 年初至今 %总回报< / > 总股息率< / >< / > | 富时全球行业指数< / >< / > 全球< / > 10218< / > 1261.24< / > 0.64< / > -0.23< / > 12.61< / > 2182.21< / > 14.21< / > 1.60< / >< / > 全球大盘股< / > 1743< / > 1190.99< / > 0.59< / > 0.34< / > 13.17< / > 2120.35< / > 14.71< / > 1.47< / >< / > 全球中盘股< / > 2461< / > 1416.36< / > 0.84< / > -1.35< / > 12.02< / > 2243.29< / > 12.83< / > 1.62< / >< / > 全球小盘股< / > 6014< / > 1407.02< / > 0.69< / > -2.68< / > 9.59< / > 2188.00< / > 11.23< / > 1.83< / >< / > 全球（不含欧元区）< / > 9613< / > 1343.76< / > 0.65< / > 0.24< / > 13.50< / > 2265.63< / > 15.01< / > 1.51< / >< / > 全球（不含中国）< / > 7602< / > 4264.63< / > 0.62< / > -0.13< / > 13.52< / > 7069.11< / > 15.11< / > 1.58< / >< / > 全球（不含美国）< / > 8673< / > 863.19< / > 0.67< / > -3.78< / > 10.44< / > 1601.75< / > 12.93< / > 2.48< / >< / > 全球（不含英国）< / > 3996< / > 1339.35< / > 0.63< / > -0.12< / > 12.89< / > 2267.69< / > 14.44< / > 1.55< / >< / > 全球（不含日本）< / > 8668< / > 1317.39< / > 0.67< / > -0.12< / > 12.26< / > 2286.69< / > 13.80< / > 1.57< / >< / > | 富时区域行业指数< / >< / > 美洲< / > 1988< / > 1770.53< / > 0.66< / > 1.76< / > 13.77< / > 2758.86< / > 14.87< / > 1.18< / >< / > 亚太< / > 5430< / > 920.93< / > 0.43< / > -2.85< / > 18.26< / > 1660.91< / > 20.51< / > 2.04< / >< / > 亚太（不含日本）< / > 5080< / > 1153.49< / > 0.56< / > -3.30< / > 18.10< / > 2302.03< / > 20.24< / > 2.05< / >< / > 欧洲< / > 1434< / > 666.92< / > 0.50< / > -5.30< / > 1.94< / > 1600.91< / > 4.67< / > 2.91< / >< / > 欧洲（不含< / >

英国 | 7212< / > 768.67< / > 0.81< / > -5.88< / > 1.23< / > 1600.91< / > 3.95< / > 2.84< / > | 欧元区< / > 605< / > 692.59< / > 0.57< / > -6.30< / > 1.61< / > 1477.08< / > 4.24< / > 2.83< / >< / > 东盟< / > 402< / > 725.71< / > 0.44< / > -6.58< / > 2.83< / > 1618.23< / > 6.81< / > 4.70< / >< / > | 富时发达国家行业指数< / >< / > 发达国家< / > 5370< / > 1309.81< / > 0.63< / > -0.04< / > 12.96< / > 2239.42< / > 14.48< / > 1.51< / >< / > 发达国家（不含北美）< / > 3608< / > 751.40< / > 0.55< / > -4.53< / > 11.10< / > 1519.10< / > 13.76< / > 2.56< / >< / > | 板块< / >< / > 股票数量< / > 美元指数< / > 当日%变化< / > 月%变化< / > 年初至今%变化< / > 美元总回报< / > 年初至今%总回报< / > 股息收益率< / > < / > | 数字信息服务< / >< / > 软件与计算机服务< / > 527< / > 3784.82< / > 1.96< / > 7.60< / > 5.42< / > 4608.59< / > 5.93< / >< / > 媒体< / > 153< / > 788.67< / > -0.21< / > -1.38< / > -13.37< / > 1135.02< / > -12.70< / >< / > | 技术< / >< / > 半导体< / > 300< / > 945.51< / > -0.52< / > 2.33< / > 51.58< / > 1035.68< / > 52.25< / >< / > 技术硬件与设备< / > 768< / > 7252.83< / > 0.51< / > -2.51< / > -1.53< / > 1053.51< / > 51.33< / >< / > 技术< / > 1293< / > 5152.72< / > 0.42< / > 5.08< / > 29.48< / > 6821.68< / > 30.10< / >< / > 生物技术< / > 216< / > 122.70< / > 2.54< / > -0.86< / > 15.65< / > 125.32< / > 16.02< / >< / > 电信设备< / > 112< / > 584.70< / > 1.35< / > 1.74< / > 74.89< / > 676.70< / > 76.33< / >< / > 电子与电气设备< / > 257< / > 543.47< / > 1.08< / > -3.59< / > 31.95< / > 314.39< / > 34.39< / >< / > 电信服务提供商< / > 145< / > 416.47< / > -4.45< / > -9.98< / > -5.02< / > 935.00< / > -1.80< / >< / > 电子与电气设备< / > 360< / > 2113.69< / > 0.76< / > 0.01< / > 23.84< / > 3051.74< / > 24.99< / >< / > | 金融< / >< / > 金融与信贷服务< / > 111< / > 841.59< / > 0.81< / > -6.75< / > -15.07< / > 1320.58< / > -13.95< / >< / > 金融< / > 1160< / > 689.24< / > 0.52< / > -5.98< / > 4.30< / > 1442.22< / > 7.02< / >< / > 人寿保险< / > 71< / > 637.42< / > 0.42< / > -4.32< / > 7.19< / > 1337.63< / > 10.68< / >< / > 银行< / > 497< / > 505.85< / > 0.35< / > -7.05< / > 8.44< / > 1182.42< / > 11.68< / >< / > 住宅房地产投资信托< / > 7< / > 80.77< / > -0.00< / > -22.95< / > -2.25< / > 1449.94< / > -14.99< / >< / > 非寿险< / >

保险 | 125< / > 1034.87< / > 0.05< / > -3.60< / > 0.15< / > 18727.50< / > 3.30< / > | 投资银行与经纪服务< / > 349< / > 1200.80< / > 1.12< / > -4.93< / > 0.73< / > 1934.37< / > 2.21< / >< / > 交易处理服务< / > 55< / > 147.26< / > 1.68< / > 1.47< / > -1.27< / > 154.66< / > -0.53< / >< / > | 房地产< / >< / > 房地产< / > 642< / > 885.13< / > 1.22< / > -5.02< / > -3.01< / > 1086.93< / > -0.07< / >< / > 房地产投资与服务< / > 319< / > 323.82< / > 0.60< / > -6.23< / > -14.64< / > 667.61< / > -12.60< / >< / > 房地产投资信托< / > 323< / > 527.69< / > 1.42< / > -4.63< / > 1.33< / > 1456.20< / > 4.62< / >< / > | 消费品与服务< / >< / > 消费数字化服务< / > 94< / > 339.48< / > 0.95< / > 6.25< / > 4.55< / > 344.38< / > 4.83< / >< / > 可选消费< / > 1486< / > 1179.24< / > 1.18< / > -0.38< / > -5.86< / > 1714.55< / > -4.91< / >< / > 消费服务< / > 70< / > 1361.98< / > 1.30< / > 1.20< / > -6.22< / > 1859.24< / > -5.55< / >< / > 零售必需品< / > 612< / > 974.23< / > 0.49< / > -2.76< / > 2.48< / > 2674.53< / > 5.38< / >< / > 零售商< / > 263< / > 1941.76< / > 1.66< / > 2.01< / > 2.48< / > 2674.53< / > 3.14< / >< / > 个人护理、药品与杂货< / > 198< / > 555.72< / > 0.34< / > -0.15< / > -0.18< / > 932.82< / > 1.94< / >< / > 个人用品< / > 138< / > 733.40< / > 1.15< / > -4.90< / > -20.47< / > 1141.66< / > -19.06< / >< / > 旅游与休闲< / > 153< / > 637.92< / > -0.27< / > -1.22< / > -1.54< / > 1449.94< / > -1.47< / >< / > 旅游与休闲< / > 290< / > 1100.86< / > 0.26< / > -3.50< / > -8.98< / > 1626.92< / > -7.80< / > |

3.48< / > 贵金属与采矿< / > -2.94< / >< / > 7.88< / > 金融与信贷服务< / > -2.99< / >< / > 7.67< / > 烟草< / > -3.41< / >< / > 6.83< / > 技术< / > -3.69< / >< / > 5.47< / > 软件与计算机服务< / > -3.99< / >< / > 5.29< / > 人寿保险< / > -4.66< / >< / > 4.53< / > 消费数字化服务< / > -6.07< / >< / > 3.76< / > 个人用品< / > -6.47< / >< / > 3.06< / > 房地产投资与服务< / > -7.14< / >< / > 2.65< / > 投资银行与经纪< / > -7.18< / >< / > 0.12< / > 制药与生物技术< / > -9.48< / >< / > -0.17< / > 医疗保健< / > -9.51< / >< / > -0.52< / > 医疗设备与服务< / > -12.62< / >< / > -1.11< / > 休闲用品< / > -13.19< / >< / > -1.13< / > 家用物品与家居建设< / > -25.86< / > |

Oct 09区域与国家 | 股票数量< / > 美元指数< / > 当日%变化< / > 当月%变化< / > 年初至今%变化< / > 年初至今%总回报< / > 股息率< / > | 发达国家（除加拿大）< / > 5153< / > 1316.52< / > 0.60< / > 0.10< / > 13.13< / > 2245.15< / > 14.64< / > 2.49< / >< / > 发达国家（除欧洲）< / > 4158< / > 1547.16< / > 0.58< / > 0.88< / > 15.08< / > 2455.60< / > 16.34< / > 1.27< / >< / > 发达国家（除欧元区）< / > 4765< / > 1410.46< / > 0.63< / > 0.51< / > 14.01< / > 2339.62< / > 15.42< / > 1.40< / >< / > 发达国家（除美国）< / > 3825< / > 781.45< / > 0.62< / > -4.45< / > 10.77< / > 1568.38< / > 13.34< / > 2.50< / >< / > 发达国家（除英国）< / > 5148< / > 1400.71< / > 0.61< / > 0.09< / > 13.29< / > 2333.71< / > 14.76< / > 1.45< / >< / > 发达国家（除日本）< / > 4203< / > 1379.45< / > 0.66< / > 0.09< / > 12.59< / > 2375.79< / > 14.04< / > 1.47< / >< / > 发达国家亚太地区< / > 2303< / > 850.31< / > 0.18< / > -3.70< / > 24.93< / > 1534.96< / > 27.46< / > 2.13< / >< / > 发达国家亚太地区（除日本）< / > 953< / > 1108.60< / > 0.24< / > -5.90< / > 33.74< / > 2444.11< / > 36.39< / > 2.27< / >< / > 发达国家欧洲< / > 1217< / > 455.77< / > 0.87< / > -5.15< / > 1.88< / > 1476.60< / > 4.60< / > 3.24< / >< / > 发达国家欧洲（除英国）< / > 990< / > 800.39< / > 0.81< / > -5.62< / > 1.11< / > 1661.88< / > 3.84< / > 2.84< / >< / > 发达国家欧元区< / > 605< / > 688.01< / > 0.57< / > -6.30< / > 1.40< / > 1467.18< / > 4.03< / > 2.83< / >< / > 发达国家欧洲亚太地区< / > 3515< / > 753.26< / > 0.56< / > -4.50< / > 11.09< / > 1523.80< / > 13.77< / > 2.56< / >< / > | 富时新兴市场指数< / >< / > 新兴市场< / > 4848< / > 1088.38< / > 0.80< / > -1.91< / > 9.57< / > 2119.36< / > 11.83< / > 2.43< / >< / > 新兴市场亚太地区< / > 4127< / > 1221.61< / > 0.76< / > -1.69< / > 10.36< / > 2237.36< / > 12.27< / > 1.92< / >< / > 新兴市场欧洲< / > 222< / > 319.32< / > 1.20< / > -15.34< / > 3.29< / > 726.97< / > 5.96< / > 3.03< / >< / > 新兴市场（含韩国）< / > 5290< / > 4236.43< / > 0.56< / > -2.73< / > 18.68< / > 797.12< / > 20.84< / > 2.13< / >< / > 新兴市场西班牙与波兰< / > 2705< / > 1047.16< / > 0.33< / > -2.48< / > 11.15< / > 3736.68< / > 15.26< / > 2.48< / >< / > 高级新兴市场< / > 1199< / > 1587.61< / > 0.40< / > 1.36< / > 45.71< / > 3460.97< / > 48.85< / > 2.43< / >< / > 次级新兴市场< / > 3649< / > 958.93< / > -1.52< / > -10.06< / > 36.29< / > 1701.37< / > -11.53< / > 2.44< / > |

英国公司业绩

Oct 09< / > | 数量< / >< rowspan="2">美元< / >< rowspan="2">当日%变化< / >< ="2">当月%变化< / >< ="2">年初至今%变化< / >< ="2">美元总回报< / >< ="2">年初至今%总回报< / >< ="2">综合股息率< / >< / > 行业< / > 股票< / > 指数< / >< / > 家用商品与家居商业< / > 119< / > 500.20< / > -0.35< / > -4.30< / > -6.84< / > 862.50< / > -5.17< / > 2.29< / > < / >< / > 烟草< / > 13< / > 1421.17< / > 0.78< / > 5.99< / > 15.18< / > 4542.03< / > 19.18< / > 4.40< / > < / >< / > < ="10">医疗保健< / >< / > 医疗保健< / > 843< / > 1171.93< / > 1.53< / > 0.83< / > 5.64< / > 1856.13< / > 7.18< / > 1.60< / > < / >< / > 医疗保健

服务提供商 | 114< / > 1806.86< / > 2.27< / > 0.11< / > 10.90< / > 2363.79< / > 12.29< / > 1.55< / > < / > | 制药与生物技术< / > 537< / > 1033.09< / > 1.53< / > 0.31< / > 10.37< / > 7785.73< / > 12.24< / > 1.81< / > < / >< / > 医疗设备与服务< / > 198< / > 1666.05< / > 1.16< / > 2.82< / > -8.25< / > 2044.75< / > -7.48< / > 1.00< / > < / >< / > | 农业食品与饮料< / >< / > 食品生产商< / > 300< / > 613.54< / > 0.07< / > -5.05< / > -2.57< / > 1103.74< / > 0.21< / > 3.30< / > < / >< / > 饮料< / > 103< / > 841.49< / > 0.14< / > -1.70< / > 6.26< / > 1515.26< / > 8.57< / > 2.98< / > < / >< / > | 能源< / >< / > 能源< / > 376< / > 717.72< / > 0.19< / > -1.10< / > 34.15< / > 1559.79< / > 37.47< / > 2.93< / > < / >< / > 电力< / > 253< / > 648.57< / > 0.86< / > -2.88< / > 0.03< / > 1529.85< / > 2.75< / > 2.95< / > < / >< / > 替代电力< / > 91< / > 97.20< / > 0.73< / > -2.70< / > 5.16< / > 121.42< / > 7.45< / > 3.56< / > < / >< / > 化学与石油化工< / > 69< / > 368.39< / > 1.33< / > -6.91< / > -1.03< / > 498.69< / > 1.41< / > < / >< / > 石油、天然气与煤炭< / > 307< / > 747.62< / > 0.14< / > -0.80< / > 36.41< / > 1892.07< / > 39.98< / > 3.05< / > < / >< / > 天然气、水与综合公用事业< / > 119< / > 684.03< / > 0.39< / > -4.01< / > 0.64< / > 733.39< / > -3.49< / > 3.68< / > < / >< / > 公用事业< / > 413< / > 674.20< / > 0.64< / > -3.22< / > 0.03< / > 1615.02< / > 2.35< / > 3.04< / > < / >< / > | 交通运输< / >< / > 汽车与零部件< / > 300< / > 1051.76< / > 1.21< / > -1.68< / > -13.50< / > 1734.00< / > -12.30< / > 1.54< / > < / >< / > 工业运输< / > 384< / > 1359.91< / > 0.64< / > -4.18< / > 8.54< / > 2380.11< / > 10.70< / > 2.38< / > < / >< / > | 工业< / >< / > 航空航天与国防< / > 105< / > 2705.20< / > 0.87< / > -5.74< / > -6.61< / > 4137.31< / > -9.88< / > 1.21< / > < / >< / > 建筑工程< / > 347< / > 2301.35< / > 0.23< / > -3.49< / > -17.89< / > 3656.65< / > 19.21< / > 1.40< / > < / >< / > 工业材料< / > 92< / > 272.54< / > 0.41< / > -4.97< / > -2.03< / > 541.50< / > -0.12< / > 2.95< / > < / >< / > 工业金属与采矿< / > 388< / > 1083.93< / > 1.47< / > -8.74< / > -17.08< / > 2128.51< / > 19.36< / > 2.37< / > < / >< / > 工业支持服务< / > 232< / > 1285.93< / > 1.54< / > 1.02< / > 0.06< / > 1860.23< / > 1.26< / > 1.31< / > < / >< / > 工业< / > 2101< / > 1255.56< / > 0.82< / > -2.36< / > 6.43< / > 2442.43< / > 7.77< / > 1.48< / > < / >< / > 通用

工业 | 202< / > 939.21< / > 0.70< / > -1.08< / > 14.63< / > 1688.99< / > 16.49< / > 1.62< / > < / > | 资源与材料< / >< / > 基础材料< / > 1035< / > 1028.08< / > 1.24< / > -7.08< / > 12.14< / > 1917.27< / > 14.23< / > 2.17< / > < / >< / > 化学品< / > 457< / > 1072.14< / > 0.99< / > -1.50< / > 15.92< / > 1303.38< / > 18.14< / > 2.11< / > < / >< / > 电子与材料< / > 115< / > 1350.50< / > 0.53< / > -4.70< / > -4.46< / > 2246.46< / > -11.11< / > 1.74< / > < / >< / > 废物与处置服务< / > 41< / > 402.86< / > -0.32< / > -3.09< / > -2.12< / > 445.37< / > -1.05< / > 1.32< / > < / >< / > 贵金属与采矿< / > 98< / > 1445.51< / > 2.67< / > -11.69< / > 1.73< / > 2574.53< / > 3.34< / > 1.81< / > < / > |

公司< / > 营业额(£)< / >< / > Ashoka India Equity Inv Trust*< / > Fin - (-)< / >< / > Fidelity Emerging Markets $*< / > Fin - (-)< / >< / > JPMorgan Global Growth & Income*< / > Fin - (-)< / >< / > Maven Renovar VCT*< / > Int - (-)< / >< / > Netcall*< / > Fin 57.7m (48.0m)< / >< / > Next 15 Group*< / > Int 299.4m (316.1m)< / >< / > Scancell*< / > Int - (4.7m)< / >< / > Schroder Japan Trust*< / > Fin - (-)< / >< / > Tesco*< / > Int 374亿 (360亿)< / >< / > Volution Grp*< / > Fin 484.8m (419.1m)< / > |

< / > 收盘价 (p)< / > 涨跌幅%< / > 收盘价 (p)< / > 涨跌幅%< / >< / > 3i Group< / > 2398.00< / > -0.17< / > 洲际酒店 (InterCont'l Hotels)< / > 13016.30< / >< / > Aberdeen Group< / > 244.20< / > 0.49< / > 国际综合航空公司 (Intl Cons Airlines)< / > 419.00< / >< / > Admiral< / > 3670.00< / > 1.27< / > Intermark Group< / > 5985.00< / >< / > Airnl Africa< / > 289.60< / > -0.21< / > Investor< / > 554.50< / >< / > Alliance Witan< / > 1408.00< / > 0.36< / > Ithaca Energy< / > 287.20< / >< / > Anglo American< / > 4184.00< / > 0.34< / > JD Sports Fashion< / > 85.70< / >< / > Antofagasta< / > 3800.00< / > 0.80< / > Kingfisher< / > 319.10< / >< / > Associated British Foods< / > 1856.00< / > 1.14< / > Land Securities< / > 611.50< / >< / > AstraZeneca< / > 12302.06< / > 0.23< / > Legal & General< / > 290.80< / >< / > Autostrader Group< / > 495.30< / > 1.35< / > Lion Finance< / > 12720.00< / >< / > Aviva< / > 687.40< / > 1.54< / > Lloyds Big Gp< / > 104.00< / >< / > Babcock Intl< / > 910.20< / > -0.33< / > LondonMetrie Prop< / > 174.00< / >< / > BAE Systems< / > 1882.50< / > 1.21< / > Lion Stock Ex< / > 8760.00< / >< / > Balfour Beatty< / > 881.00< / > 0.57< / > MBG< / > 307.40< / >< / > Berclays< / > 437.60< / > 1.85< / > Malls & Sopen< / > 401.80< / >< / > Barrett Redrow< / > 291.40< / > 0.34< / > Melrose Ind< / > 449.80< / >< / > BP< / > 588.00< / > 0.29< / > Metris Energy< / > 4129.65< / >< / > Brit.

Amer. Tobacco | 4194.00< / > --< / > Net Grid< / > 1164.50< / > | British Land< / > 394.40< / > 1.49< / > NatWest Group< / > 653.60< / >< / > BT Group< / > 194.70< / > 1.01< / > Next< / > 14720.00< / >< / > Bund< / > 2730.00< / > -0.29< / > Pearson< / > 1304.00< / >< / > Burberry< / > 1044.00< / > 1.90< / > Pershing Square Hldgs< / > 3780.00< / >< / > Centrica< / > 148.05< / > 0.48< / > Polar CapTech< / > 693.00< / >< / > Coca-Cola Europac< / > 7920.00< / > 0.57< / > Prudential< / > 901.00< / >< / > Coca-Cola HBC AG< / > 4350.00< / > 1.59< / > Reckitt Benckiser< / > 5216.00< / >< / > Compass< / > 2355.61< / > -0.15< / > RELX< / > 2760.00< / >< / > Computacenter< / > 5600.00< / > 0.90< / > Rentokil

Initial< / > 305.90< / >< / > Convatec< / > 238.60< / > 4.80< / > Rio Tinto< / > 7144.00< / >< / > Croda International< / > 3417.00< / > 0.80< / > Rolls-Royce< / > 1285.60< / >< / > DCC Energy< / > 6435.00< / > 0.16< / > Sainsbury UJ< / > 338.30< / >< / > Diageo< / > 1673.00< / > 2.14< / > Scot Mort Inv Tot< / > 1641.50< / >< / > Diploma< / > 7670.00< / > 1.09< / > Segro< / > 932.40< / >< / > easyJet< / > 677.40< / > -0.38< / > Severn Trent< / > 3126.00< / >< / > Endeavour Mining< / > 4169.00< / > 1.04< / > Shell< / > 3036.00< / >< / > Experian< / > 2698.00< / > 0.60< / > Smith & Nephew< / > 1038.00< / >< / > F&C Inv Trust< / > 351.40< / > 0.23< / > Smiths

Gp< / > 2769.00< / >< / > Fresnillo< / > 2756.00< / > --< / > Spirax Group< / > 7275.00< / >< / > Games Works< / > 16560.00< / > 1.04< / > SSE< / > 2477.00< / >< / > Glencore< / > 586.30< / > 0.29< / > Standard Chartered< / > 2159.00< / >< / > GSK< / > 1771.00< / > 1.20< / > Standard Life< / > 858.00< / >< / > Haleon< / > 354.80< / > 1.60< / > St. James's Place< / > 1042.50< / >< / > Halma< / > 3540.00< / > 1.34< / > Tata< / > 511.00< / >< / > Hiscox< / > 1865.00< / > 0.97< / > The Sage Gp< / > 1084.50< / >< / > Howden Joinery< / > 767.50< / > 0.66< / > Tritax Big Box< / > 141.00< / >< / > HSBC< / > 1428.40< / > 2.34< / > Unilever< / > 4738.00< / >< / > ICG< / > 1799.00< / > -0.50< / > Utd.

Utilities< / > 1435.00< / >< / > IG Group< / > 976.50< / > -1.86< / > Vodafone< / > 116.70< / >< / > IMI< / > 3110.00< / > 0.58< / > Weir< / > 2680.00< / >< / > Imperial Brands< / > 2664.00< / > 0.08< / > Whitbread< / > 2510.00< / >< / > Informa< / > 674.00< / > -2.41< / > WPP< / > 378.60< / > |

英国近期新增股票

< / > 收盘价 (p)< / > 涨跌幅%< / > < / > 收盘价 (p)< / > 涨跌幅%< / >< / > 1947 Oil & Gas< / > 9.55< / > -0.52< / > iForex Financial< / > 140.00< / > -3.45< / >< / > Aimia< / > 141.00< / > -< / > Mendell Helium< / > 3.80< / > -2.56< / >< / > ATC Music Grp< / > 187.50< / > -< / > Meridian Mining< / > 129.50< / > 4.86< / >< / > Braware Solutions< / > 164.50< / > -< / > Petrox Comms< / > 21.50< / > -15.69< / >< / > Chaleit Holdings< / > 69.00< / > -< / > Rift Helium< / > 6.50< / > 1.56< / >< / > Coastal Africa Group< / > 225.00< / > 12.50< / > Serval Resources< / > 30.50< / > -< / >< / > Comish Metals< / > 104.00< / > -0.48< / > Sintana Energy< / > 21.00< / > -< / >< / > Dauch

Corp | 416.00< / > -2.35< / > Sunbelt Rentals< / > 5770.00< / > 2.27< / > | EDX Medical Group< / > 7.50< / > -6.25< / > Tapir Holdings< / > 50.00< / > 3.09< / >< / > Halo Minerals< / > 8.25< / > -< / > The Smarter Web Co< / > 61.67< / > -2.11< / > |

英国 (USD)

FT GLOBAL 500：全球最大公司

< rowspan="2">股票< / > | 52周< / >< / > 价格< / > + / 涨跌< / > 最高< / > 最低< / > 收益率< / > 市盈率< / > 市值 (lb)< / >< / > | 澳大利亚 (AUD)< / >< / > ANZ Group Holdings< / > 37.18< / > -0.18< / > 41.00< / > 33.36< / > 5.85< / > 19.10< / > 112.13< / >< / > BHP Group< / > 60.94< / > -0.25< / > 68.77< / > 40.17< / > 3.97< / > 31.48< / > 309.83< / >< / > Commonwealth Bank< / > 149.29< / > 1.17< / > 185.59< / > 146.98< / > 3.38< / > 22.88< / > 249.83< / >< / > CSL Ltd< / > 183.84< / > 2.38< / > 222.47< / > 90.00< / > 2.20< / > 28.59< / > 88.22< / >< / > Macquarie Group< / > 248.37< / > 1.58< / > 267.90< / > 187.31< / > 3.24< / > 25.37< / > 95.28< / >< / > National Australia Bank< / > 37.68< / > -0.12< / > 48.45< / > 35.48< / > 4.51< / > 17.05< / > 117.47< / >< / > Wesfarmers< / > 77.35< / > 1.31< / > 94.70< / > 70.80< / > 2.87< / > 30.52< / > 87.81< / >< / > Wispac Banking< / > 33.72< / > 0.01< / > 43.32< / > 33.46< / > 4.57< / > 16.78< / > 115.33< / >< / > | 比利时 (EUR)< / > |

Aténesses Brasil Indev< / > 66.00< / > 0.22< / > 76.18< / > 30.10< / > 1.17< / > 23.51< / > 123.46< / >< / > | 巴西 (BRL)< / >< / > Itau Unibanco Holding< / > 54.22< / > 0.72< / > 55.43< / > 32.50< / > 0.00< / > 304.59< / >< / > Itau Unibanco Holding Prfd< / > 50.47< / > 1.12< / > 50.85< / > 36.96< / > 0.00< / > 273.00< / >< / > Petroleo Brasileiro< / > 63.06< / > 1.13< / > 62.48< / > 30.96< / > 0.00< / > 55.89< / > 469.31< / >< / > Petroleo Brasileiro Prfd< / > 56.00< / > 0.52< / > 56.75< / > 29.31< / > 0.00< / > 305.00< / >< / > Vale< / > 67.90< / > 0.26< / > 91.62< / > 58.87< / > 0.00< / > 76.51< / > 288.97< / > |

< rowspan="2">股票< / >< rowspan="2">价格< / > | 52周< / >< / > + / -涨跌< / > 最高< / > 最低< / > 收益率< / > 市盈率< / >< / > | 芬兰 (EUR)< / >< / > Nordex Bank Abp< / > 16.73< / > 0.04< / > 18.11< / > 13.81< / > 0.00< / > 12.04< / >< / > | 法国 (EUR)< / >< / > Air Liquide< / > 169.68< / > 1.74< / > 189.80< / > 154.86< / > 1.98< / > 32.52< / >< / > Airbus< / > 187.80< / > 0.54< / > 221.30< / > 157.42< / > 1.70< / > 35.04< / >< / > AAA< / > 41.52< / > 0.10< / > 45.66< / > 36.55< / > 5.59< / > 11.57< / >< / > BNP Paribas A< / > 89.95< / > 0.75< / > 113.82< / > 65.12< / > 8.45< / > 9.40< / >< / > Compagnie de

Saint-Gobain | 64.94< / > 0.18< / > 91.56< / > 63.52< / > 3.54< / > 9.69< / > | Credit Agricole< / > 16.32< / > 0.10< / > 20.40< / > 15.37< / > 0.00< / > 7.49< / >< / > Doverne< / > 58.70< / > -0.58< / > 60.14< / > 57.26< / > 3.83< / > 22.66< / >< / > Dassault Synthons< / > 21.75< / > 0.16< / > 30.36< / > 15.82< / > 1.24< / > 24.17< / >< / > ENSE< / > 22.75< / > 0.04< / > 29.88< / > 18.53< / > 4.53< / > 14.97< / >< / > EnelIndustrials< / > 146.35< / > 3.35< / > 323.80< / > 138.30< / > 2.73< / > 28.14< / >< / > Hermes International< / > 1263.00< / > 20.50< / > 2300.00< / > 1255.00< / > 1.40< / > 29.21< / >< / > Llreal< / > 381.20< / > 7.15< / > 405.80< / > 338.85< / > 1.89< / > 29.99< / >< / > LMV Intl Me Honduras< / > 380.00< / > -0.90< / > 654.70< / > 376.00< / > 3.42< / > 17.38< / >< / > Safran< / > 319.20< / > 5.40< / > 366.50< / > 262.60< / > 1.06< / > 41.61< / >< / > Sorfixi< / > 71.52< / > 0.59< / > 91.15< / > 69.75< / > 5.76< / > 9.13< / >< / > Schneider Electric< / > 266.40< / > 5.30< / > 312.30< / > 220.40< / > 1.58< / > 31.01< / >< / > TotalEnergies< / > 78.53< / > 0.95< / > 81.34< / > 49.24< / > 4.46< / > 11.40< / >< / > Vinci< / > 107.05< / > 0.10< / > 143.15< / > 104.25< / > 4.72< / > 12.38< / > |

Agnico Eagle Miner< / > 269.83< / > 8.36< / > 348.94< / > 188.48< / > 0.95< / > 23.02< / > 137.47< / >< / > Alimentation-Cuze-Net< / > 77.65< / > -0.22< / > 95.15< / > 68.30< / > 1.11< / > 26.68< / > 71.28< / >< / > Bank of Montreal< / > 232.10< / > 3.68< / > 259.20< / > 168.92< / > 2.95< / > 26.41< / > 161.27< / >< / > Bank of Nova Scotia< / > 126.03< / > 1.60< / > 134.50< / > 88.35< / > 3.62< / > 25.93< / > 155.20< / >< / > Brookfield< / > 52.95< / > 0.68< / > 95.76< / > 50.85< / > 0.75< / > 94.55< / > 118.20< / >< / > Brookfield Asset Mgmt< / > 65.52< / > 1.31< / > 82.98< / > 58.09< / > 4.38< / > 37.44< / > 104.65< / >< / > Canadian Imperial Bank< / > 155.63< / > 1.95< / > 172.87< / > 111.45< / > 2.75< / > 20.78< / > 141.31< / >< / > Canadian National Railway< / > 168.06< / > 1.83< / > 185.25< / > 126.05< / > 2.18< / > 29.59< / > 101.53< / >< / > Canadian Natural< / > 70.80< / > 0.96< / > 72.35< / > 41.67< / > 3.53< / > 17.27< / > 145.95< / >< / > Canadian Pacific Airways< / > 120.58< / > 0.58< / > 133.38< / > 96.50< / > 0.82< / > 38.28< / > 106.00< / >< / > Consolidation Software< / > 3003.78< / > 91.76< / > 4081.71< / > 2196.00< / > 0.11< / > 1011.37< / > 63.65< / >< / > Enbridge< / > 66.51< / > 0.17< / > 80.65< / > 62.42< / > 5.83< / > 34.82< / > 150.83< / >< / > FleetBoston

Financial | 63.68< / > 0.63< / > 80.68< / > 52.60< / > 0.68< / > 24.48< / > 100.00< / > | Royal Dutch< / > 273.78< / > 2.91< / > 306.38< / > 200.82< / > 2.57< / > 24.87< / > 380.49< / >< / > Shopify Inc.< / > 243.83< / > 9.64< / > 253.10< / > 129.01< / > 0.00< / > 163.64< / > 294.69< / >< / > 森科能源公司（Suncor）< / > 103.04< / > 2.15< / > 101.45< / > 53.02< / > 2.33< / > 26.90< / > 120.52< / >< / > TC Energy< / > 85.69< / > 0.33< / > 100.18< / > 69.41< / > 4.10< / > 34.28< / > 85.69< / >< / > 多伦多道明银行< / > 164.19< / > 1.96< / > 175.33< / > 109.50< / > 2.68< / > 19.88< / > 277.40< / >< / > Waste

Connections< / > 218.17< / > -1.85< / > 251.45< / > 203.46< / > 0.92< / > 52.57< / > 54.99< / > | 德国 (欧元)< / >< / > adidas AG< / > 149.85< / > 3.35< / > 196.40< / > 129.95< / > 1.87< / > 20.09< / >< / > 安联保险 (Allianz)< / > 417.00< / > 3.60< / > 454.60< / > 338.80< / > 4.10< / > 14.58< / >< / > 巴斯夫 (BASF)< / > 51.68< / > -0.09< / > 55.05< / > 41.48< / > 4.35< / > 28.40< / >< / > 宝马 (BMW)< / > 53.26< / > 1.08< / > 97.92< / > 51.98< / > 8.26< / > 4.48< / >< / > 德意志银行< / > 29.92< / > 0.26< / > 35.84< / > 23.82< / > 3.34< / > 9.47< / >< / > 德意志交易所 (Deutsche Bors)< / > 296.00< / > 3.40< / > 296.80< / > 200.10< / > 1.42< / > 44.92< / >< / > 德国电信 (Deutsche Telekom AG)< / > 24.70< / > -2.13< / > 54.36< / > 23.53< / > 4.05< / > 12.54< / >< / > DHL

集团< / > 56.00< / > 1.05< / > 58.00< / > 39.37< / > 3.39< / > 19.12< / >< / > Deutschland Technologien< / > 58.86< / > -0.04< / > 88.83< / > 31.27< / > 0.59< / > 76.44< / >< / > 梅赛德斯-奔驰集团< / > 39.59< / > 0.56< / > 62.34< / > 38.89< / > 8.84< / > 3.89< / >< / > 默克 (Merck)< / > 137.85< / > 2.15< / > 148.80< / > 100.70< / > 1.60< / > 21.57< / >< / > Muenchenen

Ranch< / > 523.80< / > 4.80< / > 575.60< / > 437.40< / > 4.58< / > 25.01< / >< / > 保时捷 (Porsche)< / > 41.54< / > 0.58< / > 50.66< / > 35.62< / > 2.43< / > 10.52< / >< / > 莱茵金属 (Rheinmetall)< / > 939.10< / > 4.20< / > 1966.00< / > 900.20< / > 1.22< / > 56.88< / >< / > SAP< / > 191.46< / > 6.84< / > 244.30< / > 127.50< / > 1.31< / > 31.18< / >< / > 西门子 (Siemens)< / > 272.10< / > 7.85< / > 291.70< / > 198.00< / > 1.97< / > 25.84< / >< / > 西门子能源 (Siemens Energy)< / > 145.36< / > 2.86< / > 191.66< / > 94.40< / > 0.48< / > 230.73< / >< / > 西门子

医疗系统 (Siemens Healthsysteme)< / > 39.14< / > 0.88< / > 49.71< / > 32.81< / > 2.55< / > 20.49< / >< / > 大众汽车 (Volkswagen)< / > 68.45< / > 1.55< / > 110.20< / > 66.85< / > 7.60< / > 5.15< / >< / > 大众私有 (Volkswagen Privat)< / > 68.00< / > 1.40< / > 109.15< / > 66.60< / > 7.74< / > 5.12< / > |

科威特金融机构墨西哥 (MXN) | 0.77< / > < / > 0.85< / > 0.77< / > 3.13< / > 23.00< / > 15.14< / > | America Movil B< / > 19.67< / > -0.53< / > 24.49< / > 17.48< / > 2.75< / > 0.00< / > 1223.18< / >< / > 墨西哥沃尔玛< / > 47.26< / > 0.01< / > 63.97< / > 44.80< / > 2.45< / > 0.00< / > 624.51< / >< / > | 荷兰 (EUR)< / >< / > Adyen< / > 886.10< / > 24.50< / > 1600.80< / > 772.40< / > 0.00< / > 48.66< / > 28.08< / >< / > ASML Holding< / > 1601.60< / > 29.00< / > 1741.00< / > 813.80< / > 0.49< / > 80.44< / > 621.66< / >< / > 喜力 (Heineken)< / > 71.12< / > 0.34< / > 80.44< / > 63.90< / > 2.70< / > 15.26< / > 40.21< / >< / > ING集团< / > 29.63< / > 0.20< / > 32.40< / > 20.23< / > 3.83< / > 14.96< / > 85.14< / >< / > Praxus N< / > 36.00< / > 1.15< / > 63.94< / > 34.48< / > 0.78< / > 6.81< / > 78.71< / >< / > Magnum冰淇淋公司< / > 15.36< / > -0.09< / > 17.68< / > 11.02< / > 0.00< / > 32.00< / > 9.40< / >< / > 环球音乐集团 NV< / > 14.90< / > 0.22< / > 23.99< / > 13.92< / > 3.49< / > 34.65< / > 27.39< / >< / > | 挪威 (NOK)< / > |

中国农业银行 A< / > 6.98< / > -0.04< / > 8.68< / > 5.79< / > 3.72< / > 8.95< / > 22.28< / >< / > 中国银行 A< / > 6.77< / > -0.04< / > 6.87< / > 5.13< / > 3.46< / > 9.15< / > 16.15< / >< / > 交通银行 A< / > 7.78< / > -0.05< / > 7.87< / > 6.37< / > 4.22< / > 7.20< / > 450.51< / >< / > 中国建设银行 A< / > 10.98< / > -0.17< / > 11.23< / > 8.50< / > 3.68< / > 8.45< / > 232.59< / >< / > 中国人寿 A< / > 36.15< / > 0.21< / > 51.92< / > 32.32< / > 2.70< / > 6.63< / > 752.77< / >< / > 招商银行 A< / > 41.42< / > -0.29< / > 43.79< / > 35.28< / > 4.87< / > 7.27< / > 854.45< / >< / > 中国石油化工 A< / > 5.39< / > -0.09< / > 8.11< / > 4.43< / > 4.03< / > 20.57< / > 523.04< / >< / > 中国神华 A< / > 48.40< / > 0.91< / > 51.18< / > 38.27< / > 4.15< / > 18.20< / > 886.30< / >< / > 长江电力 A< / > 28.99< / > 0.09< / > 29.57< / > 25.38< / > 3.45< / > 20.56< / > 709.33< / >< / > 国投证券 A< / > 25.91< / > 0.51< / > 30.63< / > 23.77< / > 3.23< / > 13.22< / > 316.11< / >< / > 康美药业 A< / > 297.75< / > 11.00< / > 468.75< / > 285.17< / > 1.21< / > 18.45< / > 1312.76< / >< / > 东方财富 A< / > 17.95< / > 0.67< / > 27.08< / > 17.22< / > 0.56< / > 23.46< / > 294.01< / >< / > 福赛希国际工业 A< / > 56.07< / > 0.38< / > 84.95< / > 47.35< / > 1.75< / > 31.50< / > 1112.66< / >< / > 集体银行 A< / > 8.22< / > -0.09< / > 8.40< / > 6.85< / > 3.89< / > 8.22< / > 2.22< / >< / > 兴业银行 A< / > 18.05< / > -0.19< / > 21.90< / > 16.44< / > 5.91< / > 5.22< / > 381.99< / >< / > 江苏恒瑞医药 A< / > 46.40< / > 0.15< / > 46.40< / > 36.40< / > 1.15< / > 46.40< / > 1000.00< / >< / > 利亚金融集团 A< / > 1263.00< / > 7.21< / > 1568.00< / > 1151.01< / > 4.12< / > 19.24< / > 1576.85< / >< / > 立讯精密 D< / > 47.59< / > -0.84< / > 81.78< / > 44.57< / > 0.52< / > 20.78< / > 349.62< / >< / > 中组

A | 82.46< / > 0.72< / > 89.50< / > 71.02< / > 5.21< / > 14.22< / > 574.14< / > | 中国石油 A< / > 11.60< / > 0.01< / > 13.69< / > 8.04< / > 4.40< / > 13.49< / > 1.88< / >< / > 中国平安 A< / > 52.83< / > 0.16< / > 74.88< / > 46.90< / > 5.17< / > 6.88< / > 563.17< / >< / > 中国邮政储蓄银行 A< / > 5.41< / > -0.08< / > 6.13< / > 4.76< / > 4.22< / > 7.41< / > 5.42< / >< / > 深圳迈瑞生物医疗 A< / > 161.40< / > 3.80< / > 246.98< / > 130.66< / > 2.63< / > 24.04< / > 195.58< / >< / > 五菱永 A< / > 70.56< / > 0.42< / > 122.96< / > 68.68< / > 7.31< / > 30.59< / > 273.89< / >< / > 紫金矿业集团

A< / > 30.80< / > 1.43< / > 44.94< / > 24.42< / > 2.60< / > 15.79< / > 634.54< / > |

Equinor< / > 417.90< / > 7.20< / > 426.00< / > 226.40< / > 3.53< / > 215.41< / > 999.09< / >< / > | 韩国 (KRW)< / >< / > LG能源解决方案< / > 401000.00< / > < / > 527000.00< / > 295500.00< / > 0.00< / > 87.46< / > 93834.00< / >< / > 三星生物< / > 1219000.00< / > < / > 1987000.00< / > 1003000.00< / > 0.00< / > 50.94< / > 56428.67< / >< / > 三星电子< / > 262000.00< / > < / > 374500.00< / > 90200.00< / > 0.64< / > 39.67< / > 0.00< / >< / > 三星电子优先股< / > 194000.00< / > < / > 245500.00< / > 70400.00< / > 0.87< / > 183.43< / > 155660.01< / >< / > 三星

Epis< / > 340500.00< / > < / > 773000.00< / > 324500.00< / > 0.00< / > 269.60< / > 8472.68< / >< / > SK海力士< / > 1681000.00< / > < / > 2987000.00< / > 403000.00< / > 0.18< / > 27.09< / > 0.00< / > |

< rowspan="2">股票< / > | 52周< / >< / > 价格< / > + / 变动< / > 最高< / > 最低< / > 收益率< / > 市盈率< / > 市值 (十亿)< / >< / > 信越化学< / > 6085.00< / > -36.00< / > 7930.00< / > 4366.00< / > 2.23< / > 24.08< / > 12078.70< / >< / > 软银< / > 242.00< / > 0.70< / > 252.90< / > 202.60< / > 3.64< / > 21.32< / > 11628.39< / >< / > 软银集团< / > 5603.00< / > -237.00< / > 7265.00< / > 3365.00< / > 0.19< / > 6.64< / > 33145.85< / >< / > 索尼金融集团< / > 149.20< / > 2.70< / > 180.40< / > 129.30< / > 5.36< / > 18.74< / > 1010.14< / >< / > 索尼集团< / > 3814.00< / > 108.00< / > 4776.00< / > 3643.00< / > 0.92< / > 69.73< / > 22751.72< / >< / > 三井住友

金融< / > 3256.00< / > -41.00< / > 7260.00< / > 3297.00< / > 2.76< / > 15.81< / > 24152.93< / >< / > 武田药品< / > 5843.00< / > 27.00< / > 6033.00< / > 4102.00< / > 3.49< / > 60.31< / > 93561.31< / >< / > 东京海上控股< / > 525.70< / > 7.60< / > 8468.00< / > 501.00< / > 3.11< / > 28.23< / > 135250.56< / >< / > 东京电子< / > 12454.00< / > 255.00< / > 81260.00< / > 11270.00< / > 1.28< / > 49.80< / > 29123.34< / >< / > 丰田汽车< / > 2910.50< / > 8.50< / > 4000.00< / > 2686.00< / > 3.44< / > 9.86< / > 40478.71< / >< / > 科威特 (KWD)< / > < / > |

BioNTech香港 (HKD) | 96.96< / > 4.90< / > 124.00< / > 79.52< / > 0.00< / > 46.39< / > 24.52< / > | 友邦保险 (AIA Group)< / > 71.25< / > 2.00< / > 92.15< / > 68.00< / > 2.78< / > 120.56< / > 737.20< / >< / > 香港交易所 (HKEX)< / > 377.80< / > 2.80< / > 460.20< / > 360.00< / > 3.69< / > 26.89< / > 478.99< / > | 沙特阿拉伯 (SAN)< / >< / > ACWA Power< / > 164.90< / > 252.60< / > 154.50< / > 0.28< / > 66.76< / > 126.39< / >< / > Al Rajhi Bank< / > 62.30< / > 110.00< / > 62.00< / > 4.83< / > 15.97< / > 373.80< / >< / > 沙特阿拉伯矿业 (Saudi Arabian Mining)< / > 62.40< / > 79.90< / > 54.90< / > 0.00< / > 32.67< / > 242.66< / >< / > 沙特阿拉伯石油公司 (Saudi Arabian Oil)< / > 25.74< / > 27.96< / > 23.29< / > 5.27< / > 17.88< / > 62.29< / >< / > 沙特基础工业公司 (Saudi Basiic Industries)< / > 45.80< / > 62.50< / > 45.70< / > 5.68< / > 5.33< / > 137.40< / >< / > 沙特国家银行 (Saudi National Bank)< / > 37.86< / > 45.24< / > 36.00< / > 6.08< / > 9.37< / > 227.16< / >< / > STC Co< / > 42.60< / > 45.38< / > 41.14< / > 5.16< / > 14.34< / > 213.00< / > | 印度 (UNR)< / >< / > Bajra Finance< / > 956.15< / > 4.15< / > 1177.60< / > 788.40< / > 0.63< / > 50.29< / > 5965.40< / >< / > Brah Amrit Ltd< / > 1806.60< / > 10.25< / > 2174.70< / > 1726.05< / > 1.33< / > 138.01< / > 12174.09< / >< / > HCL Technologies< / > 1214.30< / > 33.55< / > 1770.00< / > 1030.00< / > 4.94< / > 18.93< / > 3295.20< / >< / > HEHC Bank< / > 707.10< / > 14.50< / > 1020.35< / > 682.00< / > 1.84< / > 14.28< / > 10930.49< / >< / > 印度联合利华 (Hindustan Unilever)< / > 1861.00< / > 18.80< / > 2667.55< / > 1827.10< / > 2.20< / > 42.55< / > 4372.59< / >< / > ICICI Bank< / > 1354.10< / > 0.10< / > 1479.90< / > 1187.55< / > 0.89< / > 21.43< / > 9721.01< / >< / > Infosys< / > 1024.05< / > 29.90< / > 1727.85< / > 980.30< / > 4.68< / > 15.68< / > 4155.88< / >< / > ITC Bank< / > 266.20< / > 12.15< / > 426.50< / > 253.15< / > 5.45< / > 9.58< / > 3335.62< / >< / > Kohl Mahindra Bank< / > 440.10< / > 1.40< / > 441.60< / > 345.40< / > 0.15< / > 3.95< / > 4378.06< / >< / > Lancashire Corp< / > 3619.10< / > 79.60< / > 4410.00< / > 3288.00< / > 1.03< / > 31.64< / > 5306.57< / >< / > Lancissure Corp< / > 393.10< / > 13.60< / > 336.60< / > 278.30< / > 2.54< / > 13.81< / > 4972.71< / >< / > Mersai S.p.Adu Inc< / > 11395.00< / > 172.80< / > 17371.60< / > 11220.10< / > 1.23< / > 24.41< / > 3562.62< / >< / > 信实工业 (Reliance Industries)< / > 1170.80< / > 6.50< / > 1611.20< / > 1161.00< / > 0.51< / > 22.75< / > 5843.90< / >< / > 印度国家银行 (State Bank of India)< / > 956.10< / > 17.45< / > 1234.80< / > 856.25< / > 1.81< / > 11.02< / > 8844.00< / >< / > 太阳制药 (Sun Pharmaceutical Inds)< / > 1756.90< / > 4.40< / > 2047.55< / > 1583.60< / > 0.91< / > 38.53< / > 4125.29< / >< / > 塔塔咨询服务 (Tata Consultancy Secs)< / > 2163.00< / > 87.75< / > 3336.70< / > 1976.00< / > 3.05< / > 16.12< / > 7825.92< / > | 中国农业银行 A | 6.49 | -0.10 | 6.71 | 5.08 | 4.70 | 8.31 | 199.34 | 阿里巴巴集团控股 | 107.00 | 2.70 | 179.00 | 88.65 | 0.96 | 128.92 | 2129.51 | 中国银行 H | 6.12 | 0.10 | 6.14 | 4.11 | 4.52 | 8.28 | 512.19 | 交通银行 H | 8.39 | 0.04 | 8.47 | 6.33 | 4.70 | 7.77 | 293.75 | BPO H | 75.60 | 2.70 | 113.40 | 71.40 | 0.54 | 21.12 | 278.47 | 中信银行 H | 8.44 | 0.12 | 8.70 | 6.50 | 5.51 | 7.03 | 125.53 | 中国建设银行 H | 9.73 | 0.07 | 9.90 | 7.18 | 4.87 | 7.49 | 23.40 | 中国人寿 H | 26.16 | -0.60 | 36.16 | 20.90 | 4.31 | 4.80 | 194.66 | 招商银行 H | 52.20 | 0.55 | 53.70 | 43.34 | 4.35 | 9.16 | 239.65 | 中国石油化工 H | 4.54 | 5.70 | 3.98 | 5.54 | 17.31 | 107.37 | 中国神华能源 H | 44.22 | 0.80 | 49.62 | 37.54 | 5.26 | 16.20 | 149.35 | OTC Securities H | 23.72 | 0.18 | 32.50 | 23.24 | 4.14 | 12.10 | 81.21 | IDCC H | 7.50 | -0.07 | 7.77 | 5.56 | 5.00 | 7.50 | 650.96 | JCI com A | 105.60 | 0.40 | 137.20 | 95.80 | 3.72 | 15.33 | 263.63 | 美团 B | 71.50 | 2.10 | 108.00 | 63.65 | 0.00 | 18.62 | 400.14 | 美的集团 H | 93.65 | 0.85 | 101.70 | 77.65 | 5.38 | 16.15 | 60.95 | 网易 | 193.50 | 7.00 | 244.80 | 168.80 | 2.38 | 18.27 | 621.53 | Nanjing Spring H | 41.62 | 1.18 | 56.25 | 37.90 | 2.72 | 29.50 | 209.54 | PetcoChina H | 9.83 | 12.22 | 7.08 | 5.98 | 11.43 | 207.40 | 中国平安保险集团 H | 51.85 | 0.55 | 74.70 | 50.00 | 6.07 | 6.75 | 386.16 | Prestant Savings Bank China H | 5.42 | 0.06 | 5.78 | 4.48 | 4.94 | 7.42 | 107.62 | 腾讯控股 | 424.80 | 13.40 | 681.00 | 411.00 | 1.25 | 17.16 | 3862.54 | Kimcom Buy C | 25.96 | 2.30 | 54.70 | 21.30 | 0.00 | 16.02 | 554.65 | 中国移动 H | 32.94 | 1.66 | 46.98 | 26.58 | 2.80 | 16.89 | 197.28 | 中国 (美元) | Full Truck Alliance | 8.56 | 0.23 | 13.40 | 7.46 | 2.70 | 285.33 | 159.65 | Fidis Holdings A | 113.71 | 4.95 | 202.53 | 80.50 | 2.24 | 10.88 | 87.10 | PDD Holdings A | 81.35 | 3.09 | 139.41 | 71.94 | 0.00 | 32.54 | 461.95 | 丹麦 (丹麦克朗) | Singapore (USD) | DBS Group Holdings< / > 73.36< / > -0.49< / > 79.05< / > 51.80< / > 4.33< / > 19.10< / > 208.63< / >< / > Oversea-Chinese Banking< / > 29.00< / > < / > 32.57< / > 16.62< / > 3.62< / > 1779.14< / > 130.94< / >< / > United Overseas Bank Ltd< / > 39.96< / > -0.29< / > 45.15< / > 33.25< / > 3.98< / > 14.48< / > 66.41< / >< / > | Singapore (USD)< / >< / > JOYY A< / > 81.05< / > 0.20< / > 81.93< / > 54.24< / > 6.64< / > 324.20< / > 52.92< / >< / > Sea / Singapore A< / > 95.25< / > 2.36< / > 191.39< / > 77.05< / > 0.00< / > 35.94< / > 52.05< / >< / > | South Africa (TAR)< / > |

Bank Central Asia< / > 6050.00< / > 50.00< / > 8750.00< / > 4820.00< / > 0.00< / > 12.96< / > 7458.14< / >< / > PT Bantis Renewables< / > 2700.00< / > 40.00< / > 10725.00< / > 2300.00< / > 0.15< / > 0.00< / > 612.23< / >< / > | Italy (EUR)< / >< / > Assicurazioni Generali< / > 41.60< / > 0.58< / > 46.24< / > 31.76< / > 3.94< / > 17.12< / > 63.84< / >< / > Enel< / > 8.87< / > 0.11< / > 10.31< / > 8.20< / > 5.53< / > 23.96< / > 88.12< / >< / > Eni< / > 25.21< / > 0.33< / > 25.05< / > 14.54< / > 4.36< / > 17.88< / > 76.34< / >< / > Ferrari< / > 347.85< / > 5.05< / > 416.70< / > 269.00< / > 0.86< / > 50.34< / > 61.67< / >< / > Intesa Sampaolo< / > 6.12< / > 0.06< / > 6.94< / > 4.81< / > 6.15< / > 26.59< / > 108.15< / >< / > Stellantis< / > 4.00< / > 0.00< / > 10.49< / > 3.61< / > 0.00< / > 5.38< / > 11.60< / >< / > UniCredit SpA< / > 76.13< / > 0.80< / > 86.42< / > 57.36< / > 4.14< / > 14.91< / > 118.89< / > |

Canon< / > 4768.00< / > 73.00< / > 5003.00< / > 3967.00< / > 3.40< / > 16.24< / > 62736.95< / >< / > Chagas Pharmaceutical< / > 6010.00< / > 68.00< / > 10700.00< / > 5914.00< / > 2.19< / > 23.62< / > 10168.25< / >< / > Caterpillar< / > 2923.00< / > 30.50< / > 4178.00< / > 2296.00< / > 3.81< / > 17.35< / > 4888.37< / >< / > FAST RETAILING< / > 71780.00< / > 3030.00< / > 86690.00< / > 64580.00< / > 1.25< / > 69.60< / > 22641.90< / >< / > Hausch< / > 5688.00< / > 7.00< / > 6039.00< / > 4222.00< / > 0.99< / > 42.35< / > 25712.10< / >< / > Honda d< / >< / > Mitsubishi Heavy< / > 3699.00< / > -11.00< / > 5286.00< / > 3494.00< / > 0.79< / > 37.11< / > 12371.91< / >< / > Mitsubishi U.S. Geni Fd< / > 3462.00< / > 42.00< / > 3813.00< / > 2236.50< / > 3.77< / > 16.34< / > 41068.02< / >< / > Toyota Co< / > 4778.00< / > -1.00< / > 4875.00< / > 2759.00< / > 1.63< / > 19.49< / > 11847.85< / >< / > Michiho Financial Group< / > 8214.00< / > -136.00< / > 8983.00< / > 4568.00< / > 1.93< / > 16.33< / > 20065.42< / >< / > Nintendo< / > 8146.00< / > 295.00< / > 14303.00< / > 6544.00< / > 1.99< / > 22.35< / > 10488.02< / >< / > NTT< / > 172.80< / > 0.90< / > 180.10< / > 142.60< / > 3.12< / > 13.71< / > 15656.15< / >< / > Recruit Holdings< / > 17755.00< / > 555.00< / > 18215.00< / > 6040.00< / > 0.15< / > 50.76< / > 26144.31< / > |

Naspers N | 721.69< / > 19.92< / > 1295.72< / > 608.05< / > 0.70< / > 85.55< / > 537.61< / > | 西班牙 (EUR)< / >< / > 桑坦德银行 (Banco Santander)< / > 12.02< / > 0.11< / > 13.12< / > 8.10< / > 1.70< / > 13.21< / > 174.97< / >< / > BBVA Spor< / > 23.11< / > 0.09< / > 25.57< / > 15.39< / > 3.40< / > 88.88< / > 127.36< / >< / > CaixaBank< / > 11.85< / > -0.04< / > 13.55< / > 8.57< / > 3.42< / > 34.85< / > 82.66< / >< / > Berdrolsa SA< / > 21.26< / > 0.15< / > 22.08< / > 16.37< / > 2.59< / > 38.51< / > 141.87< / >< / > NxtExx< / > 53.86< / > 1.02< / > 59.42< / > 46.07< / > 2.63< / > 122.13< / > 167.86< / >< / > | 瑞典 (SEK)< / >< / > 阿特拉斯·科普柯 A (Atlas Copco A)< / > 209.80< / > 4.20< / > 214.10< / > 149.45< / > 1.43< / > 38.66< / > 704.76< / >< / > 阿特拉斯·科普柯 B (Atlas Copco B)< / > 182.95< / > 3.25< / > 186.05< / > 134.00< / > 1.64< / > 33.69< / > 285.56< / >< / > EET< / > 284.10< / > 8.10< / > 383.00< / > 259.00< / > 1.76< / > 458.97< / > 371.11< / >< / > Investor B< / > 412.05< / > 5.50< / > 426.80< / > 301.50< / > 1.36< / > 6.01< / > 750.73< / >< / > 沃尔沃 B (Volvo B)< / > 315.40< / > 5.90< / > 374.50< / > 244.90< / > 4.12< / > 18.62< / > 502.34< / >< / > | 瑞士 (CHF)< / >< / > ABB< / > 79.64< / > 0.84< / > 89.14< / > 53.78< / > 1.18< / > 30.75< / > 145.20< / >< / > 爱尔康 (Alcon)< / > 53.14< / > 0.94< / > 68.34< / > 47.80< / > 0.53< / > 51.10< / > 26.55< / >< / > Civic Financiers Richemt< / > 170.30< / > 1.90< / > 202.20< / > 127.20< / > 1.94< / > 36.32< / > 91.55< / >< / > Gravisden< / > 3440.00< / > 31.00< / > 3592.00< / > 2566.00< / > 2.09< / > 38.64< / > 31.76< / >< / > 豪瑞 (Holcim)< / > 63.50< / > 0.66< / > 82.54< / > 60.10< / > 2.68< / > 19.72< / > 36.00< / >< / > Lorsa Group< / > 572.20< / > 8.80< / > 597.80< / > 454.60< / > 0.87< / > 64.08< / > 40.19< / >< / > 雀巢 (Nestle)< / > 76.04< / > 0.04< / > 87.09< / > 70.29< / > 4.08< / > 21.66< / > 195.92< / >< / > Nexen< / > 119.10< / > 1.38< / > 132.68< / > 97.05< / > 3.11< / > 39.05< / > 242.35< / >< / > 罗氏控股 (Roche Holding)< / > 366.60< / > 5.60< / > 383.00< / > 270.80< / > 2.67< / > 22.66< / > 39.11< / >< / > 罗氏控股优先股 (Roche Holding Pref)< / > 357.80< / > 5.10< / > 375.80< / > 291.00< / > 2.74< / > 22.11< / > 251.38< / >< / > 西卡 (Sika)< / > 173.80< / > 2.95< / > 197.60< / > 120.35< / > 2.13< / > 26.74< / > 27.89< / >< / > 瑞士再保险 (Swiss Re)< / > 144.00< / > 1.70< / > 153.85< / > 114.05< / > 4.38< / > 11.03< / > 43.02< / >< / > 瑞银集团 (UBS Group)< / > 39.90< / > 1.07< / > 45.04< / > 28.25< / > 2.15< / > 20.36< / > 130.78< / >< / > 苏黎世保险集团 (Zurich Insurance Group)< / > 576.00< / > 3.20< / > 626.00< / > 521.00< / > 5.21< / > 18.01< / > 87.11< / > |

鸿海精密 (Hon Hai Precision)< / > 249.00< / > 314.00< / > 187.50< / > 2.88< / > 18.30< / > 3504.86< / >< / > 联发科 (MediaTek)< / > 4690.00< / > 5480.00< / > 1130.00< / > 1.14< / > 70.89< / > 7527.23< / >< / > 台积电 (Taiwan Semicon Mfg)< / > 2550.00< / > 2590.00< / > 1375.00< / > 1.02< / > | 38.4866127.54< / >< / > | 阿拉伯联合酋长国 (AED)< / > |

3i Group Plc | 23.98< / > -0.04< / > 44.97< / > 18.25< / > 3.52< / > 4.45< / > 24.52< / > | 阿斯特鲁善 (AstraZeneca)< / > 120.26< / > 0.28< / > 157.32< / > 98.92< / > 1.99< / > 24.09< / > 186.53< / >< / > BAE Systems< / > 18.82< / > 0.23< / > 23.60< / > 15.29< / > 2.01< / > 27.36< / > 56.47< / >< / > 巴克莱银行 (Barclays)< / > 4.38< / > 0.08< / > 5.54< / > 3.54< / > 2.63< / > 9.99< / > 58.43< / >< / > BP< / > 5.88< / > 0.02< / > 6.09< / > 3.99< / > 4.27< / > < / > 92.35< / >< / > 英美烟草 (British Amer Tobacco)< / > 41.94< / > < / > 53.26< / > 36.77< / > 5.84< / > 11.95< / > 90.45< / >< / > 康帕斯集团 (Compass Group)< / > 23.56< / > -0.03< / > 25.81< / > 20.00< / > 2.15< / > 28.28< / > 40.06< / >< / > 帝亚吉欧 (Diageo)< / > 16.73< / > 0.35< / > 19.04< / > 12.96< / > 2.26< / > 28.32< / > 37.27< / >< / > Experian< / > 26.98< / > 0.16< / > 37.07< / > 22.03< / > 1.92< / > 21.68< / > 23.73< / >< / > 嘉能可 (Glencore)< / > 5.86< / > 0.02< / > 7.07< / > 3.32< / > 2.19< / > < / > 68.74< / > |

股票< / > 价格< / > 涨跌< / > 最高< / > 最低< / > 收益率< / > 市盈率< / > 市值 (十亿)< / >< / > GSX< / > 17.71< / > 0.21< / > 22.82< / > 15.92< / > 3.95< / > 12.55< / > 76.44< / >< / > Haleon< / > 3.55< / > 0.06< / > 4.16< / > 3.18< / > 2.06< / > 19.08< / > 31.21< / >< / > 汇丰控股 (HSBC Holdings)< / > 14.28< / > 0.33< / > 16.10< / > 9.59< / > 3.90< / > 15.61< / > 244.76< / >< / > 劳埃德银行集团 (Lloyds Banking Group)< / > 1.04< / > 0.02< / > 1.18< / > 0.82< / > 3.86< / > 14.86< / > 59.72< / >< / > 伦敦证券交易所集团 (London Stock Exch Grp)< / > 87.60< / > 0.66< / > 101.40< / > 66.84< / > 1.80< / > 36.74< / > 42.19< / >< / > 国家电网 (National Grid)< / > 11.64< / > 0.17< / > 14.29< / > 10.86< / > 4.16< / > 17.78< / > 58.54< / >< / > 国民西敏寺银行集团 (NatWest Group)< / > 6.54< / > 0.11< / > 7.26< / > 5.04< / > 5.35< / > 12.22< / > 51.82< / >< / > 利洁时 Benckiser 集团 (Reckitt Benckiser Group)< / > 52.16< / > 0.84< / > 65.23< / > 36.64< / > 4.15< / > 11.14< / > 33.05< / >< / > RELX< / > 27.60< / > 0.40< / > 35.39< / > 19.91< / > 2.50< / > 24.51< / > 48.09< / >< / > 力拓 (Rio Tinto)< / > 71.44< / > 0.18< / > 91.17< / > 49.70< / > 4.88< / > 15.39< / > 89.67< / >< / > 罗尔斯-罗伊斯控股 (Rolls-Royce Holdings)< / > 13.96< / > 0.10< / > 15.86< / > 9.90< / > 0.79< / > 20.11< / > 115.75< / >< / > 壳牌 (Shell)< / > 38.36< / > 0.42< / > 38.55< / > 25.54< / > 2.94< / > 16.74< / > 219.37< / >< / > 联合利华 (Unilever)< / > 47.38< / > 0.65< / > 55.42< / > 36.44< / > 3.48< / > 12.95< / > 102.07< / > |

Amm Holdings< / > 266.28< / > -9.01< / > 452.70< / > 100.02< / > 0.00< / > 313.27< / > 283.32< / >< / > | 美国 (USD)< / >< / > 3M 公司 (3M Co)< / > 159.96< / > -3.62< / > 184.90< / > 139.34< / > 1.95< / > 28.21< / > 82.49< / >< / > 雅培实验室 (Abbott Laboratories)< / > 99.60< / > 1.11< / > 135.12< / > 81.97< / > 2.53< / > 32.13< / > 172.35< / >< / > 艾伯维 (AbbVie)< / > 276.47< / > 4.05< / > 274.94< / > 190.75< / > 2.50< / > 78.10< / > 488.55< / >< / > 埃森哲 (Accenture Plc)< / >

A | 209.06< / > 0.70< / > 291.09< / > 118.15< / > 3.27< / > 16.55< / > 127.93< / > | Adobe< / > 242.27< / > 1.22< / > 363.70< / > 190.12< / > 0.00< / > 13.51< / > 94.29< / >< / > Aflac< / > 114.54< / > -0.40< / > 130.22< / > 105.43< / > 2.13< / > 12.30< / > 57.42< / >< / > Air Products & Chemicals< / > 281.26< / > 2.88< / > 314.87< / > 229.11< / > 2.57< / > 29.64< / > 62.63< / >< / > Autiva A< / > 165.87< / > 2.64< / > 193.45< / > 110.81< / > 0.00< / > 44.23< / > 69.59< / >< / > Alphabet A< / > 351.66< / > 3.37< / > 406.81< / > 235.84< / > 0.25< / > 17.44< / > 2063.54< / >< / > Alphabet C< / > 347.86< / > 3.00< / > 404.47< / > 236.69< / > 0.25< / > 17.25< / > 1922.62< / >< / > Altia

Group< / > 71.68< / > 0.26< / > 77.06< / > 54.70< / > 6.19< / > 14.96< / > 119.69< / >< / > Amazon.com< / > 262.43< / > 8.37< / > 287.20< / > 196.00< / > 0.00< / > 20.81< / > 2830.65< / >< / > AMG Electric Power< / > 608.10< / > -12.58< / > 658.52< / > 168.22< / > 0.00< / > 153.17< / > 992.71< / >< / > American Express< / > 308.17< / > 0.00< / > 387.49< / > 269.63< / > 0.00< / > 18.99< / > 66.86< / >< / > American International< / > 77.04< / > -0.01< / > 87.29< / > 71.25< / > 2.60< / > 13.93< / > 40.28< / >< / > American Tower< / > 182.24< / > 15.51< / > 196.08< / > 160.06< / > 3.88< / > 25.00< / > 84.92< / >< / > Ameriprise

Financial< / > 500.51< / > 1.43< / > 572.56< / > 422.37< / > 1.36< / > 11.93< / > 44.21< / >< / > AMETEK Inc< / > 249.58< / > 1.06< / > 261.16< / > 179.24< / > 0.55< / > 36.24< / > 56.99< / >< / > Avgen< / > 414.87< / > 7.43< / > 447.03< / > 288.00< / > 2.43< / > 25.58< / > 224.29< / >< / > Amphend A< / > 87.24< / > 1.92< / > 178.52< / > 76.74< / > 0.57< / > 41.54< / > 215.13< / >< / > Analog Devices< / > 406.19< / > 0.26< / > 445.91< / > 223.47< / > 1.08< / > 47.96< / > 196.83< / >< / > Asn Plc A< / > 273.47< / > -3.65< / > 382.34< / > 266.33< / > 1.20< / > 15.01< / > 56.01< / >< / > Apollo Global

Mgmt< / > 118.65< / > 3.35< / > 153.29< / > 99.56< / > 1.90< / > 41.78< / > 70.07< / >< / > Apple< / > 336.64< / > -3.78< / > 345.34< / > 243.42< / > 0.32< / > 38.43< / > 4917.98< / >< / > Applied Materials Inc< / > 507.03< / > -2.54< / > 739.67< / > 203.40< / > 0.42< / > 43.41< / > 402.38< / >< / > Applcavi A< / > 277.04< / > -3.08< / > 738.01< / > 266.84< / > 0.00< / > 21.21< / > 84.34< / >< / > Asea Management< / > 117.22< / > 0.96< / > 161.19< / > 95.00< / > 4.81< / > 53.77< / > 26.25< / >< / > Arthur J. Gallagher< / > 193.87< / > -1.00< / > 238.00< / > 146.00< / > 0.00< / > 16.88< / > 100.00< / >< / > Arthur J.

Gallagher | 232.70< / > -1.35< / > 307.11< / > 199.75< / > 1.20< / > 38.15< / > 59.64< / > | AT&T< / > 22.18< / > -2.69< / > 29.43< / > 19.89< / > 5.00< / > 7.32< / > 151.99< / >< / > Atlassian Corp A< / > 206.79< / > 3.22< / > 203.89< / > 56.01< / > 0.00< / > 884.71< / > 32.88< / >< / > Autodesk< / > 235.35< / > 1.75< / > 320.00< / > 185.50< / > 0.00< / > 30.29< / > 49.19< / >< / > Auto Data Processing< / > 270.88< / > 0.15< / > 291.34< / > 188.16< / > 2.51< / > 24.69< / > 107.34< / >< / > AutoZone< / > 293.85< / > 29.31< / > 414.62< / > 273.65< / > 0.00< / > 19.72< / > 47.99< / >< / > Baker Hughes

A< / > 56.70< / > 0.40< / > 70.41< / > 43.92< / > 1.62< / > 18.00< / > 56.28< / >< / > Bank of New York Mellon< / > 142.71< / > -0.90< / > 165.84< / > 103.11< / > 1.77< / > 16.48< / > 96.83< / >< / > Becton Dickinson< / > 183.75< / > 1.00< / > 213.08< / > 140.11< / > 2.29< / > 31.68< / > 50.05< / >< / > Berkshire Hathaway A< / > 74295.00< / > 7413.03< / > 86912.81< / > 68600.00< / > 0.00< / > 86.97< / > 39.16< / >< / > Berkshire Hathaway B< / > 515.62< / > 4.57< / > 537.74< / > 464.01< / > 0.00< / > 19.68< / > 72.10< / >< / > BlackRock

Finance< / > 1082.39< / > 17.04< / > 1219.94< / > 917.39< / > 2.12< / > 25.54< / > 167.63< / >< / > Blackstone< / > 114.29< / > 1.61< / > 166.39< / > 101.73< / > 2.90< / > 25.57< / > 85.79< / >< / > Blackstone A< / > 77.24< / > -2.02< / > 87.47< / > 49.12< / > 4.11< / > 133.17< / > 431.41< / >< / > Boeing Co< / > 193.42< / > -0.82< / > 254.45< / > 178.77< / > 0.00< / > 28.23< / > 150.46< / >< / > BclH Corp< / > 54.32< / > 0.71< / > 65.22< / > 46.12< / > 2.36< / > 12.35< / > 379.85< / >< / > Booking Holdings< / > 160.34< / > 0.37< / > 5520.15< / > 150.14< / > 1.03< / > 17.72< / > 120.48< / >< / > Boston

Scientific< / > 42.73< / > 0.69< / > 105.65< / > 41.38< / > 0.00< / > 17.16< / > 61.93< / >< / > Bristol Myers Squibb< / > 59.12< / > -0.46< / > 68.64< / > 42.52< / > 4.26< / > 12.96< / > 120.77< / >< / > Broadcom< / > 361.54< / > 1.40< / > 495.00< / > 289.96< / > 0.72< / > 44.80< / > 1725.86< / >< / > Cadence Design Systems< / > 352.84< / > 4.00< / > 416.69< / > 262.75< / > 0.00< / > 69.73< / > 97.17< / >< / > Capital One Financial< / > 199.26< / > -0.14< / > 258.63< / > 174.24< / > 1.61< / > 10.98< / > 122.24< / >< / > Carrier Global< / > 55.56< / > -0.27< / > 76.76< / > 50.24< / > 1.73< / > 39.13< / > 45.80< / >< / > Cavana

A< / > 63.73< / > 0.53< / > 466.89< / > 56.12< / > 0.00< / > 28.58< / > 45.88< / >< / > Carepiral< / > 800.47< / > 4.29< / > 1073.46< / > 491.30< / > 0.81< / > 34.30< / > 367.96< / >< / > CROE Group A< / > 130.80< / > -0.28< / > 174.27< / > 121.69< / > 0.00< / > 33.71< / > 37.88< / >< / > Cencora< / > 323.85< / > 2.50< / > 377.54< / > 244.82< / > 0.74< / > 23.94< / > 61.80< / >< / > Charter Comms A< / > 102.38< / > -6.29< / > 275.58< / > 104.91< / > 0.00< / > 2.66< / > 11.85< / >< / > Cheniere Energy< / > 278.67< / > -1.86< / > 368.88< / > 236.99< / > 0.00< / > 19.89< / > 48.57< / >< / > Chipotle mexican

Engle | 211.98< / > 0.43< / > 217.78< / > 146.49< / > 3.36< / > 20.34< / > 418.82< / > | Chipotle Mexican Grill< / > 31.59< / > -1.09< / > 42.81< / > 28.04< / > 0.00< / > 28.98< / > 39.97< / >< / > Chubb< / > 341.20< / > -2.58< / > 365.91< / > 265.30< / > 1.20< / > 95.57< / > 131.63< / >< / > Cintas< / > 202.41< / > 1.29< / > 219.16< / > 161.16< / > 0.00< / > 39.46< / > 80.37< / >< / > Cisco Systems< / > 118.39< / > 3.50< / > 130.37< / > 66.81< / > 1.42< / > 35.24< / > 466.76< / >< / > Citigroup< / > 129.64< / > 1.56< / > 147.96< / > 93.66< / > 2.07< / > 18.23< / > 217.46< / >< / > Cloudflare Inc

A< / > 360.93< / > 19.04< / > 370.35< / > 158.83< / > 0.00< / > 622.29< / > 116.44< / >< / > CME Group A< / > 280.56< / > 4.12< / > 329.16< / > 218.31< / > 4.03< / > 23.68< / > 100.88< / >< / > Cognizant Tech Sci A< / > 59.20< / > -0.81< / > 87.03< / > 37.08< / > 2.23< / > 12.65< / > 26.67< / >< / > Coinbase Global A< / > 179.39< / > 7.39< / > 402.16< / > 139.11< / > 0.00< / > 46.35< / > 39.97< / >< / > Colgate-Palmolite< / > 88.27< / > 0.17< / > 99.33< / > 74.55< / > 2.40< / > 34.75< / > 70.37< / >< / > Comcast

A< / > 20.66< / > -0.55< / > 32.85< / > 20.75< / > 6.39< / > 6.60< / > 73.12< / >< / > ConocoPhillips< / > 134.10< / > -0.09< / > 141.62< / > 85.57< / > 2.51< / > 17.74< / > 161.10< / >< / > Constellation Energy< / > 298.07< / > 13.00< / > 412.70< / > 228.63< / > 0.57< / > 29.11< / > 105.61< / >< / > Constellation Software A< / > 27.32< / > -0.16< / > 45.89< / > 26.38< / > 0.00< / > 17.51< / > 25.31< / >< / > Corning< / > 156.68< / > 3.85< / > 271.78< / > 77.39< / > 0.71< / > 70.58< / > 134.96< / >< / > Corteva< / > 13.24< / > -0.51< / > 90.97< / > 11.74< / > 5.44< / > 8.02< / > 8.84< / >< / > Costco

Wholesale< / > 946.92< / > -1.00< / > 1086.50< / > 844.06< / > 0.62< / > 45.57< / > 419.61< / >< / > Coupang A< / > 15.82< / > 0.41< / > 32.70< / > 13.35< / > 0.00< / > 36.79< / > 25.94< / >< / > CRV< / > 81.54< / > -0.34< / > 131.55< / > 80.13< / > 1.91< / > 16.08< / > 54.25< / >< / > CrowdStrike Holdings A< / > 275.04< / > 12.03< / > 786.00< / > 174.14< / > 0.00< / > 66876.80< / > 281.62< / > |

波动率指数

< rowspan="2">股票< / >< rowspan="2">价格< / > | 52周< / >< / > 涨跌< / > 最高< / > 最低< / > 收益率< / > 市盈率< / > Mdy's< / >< / > ONEOK< / > 89.80< / > -0.49< / > 90.92< / > 87.16< / > 47.77< / > 15.46< / > 56.61< / >< / > Oracle< / > 141.40< / > 5.71< / > 322.54< / > 114.50< / > 1.41< / > 21.82< / > 427.56< / >< / > O'Reilly Automotive< / > 86.45< / > 0.44< / > 104.06< / > 82.59< / > 0.00< / > 27.36< / > 69.93< / >< / > Old

Worldwide< / > 65.95< / > 0.25< / > 94.56< / > 57.38< / > 2.67< / > 31.74< / > 25.14< / >< / > PNC< / > 151.25< / > 0.64< / > 167.27< / > 137.62< / > 7.98< / > 22.40< / > 25.23< / >< / > PACCAR< / > 108.04< / > -1.62< / > 139.24< / > 92.25< / > 1.30< / > 22.70< / > 56.87< / >< / > Palantir Technologies A< / > 209.05< / > 10.27< / > 207.52< / > 106.37< / > 0.00< / > 164.61< / > 490.96< / >< / > Palo Alto

Networks | 418.78< / > 20.28< / > 432.32< / > 139.57< / > 0.00< / > 1021.41< / > 342.56< / > | Parker-Hannifin< / > 962.56< / > 15.60< / > 1099.94< / > 715.37< / > 0.83< / > 33.32< / > 121.39< / >< / > Paychex< / > 103.98< / > -0.48< / > 129.24< / > 85.45< / > 4.58< / > 20.63< / > 37.01< / >< / > PayPal Holdings< / > 55.53< / > 0.51< / > 79.22< / > 38.46< / > 1.01< / > 10.42< / > 47.50< / >< / > PepsiCo< / > 125.97< / > -2.37< / > 171.48< / > 123.47< / > 4.70< / > 15.79< / > 171.66< / >< / > Pfizer< / > 28.28< / > 0.46< / > 29.21< / > 23.62< / > 6.08< / > 36.73< / > 161.19< / >< / > Philip Morris

Intl< / > 201.19< / > 0.69< / > 207.76< / > 142.11< / > 3.18< / > 28.91< / > 313.58< / >< / > Phillips 66< / > 278.18< / > -3.42< / > 282.64< / > 126.74< / > 1.83< / > 15.82< / > 111.00< / >< / > PNC Financial Services Gp< / > 219.21< / > -0.47< / > 258.96< / > 176.88< / > 3.65< / > 12.06< / > 87.45< / >< / > Progressive< / > 217.43< / > -1.30< / > 245.64< / > 169.20< / > 0.18< / > 10.88< / > 126.35< / >< / > Prologis Inc< / > 129.49< / > 0.20< / > 153.35< / > 111.03< / > 3.31< / > 28.65< / > 123.06< / >< / > Prudential Financial< / > 113.09< / > -0.44< / > 127.72< / > 91.89< / > 4.95< / > 10.20< / > 39.02< / >< / > Public

Storage< / > 289.86< / > 4.34< / > 335.55< / > 256.54< / > 4.14< / > 27.55< / > 54.16< / >< / > QUALCOMM< / > 175.50< / > -0.51< / > 259.92< / > 131.89< / > 2.10< / > 19.88< / > 187.41< / >< / > Realty Income< / > 54.18< / > -0.13< / > 67.15< / > 46.00< / > 0.00< / > 17.54< / > 17.50< / >< / > Regen Pharmaceutica< / > 146.57< / > 6.97< / > 859.34< / > 541.00< / > 0.50< / > 17.53< / > 75.50< / >< / > Republic Services< / > 216.88< / > 0.04< / > 233.42< / > 196.41< / > 1.24< / > 30.72< / > 66.41< / >< / > Redbrioth Market A< / > 109.02< / > 2.01< / > 153.56< / > 63.52< / > 0.00< / > 47.19< / > 86.19< / >< / > Rubba

A< / > 48.09< / > 2.57< / > 141.95< / > 33.88< / > 0.00< / > 34.11< / > 32.22< / >< / > Roper Technologies< / > 364.09< / > -0.14< / > 520.85< / > 305.96< / > 1.00< / > 15.11< / > 36.01< / >< / > Ross Stores< / > 222.41< / > -2.79< / > 257.00< / > 147.49< / > 0.80< / > 26.70< / > 71.05< / >< / > Royal Caribbean Group< / > 282.26< / > 0.85< / > 356.39< / > 222.22< / > 1.95< / > 104.93< / > 75.70< / >< / > RTX< / > 185.97< / > 1.65< / > 226.88< / > 155.64< / > 1.57< / > 32.34< / > 250.64< / >< / > S&P

Global< / > 407.82< / > 5.09< / > 552.25< / > 381.61< / > 0.95< / > 24.81< / > 120.23< / >< / > Salesforce< / > 229.13< / > 1.33< / > 269.11< / > 146.32< / > 0.77< / > 20.94< / > 188.57< / >< / > Schlumberger< / > 48.95< / > -0.03< / > 60.46< / > 31.64< / > 2.41< / > 10.85< / > 72.65< / >< / > Sempra< / > 81.34< / > 1.26< / > 101.04< / > 76.21< / > 3.23< / > 23.58< / > 53.19< / >< / > ServiceNow< / > 140.86< / > 1.11< / > 964.83< / > 81.24< / > 0.00< / > 83.35< / > 145.65< / >< / > Simon Property Group< / > 199.42< / > -0.19< / > 238.50< / > 172.19< / > 4.51< / > 14.07< / > 64.52< / >< / > Snowflake

A | 368.89< / > 25.49< / > 384.56< / > 118.30< / > 0.00< / > 119.77< / > 130.14< / > | Solutions Advanced< / > 61.35< / > 1.12< / > 90.80< / > 40.43< / > 0.49< / > 52.44< / > 9.75< / >< / > Southern Co< / > 66.17< / > 0.02< / > 100.83< / > 61.68< / > 3.53< / > 20.66< / > 99.13< / >< / > Southern Copper< / > 209.21< / > -0.34< / > 237.55< / > 146.00< / > 0.00< / > 23.88< / > 108.44< / >< / > Starbucks< / > 529.14< / > 2.72< / > 700.12< / > 450.00< / > 0.00< / > 237.28< / > 108.14< / >< / > Starbucks Corp< / > 90.75< / > -2.46< / > 110.51< / > 77.99< / > 2.78< / > 52.46< / > 103.45< / >< / > Strategic

A< / > 154.34< / > 2.87< / > 328.99< / > 81.81< / > 0.00< / > 1.56< / > 62.11< / >< / > Stryker< / > 277.33< / > 0.36< / > 392.55< / > 267.00< / > 1.27< / > 28.50< / > 106.38< / >< / > Synopsys< / > 509.99< / > 12.24< / > 539.48< / > 362.55< / > 0.00< / > 88.39< / > 97.73< / >< / > Targa Resources< / > 286.70< / > -1.79< / > 307.94< / > 144.14< / > 1.74< / > 27.33< / > 61.48< / >< / > Target< / > 153.64< / > -1.12< / > 170.75< / > 83.44< / > 3.02< / > 15.87< / > 69.80< / >< / > TE Connectivity< / > 218.29< / > 3.98< / > 252.56< / > 190.27< / > 1.43< / > 21.23< / > 63.20< / >< / > Tesla< / > 382.70< / > 7.70< / > 498.83< / > 297.38< / > 0.00< / > 324.32< / > 1511.49< / >< / > Texas

Instruments< / > 283.74< / > -4.46< / > 334.03< / > 152.73< / > 2.14< / > 42.93< / > 259.12< / >< / > The Altstate< / > 225.43< / > -1.20< / > 277.22< / > 188.08< / > 1.88< / > 4.54< / > 58.01< / >< / > The Charles Schwab< / > 96.70< / > -0.17< / > 114.53< / > 83.96< / > 1.32< / > 17.52< / > 167.23< / >< / > The Citigroup< / > 282.43< / > 1.40< / > 312.18< / > 238.51< / > 2.21< / > 11.89< / > 74.63< / >< / > The Coca-Cola< / > 88.05< / > 0.28< / > 92.49< / > 66.00< / > 2.41< / > 26.44< / > 378.84< / >< / > The Kroger< / > 61.64< / > 0.23< / > 76.58< / > 54.15< / > 2.53< / > 33.32< / > 36.40< / >< / > The

Steiner-Williams< / > 319.36< / > -1.67< / > 377.77< / > 289.86< / > 1.00< / > 29.19< / > 77.53< / >< / > The TJX Cos< / > 138.76< / > 0.01< / > 170.00< / > 122.78< / > 1.58< / > 25.37< / > 152.63< / >< / > The Wall Street Journal< / > 72.03< / > 0.04< / > 86.66< / > 53.88< / > 0.00< / > 16.88< / > 109.85< / >< / > Thermo Fisher Scientific< / > 658.02< / > 6.00< / > 694.33< / > 435.27< / > 0.29< / > 35.36< / > 243.30< / >< / > T-Mobile US< / > 148.58< / > -22.73< / > 231.02< / > 160.81< / > 2.85< / > 15.51< / > 159.38< / >< / > Trade Connectors< / > 476.98< / > 7.04< / > 508.57< / > 348.06< / > 0.88< / > 36.16< / > 104.95< / >< / > TransDigm

Group | 1107.99< / > 18.69< / > 1463.03< / > 1071.25< / > 0.00< / > 33.61< / > 61.25< / > | Travelers< / > 368.75< / > -1.52< / > 398.69< / > 252.26< / > 1.36< / > 9.77< / > 76.91< / >< / > Truist Financial< / > 46.11< / > -0.07< / > 56.20< / > 40.78< / > 4.51< / > 10.46< / > 56.33< / >< / > Uber Technologies< / > 71.51< / > 1.27< / > 100.35< / > 65.41< / > 0.00< / > 15.48< / > 146.06< / >< / > Union Pacific< / > 278.34< / > 0.14< / > 315.99< / > 215.53< / > 2.04< / > 23.20< / > 165.35< / >< / > United Parcel Service B< / > 94.57< / > 0.44< / > 122.41< / > 82.00< / > 6.94< / > 17.58< / > 70.87< / >< / > United

Rentals< / > 1056.37< / > 6.22< / > 1179.18< / > 701.59< / > 0.73< / > 25.35< / > 65.75< / >< / > UnitedHealth Group< / > 379.30< / > 8.35< / > 461.62< / > 255.97< / > 2.45< / > 24.31< / > 340.46< / >< / > US Bancorp< / > 57.08< / > 0.05< / > 66.08< / > 45.02< / > 3.78< / > 11.39< / > 88.93< / >< / > Valero Energy< / > 433.75< / > -10.05< / > 446.48< / > 155.29< / > 1.11< / > 18.08< / > 124.89< / >< / > Verizon Communications< / > 41.65< / > -4.70< / > 51.68< / > 10.60< / > 6.79< / > 10.85< / > 173.05< / >< / > Verset Media Group A< / > 30.64< / > -1.13< / > 59.00< / > 27.17< / > 4.90< / > 0.00< / > 4.25< / >< / > Vertex

Pharmaceuticals< / > 510.08< / > 6.83< / > 580.25< / > 402.58< / > 0.00< / > 29.47< / > 129.29< / >< / > Visa 'n' Energy< / > 385.75< / > -1.66< / > 437.55< / > 265.65< / > 0.00< / > 39.65< / > 169.55< / >< / > Walmart< / > 161.48< / > 5.34< / > 217.10< / > 123.66< / > 0.57< / > 26.91< / > 54.20< / >< / > Walmart< / > 111.35< / > 0.79< / > 135.16< / > 98.88< / > 0.89< / > 40.20< / > 883.42< / >< / > Walt Disney< / > 108.05< / > 1.03< / > 117.09< / > 92.19< / > 1.39< / > 22.19< / > 186.57< / >< / > Waste Management< / > 208.83< / > -1.27< / > 248.13< / > 194.11< / > 1.81< / > 29.50< / > 83.47< / >< / > Wells

Fargo< / > 83.55< / > 1.52< / > 97.76< / > 72.78< / > 2.39< / > 12.00< / > 252.66< / >< / > Weltower< / > 225.47< / > 2.43< / > 255.20< / > 163.75< / > 1.51< / > 98.03< / > 162.51< / >< / > Workday A< / > 186.59< / > -1.22< / > 247.40< / > 110.36< / > 0.00< / > 37.92< / > 36.57< / >< / > WW Grainger< / > 1289.79< / > 21.12< / > 1419.91< / > 906.52< / > 0.77< / > 32.83< / > 60.75< / >< / > Yum Brands< / > 144.82< / > 1.82< / > 170.14< / > 134.26< / > 2.07< / > 18.13< / > 39.52< / >< / > Zscint A< / > 74.81< / > 1.73< / > 148.30< / > 68.77< / > 2.83< / > 12.20< / > 30.91< / > |

大宗商品

| 利率：官方< / >< / > < / > 利率类型< / > 当前< / > 生效日期< / > 上次< / >< / > 美国< / > 联邦基金利率< / > 3.75-4.00< / > 16-09-2028< / > 3.50-3.75< / >< / > 美国< / > 最优惠利率< / > 7.00< / > 16-09-2028< / > 6.75< / >< / > 美国< / > 贴现率< / > 4.00< / > 16-09-2028< / > 3.75< / >< / > 欧元< / > 回购利率< / > 2.65< / > 16-09-2028< / > 2.40< / >< / > 英国< / > 回购利率< / > 3.75< / > 18-12-2025< / > 4.00< / >< / > 日本< / > 隔夜拆借利率< / > 1.25< / > 18-09-2028< / > 1.00< / >< / > 瑞士< / > 瑞士国家银行 (SNB)< / > 0.00< / > 19-06-2025< / > 0.25< / > |

r> |

利率固定于英国时间上午11点。

债券：十年期政府债券利差

4.00 | 0.53< / > -1.24< / > | 法国< / > 4.80< / > 1.33< / > -0.44< / > 瑞典< / > 3.09< / > -0.38< / > -2.15< / >< / > 德国< / > 3.47< / > 0.00< / > -1.77< / > 英国< / > 5.38< / > 1.91< / > 0.14< / >< / > 爱尔兰< / > 3.50< / > 0.03< / > -1.74< / > 美国< / > 5.24< / > 1.77< / > 0.00< / > |

数据由 ICE 提供：www.ice.com 所列价格仅供参考，且在发布时被认为准确。ICE 或金融时报（FT）不提供任何要约。金融时报不保证该信息的可靠性或完整性。对于因依赖或使用该信息而产生的任何损失，金融时报不承担责任且不承担法律责任。如需进一步信息，请联系 newspapers@ice.com

能源< / > 价格< / > 涨跌< / >< / > 布伦特原油< / > 106.70< / > 2.03< / >< / > 天然气< / > 3.17< / > -0.05< / >< / > 轻质原油< / > 93.58< / > 1.73< / >< / > 3.5 燃料油< / > 596.07< / > 5.53< / >< / > 欧洲石脑油< / > 903.50< / > 4.88< / > |

更多详情请参阅富时（FTSE）网站 www.ftse.com / products / indices / gilts。

债券：全球投资级

| 基本金属< / >< / > 铝< / > 3054.00< / > 5.50< / >< / > 铜< / > 14618.50< / > 78.50< / >< / > 铅< / > 1882.50< / > -5.50< / >< / > 镍< / > 15595.00< / > -27.00< / >< / > 锡< / > 53200.00< / > 194.00< / >< / > 锌< / > 3755.50< / > -50.00< / > |

债券：基准政府债券

| 贵金属< / >< / > 黄金< / > 4164.89< / > -23.93< / >< / > 白银 ($)< / > 60.24< / > -0.54< / >< / > 铂金< / > 1680.90< / > -6.00< / >< / > 钯金< / > 1145.93< / > -2.08< / >< / > 铁矿石< / > 90.85< / > 0.10< / > |

农业< / > 价格< / > 涨跌< / >< / > 玉米< / > 483.50< / > 3.75< / >< / > 小麦< / > 206.00< / > -0.50< / >< / > 油菜籽< / > 520.25< / > 18.25< / >< / > 向日葵籽< / > 10400.00< / > 111.00< / >< / > 大豆< / > 1290.75< / > -1.25< / >< / > 豆粕< / > 373.50< / > 4.80< / >< / > 可可 (ICE Liffe)< / > 4246.00< / > 13.00< / >< / > 可可 (ICE US)< / > 5673.00< / > 8.00< / >< / > 咖啡 (罗布斯塔)< / > 3422.00< / > 44.00< / >< / > 咖啡 (阿拉比卡)< / > 350.00< / > -5.80< / >< / > 白糖< / > 542.50< / > 1.40< / >< / > 糖 #11< / > 20.75< / > 0.50< / >< / > 棉花< / > 80.67< / > 0.13< / >< / > 橙汁< / > 151.85< / > 3.15< / >< / > Maple Leaf< / > 4142.00< / > -19.29< / >< / > 活牛< / > 224.18< / > -0.80< / >< / > 育肥牛< / > 341.98< / > -1.88< / >< / > 精瘦猪< / > 75.13< / > 0.08< / >< / > 棕榈油 (马来西亚)< / > 1145.50< / > 9.50< / > |

Tradeweb

| 大宗商品< / >< / > 波罗的海干散货指数< / > 2852.00< / > -65.00< / >< / > Richards ICE 期货< / > 127.50< / > -0.25< / > |

数据来源：能源：NYMEX。基本金属：LME / 伦敦金属交易所。玉米、小麦、大豆：CBOT。活牛、活肥牛、精瘦猪：CME。

| 到期日< / > 票面利率< / > 买入价< / > 买入收益率< / > 当日< / > 当周< / > | 美元< / >< / > 摩根士丹利< / > 30 / 01< / > 4.00< / > 97.60< / > 4.57< / > -0.02< / > 0.20< / >< / > Trust Finl Corp< / > 28 / 06< / > 4.12< / > 99.45< / > 5.12< / > 0.02< / > 0.07< / >< / > National Rural< / > 32 / 11< / > 4.02< / > 92.01< / > 5.27< / > -0.03< / > 0.83< / >< / > Washington Gaslight Co< / > 36 / 03< / > 5.78< / > 97.97< / > 5.02< / > 0.00< / >< / > Northern States Power< / > 28 / 03< / > 8.13< / > 100.66< / > 5.05< / > 0.00< / >< / > Oklahoma Gas & Elec< / > 28 / 04< / > 6.50< / > 101.37< / > 4.58< / > 0.32< / > -0.67< / >< / > | 欧元< / >< / > 德国< / > 25 / 08< / > 2.22< / > 88.63< / > 3.20< / > -0.01< / > -0.05< / >< / > 西班牙< / > 46 / 10< / > 2.88< / > 79.32< / > 4.47< / > 0.03< / > 0.44< / >< / > 比利时< / > 47 / 06< / > 1.50< / > 56.99< / > 4.98< / > -0.67< / > -0.99< / >< / > 法国< / > 48 / 05< / > 2.00< / > 57.76< / > 5.34< / > -0.29< / > -0.51< / >< / > | 英镑< / >< / > 英国< / > 46 / 12< / > 4.25< / > 80.86< / > 5.88< / > 0.23< / >< / > 英国< / > 47 / 07< / > 1.50< / > 47.44< / > 5.94< / > 0.17< / > |

< / > 10月12日< / > 当日变动< / > 前值< / > 52周最高< / > 52周最低< / >< / > VIX< / > 15.13< / > 0.29< / > 14.84< / > 35.30< / > 13.38< / >< / > VXD< / > 14.59< / > -0.53< / > 15.12< / > 42.71< / > 2.43< / >< / > VDAX< / > 17.97< / > -0.11< / > 18.08< / > 35.58< / > 13.53< / > |

< / > 到期日< / > 票面利率< / > 买入价< / > 买入收益率< / > 当日收益率变动< / > 每周收益率变动< / > 每月收益率变动< / > 年度收益率变动< / >< / > < rowspan="2">澳大利亚< / > 06 / 54< / > 4.75< / > 85.67< / > 5.79< / > -0.02< / > 0.55< / >< / > 04 / 27< / > 4.75< / > 99.95< / > 4.84< / > 0.00< / > 0.01< / > -0.02< / > 1.47< / >< / > < rowspan="2">奥地利< / > 02 / 33< / > 2.88< / > 96.31< / > 3.56< / > 0.00< / > 0.06< / > 0.05< / > 0.68< / >< / > 10 / 53< / > 3.13< / > 84.85< / > 4.09< / > -0.01< / > 0.01< / > -0.01< / > 0.26< / >< / > 比利时< / > 06 / 54< / > 3.25< / > 74.79< / > 5.00< / > 0.01< / > 0.05< / > 0.16< / > 0.71< / >< / > < rowspan="2">加拿大< / > 06 / 27< / > 1.00< / > 99.01< / > 2.82< / > 0.00< / > 0.03< / > -0.18< / >< / > 12 / 55< / > 2.75< / > 75.19< / > 3.93< / > 0.00< / > 0.03< / > 0.13< / > 0.15< / >< / > < rowspan="2">丹麦< / > 11 / 33< / > 2.25< / > 94.15< / > 2.78< / > 0.00< / > 0.20< / >< / > 11 / 39< / > 4.50< / > 111.28< / > 3.42< / > -0.02< / > -0.03< / > 0.48< / >< / > < rowspan="2">芬兰< / > 09 / 27< / > 0.50< / > 97.72< / > 3.02< / > 0.03< / > 0.11< / > -0.04< / > 0.89< / >< / > 09 / 33< / > 3.00< / > 95.91< / > 3.67< / > 0.01< / > 0.04< / > 0.08< / > 0.70< / >< / > <

rowspan="2">法国 | 05 / 54< / > 3.00< / > 66.13< / > 5.38< / > 0.04< / > 0.05< / > 0.30< / > 0.94< / > | 11 / 33< / > 3.50< / > 93.67< / > 4.55< / > 0.05< / > -1.08< / > -0.26< / >< / > < rowspan="2">德国< / > 08 / 33< / > 2.60< / > 95.51< / > 3.35< / > 0.01< / > 0.00< / > -0.03< / > 0.64< / >< / > 08 / 53< / > 1.75< / > 65.96< / > 3.86< / > -0.01< / > -0.02< / > -0.04< / > 0.37< / >< / > <

rowspan="2">希腊< / > 06 / 28< / > 3.88< / > 100.91< / > 3.30< / > -0.03< / > -0.05< / > 0.01< / > 0.86< / >< / > 06 / 33< / > 4.25< / > 100.38< / > 4.18< / > -0.01< / > 0.84< / > 0.17< / > 0.90< / >< / > 爱尔兰< / > 10 / 32< / > 0.35< / > 83.48< / > 3.44< / > -0.15< / > -0.58< / > 0.46< / > 0.81< / >< / > < rowspan="2">意大利< / > 12 / 27< / > 2.63< / > 99.23< / > 3.30< / > 0.03< / > 0.08< / > 1.05< / >< / > 03 / 34< / > 4.13< / > 99.19< / > 4.34< / > 0.01< / > -0.04< / > 0.23< / > 1.03< / >< / > <

rowspan="2">荷兰< / > 01 / 54< / > 2.00< / > 69.03< / > 3.85< / > -0.01< / > -0.03< / > -0.04< / > 0.27< / >< / > 07 / 33< / > 2.50< / > 94.42< / > 3.44< / > 0.01< / > -0.01< / > 0.01< / > 0.64< / >< / > < rowspan="2">波兰< / > 04 / 28< / > 2.75< / > 97.34< / > 4.58< / > 0.02< / > 0.00< / > -4.19< / > 0.74< / >< / > 10 / 33< / > 6.00< / > 99.33< / > 6.12< / > 0.03< / > 0.04< / > 0.11< / > 1.18< / >< / > 葡萄牙< / > 07 / 32< / > 1.63< / > 89.84< / > 3.61< / > 0.01< / > -0.03< / > 0.11< / > 0.83< / >< / > <

rowspan="2">西班牙< / > 10 / 52< / > 1.88< / > 59.93< / > 4.55< / > 0.00< / > -0.04< / > 0.08< / > 0.51< / >< / > 10 / 33< / > 3.50< / > 98.28< / > 3.82< / > 0.01< / > -0.02< / > 0.13< / > 0.77< / >< / > 瑞典< / > 11 / 33< / > 1.75< / > 96.30< / > 2.50< / > 0.00< / > -0.14< / >< / > 瑞士< / > 03 / 36< / > 2.50< / > 117.84< / > 0.32< / > 0.00< / > -0.02< / > -0.22< / > -0.82< / >< / > < rowspan="2">英国< / > 06 / 28< / > 0.00< / > 92.61< / > 4.76< / > 0.01< / > 0.05< / > 0.99< / >< / > 10 / 53< / > 3.75< / > 70.60< / > 5.95< / > -0.02< / > 0.02< / > 0.73< / >< / > < rowspan="2">美国< / > 11 / 33< / > 4.50< / > 96.11< / > 5.16< / > 0.00< / > -0.07< / > 0.29< / > 1.19< / >< / > 11 / 53< / > 4.75< / > 87.67< / > 5.64< / > -0.01< / > -0.09< / > 0.27< / > 0.81< / > |

英国国债（GILTS）：英国现金市场

10月12日< / > 价格< / > 收益率< / > 赎回收益率< / > 当日< / > 当周< / > 最高< / > 最低< / >< / > 1.25% '27< / > 97.63< / > 1.28< / > 4.43< / > -0.02< / > 0.04< / > 97.71< / > 95.53< / >< / > 0.875% '29< / > 88.93< / > 0.98< / > 4.85< / > -0.06< / > -0.09< / > 91.00< / > 0.01< / >< / > 1% '32< / > 81.36< / > 1.23< / > 5.05< / > -0.04< / > -0.10< / > 85.07< / > 81.01< / >< / > 4.25% '36< / > 91.70< / > 4.63< / > 5.39< / > 0.05< / > -0.10< / > 99.39< / > 91.15< / >< / > 4.5% '42< / > 86.63< / > 5.19< / > 5.78< / > 0.20< / > 0.02< / > 96.45< / > 85.71< / >< / > 3.75% '52< / > 71.48< / > 5.25< / > 5.92< / > 0.31< / > 0.21< / > 81.50< / > 70.51< / >< / > 4% '60< / > 72.71< / > 5.50< / > 5.88< / > 0.34< / > 0.29< / > 83.52< / > 71.62< / > |

收盘价以及最高价和最低价以交易货币计。市值以当地货币计。最高价和最低价基于滚动 52 周期间。

-18.07

-05.11

英国国债：英国富时精算师指数 (UK FTSE ACTUARIES INDICES)

价格指数固定票息 | 10月12日< / > 当日涨跌 %< / > 总回报< / > 月回报< / > 年回报< / > 收益率< / > | 5年期以下< / > 84.48< / > 0.01< / > 2652.52< / > 0.32< / > 0.90< / > 4.84< / >< / > 5-10年期< / > 141.37< / > 0.07< / > 3346.86< / > 0.01< / > -2.03< / > 5.25< / >< / > 10-15年期< / > 139.22< / > 0.19< / > 3659.84< / > -0.03< / > -3.76< / > 5.62< / >< / > 5-15年期< / > 139.12< / > 0.11< / > 3413.11< / > 0.00< / > -2.56< / > 5.40< / >< / > 15年期以上< / > 162.28< / > 0.46< / > 3238.91< / > 0.54< / > -6.91< / > 5.87< / >< / > 所有股票< / > 123.84< / > 0.15< / > 3102.91< / > 0.25< / > -2.35< / > 5.57< / > |

指数挂钩< / > 10月12日< / > 当日涨跌 %< / > 月涨跌 %< / > 年涨跌 %< / > 总回报< / > 1个月回报< / > 1年回报< / >< / > 5年期以下< / > 365.36< / > 0.01< / > 0.54< / > 2.85< / > 3188.50< / > 0.56< / > 3.68< / >< / > 5年期以上< / > 467.22< / > 0.49< / > 0.87< / > -2.30< / > 3663.57< / > 1.06< / > -1.69< / >< / > 5-15年期< / > 456.49< / > 0.21< / > 0.25< / > 0.80< / > 3836.21< / > 0.46< / > 1.56< / >< / > 15年期以上< / > 466.12< / > 0.79< / > 1.55< / > -5.25< / > 3520.96< / > 1.71< / > -4.78< / >< / > 所有股票< / > 465.82< / > 0.38< / > 0.80< / > -1.26< / > 3728.08< / > 0.94< / > -0.62< / > |

收益率指数< / > 10月12日< / > 10月9日< / > 一年前< / >< / > 5年期< / > 5.02< / > 4.26< / >< / > 10年期< / > 5.43< / > 5.44< / > 4.59< / >< / > 15年期< / > 5.71< / > 5.73< / > 4.88< / >< / > 20年期< / > 5.85< / > 5.87< / > 5.02< / >< / > 45年期< / > 5.68< / > 5.71< / > 4.91< / > |

📄 Original Section

MARKET DATA

Closed

STOCK MARKET: BIGGEST MOVERS

EURO MARKETS

Day ↗ 0.38% Month ↘ -1.64% Year ↘ -2.61%

Day ↗ 0.58% Month ↘ -4.85% Year ↗ 16.76%

Hang Seng | Country | Index | Latest | Previous | Ireland | ISEQ Overall | 14123.86 | 13901.81 | Israel | Tel Aviv 125 | 3928.93 | 3925.79 | Italy | FTSE Italia All-Share | 52585.72 | 52297.09 | Italy | FTSE Italia Mid Cap | 60014.93 | 59778.63 | Italy | FTSE MIB | 50035.00 | 49746.31 | Japan | Nikkei 225 | 69030.92 | 69030.92 | Japan | Topix | 4104.81 | 4104.81 | Kuwait | KSK Market Index | 8827.60 | 8878.30 | Latvia | OMX Riga | 972.72 | 980.42 | Lithuania | OMX Vilnius | 1506.27 | 1504.85 | Luxembourg | Lux€ | 1771.13 | 1774.12 | Mexico | IPC Mexico City | 66529.88 | 66048.57 | Malaysia | FTSE Bursa ACD | 1618.01 | 1606.45 | Morocco | MASI | 16954.50 | 16797.10 | Netherlands | AEX | 1135.49 | 1130.95 | Netherlands | AX All Share | 1534.69 | 1534.71 | New Zealand | NZ 50 | 13827.62 | 13749.35 | Nigeria | SE All Share | 248363.55 | 248363.55 | FTSE All World

\$ per € | Country | Index | Latest | Previous | Norway | Solo All Share | 2485.95 | 2480.48 | Pakistan | KSE 100 | 165124.41 | 167089.28 | Philippines | Manila Comp | 5743.18 | 5700.99 | Poland | Wig | 156834.55 | 157901.42 | Portugal | PSI 20 | 9311.49 | 9267.50 | Portugal | PSI General | 6350.16 | 5309.79 | Romania | Romania BECT Index | 33253.02 | 33400.45 | Russia | Russia Traded Index in USD | 988.10 | 988.10 | Saudi Arabia | TAOAHWOL All Share Index | 10293.96 | 10360.74 | Singapore | FTSE Straße Times | 5415.48 | 5401.89 | Slovakia | SAK | 317.85 | 317.85 | Slovenia | SBI TOP | 3081.44 | 2100.87 | South Africa | FTSE/JSE All Share Index | 108758.94 | 108758.94 | South Africa | FTSE/JSE Res | 65606.75 | 65660.55 | South Africa | FTSE/JSE Top 40 | 100963.75 | 100764.33 | South Korea | Kospi | 6384.24 | 6625.93 | South Korea | Kospi 200 | 1004.92 | 1044.52 | Spain | Spain BRX 35 | 13935.80 | 19033.10 | ACTIVE STOCKS | stock traded m's | close price | Day's change | Stellantis | 40.19 | 3.97 | -0.03 | Intesa Sanpaolo | 28.87 | 6.18 | 0.07 | Banco Santander | 13.26 | 12.26 | 0.24 | Telefonica | 12.56 | 3.22 | -0.03 | Enel | 11.65 | 8.92 | 0.05 | Nokia | 10.22 | 9.01 | -0.30 | Royal KPN | 7.91 | 3.88 | - | AIB Group | 7.55 | 10.85 | - | Iberdrola | 7.33 | 21.68 | 0.42 | Banco De Sabadell | 6.95 | 3.54 | - | BIGGEST MOVERS | Close | Day's | Day's | ACTIVE STOCKS | stock traded m's | close price | Day's change | Lloyds Bkg Gp | 93.92 | 1.04 | 0.02 | Vodafone | 84.07 | 1.17 | -0.02 | BP | 28.15 | 5.88 | 0.02 | Barclays | 27.71 | 4.38 | 0.08 | Glencore | 21.51 | 5.86 | 0.02 | Centrica | 20.43 | 1.48 | 0.01 | Tesco | 20.16 | 5.11 | 0.07 | Taylor Wimpey | 17.21 | 0.73 | - | HSBC | 14.79 | 14.28 | 0.33 | Rolls-Royce | 14.60 | 13.96 | 0.10 | UK MARKET WINNERS & LOSERS

Day ▷ -0.43% Month ▷ -2.34% Year ▷ -3.48%

\$ per £ ¥ per \$

0.1768% | Country | Index | Latest | Previous | Sweden | OMX Stockholm 30 | 3269.79 | 3256.14 | Sweden | OMX Stockholm AS | 1124.99 | 1122.11 | Switzerland | SMI Index | 13871.84 | 13787.40 | Taiwan | Weighted-Stock Index | 49301.86 | 49313.44 | Thailand | Bangkok SET | 1571.74 | 1577.65 | Turkey | BIST 100 | 12150.67 | 12265.98 | UK | FTSE 100 | 10656.28 | 10552.05 | UK | FTSE Good UK | 9255.45 | 9155.43 | UK | FTSE All Share | 5746.57 | 5693.90 | UK | FTSE techMARK 100 | 9657.23 | 9572.57 | U.S.A. | Dow Jones Composite | 16182.76 | 16137.50 | U.S.A. | Dow Jones Industrial | 51870.64 | 51654.95 | U.S.A. | Dow Jones Transport | 19766.81 | 19804.14 | U.S.A. | Dow Jones Utilities | 411.23 | 411.23 | U.S.A. | Nasdaq 100 | 30701.01 | 30883.15 | U.S.A. | Nasdaq Composite | 27294.77 | 27366.17 | U.S.A. | NYSE Composite | 23995.78 | 23939.10 | U.S.A. | S&P 500 | 7602.05 | 7811.54 | AMERICA | ACTIVE STOCKS | stock traded m/s | close price | Day's change | Intel | 39.51 | 101.16 | -3.54 | Nvidia | 37.61 | 226.41 | -2.87 | Micron Technology | 14.02 | 996.21 | -32.79 | Palantir | 13.41 | 207.07 | -1.98 | Super Micro Computer | 12.95 | 39.41 | - | Apple | 11.58 | 339.89 | 3.25 | Tesla | 11.22 | 379.06 | -3.64 | Meta Platforms | 10.69 | 744.72 | 26.05 | Amazon.com | 10.45 | 260.38 | -2.06 | Netflix | 9.99 | 70.85 | 0.55 |

| ACTIVE STOCKS | stock traded m's | close price | Day's change | Nippon Tel & Tel | 152.03 | 172.90 | 0.80 | Tokio Marine Hldgs | 94.66 | 525.70 | 7.60 | SoftBank Grp Corp | 72.26 | 5803.00 | -237.00 | SoftBank Corp | 69.85 | 242.00 | 0.70 | Mitsubishi UFJ | 34.40 | 3462.00 | -42.00 | Nissan Motor Co | 33.02 | 284.00 | 1.00 | Fujikura | 29.91 | 5413.00 | -99.00 | Nippon Steel | 28.20 | 629.40 | -1.90 | Tokyo Electric Power | 26.78 | 520.80 | 6.20 | Tayo Yuden | 22.46 | 11135.00 | 180.00 | ---

透明度。价格发现。创新。

实际收益率 0% 通胀 | 10月12日< / > 久期（年）< / > 前值< / > 一年前< / > | 5年及以下< / > 1.02< / > 2.59< / > 1.03< / > 0.73< / >< / > 5年以上< / > 2.36< / > 16.14< / > 2.39< / > 1.90< / >< / > 5-15年< / > 2.09< / > 9.42< / > 2.11< / > 1.61< / >< / > 15年以上< / > 2.48< / > 22.92< / > 2.51< / > 2.01< / >< / > 所有股票< / > 2.30< / > 13.24< / > 2.33< / > 1.86< / > |

实际收益率 5% 通胀< / > 10月12日< / > 久期（年）< / > 前值< / > 一年前< / >< / > 5年及以下< / > 0.81< / > 2.59< / > 0.81< / > 0.43< / >< / > 5年以上< / > 2.34< / > 16.14< / > 2.37< / > 1.88< / >< / > 5-15年< / > 2.04< / > 9.42< / > 2.06< / > 1.54< / >< / > 15年以上< / > 2.47< / > 22.92< / > 2.50< / > 2.00< / >< / > 所有股票< / > 2.27< / > 13.24< / > 2.30< / > 1.82< / > |

Ice

市场与数据在此汇聚

---

📄 Original Section

FT.COM/MARKETSDATA | FTSE 100 | price(£) | % Chg week | % Chg ytd | Winners | Experian | 26.98 | 9.41 | -19.77 | RELX | 27.60 | 8.83 | -8.61 | Imperial Brands | 26.64 | 8.73 | -14.59 | Tesco | 5.11 | 8.68 | 15.66 | The Sage Grp | 10.85 | 8.23 | 0.14 | Autotrader Group | 4.95 | 7.53 | -15.54 | JD Sports Fashion | 0.86 | 7.53 | 1.47 | Haleon | 3.55 | 7.26 | -5.34 | Marks & Spen | 4.02 | 6.80 | 21.76 | Reckitt Benckiser | 52.16 | 6.69 | -16.57 |

Day ▷ -0.76% Month ▷ -3.82% Year ▷ -12.47%

£ per €

-0.1595%

Oil Brent \$ | Country | Index | Latest | Previous | Venezuela | IBC | 9385.56 | 9385.56 | Vietnam | Viet Nam Index | 1720.98 | 1735.09 | Cross-Border | Euro Stoxx 50 (Eur) | 6201.21 | 6173.37 | Netherlands | Euronext 100 ID | 1866.11 | 1859.81 | Cross-Border | FTSE 4Good Global ($) | 21252.60 | 21271.75 | Cross-Border | FTSE All World ($) | 753.99 | 754.86 | Cross-Border | FTSE €300 | 2538.74 | 2523.06 | Cross-Border | FTSE Eurofirst 100 | 4907.63 | 4876.74 | Cross-Border | FTSE Global 100 ($) | 5887.54 | 5908.23 | Cross-Border | FTSE Gold Min ($) | 5597.73 | 5597.73 | Cross-Border | FTSE Latibex Top (Eur) | 7275.10 | 7264.60 | Cross-Border | FTSE World ($) | 1412.50 | 1414.33 | Cross-Border | FTSEurofirst 100 (Eur) | 7047.96 | 7001.08 | Cross-Border | FTSEurofirst 80 (Eur) | 8450.59 | 8416.82 | Gold \$ | FTSE 250 | price(£) | % Chg week | % Chg ytd | Winners | Bridgepoint Group | 4.12 | 23.72 | 45.17 | Avon Technologies | 23.30 | 23.54 | 28.45 | Ocado Group | 3.01 | 17.13 | 27.46 | Baltic Classifieds Group | 1.92 | 12.23 | -5.32 | B&M European Value | 2.71 | 11.05 | 60.78 | Rightmove | 4.92 | 10.94 | -5.31 | Mony Group | 1.91 | 10.53 | 3.92 | Greencore | 2.62 | 7.46 | 3.23 | Domino's Pizza | 2.27 | 6.97 | 31.03 | Genus | 22.72 | 6.87 | -12.45 | BIGGEST MOVERS | Close price | Day's change | Day's change% | Ups | Fair Isaac | 708.23 | 40.65 | 6.09 | eBay | 116.71 | 4.52 | 4.03 | Medtronic | 91.74 | 3.26 | 3.68 | Meta Platforms | 744.72 | 26.05 | 3.62 | GE HealthCare Tech | 68.00 | 2.27 | 3.45 | Downs | Corning | 146.97 | -9.71 | -6.20 | Hewlett Packard Ent | 70.10 | -3.36 | -4.57 | Chipotle Mexican | 30.23 | -1.36 | -4.31 | Palo Alto Networks | 402.62 | -16.16 | -3.86 | CrowdStrike Hldgs | 264.61 | -10.43 | -3.79 | Losers | Vodafone | 1.17 | -8.25 | 18.02 | Airtel Africa | 2.90 | -6.70 | -18.47 | Barratt Redrow | 2.91 | -5.67 | -23.54 | Rolls-Royce | 13.96 | -5.58 | 21.36 | Melrose Ind | 4.50 | -5.33 | -23.56 | Lion Finance | 127.20 | -4.22 | 36.77 | Standard Chartered | 21.59 | -3.87 | 18.50 | Intl Cons Airlines | 4.19 | -3.46 | 1.13 | Polar CapTech | 6.93 | -3.35 | 49.35 | Balfour Beatty | 8.81 | -3.29 | 23.91 | Broader Bank Pte. | price | change | change% | Ups | Adyen | 920.80 | 34.70 | 3.92 | Wolters Kluwer CVA | 77.16 | 2.16 | 2.88 | Santander Bank Polska | 789.20 | 21.40 | 2.79 | Carlsberg | 895.40 | 21.60 | 2.47 | Rheinmetall | 962.20 | 23.10 | 2.46 | Downs | Nokia | 9.01 | -0.30 | -3.22 | Infineon Technologies | 57.22 | -1.64 | -2.79 | STMicroelectronics | 45.56 | -0.98 | -2.11 | ASML Holding | 1575.80 | -25.80 | -1.61 | H & M Hennes & Mauritz | 163.15 | -2.45 | -1.48 | BIGGEST MOVERS | Close price | Day's change | Day's change% | Ups | ComaToc | 2.31 | 0.11 | 4.82 | HG Capital | 3.79 | 0.14 | 3.69 | RTW Biotech Opps | 1.74 | 0.06 | 3.65 | Amaroq | 1.21 | 0.04 | 3.42 | Hunting | 4.09 | 0.14 | 3.41 | Downs | Hays | 0.56 | -0.08 | -12.84 | AEP Plantations | 1.77 | -0.20 | -10.08 | Michael Page | 1.94 | -0.18 | -8.49 | Baltic Classifieds Group | 1.92 | -0.07 | -3.47 | Raspberry Pi Holdings | 6.43 | -0.21 | -3.16 | CURRENCIES | BIGGEST MOVERS | Close price | Day's change | Day's change% | Ups | Nomura Research Ins | 5613.00 | 272.00 | 5.09 | Trend Micro | 7587.00 | 355.00 | 4.91 | Screen Holdings | 16545.00 | 635.00 | 3.99 | Japan Tobacco | 7230.00 | 270.00 | 3.88 | Nintendo | 8146.00 | 295.00 | 3.76 | Downs | Fast Retailing Co | 71780.00 | -3020.00 | -4.04 | Renesas Elec | 3600.00 | -150.00 | -4.00 | Asahi Kasei | 1585.50 | -65.00 | -3.94 | SoftBank Grp Corp | 5803.00 | -237.00 | -3.92 | Murata Manufacturing Co | 7970.00 | -297.00 | -3.59 | Losers | 18.02 | Pennon Group | 3.23 | -20.41 | -32.31 | 18.47 | Hays | 0.56 | -10.90 | -0.53 | 23.54 | AEP Plantations | 1.77 | -8.59 | 28.91 | 21.36 | Vistry Group | 2.19 | -8.38 | -65.89 | 23.56 | Inchcape | 6.80 | -7.04 | -11.57 | 36.77 | Playtech | 3.60 | -6.93 | 26.98 | 18.50 | Hill & Smith | 30.70 | -6.83 | 43.46 | 1.13 | Michael Page | 1.94 | -6.73 | -17.59 | 49.35 | Taylor Wimpey | 0.73 | -6.63 | -31.67 | 23.91 | Raspberry Pi Holdings | 6.43 | -6.40 | 114.36 | FTSE Small Cap | price(£) | % Chg week | % Chg ytd | Winners | Kenmare Resources | 2.28 | 25.69 | -7.69 | Capita | 2.50 | 17.92 | -38.35 | Aston Martin Lagonda | 0.41 | 14.52 | -34.95 | Tullow Oil | 0.11 | 11.56 | 81.82 | EnQuest | 0.30 | 9.39 | 180.19 | Fevara | 1.49 | 8.79 | 11.24 | ASA International | 2.48 | 8.30 | 30.87 | Braemar | 2.45 | 6.99 | 13.95 | Mortgage Advice Bureau | 3.58 | 6.72 | -48.04 | Applied Nutrition | 2.81 | 6.43 | 11.71 | Industry Sectors | price(£) | %Chg week | %Chg ytd | Winners | Software & Computer Svcs | 1960.38 | 7.99 | -3.99 | Technology | 1716.63 | 7.89 | -3.69 | Real Estate Investment & Svcs | 1988.83 | 7.78 | -7.14 | Consumer Digital Services | 179.55 | 7.72 | -6.07 | Personal Care Drug & Grocery | 4895.28 | 6.27 | -0.52 | Finance & Credit Services | 14048.46 | 6.06 | -2.99 | Tobacco | 45896.59 | 6.04 | -3.41 | Consumer Staples | 18357.89 | 5.86 | 0.12 | Oil Gas & Coal | 12033.69 | 5.26 | 38.45 | Energy | 12650.75 | 5.22 | 38.48 | Losers | 32.31 | The Smarter Web Company | 0.62 | -19.91 | -0.53 | Hostelworld Group | 0.89 | -14.81 | 28.91 | Aptitude Software Group | 2.40 | -10.78 | 65.89 | ASOS | 4.55 | -9.26 | 11.57 | The Beauty Tech Group | 4.41 | -5.97 | 26.98 | Geiger Counter | 0.52 | -5.16 | 43.46 | Baker Steel Resources Tst | 1.30 | -5.11 | 17.59 | abrdn Euro Logistics | 0.10 | -4.72 | 31.67 | JPMorgan Asia Gwth & Inc | 5.82 | -4.59 | 14.36 | Marshalls | 1.60 | -4.30 | Losers | Alternative Energy | 38.24 | -10.85 | 73.89 | Techn Hardware & Equip | 129.88 | -6.40 | 114.36 | Telecomms Svc Providers | 3224.25 | -5.69 | 12.43 | Telecommunications | 2066.89 | -5.69 | 12.43 | Aerospace & Defense | 22872.30 | -4.47 | 13.92 | Hhold Goods & Home Const | 7996.39 | -2.96 | -25.86 | Leisure Goods | 38937.36 | -2.51 | -13.19 | Banks | 8849.65 | -1.92 | 11.66 | Industrials | 11451.14 | -1.73 | 9.48 | Construction & Materials | 15849.76 | -1.58 | 15.75 | Oct 12 | Closing Mid | DOLLAR | EURO | POUND | Day's Change | Change | Closing Mid | Day's Change | Change | Closing Mid | Day's Change | Closing Mid | Argentine Peso | 1516.7470 | 0.9786 | -8.1196 | 1694.6614 | -2.3929 | -14.5616 | 2005.0038 | 0.3843 | Australian Dollar | 1.4362 | 0.0025 | 0.0009 | 1.604 | -0.0006 | -0.0041 | 1.8895 | 0.0024 | Bahraini Dinar | 0.3776 | - | 0.0005 | 3.4219 | -0.0009 | 0.0007 | 0.4891 | - | Bolivian Boliviano | 11.7230 | -0.1200 | -0.0277 | 13.1059 | -0.1913 | -0.3448 | 1201.5264 | -0.1658 | Brazilian Real | 4.9873 | 0.0005 | 0.0038 | 5.5723 | -0.0109 | -0.0137 | 6.9300 | -0.0024 | Canadian Dollar | 1.4272 | -0.0002 | 0.0029 | 1.5947 | -0.0035 | -0.0018 | 1.8867 | -0.0011 | Chinese Yuan | 976.5008 | -1.3650 | 2.7100 | 1091.5172 | -3.7753 | -0.4749 | 1201.4395 | -2.3915 | Chinese Yuan | 6.6829 | 0.0006 | -0.0125 | 7.4780 | -0.0147 | -0.0381 | 8.8477 | -0.0032 | Colombian Peso | 3189.0500 | -2.9800 | -28.6700 | 3563.1257 | -10.6924 | -43.6168 | 4215.7649 | -5.8679 | Costa Rican Colon | 452.7300 | -1.7200 | -5.1700 | 505.8355 | -2.4632 | -7.4249 | 598.4872 | -1.9513 | Czech Republic | 217.816 | 0.0426 | -0.0617 | 24.3145 | -0.0575 | -0.0617 | 21.6391 | -0.0452 | Danish Krone | 6.6893 | 0.0143 | 0.0225 | 7.4751 | 0.0006 | 0.0012 | 8.8443 | 0.0149 | Egyptian Pound | 52.5500 | 0.1800 | 0.1800 | 58.7411 | 0.0806 | -0.0058 | 69.4685 | 0.2065 | Hong Kong Dollar | 7.8475 | -0.0005 | 0.0003 | 9.7800 | -0.0186 | -0.0178 | 10.3700 | -0.0054 | Hungarian Dinar | 326.7038 | 0.1353 | -1.3595 | 365.0250 | -0.6000 | -2.7000 | 431.8848 | -0.1171 | Indian Rupee | 95.7750 | -0.9562 | -0.5250 | 107.0094 | -1.2909 | -0.9333 | 126.6098 | -1.322 | FTSE ACTUARIES SHARE INDICES | Weeks Change | Oct 12 | Closing Mid | DOLLAR | EURO | POUND | Day's Change | Weeks Change | Closing Mid | Day's Change | Weeks Change | Closing Mid | Day's Change | Weeks Change | Closing Mid | -11.0386 | Indonesian Rupiah | 17900.0000 | 20.0000 | -- | 19999.6700 | -18.7790 | -64.4100 | 23662.3600 | 15.7110 | -3.5800 | 0.0009 | Israeli Shekel | 3.0735 | 0.0105 | 0.0201 | 3.4345 | 0.0548 | 0.0114 | 4.0636 | 0.0121 | 0.0260 | - | Japanese Yen | 156.6950 | 0.2800 | 0.7350 | 177.3899 | -0.0515 | 0.2325 | 209.7889 | 0.2752 | 0.9401 | -0.3593 | Nestle Nippon | 123.7000 | -- | 0.0502 | 145.8138 | -0.2984 | -0.4250 | 171.4570 | -0.0778 | 0.0404 | 0.0040 | Kuwait Dinar | 0.3116 | 0.0005 | 0.0022 | 3.3462 | -0.0002 | 0.0014 | 4.4119 | 0.0004 | 0.0028 | 0.0035 | Malaysian Ringgit | 4.0842 | -0.0008 | 0.0029 | 4.5633 | -0.0103 | -0.0177 | 5.3992 | -0.0034 | -0.0044 | 0.0009 | Mexican Peso | 18.2655 | -0.1150 | 0.1155 | 20.4380 | -0.1708 | 0.0342 | 24.1483 | -0.1631 | 0.1416 | -0.0179 | New Zealand Dollar | 1.7678 | 0.0040 | 0.0016 | 1.9975 | 0.0003 | -0.0047 | 2.3634 | 0.0042 | 0.0018 | -38.5439 | Nigerian Naira | 1331.4300 | 0.7300 | 2.1500 | 1467.6075 | -2.2444 | -2.3832 | 1760.0657 | 0.1681 | 2.5762 | -6.2935 | Norwegian Krone | 9.5646 | -0.0071 | -0.0188 | 10.6865 | -0.0300 | -0.0555 | 13.6459 | -0.0132 | -0.0268 | -0.0001 | Pakistan rupee | 278.8750 | -0.0500 | -0.0515 | 369.5244 | -0.6839 | -1.0215 | 569.6149 | -0.2222 | -0.0132 | 0.0285 | Peruvian Nuevo Sol | 3.4353 | -0.0205 | 0.0105 | 3.8382 | -0.0309 | -0.0006 | 4.5413 | -0.0292 | -0.0132 | 0.2010 | Philippine Peso | 62.7650 | -0.0400 | 0.1200 | 10.3787 | -0.1891 | -0.0914 | 82.9722 | -0.0926 | 0.1461 | -0.0112 | Polish 1 Yuan | 3.9344 | 0.0058 | 0.0127 | 3.8466 | -0.0025 | 0.0542 | 18.1876 | 0.0054 | 0.0392 | -1.8627 | Romanian Lou | 4.7754 | 0.0044 | 0.0096 | 5.3356 | -0.0061 | -0.0064 | 6.3129 | 0.0029 | 0.0118 | -0.7133 | Russian Ruble | 83.9000 | -0.8500 | -1.1000 | 93.7415 | -1.1447 | -1.5351 | 110.9116 | -1.1746 | -1.4712 | FTSE SECTORS: LEADERS & LAGGARDS

Year to date percentage changes | Oct 12 | DOLLAR | EURO | POUND | Closing Mid | Day's Change | Week's Change | Closing Mid | Day's Change | Week's Change | Closing Mid | Day's Change | Week's Change | Closing Mid | Saudi Riyal | 3.7557 | -0.0001 | 0.0015 | 4.1962 | -0.0088 | -0.0119 | 4.9649 | -0.0024 | 0.0012 | Singapore Dollar | 1.2807 | -0.0007 | 0.0010 | 1.4309 | -0.0037 | -0.0035 | 1.6929 | -0.0017 | 0.0011 | South African Rand | 16.5475 | 0.0100 | -0.1323 | 18.4886 | -0.0268 | -0.2079 | 21.8749 | 0.0033 | -0.1783 | South Korea Won | 1335.1000 | -7.4000 | -8.3000 | 1491.7072 | -11.5559 | -15.2309 | 1764.9355 | -10.5981 | -12.5632 | Swedish Krona | 10.003 | 0.0167 | -0.0142 | 11.1998 | -0.0010 | -0.0230 | 13.7260 | 0.0031 | -0.0037 | Swiss Franc | 0.8343 | 0.0029 | 0.0029 | 0.9322 | 0.0014 | 0.0003 | 1.1029 | 0.0034 | 0.0037 | Taiwan Dollar | 31.9675 | 0.0370 | 0.2090 | 35.7172 | -0.0321 | 0.1192 | 42.2585 | 0.0298 | 0.2699 | Thai Baht | 33.6200 | 0.0850 | -0.0600 | 37.5606 | 0.0178 | -0.1883 | 44.4440 | 0.0922 | -0.0861 | Tunisian Dinar | 3.0124 | 0.0071 | 0.0005 | 3.3657 | 0.0010 | -0.0626 | 4.8823 | 0.0076 | 0.0147 | Turkish Lira | 49.3270 | -0.0153 | 0.1730 | 55.1133 | -0.1305 | 0.0164 | 65.2078 | -0.0497 | 0.2189 | UAE Dirham | 3.6730 | - | 0.0002 | 4.1037 | -0.0086 | -0.0131 | 4.8556 | -0.0023 | -0.0005 | Pound Sterling | 0.7565 | 0.0003 | 0.0001 | 0.8452 | -0.0014 | -0.0026 | 1.0000 | - | - | United States Dollar | 1.0000 | - | - | 1.1173 | -0.0023 | -0.0036 | 1.3219 | -0.0006 | -0.0002 | Vietnamese Dong | 25937.0000 | 56.0000 | -66.0000 | 28979.4100 | 3.9420 | -167.3520 | 34787.4170 | 58.5000 | -32.4500 | Euro | 0.8950 | 0.0018 | 0.0029 | 1.0000 | - | - | 1.1831 | 0.0019 | 0.0036 | £ StrgOct 12 | Day'schg% | EuroIndex | £ StrgOct 9 | £ StrgYear ago | Yield | Div Cover | P/E ratio | XD | Totaladj | Total Return | FTSE 100 (100) | 10656.28 | 0.99 | 9826.96 | 10552.05 | 10441.60 | 9931.38 | 3.08 | 2.22 | 14.64 | 275.62 | 12559.62 | FTSE 100 ex Investment Trusts (95) | 3482.56 | 1.00 | 3211.53 | 3447.91 | 3411.52 | 3251.79 | 3.12 | 2.09 | 15.30 | 91.25 | 34305.61 | FTSE 250 (251) | 24328.06 | 0.47 | 22434.73 | 24213.78 | 23943.88 | 22470.38 | 3.15 | 2.71 | 11.71 | 613.71 | 23042.31 | FTSE 250 ex Inv Co (104) | 25207.29 | 0.57 | 22345.53 | 25065.63 | 24727.54 | 23304.18 | 3.18 | 1.69 | 18.59 | 663.64 | 24466.28 | FTSE 350 (351) | 5683.25 | 0.93 | 5335.15 | 5755.61 | 5694.94 | 5409.23 | 3.09 | 2.27 | 14.26 | 149.82 | 13569.73 | FTSE 350 ex Investment Trusts (359) | 5735.66 | 0.97 | 5289.28 | 5680.50 | 5619.27 | 5350.31 | 3.06 | 2.55 | 15.11 | 150.28 | 8837.19 | FTSE 350 High Yield (134) | 5180.23 | 1.17 | 4722.21 | 5207.28 | 5082.96 | 4626.84 | 3.09 | 1.73 | 12.28 | 171.67 | 40408.66 | FTSE 350 Lower Yield (217) | 5788.21 | 0.66 | 5337.74 | 5750.38 | 5685.25 | 5460.41 | 1.80 | 3.20 | 17.29 | 98.78 | 7724.48 | FTSE SmallCap (175) | 8164.91 | 0.36 | 7529.47 | 8135.25 | 8086.04 | 7537.89 | 4.03 | 1.57 | 15.80 | 233.65 | 18560.07 | FTSE SmallCap ex Inv Co (96) | 6611.80 | 0.48 | 6281.67 | 6779.51 | 6717.43 | 6280.89 | 3.83 | 0.51 | 50.70 | 171.11 | 13663.78 | FTSE SmallCap Financials ex Inv Co (13) | 150.35 | 0.90 | 145.04 | 149.00 | 147.94 | 150.06 | 5.57 | 1.24 | 12.07 | 7.00 | 202.02 | FTA All-Share (526) | 5746.57 | 0.92 | 5299.34 | 5659.30 | 5634.04 | 5350.38 | 3.10 | 2.26 | 14.28 | 146.42 | 13556.08 | FTA All-Share ex Inv Co (355) | 5631.26 | 0.97 | 5193.01 | 5577.28 | 5517.23 | 5252.83 | 3.13 | 2.05 | 15.58 | 147.51 | 6915.15 | FTF Hedging (41) | 12889.76 | 0.06 | 11886.63 | 12882.41 | 12915.12 | 13050.03 | 5.04 | -10.13 | -1.75 | 310.26 | 31313.01 | FTF Hedging ex Inv Co (21) | 17019.92 | -0.72 | 15692.57 | 17140.12 | 17197.44 | 24338.42 | 5.67 | -0.89 | -19.08 | 617.81 | 40401.48 | FTA All-Small (218) | 5662.93 | 0.36 | 5222.22 | 5664.74 | 5587.41 | 5246.47 | 4.07 | 1.21 | 20.27 | 161.59 | 14085.81 | FTA All-Small ex Inv Co (117) | 5111.19 | 0.45 | 4708.46 | 5086.43 | 5049.07 | 5247.47 | 0.44 | 0.53 | 55.37 | 139.17 | 13372.97 | AMF All-M All-Share (528) | 7741.91 | 0.34 | 7143.69 | 7773.53 | 7760.67 | 7669.39 | 1.82 | 2766.28 | -0.02 | 10.80 | 977.73 | FTA All-Share Technology (19) | 2091.47 | 1.29 | 1928.78 | 2064.90 | 1985.46 | 2154.29 | 2.37 | 1.84 | 23.00 | 47.38 | 3281.21 | FTA All-Share Telecommunications (5) | 2066.66 | -0.38 | 1905.82 | 2074.63 | 2157.78 | 1838.12 | 3.40 | 0.80 | 36.66 | 41.30 | 3910.26 | FTA All-Share Health Care (12) | 16076.94 | 0.72 | 14825.75 | 15961.92 | 15801.73 | 17767.22 | 2.46 | 2.43 | 16.78 | 360.33 | 18365.43 | FTA All-Share Financials (231) | 8330.41 | 1.43 | 7682.10 | 8213.27 | 8128.25 | 7738.99 | 3.59 | 2.97 | 9.36 | 268.27 | 10940.91 | FTA All-Share Real Estate (58) | 767.12 | 1.00 | 744.04 | 759.51 | 754.63 | 779.49 | 5.15 | 1.02 | 19.10 | 31.55 | 969.22 | FTA All-Share Consumer Discretionary (88) | 6020.98 | 0.10 | 5557.94 | 6021.19 | 5989.42 | 6097.31 | 2.42 | 2.11 | 19.60 | 122.51 | 7064.59 | FTA All-Share Consumer Staples (28) | 20183.84 | 1.03 | 18613.03 | 19879.22 | 19739.32 | 20151.35 | 4.03 | 1.41 | 17.61 | 573.98 | 21779.57 | FTA All-Share Industrials (80) | 11586.14 | 0.64 | 11087.21 | 11859.95 | 11767.90 | 10902.98 | 1.58 | 2.06 | 30.59 | 158.40 | 14911.69 | FTA All-Share Industrial Materials (23) | 11526.76 | 0.36 | 11499.29 | 11499.29 | 11499.29 | 11499.29 | 3.13 | 1.77 | 19.14 | 139.14 | 11397.24 | FTA All-Share Energy (13) | 12424.12 | 0.89 | 11457.21 | 12314.45 | 12272.17 | 8961.27 | 3.34 | 2.51 | 11.92 | 341.11 | 17808.91 | FTA All-Share Utilities (5) | 10990.73 | 1.13 | 10135.37 | 10867.71 | 10864.11 | 10592.92 | 3.72 | 1.52 | 17.63 | 289.41 | 19745.95 | FTA All-Share Software & Computer Svcs (17) | 2262.76 | 1.32 | 2086.68 | 2233.28 | 2146.39 | 2341.56 | 2.39 | 1.82 | 22.90 | 51.75 | 3756.03 | FTA All-Share Tech Hardware & Equip (2) | 4321.15 | -1.69 | 3984.86 | 4404.25 | 4411.60 | 2276.41 | 2.99 | 0.00 | 39.69 | 0.00 | 3069.64 | FTA All-Share Telecoms Svc Providers (5) | 3219.37 | -0.38 | 2968.62 | 3321.79 | 3361.31 | 2863.35 | 4.00 | 0.66 | 66.66 | 64.34 | 5578.31 | FTA All-Share Healthcare Providers (2) | 10877.66 | 0.47 | 9966.55 | 10756.72 | 10604.43 | 8413.29 | 1.08 | 1.36 | 68.11 | 28.78 | 10298.82 | FTA All-Share Medical Equipment & Svcs (2) | 5251.89 | 2.75 | 4935.38 | 5208.58 | 5095.44 | 6125.00 | 2.72 | 2.12 | 17.37 | 145.18 | 5719.40 | FTA All-Share Pharmaceuticals & Biotech (8) | 23136.55 | 0.63 | 21335.95 | 22891.59 | 22773.40 | 25662.60 | 2.45 | 2.44 | 16.69 | 514.99 | 21210.03 | FTA All-Share Banks (13) | 8732.85 | 2.15 | 8053.22 | 8549.01 | 8473.13 | 7920.31 | 3.79 | 2.61 | 10.09 | 303.71 | 9520.73 | FTA All-Share Credit & Credit Services (1) | 11493.12 | 0.83 | 11493.12 | 11493.12 | 11493.12 | 11493.12 | 3.79 | 2.61 | 10.09 | 303.71 | 9520.73 | FTA All-Share Inv Banking & Brokerage Svcs (3) | 12269.70 | 0.25 | 11314.81 | 12238.96 | 11571.18 | 13207.98 | 4.08 | 2.85 | 8.59 | 408.99 | 20347.93 | FTA All-Share Closed End Investments (171) | 15667.73 | 0.20 | 14448.39 | 15673.07 | 154054.54 | 14072.94 | 2.59 | 6.59 | 5.87 | 3066.68 | 18038.51 | FTA All-Share Life Insurance (5) | 7967.62 | 1.02 | 7292.27 | 7827.55 | 7761.80 | 8294.18 | 5.11 | 1.17 | 16.71 | 401.46 | 11983.74 | FTA All-Share Nonlife Insurance (4) | 6705.11 | 1.33 | 6183.29 | 6616.98 | 6573.78 | 51715.05 | 3.48 | 1.27 | 22.60 | 224.05 | 16447.07 | FTA All-Share Real Estate Inv & Svcs (10) | 1889.50 | 0.67 | 1748.38 | 1883.23 | 1887.29 | 2060.18 | 2.33 | 1.77 | 24.29 | 422.06 | 2058.86 | FTA All-Share Real Estate Investment Ints (28) | 1916.33 | 1.05 | 1767.19 | 1886.41 | 1881.80 | 15825.13 | 5.56 | 0.97 | 18.51 | 84.31 | 3548.22 | FTA All-Share Automobiles & Parts (1) | 1052.24 | 0.83 | 970.35 | 1043.58 | 925.48 | 1437.94 | 0.00 | 0.00 | -0.94 | 0.00 | 1033.22 | FTA All-Share Consumer Services (2) | 3863.68 | -0.14 | 3581.43 | 3889.15 | 3832.86 | 3898.56 | 2.17 | 1.77 | 26.05 | 84.26 | 5331.43 | FTA All-Share Real Estate Goods & Home Const (8) | 6547.88 | 1.00 | 6339.64 | 6649.04 | 6588.84 | 6667.96 | 2.47 | 2.47 | 26.05 | 84.26 | 5331.43 | FTA All-Share Goods (2) | 41956.44 | 0.96 | 36358.19 | 41021.01 | 41088.79 | 47968.76 | 2.59 | 1.62 | 23.85 | 1017.36 | 53826.83 | FTA All-Share Personal Goods (3) | 14658.46 | 1.23 | 13517.66 | 14480.81 | 14222.71 | 15672.83 | 0.26 | 11.75 | 32.96 | 37.50 | 12347.92 | FTA All-Share Media (9) | 12641.35 | -0.94 | 11657.53 | 12761.92 | 12600.09 | 12320.16 | 3.17 | 1.55 | 18.10 | 370.78 | 9972.28 | FTA All-Share Retailers (18) | 2743.46 | 0.27 | 2529.95 | 2736.04 | 2700.95 | 2591.68 | 2.73 | 2.63 | 13.95 | 56.11 | 3968.50 | FTA All-Share Travel & Leisure (24) | 9981.57 | 0.22 | 9204.76 | 9959.37 | 9957.43 | 9692.99 | 1.95 | 1.68 | 30.58 | 150.04 | 10826.75 | FTA All-Share Beverages (5) | 16841.22 | 1.64 | 15530.55 | 16568.82 | 16403.24 | 15618.32 | 3.17 | 2.55 | 20.39 | 189.93 | 14995.23 | FTA All-Share Food Producers (10) | 7763.40 | 1.21 | 7159.22 | 7670.43 | 7666.22 | 7556.92 | 2.79 | 1.96 | 18.27 | 115.21 | 8273.52 | FTA All-Share Tobacco (2) | 45896.67 | 0.01 | 42324.75 | 45880.14 | 45440.65 | 47515.58 | 5.88 | 1.30 | 13.06 | 2030.05 | 57716.34 | FTA All-Share Construction & Materials (16) | 16278.60 | 0.44 | 15011.72 | 16265.50 | 15988.23 | 14300.58 | 2.71 | 2.23 | 16.52 | 356.03 | 22406.39 | FTA All-Share Aerospace & Defense (7) | 22840.10 | 0.88 | 22036.96 | 23733.94 | 234223.33 | 23014.17 | 1.18 | 1.60 | 34.02 | 229.46 | 38465.67 | FTA All-Share Power & Electrical Equip (12) | 17435.93 | 0.34 | 16499.74 | 17499.74 | 17499.74 | 17499.74 | 3.05 | 1.62 | 34.02 | 229.46 | 38465.67 | FTA All-Share General Industrials (8) | 5980.62 | 0.37 | 5515.18 | 5698.41 | 5673.51 | 5275.72 | 2.57 | 1.64 | 27.78 | 84.28 | 3889.59 | FTA All-Share Industrial Engineering (8) | 15733.55 | 0.56 | 14509.08 | 15460.41 | 15085.85 | 15129.60 | 2.25 | 1.60 | 27.74 | 303.42 | 23084.63 | FTA All-Share Industrial Support Socs (26) | 10251.37 | 0.36 | 9453.55 | 10214.96 | 10016.15 | 10512.10 | 2.25 | 1.49 | 29.82 | 200.55 | 12846.24 | FTA All-Share Industrial Transportation (7) | 7005.53 | -0.22 | 6463.32 | 7020.82 | 6883.07 | 5999.34 | 3.90 | 1.79 | 14.33 | 224.75 | 8029.88 | FTA All-Share Precious Metals & Mining (5) | 31808.86 | 0.73 | 29381.29 | 31633.21 | 31077.46 | 32669.13 | 2.81 | 2.77 | 12.89 | 911.89 | 25314.95 | FTA All-Share Chemicals (7) | 9126.97 | 0.05 | 8416.57 | 9122.66 | 8891.55 | 7671.18 | 3.66 | 0.80 | 34.21 | 282.48 | 10513.26 | FTA All-Share Oil & Gas & Coal (1) | 12067.09 | 0.90 | 11127.96 | 11599.66 | 11593.28 | 8705.65 | 3.34 | 2.52 | 11.88 | 305.59 | 17941.74 | FTA All-Share Alternative Energy (1) | 17.28 | -2.69 | 17.56 | -7.79 | -7.23 | 9.94 | 0.00 | -0.80 | -19.93 | -17.28 | FTA All-Share Energy & Power (1) | 1441.54 | -0.03 | 13290.00 | 14100.00 | 14100.00 | 13690.00 | -0.05 | -0.05 | -3.05 | -296.00 | 34045.45 | FTA All-Share Financials ex Inv Co (6) | 203.30 | 1.72 | 196.12 | 198.86 | 197.59 | 190.33 | 3.83 | 2.39 | 10.90 | 7.15 | Tech Hardware & Equip | 114.36 | Alternative Energy | 73.89 | Energy | 38.48 | Oil & Gas & Coal | 38.45 | Industrial Metals & Mining | 30.67 | Nonlife Insurance | 29.56 | Health Care Providers | 26.45 | Basic Materials | 26.65 | Industrial Transportation | 18.27 | Chemicals | 19.24 | Electronic & Electrical Equip. | 16.71 | Construct & Materials | 10.76 | Aerospace & Defense | 13.92 | General Industrials | 13.35 | Telecomms Serv Providers | 12.43 | Telecommunications | 12.43 | Closed End Investments | 11.85 | Banks | 11.68 | Electricity | 10.15 | Company Name

Petra Diamonds Ltd

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主市场

| < rowspan="2">价格< / >< rowspan="2">当日涨跌 + / -< / > | 52周< / >< rowspan="2">成交量(千股)< / > | 最高< / > 最低< / > 收益率< / > 市盈率< / >< / > | 航空航天与国防< / >< / > BAE Systems■< / > 1882.50< / > 22.50< / > 2360.00< / > 1529.00< / > 2.01< / > 27.36< / > 2973.19< / >< / > Chemring Group< / > 516.50< / > 5.50< / > 650.75< / > 446.52< / > 1.57< / > 29.02< / > 1068.63< / >< / > | 汽车与零部件< / >< / > Ford Motors< / > 908.13< / > -12.06< / > 1319.04< / > 841.76< / > 5.00< / > -5.04< / > -< / >< / > | 银行< / >< / > ANZ Group< / > 1996.84< / > 35.97< / > 2126.50< / > 1753.25< / > 5.74< / > 19.47< / > 2423.20< / >< / > Banco Santander< / > 1028.00< / > 8.00< / > 1122.00< / > 709.00< / > 1.68< / > 13.37< / > 615.62< / >< / > Bank of Nova Scotia▲< / > 6679.74< / > 3.89< / > 7165.88< / > 4739.97< / > 3.62< / > -< / >< / > Barclays■< / > 437.60< / > 7.95< / > 554.10< / > 353.55< / > 2.63< / > 9.99< / > 27707.58< / >< / > Canadian Imperial▲< / > 8248.58< / > 4.81< / > 9198.88< / > 5969.15< / > 2.75< / > -< / >< / > HSBC■< / > 1428.40< / > 32.60< / > 1610.00< / > 959.29< / > 3.90< / > 15.61< / > 14785.98< / >< / > Lion Finance Gp< / > 12720.00< / > 340.00< / > 14820.00< / > 7320.00< / > 2.49< / > 8.67< / > 89.76< / >< / > Lloyds Bnkg Gp■< / > 104.00< / > 2.40< / > 117.90< / > 81.82< / > 3.86< / > 14.86< / > 93918.37< / >< / > NatWest Group< / > 653.60< / > 11.00< / > 726.00< / > 504.41< / > 5.35< / > 12.22< / > 8395.06< / >< / > OSB Group< / > 492.80< / > 6.20< / > 647.50< / > 472.00< / > 7.28< / > 6.52< / > 635.61< / >< / > Perm TSB Group< / > 253.56< / > -0.41< / > 291.66< / > 182.42< / > 0.61< / > 6.61< / > 0.01< / >< / > Royal Bank of CA< / > 14510.70< / > 8.49< / > 16187.03< / > 10784.89< / > 2.57< / > -< / >< / > Stand Chart< / > 2159.00< / > 40.00< / > 2364.00< / > 1351.50< / > 2.38< / > 14.61< / > 2746.48< / >< / > ...7.375%Pf< / > 106.75< / > -0.75< / > 128.84< / > 102.00< / > 6.91< / > -< / > 112.31< / >< / > ...8.25%Pf< / > 118.60< / > -0.15< / > 143.80< / > 114.25< / > 6.96< / > -< / > 42.33< / >< / > Toronto-Dominion●< / > 8702.27< / > 5.07< / > 9256.88< / > 5880.62< / > 2.68< / > -< / >< / > Westpack< / > 1824.07< / > 45.68< / > 2275.39< / > 1755.74< / > 4.45< / > 17.24< / > 3442.93< / > | 化学品< / >< / > Elementis< / > 182.00< / > -0.20< / > 195.40< / > 136.00< / > 1.83< / > -30.85< / > 1012.58< / >< / > Johnson Matthey< / > 2458.00< / > -10.00< / > 3245.25< / > 2192.00< / > 4.18< / > -32.23< / > 275.64< / >< / > Victrex< / > 926.00< / > -16.00< / > 1024.00< / > 515.00< / > 3.24< / > 28.94< / > 182.14< / >< / > | 建筑与材料< / > |

[...OMITTED...]

Galliford Try Hldgs | 680.00< / > -4.00< / > 726.81< / > 466.00< / > 3.46< / > 16.31< / > 164.37< / > | Morgan Sindall< / > 4106.00< / > 20.00< / > 5730.00< / > 3938.00< / > 3.97< / > 11.03< / > 34.80< / >< / > | 电子与电气设备< / >< / > discoverGrp< / > 895.00< / > 21.00< / > 900.00< / > 505.00< / > 1.45< / > 29.64< / > 278.85< / >< / > Halma< / > 3540.00< / > 12.00< / > 4902.00< / > 3268.00< / > 0.70< / > 35.91< / > 806.02< / >< / > Morgan Adv Mat< / > 287.00< / > -3.00< / > 294.50< / > 179.80< / > 4.25< / > 38.27< / > 600.44< / >< / > Oxford Instruments< / > 2966.00< / > 8.00< / > 3318.00< / > 1682.00< / > 0.80< / > 35.06< / > 126.01< / >< / > Renishaw< / > 5710.00< / > -25.00< / > 6030.00< / > 3280.00< / > 1.44< / > 34.92< / > 172.90< / >< / > TT Electronics< / > 181.20< / > 0.20< / > 197.80< / > 93.00< / > -< / > -6.36< / > 241.84< / >< / > XP Power< / > 1980.00< / > 30.00< / > 2160.00< / > 849.23< / > -< / > -47.14< / > 44.54< / > | 综合金融< / >< / > 3i Group< / > 2398.00< / > -4.00< / > 4497.00< / > 1825.00< / > 3.52< / > -< / >< / > Aberdeen Group< / > 244.20< / > 1.20< / > 265.00< / > 179.60< / > 5.98< / > 11.31< / > 4350.87< / >< / > Bridgepoint Group< / > 412.00< / > 10.20< / > 415.80< / > 212.00< / > 2.38< / > 82.40< / > 1328.40< / >< / > City of London Inv< / > 520.00< / > -2.00< / > 540.00< / > 349.00< / > 6.54< / > 14.09< / > 57.18< / >< / > Close Bros< / > 385.40< / > -< / > 556.15< / > 318.40< / > -< / > -6.75< / > 230.47< / >< / > ICG< / > 1799.00< / > -9.00< / > 2194.00< / > 1424.87< / > 4.84< / > 10.79< / > 1959.44< / >< / > Investec< / > 594.50< / > 1.50< / > 690.00< / > 499.36< / > 6.48< / > 7.71< / > 670.38< / >< / > Jupiter< / > 173.40< / > -0.20< / > 214.50< / > 137.20< / > 3.46< / > 9.03< / > 741.11< / >< / > Liontrust< / > 298.50< / > -3.00< / > 358.00< / > 223.00< / > 6.37< / > 19.38< / > 121.99< / >< / > London Stock Exe< / > 8760.00< / > 66.00< / > 10140.00< / > 6684.00< / > 1.80< / > 36.74< / > 866.41< / >< / > Rathbones Group< / > 1566.00< / > 26.00< / > 2500.00< / > 1490.00< / > 6.39< / > 14.51< / > 58.77< / >< / > S & U< / > 1905.00< / > 25.00< / > 2458.50< / > 1620.00< / > 6.09< / > 9.76< / > 1.33< / >< / > St James's Place< / > 1042.50< / > 5.00< / > 1575.50< / > 1011.50< / > 1.73< / > 10.44< / > 837.21< / >< / > TP ICAP Group< / > 330.00< / > 1.40< / > 355.00< / > 235.50< / > 5.21< / > 13.10< / > 552.63< / >< / > Vanquis Banking Gp< / > 69.80< / > 0.10< / > 132.00< / > 67.00< / > -< / > 21.81< / > 431.40< / > | < rowspan="2">价格< / >< rowspan="2">当日涨跌 + / -< / > | 52周< / >< rowspan="2">成交量(千股)< / > | 最高< / > 最低< / > 收益率< / > 市盈率< / >< / > | 航空航天与国防< / >< / > Cohort< / > 1276.00< / > 68.00< / > 1538.00< / > 881.10< / > 1.40< / > 24.43< / > 134.58< / >< / > Velocity Composites< / > 15.00< / > -1.25< / > 24.00< / > 12.00< / > —< / > -7.50< / > 76.98< / >< / > | 基础资源（不含采矿）< / >< / > Cropper J< / > 685.00< / > 5.00< / > 710.00< / > 250.00< / > —< / > 22.24< / > 8.41< / >< / > | 建筑与材料< / >< / > Accsys Tech< / > 54.00< / > -1.40< / > 79.84< / > 54.00< / > —< / > 23.93< / > 85.26< / >< / > | 电子与电气设备< / >< / > Checkit< / > 16.25< / > 0.25< / > 27.00< / > 12.35< / > —< / > -6.25< / > 10.38< / >< / > LPA< / > 82.00< / > —< / > 92.00< / > 34.00< / > —< / > -31.06< / > 0.00< / >< / > Thorpe FW< / > 256.00< / > 6.00< / > 320.00< / > 240.00< / > 2.87< / > 10.79< / > 54.70< / >< / > | 综合金融< / >< / > Arbuthnot Banking< / > 795.00< / > -5.00< / > 940.00< / > 755.00< / > 6.92< / > 7.29< / > 7.94< / > |

投资公司

< rowspan="2">< / >< rowspan="2">价格< / >< rowspan="2">当日涨跌 + / -< / > | 52周< / >< rowspan="2">分红-) 溢价< / >< / > 最高< / > 最低< / > 收益率< / > 资产净值(NAV)< / >< / > | 常规投资（不含私募股权）< / >< / > 3i Infra< / > 390.00< / > 2.00< / > 389.50< / > 325.00< / > 3.45< / > 405.63< / > -5.07< / >< / > Afl G ViIT< / > 91.50< / > 0.50< / > 96.77< / > 76.00< / > 6.67< / > 103.96< / > -10.88< / >< / > Afl Sml< / > 1834.00< / > 8.00< / > 1838.00< / > 1408.07< / > 2.61< / > 2023.98< / > -10.55< / >< / > Aberdeen Asia Foc< / > 467.00< / > -3.00< / > 478.00< / > 348.00< / > 1.38< / > 516.87< / > -9.25< / >< / > Aberdeen Asian Inc Fund< / > 320.00< / > -1.00< / > 357.00< / > 246.00< / > 5.87< / > 346.34< / > -7.07< / >< / > Aberdeen Eq Inc< / > 447.00< / > -1.00< / > 473.00< / > 359.25< / > 5.17< / > 451.13< / > -0.74< / >< / > Aberdeen UK Smll< / > 537.00< / > 4.00< / > 544.00< / > 441.50< / > 2.61< / > 570.50< / > -6.82< / >< / > Alliance Witan< / > 1408.00< / > 5.00< / > 1411.00< / > 1178.00< / > 2.08< / > 1479.43< / > -4.81< / >< / > Allianz Tech< / > 761.00< / > -3.00< / > 789.00< / > 480.75< / > —< / > 838.80< / > -6.61< / >< / > Artemis UK Future Lead< / > 392.00< / > 2.50< / > 405.00< / > 321.00< / > 3.94< / > 449.05< / > -12.52< / >< / > Aurora UK< / > |

Alpha | 248.00< / > —< / > 279.00< / > 222.09< / > 1.90< / > 281.07< / > -11.22< / > | AV Japan< / > 179.00< / > -0.50< / > 194.00< / > 154.50< / > 1.23< / > 185.68< / > -3.77< / >< / > BG China Growth< / > 284.00< / > -2.00< / > 331.04< / > 283.00< / > 0.88< / > 319.79< / > -3.72< / >< / > BG Euro< / > 121.50< / > —< / > 133.00< / > 91.40< / > 0.59< / > 132.94< / > -10.23< / >< / > BG Japan< / > 1076.00< / > —< / > 1114.00< / > 811.10< / > 0.93< / > 1198.05< / > -10.95< / >< / > BG Shin< / > 178.80< / > -0.20< / > 182.00< / > 123.05< / > 0.39< / > 199.21< / > -11.55< / >< / > BG US Growth< / > 391.00< / > 1.50< / > 398.00< / > 261.00< / > —< / > 409.17< / > -2.83< / >< / > Baillie

Gifford UK< / > 220.00< / > 2.00< / > 231.00< / > 180.12< / > 2.82< / > 241.29< / > -9.57< / >< / > Bankers IT< / > 155.00< / > -0.20< / > 157.80< / > 125.20< / > 1.82< / > 169.44< / > -8.23< / >< / > Biotech Growth< / > 1406.00< / > 6.00< / > 1786.00< / > 1050.00< / > —< / > 1512.31< / > -8.64< / >< / > BckR Amer Sml< / > 284.00< / > 1.00< / > 289.55< / > 208.85< / > 5.24< / > 280.19< / > 0.75< / >< / > BckR Energy & Res< / > 179.00< / > 1.00< / > 205.00< / > 135.50< / > 3.46< / > 185.17< / > -4.38< / >< / > BckR Front< / > 187.00< / > -2.00< / > 208.00< / > 164.50< / > 4.07< / > 188.20< / > -0.71< / >< / > BckR

GTEur< / > 571.00< / > -2.00< / > 625.00< / > 506.95< / > 1.25< / > 620.01< / > -7.35< / >< / > BckR I&G< / > 234.00< / > —< / > 240.00< / > 208.00< / > 3.29< / > 254.26< / > -5.13< / >< / > BckR Smrl< / > 268.00< / > 2.50< / > 288.40< / > 230.80< / > 2.96< / > 308.62< / > -14.03< / >< / > BckR World Mining< / > 942.00< / > -6.00< / > 1076.00< / > 628.00< / > 2.55< / > 979.19< / > -3.46< / >< / > Brunner< / > 1564.00< / > 4.00< / > 1612.00< / > 1336.00< / > 1.73< / > 1738.03< / > -10.05< / >< / > Caledonia Inv< / > 385.50< / > -0.50< / > 402.00< / > 312.00< / > 1.99< / > 603.92< / > -36.74< / >< / > CanGen

C$< / > 2703.06< / > 1.57< / > 2958.28< / > 2358.19< / > 2.43< / > 88.07< / > -41.89< / >< / > City of Lon< / > 576.00< / > 5.00< / > 599.00< / > 498.00< / > 3.90< / > 560.76< / > 1.57< / >< / > City Natural Res G&I< / > 410.00< / > -3.00< / > 467.00< / > 258.01< / > 6.90< / > 400.23< / > 4.23< / >< / > CT Healthcare< / > 121.20< / > -0.80< / > 152.40< / > 118.80< / > 4.34< / > 128.37< / > -4.96< / >< / > CT MgdI< / > 131.00< / > —< / > 135.00< / > 115.00< / > 6.11< / > 128.73< / > 2.41< / >< / > CT MgdG< / > 328.00< / > —< / > 330.00< / > 280.26< / > —< / > 337.25< / > -2.62< / >< / > CT Cp&I< / > 342.00< / > 3.00< / > 373.00< / > 320.00< / > 3.93< / > 355.53< / > -4.49< / >< / > CT UK

HIT B | 107.00< / > —< / > 120.00< / > 92.00< / > 5.57< / > 114.81< / > -4.81< / > | CT UK HIT Ord< / > 105.50< / > 1.00< / > 126.00< / > 97.00< / > 5.65< / > 114.29< / > -5.88< / >< / > Dunedin Inc< / > 311.00< / > 5.00< / > 323.00< / > 275.00< / > 6.48< / > 335.57< / > -8.07< / >< / > Edinburgh Inv< / > 840.00< / > 7.00< / > 867.00< / > 737.60< / > 3.81< / > 904.20< / > -8.08< / >< / > Edin Worldwide< / > 280.00< / > -0.50< / > 294.50< / > 194.20< / > —< / > 302.78< / > -6.50< / >< / > The Euro SmCo< / > 228.00< / > 0.50< / > 247.21< / > 193.80< / > 5.54< / > 247.34< / > -7.64< / >< / > F&C Inv

Trust< / > 351.40< / > 0.80< / > 1332.00< / > 325.80< / > 1.20< / > 382.22< / > -8.48< / >< / > Fidelity Asian< / > 606.00< / > -4.00< / > 672.00< / > 546.06< / > 3.38< / > 638.94< / > -4.95< / >< / > Fidelity China< / > 242.50< / > -3.00< / > 331.50< / > 239.50< / > 3.71< / > 265.84< / > -6.60< / > |

< rowspan="2">< / >< rowspan="2">价格< / >< rowspan="2">+ / - 日变动< / > | 52周< / >< rowspan="2">成交量(千股)< / >< / > 最高< / > 最低< / > 收益率< / > 市盈率< / >< / > | 食品与饮料< / >< / > AEP Plantations< / > 176.60< / > -19.80< / > 229.00< / > 124.00< / > 20.32< / > 10.09< / > 1522.04< / >< / > Assoc. Brit Foods< / > 1856.00< / > 21.00< / > 2359.00< / > 1729.45< / > 3.39< / > 13.11< / > 536.54< / >< / > Barr (AG)◆< / > 555.00< / > 3.00< / > 715.32< / > 538.00< / > 3.44< / > 13.13< / > 170.59< / >< / > Fevara< / > 148.50< / > 1.50< / > 152.00< / > 114.50< / > 1.62< / > 6.43< / > 20.84< / >< / > Coca-Cola

HBC< / > 4350.00< / > 68.00< / > 5195.00< / > 3350.00< / > 2.33< / > 19.88< / > 418.05< / >< / > Cranswick< / > 5140.00< / > 155.00< / > 5810.00< / > 4775.00< / > 2.19< / > 17.37< / > 154.14< / >< / > Diageo◆< / > 1673.00< / > 35.00< / > 1903.91< / > 1295.50< / > 2.26< / > 28.32< / > 4187.52< / >< / > Greencore< / > 262.20< / > 6.80< / > 307.50< / > 191.10< / > 0.99< / > 19.86< / > 2008.33< / >< / > Kerry Group◆< / > 7522.29< / > 174.14< / > 7646.35< / > 5567.81< / > 1.62< / > 22.24< / > 42.28< / >< / > Tate &

Lyle< / > 561.00< / > 2.00< / > 580.00< / > 319.40< / > 3.53< / > 25.50< / > 1136.65< / >< / > Unilever◆< / > 4738.00< / > 64.50< / > 5542.11< / > 3644.00< / > 3.48< / > 12.95< / > 3410.81< / > |

GN Store Nord< / > 1209.25< / > -12.24< / > 1429.97< / > 984.75< / > —< / > 15.75< / > 285.69< / >< / > Smith&Neph+< / > 1038.00< / > 17.50< / > 1426.59< / > 980.40< / > 2.89< / > 19.03< / > 1888.59< / >< / > | 家居、休闲与个人用品< / >< / > Barratt Redrow•< / > 291.40< / > 1.00< / > 410.29< / > 235.40< / > 2.06< / > 21.43< / > 7155.60< / >< / > Bellway< / > 1985.00< / > 37.00< / > 2890.00< / > 1715.00< / > 3.63< / > 14.95< / > 526.74< / >< / > Berkeley< / > 3210.00< / > 40.00< / > 4442.00< / > 2796.00< / > —< / > 9.68< / > 117.79< / >< / > Burberry Group< / > 1044.00< / > 19.50< / > 1376.50< / > 953.40< / > —< / > 2770.82< / >< / > Cairn

Homes• | 223.00< / > 2.00< / > 251.00< / > 161.00< / > 3.94< / > 12.39< / > 550.72< / > | Games Workshop< / > 16560.00< / > 170.00< / > 23540.00< / > 14300.00< / > 3.38< / > 26.54< / > 143.06< / >< / > Gleeson (MJ)< / > 270.00< / > -2.00< / > 435.00< / > 221.00< / > 1.85< / > -81.33< / > 58.40< / >< / > McBride< / > 177.00< / > 0.80< / > 214.10< / > 107.60< / > 1.75< / > 10.00< / > 83.15< / >< / > Philips< / > 1874.66< / > 30.85< / > 2413.42< / > 1790.38< / > 3.83< / > -44.36< / > 1546.01< / >< / > PZ Cussons< / > 96.40< / > -0.10< / > 114.00< / > 65.09< / > 3.84< / > 20.51< / > 267.73< / >< / > Vistry

d>18.59< / > 25.99< / >< / > Weir•< / > 2680.00< / > 38.00< / > 3580.00< / > 2254.00< / > 1.57< / > 28.00< / > 520.08< / >< / > | 工业综合 (Industrial General)< / >< / > Coats Group< / > 84.10< / > -1.00< / > 98.10< / > 73.15< / > 3.00< / > 18.81< / > 1310.24< / >< / > Macfarlane< / > 84.80< / > -0.10< / > 93.80< / > 59.80< / > 4.32< / > 21.25< / > 216.99< / >< / > Smiths< / > 2769.00< / > 39.00< / > 2885.00< / > 2088.00< / > 1.75< / > 4.40< / > 1707.22< / >< / > | 工业运输 (Industrial Transportation)< / > |

Braemar< / > 245.00< / > 8.00< / > 249.00< / > 203.11< / > 2.86< / > 33.84< / > 300.97< / >< / > Fisher (J)< / > 437.00< / > 11.00< / > 554.00< / > 358.00< / > -< / > -50.23< / > 23.70< / >< / > | 保险 (Insurance)< / >< / > Admiral Group< / > 3670.00< / > 46.00< / > 4128.00< / > 2624.00< / > 3.90< / > 14.89< / > 301.20< / >< / > Aviva+< / > 687.40< / > 10.40< / > 740.60< / > 590.60< / > 5.85< / > 25.55< / > 7066.98< / >< / > Chesnara+< / > 329.00< / > 7.00< / > 378.00< / > 265.00< / > 6.98< / > -65.15< / > 466.27< / >< / > Ecclesiastical Insurance< / > 130.25< / > -< / > 155.00< / > 125.50< / > 6.62< / > -< / > 104.80< / >< / > Hansard

Global+< / > 55.50< / > 1.50< / > 60.80< / > 43.20< / > 8.02< / > 11.81< / > 68.13< / >< / > Hiscox< / > 1865.00< / > 18.00< / > 1952.00< / > 1288.00< / > 2.10< / > 13.64< / > 2279.97< / >< / > Lancashire Hldgs< / > 667.00< / > 20.50< / > 689.00< / > 549.00< / > 2.52< / > 7.29< / > 619.22< / >< / > Legal & General< / > 290.80< / > 3.80< / > 318.10< / > 217.20< / > 7.53< / > 29.11< / > 13969.57< / >< / > Old Mutual+< / > 61.00< / > 0.80< / > 78.80< / > 55.40< / > 7.12< / > 6.77< / > 680.55< / >< / > Prudential+< / > 901.00< / > 2.60< / > 1238.00< / > 867.40< / > 2.33< / > 7.72< / > 7294.48< / >< / > Standard

Life+< / > 858.00< / > 9.50< / > 960.00< / > 633.50< / > 6.54< / > -182.17< / > 13035.15< / > |

< rowspan="2">< / > | 52周 (52 Week)< / >< / > 价格 + / - (Price + / -)< / > 当日变动 (Dly Dng)< / > 最高 (High)< / > 最低 (Low)< / > 收益率 (Yld)< / > 市盈率 (P / E)< / > 成交量千股 (Vol 000s)< / >< / > BP Marsh< / > 661.00< / > 6.00< / > 710.00< / > 613.00< / > 5.49< / > 4.98< / > 19.79< / >< / > Burlford Capital< / > 271.00< / > 5.00< / > 880.50< / > 249.20< / > 3.48< / > 12.35< / > 196.66< / >< / > Premier Miton Group< / > 34.75< / > -< / > 62.00< / > 34.50< / > 8.63< / > 44.55< / > 282.36< / >< / > | 食品与饮料 (Food & Beverages)< / >< / > Camellia< / > 5725.00< / > 125.00< / > 6300.00< / > 4800.00< / > 4.54< / > -30.66< / > 0.18< / >< / > Fevertree

Drinks● | 884.00< / > 25.50< / > 973.00< / > 711.00< / > 1.97< / > 47.07< / > 253.67< / > | Nichols< / > 1115.00< / > 30.00< / > 1200.00< / > 880.00< / > 3.49< / > 19.00< / > 40.96< / >< / > | 家居、休闲与个人用品< / >< / > Churchill▲< / > 360.00< / > 5.00< / > 460.00< / > 271.00< / > 5.83< / > 9.07< / > 19.95< / >< / > Frontier Dev< / > 633.00< / > 28.00< / > 640.00< / > 302.00< / > -< / > 8.49< / > 223.98< / >< / > Portmeirion< / > 47.50< / > -< / > 113.75< / > 46.60< / > -< / > -1.05< / > 4.65< / >< / > Sanderson Design Grp< / > 76.00< / > -1.00< / > 80.00< / > 40.00< / > 1.97< / > 25.50< / > 265.31< / >< / > | 工业工程< / > |

1545.00 5.00 1800.00 1120.00 1.68 22.92 6.46

< rowspan="2">< / >< rowspan="2">价格< / >< ="2">+ / - 日变动< / > | 52周< / >< ="2">收益率< / >< ="2">资产净值 (NAV)< / >< ="2">折 / 溢价 (Dist(-)Prem)< / >< / > 最高< / > 最低< / >< / > Fidelity Emer Mkts< / > 1518.00< / > -4.00< / > 1574.00< / > 897.34< / > 1.64< / > 1641.23< / > -9.42< / >< / > Fidelity Euro< / > 413.50< / > 0.50< / > 447.50< / > 367.50< / > 2.47< / > 434.94< / > -5.36< / >< / > Fidelity Spec.< / > 467.00< / > 3.50< / > 479.50< / > 384.77< / > 2.21< / > 465.07< / > -0.05< / >< / > Finsbury G&I< / > 803.00< / > 11.00< / > 875.00< / > 706.25< / > 2.62< / > 857.33< / > -7.27< / >< / > The Gibl Small

Co< / > 190.80< / > 0.40< / > 198.60< / > 162.72< / > 1.65< / > 200.24< / > -4.88< / >< / > GRI T(susp.)< / > 1.25< / > —< / > 1.25< / > —< / > 14.40< / > -91.32< / >< / > Hansa< / > 332.00< / > —< / > 346.00< / > 250.00< / > 1.33< / > 556.26< / > -40.90< / >< / > Hansa A< / > 332.50< / > -1.50< / > 340.00< / > 244.00< / > 1.32< / > 556.26< / > -40.01< / >< / > Hen FarEs< / > 267.50< / > -1.00< / > 281.50< / > 229.00< / > 9.36< / > 255.15< / > 5.50< / >< / > Hen High Inc< / > 202.50< / > 2.50< / > 214.00< / > 173.25< / > 5.49< / > 210.18< / > -4.90< / >< / > Hen

Smir< / > 964.00< / > 6.00< / > 998.00< / > 769.00< / > 3.01< / > 1061.10< / > -9.52< / >< / > Herald< / > 2900.00< / > -30.00< / > 3290.73< / > 2285.00< / > —< / > 3442.79< / > -13.65< / >< / > HICL Infra< / > 131.00< / > 0.40< / > 141.00< / > 107.20< / > 6.49< / > 160.47< / > -18.35< / >< / > Impax Env< / > 455.00< / > 4.00< / > 494.76< / > 379.00< / > 1.14< / > 509.37< / > -9.56< / >< / > IntiBiotech< / > 1065.00< / > 15.00< / > 1235.00< / > 798.00< / > 2.94< / > 1080.96< / > -2.89< / >< / > Intl PP< / > 135.80< / > 0.40< / > 145.80< / > 115.60< / > 6.47< / > 153.78< / > -12.19< / >< / > Inv Asia Dragon

Tst | 495.00< / > 2.00< / > 520.00< / > 385.00< / > 3.88< / > 537.68< / > -7.60< / > | Inv Bond Inc< / > 167.50< / > —< / > 178.50< / > 150.11< / > 7.31< / > 165.42< / > 1.41< / >< / > JPM Amer IT< / > 1258.00< / > 8.00< / > 1260.00< / > 1041.00< / > 0.91< / > 1300.73< / > -3.42< / >< / > JPM Asia G&I< / > 582.00< / > 2.00< / > 652.00< / > 426.00< / > 5.67< / > 587.29< / > -0.66< / >< / > JPM China G&I< / > 252.00< / > 2.00< / > 308.70< / > 246.50< / > 4.52< / > 276.89< / > -6.05< / >< / > JPM Clavr< / > 938.00< / > 10.00< / > 986.00< / > 799.98< / > 3.89< / > 959.57< / > -2.88< / >< / > JPM Emrg

EMEA< / > 237.00< / > 2.50< / > 310.00< / > 196.00< / > 0.25< / > 68.21< / > 233.24< / >< / > JPM Emrg< / > 168.60< / > -0.40< / > 181.20< / > 126.20< / > 4.47< / > 184.18< / > -8.24< / >< / > JPM Eur Disc< / > 608.00< / > 2.00< / > 666.00< / > 548.00< / > 2.63< / > 658.46< / > -8.24< / >< / > JPM Eur G&I< / > 134.60< / > -0.40< / > 153.00< / > 124.50< / > 4.04< / > 141.20< / > -3.81< / >< / > JPM Em Mk Div< / > 213.00< / > -1.00< / > 223.00< / > 155.50< / > 2.82< / > 234.01< / > -8.01< / >< / > JPM Gbl G&I< / > 617.50< / > 5.00< / > 641.00< / > 529.60< / > 4.02< / > 635.38< / > -2.83< / >< / > JPM India Gwth

Inc< / > 846.00< / > 10.00< / > 1098.00< / > 799.00< / > 5.01< / > 915.01< / > -10.27< / >< / > JPM Japan< / > 829.00< / > -4.00< / > 867.00< / > 668.00< / > 1.05< / > 912.13< / > -9.15< / >< / > JPM UK Sm< / > 351.00< / > 1.00< / > 369.00< / > 287.92< / > 4.25< / > 379.15< / > -6.84< / >< / > JPM US Smi< / > 419.00< / > 3.00< / > 463.00< / > 365.00< / > 0.76< / > 459.98< / > -10.22< / >< / > Law Deb< / > 1210.00< / > 4.00< / > 1290.00< / > 991.00< / > 3.02< / > 1198.66< / > 0.59< / >< / > Lindsell Train< / > 574.00< / > -6.00< / > 750.00< / > 529.50< / > 4.88< / > 6.52< / > -11.94< / >< / > Lowland< / > 185.75< / > 1.25< / > 191.50< / > 148.00< / > 3.70< / > 200.86< / > -8.59< / >< / > Marwyn

Val< / > 141.00< / > —< / > 141.90< / > 141.02< / > 6.43< / > 264.28< / > -46.64< / >< / > Mercantile< / > 274.50< / > 2.00< / > 290.50< / > 234.31< / > 3.02< / > 302.58< / > -10.27< / >< / > Merch. Trst< / > 660.00< / > 4.00< / > 691.00< / > 536.25< / > 4.53< / > 687.53< / > -4.35< / >< / > Mid Wynd< / > 810.00< / > 5.00< / > 814.00< / > 682.00< / > 1.06< / > 825.35< / > -2.61< / >< / > Monks IT< / > 1688.00< / > 6.00< / > 1696.00< / > 1366.00< / > 0.05< / > 1774.32< / > -4.65< / >< / > Montanaro Eur< / > 176.50< / > —< / > 189.00< / > 142.00< / > 0.88< / > 194.14< / > -9.17< / >< / > Murray Inc< / > 972.00< / > 6.00< / > 1036.00< / > 854.66< / > 4.22< / > 1032.50< / > -6.70< / >< / > Murray

Intl< / > 357.00< / > 0.50< / > 376.00< / > 296.50< / > 3.59< / > 355.90< / > -0.30< / >< / > New Star IT< / > 138.00< / > —< / > 148.00< / > 111.00< / > 2.57< / > 202.74< / > -31.93< / >< / > N. Atl Smir IT< / > 416.00< / > -2.00< / > 434.00< / > 328.00< / > 1.68< / > 649.99< / > -35.69< / >< / > Pac. Horiz.< / > 1104.00< / > -20.00< / > 1262.00< / > 719.00< / > —< / > 1224.25< / > -7.91< / > |

69.21 | Reach< / > 47.00< / > -0.50< / > 73.70< / > 39.00< / > 12.55< / > -1.12< / > 599.26< / >< / > Relx■< / > 2760.00< / > 40.00< / > 3539.00< / > 1991.00< / > 2.50< / > 24.51< / > 2355.07< / >< / > Rightmove●< / > 492.00< / > 1.50< / > 700.00< / > 391.40< / > 2.19< / > 17.51< / > 2817.28< / >< / > STV Group< / > 103.00< / > 3.00< / > 124.50< / > 93.91< / > --< / > -9.54< / > 188.11< / >< / > | 采矿业< / > |

d> 4.69< / > 11.79< / > 2074.98< / >< / > 力拓 (Rio Tinto)■< / > 7144.00< / > 18.00< / > 9117.00< / > 4970.50< / > 4.88< / > 15.39< / > 1139.80< / > |

BP■< / > 588.00< / > 1.70< / > 609.40< / > 399.35< / > 4.27< / > -< / > 28146.39< / >< / > Capricorn< / > 427.00< / > -1.00< / > 450.00< / > 181.80< / > -< / > 20.16< / > 635.70< / >< / > 埃克森美孚控股 (ExxonMobil Hldgs)< / > 13010.30< / > -< / > 13048.90< / > 12939.20< / > 2.40< / > -< / >< / > GeoPark< / > 901.70< / > -< / > 901.70< / > 876.36< / > 0.77< / > 14.54< / > -< / >< / > Helleniq Energy< / > 1561.09< / > -< / > 1561.09< / > 1489.24< / > 3.25< / > 6.35< / > 424.38< / >< / > 帝国石油 (Imperial Oil) C$< / > 9315.49< / > 5.43< / > 10397.16< / > 6229.98< / > 1.98< / > -< / >< / > TC Energy Corp♦< / > 4541.67< / > -< / > 4567.11< / > 4513.05< / > 4.10< / > -24.02< / > -< / > |

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阿斯利康 (AstraZeneca)■< / > 12026.00< / > 28.00< / > 15732.00< / > 9892.00< / > 1.99< / > 24.09< / > 1751.28< / >< / > Chemical Works< / > 2885.52< / > -< / > 2885.52< / > 5.26< / > 14.92< / > 0.10< / >< / > 葛兰素史克 (GlaxoSmKline)■< / > 1771.00< / > 21.00< / > 2282.00< / > 1592.00< / > 3.95< / > 12.55< / > 3352.42< / >< / > Hikma Pharm< / > 1629.00< / > 17.00< / > 1865.00< / > 1187.00< / > 3.99< / > 11.83< / > 359.62< / > | 房地产投资信托基金 (REITS)< / >< / > British Land< / > 394.40< / > 5.80< / > 451.60< / > 335.40< / > 5.86< / > -< / >< / > Derwent London< / > 1784.00< / > 21.00< / > 2196.00< / > 1469.33< / > 4.60< / > -< / >< / > Great Portland Est< / > 305.40< / > 2.20< / > 377.00< / > 270.00< / > 2.69< / > -< / > 0.00< / >< / > Land Securities< / > 611.50< / > 7.50< / > 726.00< / > 525.00< / > 6.74< / > -< / >< / > LondonMetric Prop< / > 174.00< / > 1.80< / > 216.20< / > 170.20< / > 7.21< / > -< / >< / > Primary Health Prop< / > 90.25< / > 0.85< / > 109.60< / > 87.55< / > 8.09< / > -< / >< / > Segro< / > 932.40< / > 13.20< / > 997.40< / > 632.20< / > 3.38< / > -< / >< / > Shaftesbury Capital< / > 137.80< / > 2.50< / > 155.10< / > 124.10< / > 3.12< / > 7.37< / > 1901.21< / >< / > Tritax Big Box< / > 141.00< / > 1.30< / > 175.00< / > 138.50< / > 5.85< / > -< / > |

《金融时报》股票服务板块可帮助您在印刷版和在线平台触达并吸引来自全球、具有财务意识的决策者和富裕股东。

房地产投资与服务 | < / > 164.10< / > 2.10< / > 202.79< / > 149.44< / > 5.12< / > -< / >< / > Grainger< / > 187.00< / > -< / > 195.00< / > 116.80< / > 0.98< / > 64.48< / > 3973.53< / >< / > Harworth Group◆< / > 176.00< / > -1.00< / > 236.25< / > 170.50< / > 1.49< / > 36.44< / > 267.24< / >< / > Helical< / > 8725.00< / > 25.00< / > 10200.00< / > 8350.00< / > 6.02< / > 16.71< / > 0.10< / >< / > Mountview Estates< / > 997.00< / > 24.00< / > 1142.00< / > 791.46< / > 2.36< / > 19.17< / > 241.01< / >< / > Savills< / > 88.45< / > 0.05< / > 113.00< / > 85.85< / > 6.12< / > 6.90< / > 1381.70< / >< / > Sirius Real Estate< / > 115.00< / > -< / > 140.00< / > 106.00< / > 2.83< / > 8.80< / > 0.02< / > |

< rowspan="2">< / > | 52周< / >< / > 价格< / > + / - 日变动< / > 最高< / > 最低< / > 收益率< / > 市盈率< / > 成交量 (千股)< / >< / > | 媒体< / >< / > Mission Group< / > 25.00< / > -< / > 29.00< / > 12.00< / > -< / > -1.17< / > 8.13< / >< / > | 采矿< / >< / > Central Asia Metals●< / > 154.00< / > 0.20< / > 244.00< / > 125.27< / > 10.06< / > -4.78< / > 475.87< / >< / > Crism Therapeutics< / > 9.00< / > -< / > 18.50< / > 8.00< / > -< / > -1.76< / > 21.03< / >< / > | 石油与天然气< / >< / > BorSthrPet< / > 9.68< / > 1.56< / > 14.00< / > 7.26< / > -< / > -79.98< / > 5736.93< / >< / > | 制药与生物技术< / >< / > Sareum Holdings#< / > 27.50< / > -< / > 40.00< / > 9.50< / > -< / > -11.46< / > -< / >< / > | 零售商< / >< / > Boohoo Group< / > 24.25< / > -0.25< / > 29.50< / > 10.30< / > -< / > -3.13< / > 651.13< / >< / > CVS Group< / > 1183.00< / > 10.00< / > 1648.00< / > 1062.00< / > 0.76< / > 48.48< / > 183.01< / > |

CT PrivEq< / > 467.00< / > -1.00< / > 592.00< / > 439.84< / > 6.06< / > 689.28< / > -34.12< / >< / > HGCapital< / > 379.50< / > 13.50< / > 512.00< / > 318.64< / > 1.32< / > 530.18< / > -31.06< / >< / > HVPE< / > 3270.00< / > 25.00< / > 3500.00< / > 2807.59< / > —< / > 4518.00< / > -29.06< / >< / > ICG Ent< / > 1386.00< / > -4.00< / > 1611.42< / > 1288.31< / > 3.03< / > 2089.67< / > -33.96< / >< / > Pantheon Int< / > 387.00< / > 3.00< / > 409.00< / > 339.05< / > —< / > 534.60< / > -29.01< / >< / > Partners PE €< / > 573.05< / > -7.69< / > 945.52< / > 569.45< / > 10.32< / > 11.53< / > -39.72< / >< / > | 常规 - 房地产投资公司< / > |

< rowspan="2">< / >< rowspan="2">价格< / >< rowspan="2">+ / - 日变动< / > | 52周< / >< rowspan="2">折价 (-) 溢价< / >< / > 最高< / > 最低< / > 收益率< / > 资产净值 (NAV)< / >< / > Pers. Assets< / > 548.00< / > 3.00< / > 558.00< / > 515.00< / > 1.02< / > 551.25< / > -1.26< / >< / > Polar Health< / > 433.50< / > 4.50< / > 460.50< / > 352.11< / > 0.51< / > 426.91< / > -0.10< / >< / > Polar Fin.< / > 235.00< / > -2.00< / > 260.50< / > 199.16< / > —< / > 247.58< / > -3.75< / >< / > Polar Tech.< / > 693.00< / > -9.00< / > 743.50< / > 420.00< / > —< / > 772.60< / > -8.33< / >< / > Rights & Iss IT< / > 2500.00< / > -10.00< / > 2520.00< / > 1965.13< / > 1.81< / > 3045.75< / > -17.47< / >< / > RIT

Cap. | 2470.00< / > -20.00< / > 2645.00< / > 1985.25< / > 1.82< / > 3198.50< / > -23.40< / > | Ruffer Inv Pr< / > 290.00< / > -0.50< / > 319.00< / > 281.26< / > 2.13< / > 302.09< / > -3.32< / >< / > Schdr AsiaPac< / > 837.00< / > -1.00< / > 892.00< / > 641.35< / > 1.55< / > 926.05< / > -9.83< / >< / > Schdr AsiaTotal< / > 706.00< / > -1.00< / > 746.00< / > 530.00< / > 1.63< / > 742.16< / > -5.40< / >< / > Schroder Inc< / > 359.00< / > 6.00< / > 380.00< / > 314.00< / > 4.26< / > 378.80< / > -5.37< / >< / > Schdr Japan< / > 386.00< / > -2.00< / > 402.53< / > 276.00< / > 3.46< / > 424.23< / > -9.04< / >< / > Schdr

Orient.< / > 452.50< / > -0.50< / > 478.00< / > 317.00< / > 2.92< / > 475.05< / > -4.97< / >< / > Schdr UK Mid< / > 756.00< / > 2.00< / > 790.00< / > 652.00< / > 2.99< / > 805.01< / > -5.54< / >< / > Scot American< / > 560.00< / > 5.00< / > 572.00< / > 480.10< / > 2.92< / > 682.62< / > -7.84< / >< / > Scot Mortgage< / > 1641.50< / > 5.00< / > 1652.50< / > 1015.74< / > 0.28< / > 1810.88< / > -8.06< / >< / > Scot Oriental< / > 283.00< / > 2.00< / > 295.00< / > 240.00< / > 1.20< / > 305.85< / > -9.72< / >< / > Strategic Eq.< / > 395.00< / > -6.50< / > 415.00< / > 330.00< / > 1.14< / > 442.37< / > -10.38< / >< / > Temple

Bar< / > 416.50< / > 3.50< / > 429.50< / > 345.25< / > 3.75< / > 413.01< / > -0.32< / >< / > Tetragon< / > 1111.99< / > 4.28< / > 1476.82< / > 892.96< / > 3.20< / > —< / > < / >< / > TRIG< / > 76.80< / > 0.70< / > 80.50< / > 63.20< / > 9.83< / > 101.42< / > -25.63< / >< / > UIL< / > 211.00< / > —< / > 211.00< / > 3.79< / > 288.10< / > -26.59< / >< / > Utrico EmerMkts< / > 300.00< / > 4.00< / > 305.00< / > 243.00< / > 3.23< / > 328.96< / > -9.61< / >< / > Worldwide Hlth< / > 369.50< / > 1.50< / > 401.50< / > 322.52< / > 0.65< / > 395.90< / > -7.90< / > |

AEW UK REIT< / > 99.00< / > 0.50< / > 113.20< / > 95.90< / > 8.08< / > 106.98< / > -9.02< / >< / > Prop< / > 268.50< / > -1.00< / > 364.50< / > 265.00< / > 6.00< / > 297.85< / > -10.66< / >< / > | VCTs（风险资本信托）< / >< / > Bmd 2nd VT< / > 44.40< / > —< / > 54.00< / > 39.50< / > 9.01< / > 46.55< / > -2.47< / >< / > Nthn 2 VCT< / > 53.00< / > —< / > 56.50< / > 47.00< / > 5.66< / > 55.40< / > -4.33< / >< / > Nthn 3 VCT< / > 82.00< / > —< / > 86.50< / > 79.50< / > 5.49< / > 86.00< / > -4.65< / >< / > Nthn Venture< / > 56.00< / > —< / > 59.50< / > 53.00< / > 5.54< / > 58.60< / > -4.44< / >< / > | 零股息优先股< / > |

Aberforth GV< / > 118.00< / > —< / > 121.36< / > 111.00< / > —< / > 116.70< / > 1.17< / >< / > | 投资公司 - AIM（替代投资市场）< / >< / > Crys Amber< / > 74.50< / > —< / > 155.39< / > 71.10< / > —< / > 172.64< / > -56.56< / > | < rowspan="2">价格< / >< ="2">当日涨跌+ / -< / > | 52周< / >< ="2">收益率< / >< ="2">市盈率< / >< ="2">成交量 (千股)< / > | 最高< / > 最低< / >< / > | 零售商< / >< / > Caffyns< / > 500.00< / > -< / > 550.00< / > 350.00< / > 2.00< / > -12.29< / > 0.61< / >< / > Dunelm Group< / > 803.50< / > 4.00< / > 1174.00< / > 707.00< / > 8.77< / > 10.44< / > 489.83< / >< / > Halfords Group< / > 259.50< / > -2.50< / > 276.10< / > 123.80< / > 3.47< / > 17.07< / > 382.43< / >< / > Inchcape< / > 680.00< / > -6.50< / > 885.00< / > 627.87< / > 4.94< / > 9.38< / > 959.37< / >< / > JD Sports< / > 85.70< / > 1.20< / > 101.95< / > 63.98< / > 1.48< / > 9.93< / > 12545.71< / >< / > Kingfisher+< / > 319.10< / > 1.10< / > 372.30< / > 266.40< / > 3.89< / > 22.79< / > 6549.70< / >< / > Marks & Spencer< / > 401.80< / > 4.80< / > 418.33< / > 301.10< / > 1.05< / > 31.64< / > 7228.88< / >< / > Saga< / > 780.00< / > 15.00< / > 799.00< / > 234.50< / > -< / > 264.68< / >< / > Sainsbury J< / > 338.30< / > 2.70< / > 380.30< / > 293.70< / > 4.05< / > 19.55< / > 4581.46< / >< / > Tesco< / > 511.00< / > 7.20< / > 516.20< / > 411.70< / > 2.89< / > 18.58< / > 20163.24< / > |

d>-15.38< / > 6616.39< / >< / > Howden Joinery< / > 767.50< / > 5.00< / > 981.00< / > 713.00< / > 2.87< / > 15.80< / > 821.35< / >< / > Intertek< / > 5895.00< / > 5.00< / > 5980.00< / > 3519.42< / > 2.80< / > 27.03< / > 321.33< / >< / > Johnson Service♦< / > 138.40< / > 0.50< / > 172.10< / > 123.80< / > 3.61< / > 14.88< / > 715.92< / >< / > MITE Group< / > 210.60< / > 0.20< / > 214.00< / > 135.20< / > 2.14< / > 31.91< / > 2745.70< / >< / > RS Group< / > 793.00< / > 1.00< / > 798.00< / > 536.90< / > 2.89< / > 22.92< / > 1109.75< / >< / > Vp< / > 524.00< / > 12.00< / > 608.00< / > 420.00< / > 7.54< / > -37.97< / > 12.38< / > |

Computacenter+< / > 5800.00< / > 50.00< / > 6045.00< / > 2578.00< / > 1.39< / > 38.23< / > 371.68< / >< / > NCC Group< / > 153.60< / > 2.00< / > 161.60< / > 107.20< / > 3.03< / > 27.43< / > 788.69< / >< / > The Sage Group< / > 1084.50< / > 13.00< / > 1181.00< / > 771.60< / > 2.07< / > 28.74< / > 5999.73< / >< / > Trad Group< / > 380.00< / > < / > 430.00< / > 236.00< / > 2.37< / > 38.31< / > 1.50< / >< / > | 电信< / >< / > Airtel Africa< / > 289.60< / > -0.60< / > 436.20< / > 219.00< / > 1.85< / > 20.58< / > 2349.77< / >< / > BT Group< / > 194.70< / > 1.95< / > 242.09< / > 173.00< / > 4.27< / > 17.70< / > 8200.14< / >< / > Telecom Plus< / > 855.00< / > 3.00< / > 1896.00< / > 638.00< / > 5.85< / > 8.45< / > 123.90< / >< / > Vodafone< / > 116.70< / > -1.65< / > 132.07< / > 83.40< / > 3.40< / > -83.68< / > 84065.04< / >< / > | Tabasca< / > |

英美烟草 (Brit Amer Tobacco)■+ | 4194.00< / > -< / > 5326.00< / > 3677.00< / > 5.84< / > 11.95< / > 2399.05< / > | 帝国品牌 (Imperial Brands)< / > 2664.00< / > 2.00< / > 3632.04< / > 2408.00< / > 6.26< / > 10.61< / > 2243.82< / >< / > | 旅游与休闲< / >< / > 易捷航空 (easyJet)< / > 677.40< / > -2.60< / > 684.15< / > 332.60< / > 1.95< / > 10.29< / > 6995.33< / >< / > 第一集团 (FirstGroup)< / > 191.00< / > 0.20< / > 222.60< / > 152.10< / > 3.77< / > 8.93< / > 858.71< / >< / > 富勒斯 'A' (Fullers 'A')< / > 726.00< / > 10.00< / > 780.00< / > 572.00< / > 2.92< / > 18.51< / > 11.77< / >< / > 洲际酒店 (IntContl Hotels)< / > 12016.30< / > -9.71< / > 13305.06< / > 8762.00< / > 1.17< / > 32.36< / > 277.15< / >< / > 国际航空 (Intl Cons Air)< / > 419.00< / > 3.10< / > 492.90< / > 332.70< / > 1.60< / > 6.95< / > 7636.74< / >< / > 惠特布雷德 (Whitbread)< / > 2510.00< / > 32.00< / > 3278.00< / > 2098.00< / > 3.86< / > 20.36< / > 562.71< / > |

德拉克斯集团 (Drax Group)*< / > 792.50< / > 7.00< / > 937.50< / > 695.50< / > 3.82< / > 38.28< / > 367.47< / >< / > 国家电网 (National Grid)■< / > 1164.50< / > 17.50< / > 1428.50< / > 1086.25< / > 4.16< / > 17.78< / > 5564.05< / >< / > 彭农 (Pennon)< / > 323.00< / > 0.05< / > 548.21< / > 307.57< / > 9.07< / > 18.40< / > 3377.28< / >< / > 塞文特伦特 (Severn Trent)< / > 3126.00< / > 32.00< / > 3335.00< / > 2381.00< / > 4.03< / > 25.31< / > 316.47< / >< / > SSE< / > 2477.00< / > 23.00< / > 2767.50< / > 1794.50< / > 2.77< / > 23.48< / > 1465.64< / > |

< rowspan="2">< / > | 52 Week< / >< / > 价格< / > + / - 日变动< / > 最高< / > 最低< / > 收益率< / > 市盈率< / > 成交量 (千股)< / >< / > | 支持服务< / >< / > 佳士得 (Christie)●< / > 180.00< / > -< / > 199.60< / > 90.00< / > 2.22< / > 35.43< / > 1.09< / >< / > 伦敦证券交易所 (LonSec)< / > 3750.00< / > -< / > 3900.00< / > 2100.00< / > 2.59< / > 19.33< / > -< / >< / > NWF< / > 159.00< / > 1.00< / > 187.50< / > 110.00< / > 5.47< / > 8.55< / > 121.98< / >< / > Petards< / > 8.50< / > -< / > 12.50< / > 7.00< / > -< / > -12.69< / > 0.74< / >< / > Renew< / > 955.00< / > 8.00< / > 1016.00< / > 821.00< / > 2.13< / > 15.49< / > 77.66< / >< / > | 科技 - 软件与服务< / > |

牛津指标 (Oxford Metrics)< / > 34.80< / > 2.10< / > 60.40< / > 27.50< / > 9.34< / > -63.27< / > 1085.55< / >< / > | 旅游与休闲< / >< / > Gaming Realms< / > 30.00< / > -0.60< / > 47.20< / > 29.00< / > –< / > 14.78< / > 185.51< / >< / > Jet2♦< / > 1404.00< / > -3.00< / > 1612.00< / > 980.00< / > 1.20< / > 6.65< / > 283.42< / > |

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📄 Original Section

UK RECENT RIGHTS ISSUES

FTSE GLOBAL INDICES | 6 | Industrials | 8 | Beverages | 8 | Financials | 5 | Financials ex Inv Co | 7 | Media | 6 | Retailers | 6 | Utilities | 5 | Industrial Engineering | 7 | Biotechnology | 7 | Travel & Leisure | 7 | Food Producers | 5 | Gas Water & Multi-utilities | 2 | Consumer Staples | 5 | Real Estate Investment Trusts | 3 | Consumer Services | 3 | Personal Care Drug & Grocery | 5 | Consumer Discretionary | 6 | Real Estate | 5 | Industrial Support Services | Event

Rights Issue: 10 for 17 at 16.5p p.s., payable in full by Nov. 21 (xr 07.11.25).

FTSE 100 SUMMARY | Oct 09Regions & countries | No of stocks | US$ Indices | Daily %Chg | Month %Chg | YTD %Chg | US$ TotalRet | YTD %TotalRet | Gr Div Yield | FTSE Global Industries | Global | 10218 | 1261.24 | 0.64 | -0.23 | 12.61 | 2182.21 | 14.21 | 1.60 | Global Large Cap | 1743 | 1190.99 | 0.59 | 0.34 | 13.17 | 2120.35 | 14.71 | 1.47 | Global Mid Cap | 2461 | 1416.36 | 0.84 | -1.35 | 12.02 | 2243.29 | 12.83 | 1.62 | Global Small Cap | 6014 | 1407.02 | 0.69 | -2.68 | 9.59 | 2188.00 | 11.23 | 1.83 | Global ex Eurozone | 9613 | 1343.76 | 0.65 | 0.24 | 13.50 | 2265.63 | 15.01 | 1.51 | Global ex China | 7602 | 4264.63 | 0.62 | -0.13 | 13.52 | 7069.11 | 15.11 | 1.58 | Global ex US | 8673 | 863.19 | 0.67 | -3.78 | 10.44 | 1601.75 | 12.93 | 2.48 | Global ex UK | 3996 | 1339.35 | 0.63 | -0.12 | 12.89 | 2267.69 | 14.44 | 1.55 | Global ex Japan | 8668 | 1317.39 | 0.67 | -0.12 | 12.26 | 2286.69 | 13.80 | 1.57 | FTSE Regional Industries | Americas | 1988 | 1770.53 | 0.66 | 1.76 | 13.77 | 2758.86 | 14.87 | 1.18 | Asia Pacific | 5430 | 920.93 | 0.43 | -2.85 | 18.26 | 1660.91 | 20.51 | 2.04 | Asia Pacific ex Japan | 5080 | 1153.49 | 0.56 | -3.30 | 18.10 | 2302.03 | 20.24 | 2.05 | Europe | 1434 | 666.92 | 0.50 | -5.30 | 1.94 | 1600.91 | 4.67 | 2.91 | Europe ex UK | 7212 | 768.67 | 0.81 | -5.88 | 1.23 | 1600.91 | 3.95 | 2.84 | Eurozone | 605 | 692.59 | 0.57 | -6.30 | 1.61 | 1477.08 | 4.24 | 2.83 | Assean | 402 | 725.71 | 0.44 | -6.58 | 2.83 | 1618.23 | 6.81 | 4.70 | FTSE Developed Industries | Developed | 5370 | 1309.81 | 0.63 | -0.04 | 12.96 | 2239.42 | 14.48 | 1.51 | Developed ex North America | 3608 | 751.40 | 0.55 | -4.53 | 11.10 | 1519.10 | 13.76 | 2.56 | Sector | No of stocks | US$ Indices | Daily %Chg | Month %Chg | YTD %Chg | US$ TotalRet | YTD %TotalRet | Gr Div Yield | Digital Information Services | Software & Computer Services | 527 | 3784.82 | 1.96 | 7.60 | 5.42 | 4608.59 | 5.93 | Media | 153 | 788.67 | -0.21 | -1.38 | -13.37 | 1135.02 | -12.70 | Technology | Semiconductors | 300 | 945.51 | -0.52 | 2.33 | 51.58 | 1035.68 | 52.25 | Tech Hardware & Equip | 768 | 7252.83 | 0.51 | -2.51 | -1.53 | 1053.51 | 51.33 | Technology | 1293 | 5152.72 | 0.42 | 5.08 | 29.48 | 6821.68 | 30.10 | Biotechnology | 216 | 122.70 | 2.54 | -0.86 | 15.65 | 125.32 | 16.02 | Telecommunications Equip | 112 | 584.70 | 1.35 | 1.74 | 74.89 | 676.70 | 76.33 | Electronic & Electrical Equip | 257 | 543.47 | 1.08 | -3.59 | 31.95 | 314.39 | 34.39 | Telecomms Svc Providers | 145 | 416.47 | -4.45 | -9.98 | -5.02 | 935.00 | -1.80 | Electronic & Electrical Equip | 360 | 2113.69 | 0.76 | 0.01 | 23.84 | 3051.74 | 24.99 | Financials | Finance & Credit Services | 111 | 841.59 | 0.81 | -6.75 | -15.07 | 1320.58 | -13.95 | Financials | 1160 | 689.24 | 0.52 | -5.98 | 4.30 | 1442.22 | 7.02 | Life Insurance | 71 | 637.42 | 0.42 | -4.32 | 7.19 | 1337.63 | 10.68 | Banks | 497 | 505.85 | 0.35 | -7.05 | 8.44 | 1182.42 | 11.68 | Housing Real Estate Inv Tsts | 7 | 80.77 | -0.00 | -22.95 | -2.25 | 1449.94 | -14.99 | Nonlife Insurance | 125 | 1034.87 | 0.05 | -3.60 | 0.15 | 18727.50 | 3.30 | Inv Banking & Brokerage Svcs | 349 | 1200.80 | 1.12 | -4.93 | 0.73 | 1934.37 | 2.21 | Transaction Processing Services | 55 | 147.26 | 1.68 | 1.47 | -1.27 | 154.66 | -0.53 | Real Estate | Real Estate | 642 | 885.13 | 1.22 | -5.02 | -3.01 | 1086.93 | -0.07 | Real Estate Investment & Svcs | 319 | 323.82 | 0.60 | -6.23 | -14.64 | 667.61 | -12.60 | Real Estate Investment Trusts | 323 | 527.69 | 1.42 | -4.63 | 1.33 | 1456.20 | 4.62 | Consumer Goods & Services | Consumer Digital Services | 94 | 339.48 | 0.95 | 6.25 | 4.55 | 344.38 | 4.83 | Consumer Discretionary | 1486 | 1179.24 | 1.18 | -0.38 | -5.86 | 1714.55 | -4.91 | Consumer Services | 70 | 1361.98 | 1.30 | 1.20 | -6.22 | 1859.24 | -5.55 | Retail Staples | 612 | 974.23 | 0.49 | -2.76 | 2.48 | 2674.53 | 5.38 | Retailers | 263 | 1941.76 | 1.66 | 2.01 | 2.48 | 2674.53 | 3.14 | Pers Care Drug & Grocery | 198 | 555.72 | 0.34 | -0.15 | -0.18 | 932.82 | 1.94 | Personal Goods | 138 | 733.40 | 1.15 | -4.90 | -20.47 | 1141.66 | -19.06 | Travel & Leisure | 153 | 637.92 | -0.27 | -1.22 | -1.54 | 1449.94 | -1.47 | Travel & Leisure | 290 | 1100.86 | 0.26 | -3.50 | -8.98 | 1626.92 | -7.80 | 3.48 | Precious Metals & Mining | -2.94 | 7.88 | Finance & Credit Services | -2.99 | 7.67 | Tobacco | -3.41 | 6.83 | Technology | -3.69 | 5.47 | Software & Computer Svcs. | -3.99 | 5.29 | Life Insurance | -4.66 | 4.53 | Consumer Digital Services | -6.07 | 3.76 | Personal Goods | -6.47 | 3.06 | Real Estate Investment & Svcs. | -7.14 | 2.65 | Investment Banking & Brokerage | -7.18 | 0.12 | Pharmaceuticals & Biotech. | -9.48 | -0.17 | Health Care | -9.51 | -0.52 | Medical Equipment & Svcs. | -12.62 | -1.11 | Leisure Goods | -13.19 | -1.13 | Hhold Goods & Home Const | -25.86 | Oct 09Regions & countries | No ofstocks | US$ Indices | Daily %Chg | Month %Chg | YTD %Chg | YTD %Total Ret | YTD %Total Ret | Div Yield | Developed ex Canada | 5153 | 1316.52 | 0.60 | 0.10 | 13.13 | 2245.15 | 14.64 | 2.49 | Developed ex Europe | 4158 | 1547.16 | 0.58 | 0.88 | 15.08 | 2455.60 | 16.34 | 1.27 | Developed ex Eurozone | 4765 | 1410.46 | 0.63 | 0.51 | 14.01 | 2339.62 | 15.42 | 1.40 | Developed ex US | 3825 | 781.45 | 0.62 | -4.45 | 10.77 | 1568.38 | 13.34 | 2.50 | Developed ex UK | 5148 | 1400.71 | 0.61 | 0.09 | 13.29 | 2333.71 | 14.76 | 1.45 | Developed ex Japan | 4203 | 1379.45 | 0.66 | 0.09 | 12.59 | 2375.79 | 14.04 | 1.47 | Developed Asia Pacific | 2303 | 850.31 | 0.18 | -3.70 | 24.93 | 1534.96 | 27.46 | 2.13 | Developed Asia Pac ex Japan | 953 | 1108.60 | 0.24 | -5.90 | 33.74 | 2444.11 | 36.39 | 2.27 | Developed Europe | 1217 | 455.77 | 0.87 | -5.15 | 1.88 | 1476.60 | 4.60 | 3.24 | Developed Europe ex UK | 990 | 800.39 | 0.81 | -5.62 | 1.11 | 1661.88 | 3.84 | 2.84 | Developed Eurozone | 605 | 688.01 | 0.57 | -6.30 | 1.40 | 1467.18 | 4.03 | 2.83 | Developed Europe Asia Pac | 3515 | 753.26 | 0.56 | -4.50 | 11.09 | 1523.80 | 13.77 | 2.56 | FTSE Emerging Indices | Emerging | 4848 | 1088.38 | 0.80 | -1.91 | 9.57 | 2119.36 | 11.83 | 2.43 | Emerging Asia Pacific | 4127 | 1221.61 | 0.76 | -1.69 | 10.36 | 2237.36 | 12.27 | 1.92 | Emerging Europe | 222 | 319.32 | 1.20 | -15.34 | 3.29 | 726.97 | 5.96 | 3.03 | Emerging Plus Korea | 5290 | 4236.43 | 0.56 | -2.73 | 18.68 | 797.12 | 20.84 | 2.13 | Emerging Spain and Poland | 2705 | 1047.16 | 0.33 | -2.48 | 11.15 | 3736.68 | 15.26 | 2.48 | Advanced Emerging | 1199 | 1587.61 | 0.40 | 1.36 | 45.71 | 3460.97 | 48.85 | 2.43 | Secondary Emerging | 3649 | 958.93 | -1.52 | -10.06 | 36.29 | 1701.37 | -11.53 | 2.44 | UK COMPANY RESULTS | Oct 09 | No of | US$ | Daily %Chg | Month %Chg | YTD %Chg | US$ TotalRet | YTD %Total Ret | Gr Div Yield | Sector | stocks | Indices | Household Goods & Home Com'l | 119 | 500.20 | -0.35 | -4.30 | -6.84 | 862.50 | -5.17 | 2.29 | Tobacco | 13 | 1421.17 | 0.78 | 5.99 | 15.18 | 4542.03 | 19.18 | 4.40 | Health Care | Health Care | 843 | 1171.93 | 1.53 | 0.83 | 5.64 | 1856.13 | 7.18 | 1.60 | Health Care Providers | 114 | 1806.86 | 2.27 | 0.11 | 10.90 | 2363.79 | 12.29 | 1.55 | Pharmaceuticals & Biotech | 537 | 1033.09 | 1.53 | 0.31 | 10.37 | 7785.73 | 12.24 | 1.81 | Medical Equipment & Svcs | 198 | 1666.05 | 1.16 | 2.82 | -8.25 | 2044.75 | -7.48 | 1.00 | Agricultural Food & Beverages | Food Producers | 300 | 613.54 | 0.07 | -5.05 | -2.57 | 1103.74 | 0.21 | 3.30 | Beverages | 103 | 841.49 | 0.14 | -1.70 | 6.26 | 1515.26 | 8.57 | 2.98 | Energy | Energy | 376 | 717.72 | 0.19 | -1.10 | 34.15 | 1559.79 | 37.47 | 2.93 | Electricity | 253 | 648.57 | 0.86 | -2.88 | 0.03 | 1529.85 | 2.75 | 2.95 | Alternative Electricity | 91 | 97.20 | 0.73 | -2.70 | 5.16 | 121.42 | 7.45 | 3.56 | Chemicals & Petrochemical | 69 | 368.39 | 1.33 | -6.91 | -1.03 | 498.69 | 1.41 | 1.41 | Oil & Gas & Coal | 307 | 747.62 | 0.14 | -0.80 | 36.41 | 1892.07 | 39.98 | 3.05 | Gas Water & Multi-Utilities | 119 | 684.03 | 0.39 | -4.01 | 0.64 | 733.39 | -3.49 | 3.68 | Utilities | 413 | 674.20 | 0.64 | -3.22 | 0.03 | 1615.02 | 2.35 | 3.04 | Transportation | Automobiles & Parts | 300 | 1051.76 | 1.21 | -1.68 | -13.50 | 1734.00 | -12.30 | 1.54 | Industrial Transportation | 384 | 1359.91 | 0.64 | -4.18 | 8.54 | 2380.11 | 10.70 | 2.38 | Industrials | Aerospace & Defense | 105 | 2705.20 | 0.87 | -5.74 | -6.61 | 4137.31 | -9.88 | 1.21 | Construction Engineering | 347 | 2301.35 | 0.23 | -3.49 | -17.89 | 3656.65 | 19.21 | 1.40 | Industrial Materials | 92 | 272.54 | 0.41 | -4.97 | -2.03 | 541.50 | -0.12 | 2.95 | Industrial Metals & Mining | 388 | 1083.93 | 1.47 | -8.74 | -17.08 | 2128.51 | 19.36 | 2.37 | Industrial Support Services | 232 | 1285.93 | 1.54 | 1.02 | 0.06 | 1860.23 | 1.26 | 1.31 | Industrials | 2101 | 1255.56 | 0.82 | -2.36 | 6.43 | 2442.43 | 7.77 | 1.48 | General Industrials | 202 | 939.21 | 0.70 | -1.08 | 14.63 | 1688.99 | 16.49 | 1.62 | Resources & Materials | Basic Materials | 1035 | 1028.08 | 1.24 | -7.08 | 12.14 | 1917.27 | 14.23 | 2.17 | Chemicals | 457 | 1072.14 | 0.99 | -1.50 | 15.92 | 1303.38 | 18.14 | 2.11 | Electronic & Materials | 115 | 1350.50 | 0.53 | -4.70 | -4.46 | 2246.46 | -11.11 | 1.74 | Waste & Disposal Services | 41 | 402.86 | -0.32 | -3.09 | -2.12 | 445.37 | -1.05 | 1.32 | Precious Metals & Mining | 98 | 1445.51 | 2.67 | -11.69 | 1.73 | 2574.53 | 3.34 | 1.81 | Company | Turnover(£) | Ashoka India Equity Inv Trust* | Fin - (-) | Fidelity Emerging Markets $* | Fin - (-) | JPMorgan Global Growth & Income* | Fin - (-) | Maven Renovar VCT* | Int - (-) | Netcall* | Fin 57.7m (48.0m) | Next 15 Group* | Int 299.4m (316.1m) | Scancell* | Int - (4.7m) | Schroder Japan Trust* | Fin - (-) | Tesco* | Int 37.4bn (36.0bn) | Volution Grp* | Fin 484.8m (419.1m) | Close (p) | %Chg | Close (p) | %Chg | 3i Group | 2398.00 | -0.17 | InterCont'l Hotels | 13016.30 | Aberdeen Group | 244.20 | 0.49 | Intl Cons Airlines | 419.00 | Admiral | 3670.00 | 1.27 | Intermark Group | 5985.00 | Airnl Africa | 289.60 | -0.21 | Investor | 554.50 | Alliance Witan | 1408.00 | 0.36 | Ithaca Energy | 287.20 | Anglo American | 4184.00 | 0.34 | JD Sports Fashion | 85.70 | Antofagasta | 3800.00 | 0.80 | Kingfisher | 319.10 | Assoc. Brit. Foods | 1856.00 | 1.14 | Land Securities | 611.50 | AstraZeneca | 12302.06 | 0.23 | Legal & General | 290.80 | Autostrader Group | 495.30 | 1.35 | Lion Finance | 12720.00 | Aviva | 687.40 | 1.54 | Lloyds Big Gp | 104.00 | Babcock Intl | 910.20 | -0.33 | LondonMetrie Prop | 174.00 | BAE Systems | 1882.50 | 1.21 | Lion Stock Ex | 8760.00 | Balfour Beatty | 881.00 | 0.57 | MBG | 307.40 | Berclays | 437.60 | 1.85 | Malls & Sopen | 401.80 | Barrett Redrow | 291.40 | 0.34 | Melrose Ind | 449.80 | BP | 588.00 | 0.29 | Metris Energy | 4129.65 | Brit. Amer. Tobacco | 4194.00 | -- | Net Grid | 1164.50 | British Land | 394.40 | 1.49 | NatWest Group | 653.60 | BT Group | 194.70 | 1.01 | Next | 14720.00 | Bund | 2730.00 | -0.29 | Pearson | 1304.00 | Burberry | 1044.00 | 1.90 | Pershing Square Hldgs | 3780.00 | Centrica | 148.05 | 0.48 | Polar CapTech | 693.00 | Coca-Cola Europac | 7920.00 | 0.57 | Prudential | 901.00 | Coca-Cola HBC AG | 4350.00 | 1.59 | Reckitt Benckiser | 5216.00 | Compass | 2355.61 | -0.15 | RELX | 2760.00 | Computacenter | 5600.00 | 0.90 | Rentokil Initial | 305.90 | Convatec | 238.60 | 4.80 | Rio Tinto | 7144.00 | Croda International | 3417.00 | 0.80 | Rolls-Royce | 1285.60 | DCC Energy | 6435.00 | 0.16 | Sainsbury UJ | 338.30 | Diageo | 1673.00 | 2.14 | Scot Mort Inv Tot | 1641.50 | Diploma | 7670.00 | 1.09 | Segro | 932.40 | easyJet | 677.40 | -0.38 | Severn Trent | 3126.00 | Endeavour Mining | 4169.00 | 1.04 | Shell | 3036.00 | Experian | 2698.00 | 0.60 | Smith & Nephew | 1038.00 | F&C Inv Trust | 351.40 | 0.23 | Smiths Gp | 2769.00 | Fresnillo | 2756.00 | -- | Spirax Group | 7275.00 | Games Works | 16560.00 | 1.04 | SSE | 2477.00 | Glencore | 586.30 | 0.29 | Standard Chartered | 2159.00 | GSK | 1771.00 | 1.20 | Standard Life | 858.00 | Haleon | 354.80 | 1.60 | St. James's Place | 1042.50 | Halma | 3540.00 | 1.34 | Tata | 511.00 | Hiscox | 1865.00 | 0.97 | The Sage Gp | 1084.50 | Howden Joinery | 767.50 | 0.66 | Tritax Big Box | 141.00 | HSBC | 1428.40 | 2.34 | Unilever | 4738.00 | ICG | 1799.00 | -0.50 | Utd. Utilities | 1435.00 | IG Group | 976.50 | -1.86 | Vodafone | 116.70 | IMI | 3110.00 | 0.58 | Weir | 2680.00 | Imperial Brands | 2664.00 | 0.08 | Whitbread | 2510.00 | Informa | 674.00 | -2.41 | WPP | 378.60 | UK RECENT STOCK ADDITIONS | Close (p) | %Chg | Close (p) | %Chg | 1947 Oil & Gas | 9.55 | -0.52 | iForex Financial | 140.00 | -3.45 | Aimia | 141.00 | - | Mendell Helium | 3.80 | -2.56 | ATC Music Grp | 187.50 | - | Meridian Mining | 129.50 | 4.86 | Braware Solutions | 164.50 | - | Petrox Comms | 21.50 | -15.69 | Chaleit Holdings | 69.00 | - | Rift Helium | 6.50 | 1.56 | Coastal Africa Group | 225.00 | 12.50 | Serval Resources | 30.50 | - | Comish Metals | 104.00 | -0.48 | Sintana Energy | 21.00 | - | Dauch Corp | 416.00 | -2.35 | Sunbelt Rentals | 5770.00 | 2.27 | EDX Medical Group | 7.50 | -6.25 | Tapir Holdings | 50.00 | 3.09 | Halo Minerals | 8.25 | - | The Smarter Web Co | 61.67 | -2.11 | United Kingdom (USD)

FT GLOBAL 500: THE WORLD'S LARGEST COMPANIES | Stock | 52 Week | Price | +/Chg | High | Low | Yld | P/E | MV (lb) | Australia (AUD) | ANZ Group Holdings | 37.18 | -0.18 | 41.00 | 33.36 | 5.85 | 19.10 | 112.13 | BHP Group | 60.94 | -0.25 | 68.77 | 40.17 | 3.97 | 31.48 | 309.83 | Commonwealth Bank | 149.29 | 1.17 | 185.59 | 146.98 | 3.38 | 22.88 | 249.83 | CSL Ltd | 183.84 | 2.38 | 222.47 | 90.00 | 2.20 | 28.59 | 88.22 | Macquarie Group | 248.37 | 1.58 | 267.90 | 187.31 | 3.24 | 25.37 | 95.28 | National Australia Bank | 37.68 | -0.12 | 48.45 | 35.48 | 4.51 | 17.05 | 117.47 | Wesfarmers | 77.35 | 1.31 | 94.70 | 70.80 | 2.87 | 30.52 | 87.81 | Wispac Banking | 33.72 | 0.01 | 43.32 | 33.46 | 4.57 | 16.78 | 115.33 | Belgium (EUR) | Aténesses Brasil Indev | 66.00 | 0.22 | 76.18 | 30.10 | 1.17 | 23.51 | 123.46 | Brazil (BRL) | Itau Unibanco Holding | 54.22 | 0.72 | 55.43 | 32.50 | 0.00 | 0.00 | 304.59 | Itau Unibanco Holding Prfd | 50.47 | 1.12 | 50.85 | 36.96 | 0.00 | 0.00 | 273.00 | Petroleo Brasileiro | 63.06 | 1.13 | 62.48 | 30.96 | 0.00 | 55.89 | 469.31 | Petroleo Brasileiro Prfd | 56.00 | 0.52 | 56.75 | 29.31 | 0.00 | 0.00 | 305.00 | Vale | 67.90 | 0.26 | 91.62 | 58.87 | 0.00 | 76.51 | 288.97 | Stock | Price | 52 Week | +/-Chg | High | Low | Yld | P/E | Finland (EUR) | Nordex Bank Abp | 16.73 | 0.04 | 18.11 | 13.81 | 0.00 | 12.04 | France (EUR) | Air Liquide | 169.68 | 1.74 | 189.80 | 154.86 | 1.98 | 32.52 | Airbus | 187.80 | 0.54 | 221.30 | 157.42 | 1.70 | 35.04 | AAA | 41.52 | 0.10 | 45.66 | 36.55 | 5.59 | 11.57 | BNP Paribas A | 89.95 | 0.75 | 113.82 | 65.12 | 8.45 | 9.40 | Compagnie de Saint-Gobain | 64.94 | 0.18 | 91.56 | 63.52 | 3.54 | 9.69 | Credit Agricole | 16.32 | 0.10 | 20.40 | 15.37 | 0.00 | 7.49 | Doverne | 58.70 | -0.58 | 60.14 | 57.26 | 3.83 | 22.66 | Dassault Synthons | 21.75 | 0.16 | 30.36 | 15.82 | 1.24 | 24.17 | ENSE | 22.75 | 0.04 | 29.88 | 18.53 | 4.53 | 14.97 | EnelIndustrials | 146.35 | 3.35 | 323.80 | 138.30 | 2.73 | 28.14 | Hermes International | 1263.00 | 20.50 | 2300.00 | 1255.00 | 1.40 | 29.21 | Llreal | 381.20 | 7.15 | 405.80 | 338.85 | 1.89 | 29.99 | LMV Intl Me Honduras | 380.00 | -0.90 | 654.70 | 376.00 | 3.42 | 17.38 | Safran | 319.20 | 5.40 | 366.50 | 262.60 | 1.06 | 41.61 | Sorfixi | 71.52 | 0.59 | 91.15 | 69.75 | 5.76 | 9.13 | Schneider Electric | 266.40 | 5.30 | 312.30 | 220.40 | 1.58 | 31.01 | TotalEnergies | 78.53 | 0.95 | 81.34 | 49.24 | 4.46 | 11.40 | Vinci | 107.05 | 0.10 | 143.15 | 104.25 | 4.72 | 12.38 | Agnico Eagle Miner | 269.83 | 8.36 | 348.94 | 188.48 | 0.95 | 23.02 | 137.47 | Alimentation-Cuze-Net | 77.65 | -0.22 | 95.15 | 68.30 | 1.11 | 26.68 | 71.28 | Bank of Montreal | 232.10 | 3.68 | 259.20 | 168.92 | 2.95 | 26.41 | 161.27 | Bank of Nova Scotia | 126.03 | 1.60 | 134.50 | 88.35 | 3.62 | 25.93 | 155.20 | Brookfield | 52.95 | 0.68 | 95.76 | 50.85 | 0.75 | 94.55 | 118.20 | Brookfield Asset Mgmt | 65.52 | 1.31 | 82.98 | 58.09 | 4.38 | 37.44 | 104.65 | Canadian Imperial Bank | 155.63 | 1.95 | 172.87 | 111.45 | 2.75 | 20.78 | 141.31 | Canadian National Railway | 168.06 | 1.83 | 185.25 | 126.05 | 2.18 | 29.59 | 101.53 | Canadian Natural | 70.80 | 0.96 | 72.35 | 41.67 | 3.53 | 17.27 | 145.95 | Canadian Pacific Airways | 120.58 | 0.58 | 133.38 | 96.50 | 0.82 | 38.28 | 106.00 | Consolidation Software | 3003.78 | 91.76 | 4081.71 | 2196.00 | 0.11 | 1011.37 | 63.65 | Enbridge | 66.51 | 0.17 | 80.65 | 62.42 | 5.83 | 34.82 | 150.83 | FleetBoston Financial | 63.68 | 0.63 | 80.68 | 52.60 | 0.68 | 24.48 | 100.00 | Royal Dutch | 273.78 | 2.91 | 306.38 | 200.82 | 2.57 | 24.87 | 380.49 | Shopify Inc. | 243.83 | 9.64 | 253.10 | 129.01 | 0.00 | 163.64 | 294.69 | Suncor Energy | 103.04 | 2.15 | 101.45 | 53.02 | 2.33 | 26.90 | 120.52 | TC Energy | 85.69 | 0.33 | 100.18 | 69.41 | 4.10 | 34.28 | 85.69 | The Toronto-Dominion Bank | 164.19 | 1.96 | 175.33 | 109.50 | 2.68 | 19.88 | 277.40 | Waste Connections | 218.17 | -1.85 | 251.45 | 203.46 | 0.92 | 52.57 | 54.99 | Germany (EUR) | adidas AG | 149.85 | 3.35 | 196.40 | 129.95 | 1.87 | 20.09 | Allianz | 417.00 | 3.60 | 454.60 | 338.80 | 4.10 | 14.58 | BASF | 51.68 | -0.09 | 55.05 | 41.48 | 4.35 | 28.40 | BMW | 53.26 | 1.08 | 97.92 | 51.98 | 8.26 | 4.48 | Deutsche Bank | 29.92 | 0.26 | 35.84 | 23.82 | 3.34 | 9.47 | Deutsche Bors | 296.00 | 3.40 | 296.80 | 200.10 | 1.42 | 44.92 | Deutsche Telekom AG | 24.70 | -2.13 | 54.36 | 23.53 | 4.05 | 12.54 | DHL Group | 56.00 | 1.05 | 58.00 | 39.37 | 3.39 | 19.12 | Deutschland Technologien | 58.86 | -0.04 | 88.83 | 31.27 | 0.59 | 76.44 | Mercedes-Benz Group | 39.59 | 0.56 | 62.34 | 38.89 | 8.84 | 3.89 | Merck | 137.85 | 2.15 | 148.80 | 100.70 | 1.60 | 21.57 | Muenchenen Ranch | 523.80 | 4.80 | 575.60 | 437.40 | 4.58 | 25.01 | Porsche | 41.54 | 0.58 | 50.66 | 35.62 | 2.43 | 10.52 | Rheinmetall | 939.10 | 4.20 | 1966.00 | 900.20 | 1.22 | 56.88 | SAP | 191.46 | 6.84 | 244.30 | 127.50 | 1.31 | 31.18 | Siemens | 272.10 | 7.85 | 291.70 | 198.00 | 1.97 | 25.84 | Siemens Energy | 145.36 | 2.86 | 191.66 | 94.40 | 0.48 | 230.73 | Siemens Healthsysteme | 39.14 | 0.88 | 49.71 | 32.81 | 2.55 | 20.49 | Volkswagen | 68.45 | 1.55 | 110.20 | 66.85 | 7.60 | 5.15 | Volkswagen Privat | 68.00 | 1.40 | 109.15 | 66.60 | 7.74 | 5.12 | Kuwait Finance HouseMexico (MXN) | 0.77 | 0.85 | 0.77 | 3.13 | 23.00 | 15.14 | America Movil B | 19.67 | -0.53 | 24.49 | 17.48 | 2.75 | 0.00 | 1223.18 | Wal-Mart de Mexico | 47.26 | 0.01 | 63.97 | 44.80 | 2.45 | 0.00 | 624.51 | Netherlands (EUR) | Adyen | 886.10 | 24.50 | 1600.80 | 772.40 | 0.00 | 48.66 | 28.08 | ASML Holding | 1601.60 | 29.00 | 1741.00 | 813.80 | 0.49 | 80.44 | 621.66 | Heineken | 71.12 | 0.34 | 80.44 | 63.90 | 2.70 | 15.26 | 40.21 | ING Groep | 29.63 | 0.20 | 32.40 | 20.23 | 3.83 | 14.96 | 85.14 | Praxus N | 36.00 | 1.15 | 63.94 | 34.48 | 0.78 | 6.81 | 78.71 | The Magnum Ice Cream Co | 15.36 | -0.09 | 17.68 | 11.02 | 0.00 | 32.00 | 9.40 | Universal Music Group NV | 14.90 | 0.22 | 23.99 | 13.92 | 3.49 | 34.65 | 27.39 | Norway (NOK) | Agricultural Bank China A | 6.98 | -0.04 | 8.68 | 5.79 | 3.72 | 8.95 | 22.28 | Bank of China A | 6.77 | -0.04 | 6.87 | 5.13 | 3.46 | 9.15 | 16.15 | Bank of Communications A | 7.78 | -0.05 | 7.87 | 6.37 | 4.22 | 7.20 | 450.51 | China Construction Bank A | 10.98 | -0.17 | 11.23 | 8.50 | 3.68 | 8.45 | 232.59 | China Life Insurance A | 36.15 | 0.21 | 51.92 | 32.32 | 2.70 | 6.63 | 752.77 | China Merchants Bank A | 41.42 | -0.29 | 43.79 | 35.28 | 4.87 | 7.27 | 854.45 | China Petroleum Chemical A | 5.39 | -0.09 | 8.11 | 4.43 | 4.03 | 20.57 | 523.04 | China Shenhua Energy A | 48.40 | 0.91 | 51.18 | 38.27 | 4.15 | 18.20 | 886.30 | China Yangtze Power A | 28.99 | 0.09 | 29.57 | 25.38 | 3.45 | 20.56 | 709.33 | OTIC Securities A | 25.91 | 0.51 | 30.63 | 23.77 | 3.23 | 13.22 | 316.11 | Cont Amurex Tech A | 297.75 | 11.00 | 468.75 | 285.17 | 1.21 | 18.45 | 1312.76 | East Money Information A | 17.95 | 0.67 | 27.08 | 17.22 | 0.56 | 23.46 | 294.01 | Fascsim Int'l Ind A | 56.07 | 0.38 | 84.95 | 47.35 | 1.75 | 31.50 | 1112.66 | IDBC A | 8.22 | -0.09 | 8.40 | 6.85 | 3.89 | 8.22 | 2.22 | Industrial Bank A | 18.05 | -0.19 | 21.90 | 16.44 | 5.91 | 5.22 | 381.99 | Jiangsu Hengsu Pharma A | 46.40 | 0.15 | 46.40 | 36.40 | 1.15 | 46.40 | 1000.00 | Lia Finance Group A | 1263.00 | 7.21 | 1568.00 | 1151.01 | 4.12 | 19.24 | 1576.85 | Luxshare Precision In D | 47.59 | -0.84 | 81.78 | 44.57 | 0.52 | 20.78 | 349.62 | Middle Group A | 82.46 | 0.72 | 89.50 | 71.02 | 5.21 | 14.22 | 574.14 | PetroChina A | 11.60 | 0.01 | 13.69 | 8.04 | 4.40 | 13.49 | 1.88 | Ping An Insurance Group A | 52.83 | 0.16 | 74.88 | 46.90 | 5.17 | 6.88 | 563.17 | Postal Savings Bank China A | 5.41 | -0.08 | 6.13 | 4.76 | 4.22 | 7.41 | 5.42 | Shenzhen Mind Bio-Med A | 161.40 | 3.80 | 246.98 | 130.66 | 2.63 | 24.04 | 195.58 | Wuling Yong A | 70.56 | 0.42 | 122.96 | 68.68 | 7.31 | 30.59 | 273.89 | Zijin Mining Group A | 30.80 | 1.43 | 44.94 | 24.42 | 2.60 | 15.79 | 634.54 | Equinor | 417.90 | 7.20 | 426.00 | 226.40 | 3.53 | 215.41 | 999.09 | Republic of Korea (KRW) | LG Energy Solution | 401000.00 | 527000.00 | 295500.00 | 0.00 | 87.46 | 93834.00 | SAMSUNG BIOLOGICS | 1219000.00 | 1987000.00 | 1003000.00 | 0.00 | 50.94 | 56428.67 | Samsung Electronics | 262000.00 | 374500.00 | 90200.00 | 0.64 | 39.67 | 0.00 | Samsung Electronics Pref | 194000.00 | 245500.00 | 70400.00 | 0.87 | 183.43 | 155660.01 | Samsung Epis | 340500.00 | 773000.00 | 324500.00 | 0.00 | 269.60 | 8472.68 | SK hynix | 1681000.00 | 2987000.00 | 403000.00 | 0.18 | 27.09 | 0.00 | Stock | 52 Week | Price | +/Chg | High | Low | Yld | P/E | MV (bl) | Shin-Etsu Chemical | 6085.00 | -36.00 | 7930.00 | 4366.00 | 2.23 | 24.08 | 12078.70 | SoftBank | 242.00 | 0.70 | 252.90 | 202.60 | 3.64 | 21.32 | 11628.39 | SoftBank Group | 5603.00 | -237.00 | 7265.00 | 3365.00 | 0.19 | 6.64 | 33145.85 | Sony Financial Group | 149.20 | 2.70 | 180.40 | 129.30 | 5.36 | 18.74 | 1010.14 | Sony Group | 3814.00 | 108.00 | 4776.00 | 3643.00 | 0.92 | 69.73 | 22751.72 | Sumitomo Mitsui Financial | 3256.00 | -41.00 | 7260.00 | 3297.00 | 2.76 | 15.81 | 24152.93 | Takeda Pharmaceutical | 5843.00 | 27.00 | 6033.00 | 4102.00 | 3.49 | 60.31 | 93561.31 | Tokio Marine Holdings | 525.70 | 7.60 | 8468.00 | 501.00 | 3.11 | 28.23 | 135250.56 | Tokyo Electron | 12454.00 | 255.00 | 81260.00 | 11270.00 | 1.28 | 49.80 | 29123.34 | Toyota Motor | 2910.50 | 8.50 | 4000.00 | 2686.00 | 3.44 | 9.86 | 40478.71 | Kuwait (KWD) | BioNTechHong Kong (HKD) | 96.96 | 4.90 | 124.00 | 79.52 | 0.00 | 46.39 | 24.52 | AIA Group | 71.25 | 2.00 | 92.15 | 68.00 | 2.78 | 120.56 | 737.20 | HKEX | 377.80 | 2.80 | 460.20 | 360.00 | 3.69 | 26.89 | 478.99 | Saudi Arabia (SAN) | ACWA Power | 164.90 | 252.60 | 154.50 | 0.28 | 66.76 | 126.39 | Al Rajhi Bank | 62.30 | 110.00 | 62.00 | 4.83 | 15.97 | 373.80 | Saudi Arabian Mining | 62.40 | 79.90 | 54.90 | 0.00 | 32.67 | 242.66 | Saudi Arabian Oil | 25.74 | 27.96 | 23.29 | 5.27 | 17.88 | 62.29 | Saudi Basiic Industries | 45.80 | 62.50 | 45.70 | 5.68 | 5.33 | 137.40 | Saudi National Bank | 37.86 | 45.24 | 36.00 | 6.08 | 9.37 | 227.16 | STC Co | 42.60 | 45.38 | 41.14 | 5.16 | 14.34 | 213.00 | India (UNR) | Bajra Finance | 956.15 | 4.15 | 1177.60 | 788.40 | 0.63 | 50.29 | 5965.40 | Brah Amrit Ltd | 1806.60 | 10.25 | 2174.70 | 1726.05 | 1.33 | 138.01 | 12174.09 | HCL Technologies | 1214.30 | 33.55 | 1770.00 | 1030.00 | 4.94 | 18.93 | 3295.20 | HEHC Bank | 707.10 | 14.50 | 1020.35 | 682.00 | 1.84 | 14.28 | 10930.49 | Hindustan Unilever | 1861.00 | 18.80 | 2667.55 | 1827.10 | 2.20 | 42.55 | 4372.59 | ICICI Bank | 1354.10 | 0.10 | 1479.90 | 1187.55 | 0.89 | 21.43 | 9721.01 | Infosys | 1024.05 | 29.90 | 1727.85 | 980.30 | 4.68 | 15.68 | 4155.88 | ITC Bank | 266.20 | 12.15 | 426.50 | 253.15 | 5.45 | 9.58 | 3335.62 | Kohl Mahindra Bank | 440.10 | 1.40 | 441.60 | 345.40 | 0.15 | 3.95 | 4378.06 | Lancashire Corp | 3619.10 | 79.60 | 4410.00 | 3288.00 | 1.03 | 31.64 | 5306.57 | Lancissure Corp | 393.10 | 13.60 | 336.60 | 278.30 | 2.54 | 13.81 | 4972.71 | Mersai S.p.Adu Inc | 11395.00 | 172.80 | 17371.60 | 11220.10 | 1.23 | 24.41 | 3562.62 | Reliance Industries | 1170.80 | -6.50 | 1611.20 | 1161.00 | 0.51 | 22.75 | 5843.90 | State Bank of India | 956.10 | 17.45 | 1234.80 | 856.25 | 1.81 | 11.02 | 8844.00 | Sun Pharmaceutical Inds | 1756.90 | 4.40 | 2047.55 | 1583.60 | 0.91 | 38.53 | 4125.29 | Tata Consultancy Secs | 2163.00 | 87.75 | 3336.70 | 1976.00 | 3.05 | 16.12 | 7825.92 | Agricultural Bank China A | 6.49 | -0.10 | 6.71 | 5.08 | 4.70 | 8.31 | 199.34 | Alibaba Group Holding | 107.00 | 2.70 | 179.00 | 88.65 | 0.96 | 128.92 | 2129.51 | Bank of China H | 6.12 | 0.10 | 6.14 | 4.11 | 4.52 | 8.28 | 512.19 | Bank of Communications H | 8.39 | 0.04 | 8.47 | 6.33 | 4.70 | 7.77 | 293.75 | BPO H | 75.60 | 2.70 | 113.40 | 71.40 | 0.54 | 21.12 | 278.47 | China CITIC Bank H | 8.44 | 0.12 | 8.70 | 6.50 | 5.51 | 7.03 | 125.53 | China Construction Bank H | 9.73 | 0.07 | 9.90 | 7.18 | 4.87 | 7.49 | 23.40 | China Life Insurance H | 26.16 | -0.60 | 36.16 | 20.90 | 4.31 | 4.80 | 194.66 | China Merchants Bank H | 52.20 | 0.55 | 53.70 | 43.34 | 4.35 | 9.16 | 239.65 | China Petroleum Chemical H | 4.54 | 5.70 | 3.98 | 5.54 | 17.31 | 107.37 | China Shenhua Energy H | 44.22 | 0.80 | 49.62 | 37.54 | 5.26 | 16.20 | 149.35 | OTC Securities H | 23.72 | 0.18 | 32.50 | 23.24 | 4.14 | 12.10 | 81.21 | IDCC H | 7.50 | -0.07 | 7.77 | 5.56 | 5.00 | 7.50 | 650.96 | JCI com A | 105.60 | 0.40 | 137.20 | 95.80 | 3.72 | 15.33 | 263.63 | Meituan B | 71.50 | 2.10 | 108.00 | 63.65 | 0.00 | 18.62 | 400.14 | Midea Group H | 93.65 | 0.85 | 101.70 | 77.65 | 5.38 | 16.15 | 60.95 | NetEase | 193.50 | 7.00 | 244.80 | 168.80 | 2.38 | 18.27 | 621.53 | Nanjing Spring H | 41.62 | 1.18 | 56.25 | 37.90 | 2.72 | 29.50 | 209.54 | PetcoChina H | 9.83 | 12.22 | 7.08 | 5.98 | 11.43 | 207.40 | Ping An Insurance Group H | 51.85 | 0.55 | 74.70 | 50.00 | 6.07 | 6.75 | 386.16 | Prestant Savings Bank China H | 5.42 | 0.06 | 5.78 | 4.48 | 4.94 | 7.42 | 107.62 | Tencent Holdings | 424.80 | 13.40 | 681.00 | 411.00 | 1.25 | 17.16 | 3862.54 | Kimcom Buy C | 25.96 | 2.30 | 54.70 | 21.30 | 0.00 | 16.02 | 554.65 | China Mobile Group H | 32.94 | 1.66 | 46.98 | 26.58 | 2.80 | 16.89 | 197.28 | China (USD) | Full Truck Alliance | 8.56 | 0.23 | 13.40 | 7.46 | 2.70 | 285.33 | 159.65 | Fidis Holdings A | 113.71 | 4.95 | 202.53 | 80.50 | 2.24 | 10.88 | 87.10 | PDD Holdings A | 81.35 | 3.09 | 139.41 | 71.94 | 0.00 | 32.54 | 461.95 | Denmark (DKK) | Singapore (USD) | DBS Group Holdings | 73.36 | -0.49 | 79.05 | 51.80 | 4.33 | 19.10 | 208.63 | Oversea-Chinese Banking | 29.00 | 32.57 | 16.62 | 3.62 | 1779.14 | 130.94 | United Overseas Bank Ltd | 39.96 | -0.29 | 45.15 | 33.25 | 3.98 | 14.48 | 66.41 | Singapore (USD) | JOYY A | 81.05 | 0.20 | 81.93 | 54.24 | 6.64 | 324.20 | 52.92 | Sea /Singapore A | 95.25 | 2.36 | 191.39 | 77.05 | 0.00 | 35.94 | 52.05 | South Africa (TAR) | Bank Central Asia | 6050.00 | 50.00 | 8750.00 | 4820.00 | 0.00 | 12.96 | 7458.14 | PT Bantis Renewables | 2700.00 | 40.00 | 10725.00 | 2300.00 | 0.15 | 0.00 | 612.23 | Italy (EUR) | Assicurazioni Generali | 41.60 | 0.58 | 46.24 | 31.76 | 3.94 | 17.12 | 63.84 | Enel | 8.87 | 0.11 | 10.31 | 8.20 | 5.53 | 23.96 | 88.12 | Eni | 25.21 | 0.33 | 25.05 | 14.54 | 4.36 | 17.88 | 76.34 | Ferrari | 347.85 | 5.05 | 416.70 | 269.00 | 0.86 | 50.34 | 61.67 | Intesa Sampaolo | 6.12 | 0.06 | 6.94 | 4.81 | 6.15 | 26.59 | 108.15 | Stellantis | 4.00 | 0.00 | 10.49 | 3.61 | 0.00 | 5.38 | 11.60 | UniCredit SpA | 76.13 | 0.80 | 86.42 | 57.36 | 4.14 | 14.91 | 118.89 | Canon | 4768.00 | 73.00 | 5003.00 | 3967.00 | 3.40 | 16.24 | 62736.95 | Chagas Pharmaceutical | 6010.00 | 68.00 | 10700.00 | 5914.00 | 2.19 | 23.62 | 10168.25 | Caterpillar | 2923.00 | 30.50 | 4178.00 | 2296.00 | 3.81 | 17.35 | 4888.37 | FAST RETAILING | 71780.00 | 3030.00 | 86690.00 | 64580.00 | 1.25 | 69.60 | 22641.90 | Hausch | 5688.00 | 7.00 | 6039.00 | 4222.00 | 0.99 | 42.35 | 25712.10 | Honda Motor | 1725.50 | 14.00 | 1765.50 | 1238.00 | 4.05 | 16.28 | 7629.22 | HOYA | 2565.00 | 3.00 | 3040.00 | 2104.00 | 1.16 | 33.68 | 8369.37 | ITOCOJ | 2155.00 | 16.50 | 9959.00 | 1882.00 | 2.04 | 16.84 | 17071.18 | Japan Tobacco | 7230.00 | 270.00 | 7218.00 | 4836.00 | 3.76 | 25.16 | 14460.00 | KDDI | 2893.00 | -12.00 | 3121.00 | 2329.00 | 2.90 | 15.76 | 11593.56 | Kayacor | 8054.00 | 50.00 | 6783.00 | 5150.00 | 0.68 | 43.68 | 10561.95 | Mitsubishi | 4598.00 | 6.00 | 6012.00 | 3480.00 | 2.72 | 21.79 | 17873.59 | Mitsubishi Heavy | 3699.00 | -11.00 | 5286.00 | 3494.00 | 0.79 | 37.11 | 12371.91 | Mitsubishi U.S. Geni Fd | 3462.00 | 42.00 | 3813.00 | 2236.50 | 3.77 | 16.34 | 41068.02 | Toyota Co | 4778.00 | -1.00 | 4875.00 | 2759.00 | 1.63 | 19.49 | 11847.85 | Michiho Financial Group | 8214.00 | -136.00 | 8983.00 | 4568.00 | 1.93 | 16.33 | 20065.42 | Nintendo | 8146.00 | 295.00 | 14303.00 | 6544.00 | 1.99 | 22.35 | 10488.02 | NTT | 172.80 | 0.90 | 180.10 | 142.60 | 3.12 | 13.71 | 15656.15 | Recruit Holdings | 17755.00 | 555.00 | 18215.00 | 6040.00 | 0.15 | 50.76 | 26144.31 | Naspers N | 721.69 | 19.92 | 1295.72 | 608.05 | 0.70 | 85.55 | 537.61 | Spain (EUR) | Banco Santander | 12.02 | 0.11 | 13.12 | 8.10 | 1.70 | 13.21 | 174.97 | BBVA Spor | 23.11 | 0.09 | 25.57 | 15.39 | 3.40 | 88.88 | 127.36 | CaixaBank | 11.85 | -0.04 | 13.55 | 8.57 | 3.42 | 34.85 | 82.66 | Berdrolsa SA | 21.26 | 0.15 | 22.08 | 16.37 | 2.59 | 38.51 | 141.87 | NxtExx | 53.86 | 1.02 | 59.42 | 46.07 | 2.63 | 122.13 | 167.86 | Sweden (SEK) | Atlas Copco A | 209.80 | 4.20 | 214.10 | 149.45 | 1.43 | 38.66 | 704.76 | Atlas Copco B | 182.95 | 3.25 | 186.05 | 134.00 | 1.64 | 33.69 | 285.56 | EET | 284.10 | 8.10 | 383.00 | 259.00 | 1.76 | 458.97 | 371.11 | Investor B | 412.05 | 5.50 | 426.80 | 301.50 | 1.36 | 6.01 | 750.73 | Volvo B | 315.40 | 5.90 | 374.50 | 244.90 | 4.12 | 18.62 | 502.34 | Switzerland (CHF) | ABB | 79.64 | 0.84 | 89.14 | 53.78 | 1.18 | 30.75 | 145.20 | Alcon | 53.14 | 0.94 | 68.34 | 47.80 | 0.53 | 51.10 | 26.55 | Civic Financiers Richemt | 170.30 | 1.90 | 202.20 | 127.20 | 1.94 | 36.32 | 91.55 | Gravisden | 3440.00 | 31.00 | 3592.00 | 2566.00 | 2.09 | 38.64 | 31.76 | Holcim | 63.50 | 0.66 | 82.54 | 60.10 | 2.68 | 19.72 | 36.00 | Lorsa Group | 572.20 | 8.80 | 597.80 | 454.60 | 0.87 | 64.08 | 40.19 | Nestle | 76.04 | 0.04 | 87.09 | 70.29 | 4.08 | 21.66 | 195.92 | Nexen | 119.10 | 1.38 | 132.68 | 97.05 | 3.11 | 39.05 | 242.35 | Roche Holding | 366.60 | 5.60 | 383.00 | 270.80 | 2.67 | 22.66 | 39.11 | Roche Holding Pref | 357.80 | 5.10 | 375.80 | 291.00 | 2.74 | 22.11 | 251.38 | Sika | 173.80 | 2.95 | 197.60 | 120.35 | 2.13 | 26.74 | 27.89 | Swiss Re | 144.00 | 1.70 | 153.85 | 114.05 | 4.38 | 11.03 | 43.02 | UBS Group | 39.90 | 1.07 | 45.04 | 28.25 | 2.15 | 20.36 | 130.78 | Zurich Insurance Group | 576.00 | 3.20 | 626.00 | 521.00 | 5.21 | 18.01 | 87.11 | Hon Hai Precision | 249.00 | 314.00 | 187.50 | 2.88 | 18.30 | 3504.86 | MediaTek | 4690.00 | 5480.00 | 1130.00 | 1.14 | 70.89 | 7527.23 | Taiwan Semicon Mfg | 2550.00 | 2590.00 | 1375.00 | 1.02 | 38.4866127.54 | United Arab Emirates (AED) | 3i Group Plc | 23.98 | -0.04 | 44.97 | 18.25 | 3.52 | 4.45 | 24.52 | AstraZeneca | 120.26 | 0.28 | 157.32 | 98.92 | 1.99 | 24.09 | 186.53 | BAE Systems | 18.82 | 0.23 | 23.60 | 15.29 | 2.01 | 27.36 | 56.47 | Barclays | 4.38 | 0.08 | 5.54 | 3.54 | 2.63 | 9.99 | 58.43 | BP | 5.88 | 0.02 | 6.09 | 3.99 | 4.27 | 92.35 | British Amer Tobacco | 41.94 | 53.26 | 36.77 | 5.84 | 11.95 | 90.45 | Compass Group | 23.56 | -0.03 | 25.81 | 20.00 | 2.15 | 28.28 | 40.06 | Diageo | 16.73 | 0.35 | 19.04 | 12.96 | 2.26 | 28.32 | 37.27 | Experian | 26.98 | 0.16 | 37.07 | 22.03 | 1.92 | 21.68 | 23.73 | Glencore | 5.86 | 0.02 | 7.07 | 3.32 | 2.19 | 68.74 | Stock | Price | +Chg | High | Low | Yld | P/E | MV (bl) | GSX | 17.71 | 0.21 | 22.82 | 15.92 | 3.95 | 12.55 | 76.44 | Haleon | 3.55 | 0.06 | 4.16 | 3.18 | 2.06 | 19.08 | 31.21 | HSBC Holdings | 14.28 | 0.33 | 16.10 | 9.59 | 3.90 | 15.61 | 244.76 | Lloyds Banking Group | 1.04 | 0.02 | 1.18 | 0.82 | 3.86 | 14.86 | 59.72 | London Stock Exch Grp | 87.60 | 0.66 | 101.40 | 66.84 | 1.80 | 36.74 | 42.19 | National Grid | 11.64 | 0.17 | 14.29 | 10.86 | 4.16 | 17.78 | 58.54 | NatWest Group | 6.54 | 0.11 | 7.26 | 5.04 | 5.35 | 12.22 | 51.82 | Reckitt Benckiser Group | 52.16 | 0.84 | 65.23 | 36.64 | 4.15 | 11.14 | 33.05 | RELX | 27.60 | 0.40 | 35.39 | 19.91 | 2.50 | 24.51 | 48.09 | Rio Tinto | 71.44 | 0.18 | 91.17 | 49.70 | 4.88 | 15.39 | 89.67 | Rolls-Royce Holdings | 13.96 | 0.10 | 15.86 | 9.90 | 0.79 | 20.11 | 115.75 | Shell | 38.36 | 0.42 | 38.55 | 25.54 | 2.94 | 16.74 | 219.37 | Unilever | 47.38 | 0.65 | 55.42 | 36.44 | 3.48 | 12.95 | 102.07 | Amm Holdings | 266.28 | -9.01 | 452.70 | 100.02 | 0.00 | 313.27 | 283.32 | United States (USD) | 3M Co | 159.96 | -3.62 | 184.90 | 139.34 | 1.95 | 28.21 | 82.49 | Abbott Laboratories | 99.60 | 1.11 | 135.12 | 81.97 | 2.53 | 32.13 | 172.35 | AbbVie | 276.47 | 4.05 | 274.94 | 190.75 | 2.50 | 78.10 | 488.55 | Accenture Plc A | 209.06 | 0.70 | 291.09 | 118.15 | 3.27 | 16.55 | 127.93 | Adobe | 242.27 | 1.22 | 363.70 | 190.12 | 0.00 | 13.51 | 94.29 | Aflac | 114.54 | -0.40 | 130.22 | 105.43 | 2.13 | 12.30 | 57.42 | Air Products & Chemicals | 281.26 | 2.88 | 314.87 | 229.11 | 2.57 | 29.64 | 62.63 | Autiva A | 165.87 | 2.64 | 193.45 | 110.81 | 0.00 | 44.23 | 69.59 | Alphabet A | 351.66 | 3.37 | 406.81 | 235.84 | 0.25 | 17.44 | 2063.54 | Alphabet C | 347.86 | 3.00 | 404.47 | 236.69 | 0.25 | 17.25 | 1922.62 | Altia Group | 71.68 | 0.26 | 77.06 | 54.70 | 6.19 | 14.96 | 119.69 | Amazon.com | 262.43 | 8.37 | 287.20 | 196.00 | 0.00 | 20.81 | 2830.65 | AMG Electric Power | 608.10 | -12.58 | 658.52 | 168.22 | 0.00 | 153.17 | 992.71 | American Express | 308.17 | 0.00 | 387.49 | 269.63 | 0.00 | 18.99 | 66.86 | American International | 77.04 | -0.01 | 87.29 | 71.25 | 2.60 | 13.93 | 40.28 | American Tower | 182.24 | 15.51 | 196.08 | 160.06 | 3.88 | 25.00 | 84.92 | Ameriprise Financial | 500.51 | 1.43 | 572.56 | 422.37 | 1.36 | 11.93 | 44.21 | AMETEK Inc | 249.58 | 1.06 | 261.16 | 179.24 | 0.55 | 36.24 | 56.99 | Avgen | 414.87 | 7.43 | 447.03 | 288.00 | 2.43 | 25.58 | 224.29 | Amphend A | 87.24 | 1.92 | 178.52 | 76.74 | 0.57 | 41.54 | 215.13 | Analog Devices | 406.19 | 0.26 | 445.91 | 223.47 | 1.08 | 47.96 | 196.83 | Asn Plc A | 273.47 | -3.65 | 382.34 | 266.33 | 1.20 | 15.01 | 56.01 | Apollo Global Mgmt | 118.65 | 3.35 | 153.29 | 99.56 | 1.90 | 41.78 | 70.07 | Apple | 336.64 | -3.78 | 345.34 | 243.42 | 0.32 | 38.43 | 4917.98 | Applied Materials Inc | 507.03 | -2.54 | 739.67 | 203.40 | 0.42 | 43.41 | 402.38 | Applcavi A | 277.04 | -3.08 | 738.01 | 266.84 | 0.00 | 21.21 | 84.34 | Asea Management | 117.22 | 0.96 | 161.19 | 95.00 | 4.81 | 53.77 | 26.25 | Arthur J. Gallagher | 193.87 | -1.00 | 238.00 | 146.00 | 0.00 | 16.88 | 100.00 | Arthur J. Gallagher | 232.70 | -1.35 | 307.11 | 199.75 | 1.20 | 38.15 | 59.64 | AT&T | 22.18 | -2.69 | 29.43 | 19.89 | 5.00 | 7.32 | 151.99 | Atlassian Corp A | 206.79 | 3.22 | 203.89 | 56.01 | 0.00 | 884.71 | 32.88 | Autodesk | 235.35 | 1.75 | 320.00 | 185.50 | 0.00 | 30.29 | 49.19 | Auto Data Processing | 270.88 | 0.15 | 291.34 | 188.16 | 2.51 | 24.69 | 107.34 | AutoZone | 293.85 | 29.31 | 414.62 | 273.65 | 0.00 | 19.72 | 47.99 | Baker Hughes A | 56.70 | 0.40 | 70.41 | 43.92 | 1.62 | 18.00 | 56.28 | Bank of New York Mellon | 142.71 | -0.90 | 165.84 | 103.11 | 1.77 | 16.48 | 96.83 | Becton Dickinson | 183.75 | 1.00 | 213.08 | 140.11 | 2.29 | 31.68 | 50.05 | Berkshire Hathaway A | 74295.00 | 7413.03 | 86912.81 | 68600.00 | 0.00 | 86.97 | 39.16 | Berkshire Hathaway B | 515.62 | 4.57 | 537.74 | 464.01 | 0.00 | 19.68 | 72.10 | BlackRock Finance | 1082.39 | 17.04 | 1219.94 | 917.39 | 2.12 | 25.54 | 167.63 | Blackstone | 114.29 | 1.61 | 166.39 | 101.73 | 2.90 | 25.57 | 85.79 | Blackstone A | 77.24 | -2.02 | 87.47 | 49.12 | 4.11 | 133.17 | 431.41 | Boeing Co | 193.42 | -0.82 | 254.45 | 178.77 | 0.00 | 28.23 | 150.46 | BclH Corp | 54.32 | 0.71 | 65.22 | 46.12 | 2.36 | 12.35 | 379.85 | Booking Holdings | 160.34 | 0.37 | 5520.15 | 150.14 | 1.03 | 17.72 | 120.48 | Boston Scientific | 42.73 | 0.69 | 105.65 | 41.38 | 0.00 | 17.16 | 61.93 | Bristol Myers Squibb | 59.12 | -0.46 | 68.64 | 42.52 | 4.26 | 12.96 | 120.77 | Broadcom | 361.54 | 1.40 | 495.00 | 289.96 | 0.72 | 44.80 | 1725.86 | Cadence Design Systems | 352.84 | 4.00 | 416.69 | 262.75 | 0.00 | 69.73 | 97.17 | Capital One Financial | 199.26 | -0.14 | 258.63 | 174.24 | 1.61 | 10.98 | 122.24 | Carrier Global | 55.56 | -0.27 | 76.76 | 50.24 | 1.73 | 39.13 | 45.80 | Cavana A | 63.73 | 0.53 | 466.89 | 56.12 | 0.00 | 28.58 | 45.88 | Carepiral | 800.47 | 4.29 | 1073.46 | 491.30 | 0.81 | 34.30 | 367.96 | CROE Group A | 130.80 | -0.28 | 174.27 | 121.69 | 0.00 | 33.71 | 37.88 | Cencora | 323.85 | 2.50 | 377.54 | 244.82 | 0.74 | 23.94 | 61.80 | Charter Comms A | 102.38 | -6.29 | 275.58 | 104.91 | 0.00 | 2.66 | 11.85 | Cheniere Energy | 278.67 | -1.86 | 368.88 | 236.99 | 0.00 | 19.89 | 48.57 | Chipotle mexican Engle | 211.98 | 0.43 | 217.78 | 146.49 | 3.36 | 20.34 | 418.82 | Chipotle Mexican Grill | 31.59 | -1.09 | 42.81 | 28.04 | 0.00 | 28.98 | 39.97 | Chubb | 341.20 | -2.58 | 365.91 | 265.30 | 1.20 | 95.57 | 131.63 | Cintas | 202.41 | 1.29 | 219.16 | 161.16 | 0.00 | 39.46 | 80.37 | Cisco Systems | 118.39 | 3.50 | 130.37 | 66.81 | 1.42 | 35.24 | 466.76 | Citigroup | 129.64 | 1.56 | 147.96 | 93.66 | 2.07 | 18.23 | 217.46 | Cloudflare Inc A | 360.93 | 19.04 | 370.35 | 158.83 | 0.00 | 622.29 | 116.44 | CME Group A | 280.56 | 4.12 | 329.16 | 218.31 | 4.03 | 23.68 | 100.88 | Cognizant Tech Sci A | 59.20 | -0.81 | 87.03 | 37.08 | 2.23 | 12.65 | 26.67 | Coinbase Global A | 179.39 | 7.39 | 402.16 | 139.11 | 0.00 | 46.35 | 39.97 | Colgate-Palmolite | 88.27 | 0.17 | 99.33 | 74.55 | 2.40 | 34.75 | 70.37 | Comcast A | 20.66 | -0.55 | 32.85 | 20.75 | 6.39 | 6.60 | 73.12 | ConocoPhillips | 134.10 | -0.09 | 141.62 | 85.57 | 2.51 | 17.74 | 161.10 | Constellation Energy | 298.07 | 13.00 | 412.70 | 228.63 | 0.57 | 29.11 | 105.61 | Constellation Software A | 27.32 | -0.16 | 45.89 | 26.38 | 0.00 | 17.51 | 25.31 | Corning | 156.68 | 3.85 | 271.78 | 77.39 | 0.71 | 70.58 | 134.96 | Corteva | 13.24 | -0.51 | 90.97 | 11.74 | 5.44 | 8.02 | 8.84 | Costco Wholesale | 946.92 | -1.00 | 1086.50 | 844.06 | 0.62 | 45.57 | 419.61 | Coupang A | 15.82 | 0.41 | 32.70 | 13.35 | 0.00 | 36.79 | 25.94 | CRV | 81.54 | -0.34 | 131.55 | 80.13 | 1.91 | 16.08 | 54.25 | CrowdStrike Holdings A | 275.04 | 12.03 | 786.00 | 174.14 | 0.00 | 66876.80 | 281.62 | VOLATILITY INDICES | Stock | Price | +/Chg | Crown Castle | 79.64 | 10.75 | CSX | 47.26 | -0.08 | Cummins | 523.39 | 2.99 | CVS Health | 86.16 | -1.64 | Danaher | 219.81 | 2.35 | Deere & Co | 620.93 | -31.65 | Del Technologies C | 586.06 | 11.51 | Diamondback Energy | 192.13 | 0.45 | Digital Realty Trust | 178.76 | 2.69 | Dominion Energy | 61.64 | -0.11 | DoorDash A | 196.50 | 4.79 | DR Horton | 134.88 | -0.94 | Duke Energy | 116.65 | -0.19 | Eaton Corp | 429.65 | 5.14 | Eckelt | 291.83 | 0.14 | Fresnillo Lifesciences Corp | 85.21 | 0.97 | Elevance Health | 412.70 | 11.76 | Eli Lilly & Co | 1179.27 | 8.67 | Emerson Electric | 161.83 | 2.77 | EOG Resources | 148.16 | -0.35 | Equinix | 1026.06 | 14.90 | Exelon | 41.76 | 0.03 | ExxonMobil Hldgs | 168.94 | 0.44 | Fastenal | 50.75 | 0.26 | FedEx | 291.71 | -0.02 | Ferguson Ent | 220.04 | 3.31 | FICO/SSAC | 667.58 | -39.85 | Fiserv | 45.63 | -0.31 | Flutter Entertainment | 79.78 | -1.80 | Fortinet Inc | 194.75 | 5.65 | Freeport McElman | 73.69 | 2.55 | Garden Res | 286.36 | -0.08 | Genus A | 308.29 | 2.58 | GE Healthcare Tech | 65.74 | 1.52 | GE Vernova | 1004.73 | 5.38 | General Dynamics | 331.27 | 1.37 | General Motors | 82.73 | 0.48 | Glaxo Sciences | 151.17 | 4.07 | Goldman Sachs Group | 895.32 | 12.73 | HCA Healthcare | 451.09 | 6.08 | Hilton Worldwide Holdings | 266.56 | 3.27 | Home Depot | 290.74 | -4.73 | Honeywell International | 207.73 | 1.13 | Howmet Aerospace | 225.26 | 2.70 | IBM | 227.13 | 0.52 | Illinois Tool Works | 264.13 | -0.58 | Intel | 104.70 | -0.38 | Interactive Brokers Gp-A | 87.87 | 1.40 | Intercontinental Exchange | 156.18 | 0.64 | Intuit | 302.75 | -1.13 | Intuitive Surgical | 423.98 | 8.55 | Johnson & Johnson | 261.44 | 4.98 | Johnson Controls Ltd | 157.44 | 3.44 | JPMorgan Chase | 332.99 | 1.57 | Kenya | 17.70 | -0.03 | Keurig Dr Pepper | 31.76 | 0.50 | Kimberly Clark | 97.59 | -0.15 | Kinder Morgan P | 32.49 | 0.24 | KKR & Co | 90.95 | 1.39 | KLA | 195.57 | -1.15 | L3Harris Technologies | 236.97 | 0.05 | Lam Research | 318.84 | -1.75 | Linde | 483.73 | 2.03 | Lockheed Martin | 509.59 | 1.70 | Lowes* | 186.00 | 1.85 | Lululemon athletica | 14.50 | 1.82 | Marathon Petroleum | 455.00 | -0.31 | Marathon International | 365.88 | 4.89 | Marsh | 175.76 | -0.91 | Marvell Technology | 275.28 | 0.62 | Mastercard A | 589.14 | 14.38 | McDonald's | 235.23 | -1.67 | McKesson | 938.84 | 8.59 | Medtronic | 88.48 | 0.73 | Merck & Co | 145.60 | 3.22 | Meta Platforms A | 718.67 | -2.22 | MetLife | 98.33 | -0.14 | Micron Technology | 1029.00 | -6.94 | Microsoft | 535.07 | 12.46 | Mondelez International | 60.41 | -0.26 | Monster Beverage | 43.64 | -0.01 | Moody's | 464.23 | 5.54 | Morgan Stanley | 190.02 | 2.58 | Motorola Solutions | 444.18 | 2.94 | Morgan Stanley | 565.13 | 3.45 | Nasdaq | 93.65 | 1.28 | Netflix | 70.30 | -1.27 | Newmont Corp | 117.84 | 2.29 | NextEra Energy | 77.38 | 0.01 | NIKE B | 34.71 | -0.03 | Norfolk Southern | 317.79 | 0.80 | Northrop Grumman | 480.72 | -3.76 | Nu Holdings A | 16.12 | 0.74 | NVIDIA | 229.28 | -1.20 | NXP Semiconductors | 227.52 | -3.55 | Occidental Petroleum | 60.11 | -0.17 | Stock | Price | 52 Week | Chg | High | Low | Yld | P/E | Mdy's | ONEOK | 89.80 | -0.49 | 90.92 | 87.16 | 47.77 | 15.46 | 56.61 | Oracle | 141.40 | 5.71 | 322.54 | 114.50 | 1.41 | 21.82 | 427.56 | O'Reilly Automotive | 86.45 | 0.44 | 104.06 | 82.59 | 0.00 | 27.36 | 69.93 | Old Worldwide | 65.95 | 0.25 | 94.56 | 57.38 | 2.67 | 31.74 | 25.14 | PNC | 151.25 | 0.64 | 167.27 | 137.62 | 7.98 | 22.40 | 25.23 | PACCAR | 108.04 | -1.62 | 139.24 | 92.25 | 1.30 | 22.70 | 56.87 | Palantir Technologies A | 209.05 | 10.27 | 207.52 | 106.37 | 0.00 | 164.61 | 490.96 | Palo Alto Networks | 418.78 | 20.28 | 432.32 | 139.57 | 0.00 | 1021.41 | 342.56 | Parker-Hannifin | 962.56 | 15.60 | 1099.94 | 715.37 | 0.83 | 33.32 | 121.39 | Paychex | 103.98 | -0.48 | 129.24 | 85.45 | 4.58 | 20.63 | 37.01 | PayPal Holdings | 55.53 | 0.51 | 79.22 | 38.46 | 1.01 | 10.42 | 47.50 | PepsiCo | 125.97 | -2.37 | 171.48 | 123.47 | 4.70 | 15.79 | 171.66 | Pfizer | 28.28 | 0.46 | 29.21 | 23.62 | 6.08 | 36.73 | 161.19 | Philip Morris Intl | 201.19 | 0.69 | 207.76 | 142.11 | 3.18 | 28.91 | 313.58 | Phillips 66 | 278.18 | -3.42 | 282.64 | 126.74 | 1.83 | 15.82 | 111.00 | PNC Financial Services Gp | 219.21 | -0.47 | 258.96 | 176.88 | 3.65 | 12.06 | 87.45 | Progressive | 217.43 | -1.30 | 245.64 | 169.20 | 0.18 | 10.88 | 126.35 | Prologis Inc | 129.49 | 0.20 | 153.35 | 111.03 | 3.31 | 28.65 | 123.06 | Prudential Financial | 113.09 | -0.44 | 127.72 | 91.89 | 4.95 | 10.20 | 39.02 | Public Storage | 289.86 | 4.34 | 335.55 | 256.54 | 4.14 | 27.55 | 54.16 | QUALCOMM | 175.50 | -0.51 | 259.92 | 131.89 | 2.10 | 19.88 | 187.41 | Realty Income | 54.18 | -0.13 | 67.15 | 46.00 | 0.00 | 17.54 | 17.50 | Regen Pharmaceutica | 146.57 | 6.97 | 859.34 | 541.00 | 0.50 | 17.53 | 75.50 | Republic Services | 216.88 | 0.04 | 233.42 | 196.41 | 1.24 | 30.72 | 66.41 | Redbrioth Market A | 109.02 | 2.01 | 153.56 | 63.52 | 0.00 | 47.19 | 86.19 | Rubba A | 48.09 | 2.57 | 141.95 | 33.88 | 0.00 | 34.11 | 32.22 | Roper Technologies | 364.09 | -0.14 | 520.85 | 305.96 | 1.00 | 15.11 | 36.01 | Ross Stores | 222.41 | -2.79 | 257.00 | 147.49 | 0.80 | 26.70 | 71.05 | Royal Caribbean Group | 282.26 | 0.85 | 356.39 | 222.22 | 1.95 | 104.93 | 75.70 | RTX | 185.97 | 1.65 | 226.88 | 155.64 | 1.57 | 32.34 | 250.64 | S&P Global | 407.82 | 5.09 | 552.25 | 381.61 | 0.95 | 24.81 | 120.23 | Salesforce | 229.13 | 1.33 | 269.11 | 146.32 | 0.77 | 20.94 | 188.57 | Schlumberger | 48.95 | -0.03 | 60.46 | 31.64 | 2.41 | 10.85 | 72.65 | Sempra | 81.34 | 1.26 | 101.04 | 76.21 | 3.23 | 23.58 | 53.19 | ServiceNow | 140.86 | 1.11 | 964.83 | 81.24 | 0.00 | 83.35 | 145.65 | Simon Property Group | 199.42 | -0.19 | 238.50 | 172.19 | 4.51 | 14.07 | 64.52 | Snowflake A | 368.89 | 25.49 | 384.56 | 118.30 | 0.00 | 119.77 | 130.14 | Solutions Advanced | 61.35 | 1.12 | 90.80 | 40.43 | 0.49 | 52.44 | 9.75 | Southern Co | 66.17 | 0.02 | 100.83 | 61.68 | 3.53 | 20.66 | 99.13 | Southern Copper | 209.21 | -0.34 | 237.55 | 146.00 | 0.00 | 23.88 | 108.44 | Starbucks | 529.14 | 2.72 | 700.12 | 450.00 | 0.00 | 237.28 | 108.14 | Starbucks Corp | 90.75 | -2.46 | 110.51 | 77.99 | 2.78 | 52.46 | 103.45 | Strategic A | 154.34 | 2.87 | 328.99 | 81.81 | 0.00 | 1.56 | 62.11 | Stryker | 277.33 | 0.36 | 392.55 | 267.00 | 1.27 | 28.50 | 106.38 | Synopsys | 509.99 | 12.24 | 539.48 | 362.55 | 0.00 | 88.39 | 97.73 | Targa Resources | 286.70 | -1.79 | 307.94 | 144.14 | 1.74 | 27.33 | 61.48 | Target | 153.64 | -1.12 | 170.75 | 83.44 | 3.02 | 15.87 | 69.80 | TE Connectivity | 218.29 | 3.98 | 252.56 | 190.27 | 1.43 | 21.23 | 63.20 | Tesla | 382.70 | 7.70 | 498.83 | 297.38 | 0.00 | 324.32 | 1511.49 | Texas Instruments | 283.74 | -4.46 | 334.03 | 152.73 | 2.14 | 42.93 | 259.12 | The Altstate | 225.43 | -1.20 | 277.22 | 188.08 | 1.88 | 4.54 | 58.01 | The Charles Schwab | 96.70 | -0.17 | 114.53 | 83.96 | 1.32 | 17.52 | 167.23 | The Citigroup | 282.43 | 1.40 | 312.18 | 238.51 | 2.21 | 11.89 | 74.63 | The Coca-Cola | 88.05 | 0.28 | 92.49 | 66.00 | 2.41 | 26.44 | 378.84 | The Kroger | 61.64 | 0.23 | 76.58 | 54.15 | 2.53 | 33.32 | 36.40 | The Steiner-Williams | 319.36 | -1.67 | 377.77 | 289.86 | 1.00 | 29.19 | 77.53 | The TJX Cos | 138.76 | 0.01 | 170.00 | 122.78 | 1.58 | 25.37 | 152.63 | The Wall Street Journal | 72.03 | 0.04 | 86.66 | 53.88 | 0.00 | 16.88 | 109.85 | Thermo Fisher Scientific | 658.02 | 6.00 | 694.33 | 435.27 | 0.29 | 35.36 | 243.30 | T-Mobile US | 148.58 | -22.73 | 231.02 | 160.81 | 2.85 | 15.51 | 159.38 | Trade Connectors | 476.98 | 7.04 | 508.57 | 348.06 | 0.88 | 36.16 | 104.95 | TransDigm Group | 1107.99 | 18.69 | 1463.03 | 1071.25 | 0.00 | 33.61 | 61.25 | Travelers | 368.75 | -1.52 | 398.69 | 252.26 | 1.36 | 9.77 | 76.91 | Truist Financial | 46.11 | -0.07 | 56.20 | 40.78 | 4.51 | 10.46 | 56.33 | Uber Technologies | 71.51 | 1.27 | 100.35 | 65.41 | 0.00 | 15.48 | 146.06 | Union Pacific | 278.34 | 0.14 | 315.99 | 215.53 | 2.04 | 23.20 | 165.35 | United Parcel Service B | 94.57 | 0.44 | 122.41 | 82.00 | 6.94 | 17.58 | 70.87 | United Rentals | 1056.37 | 6.22 | 1179.18 | 701.59 | 0.73 | 25.35 | 65.75 | UnitedHealth Group | 379.30 | 8.35 | 461.62 | 255.97 | 2.45 | 24.31 | 340.46 | US Bancorp | 57.08 | 0.05 | 66.08 | 45.02 | 3.78 | 11.39 | 88.93 | Valero Energy | 433.75 | -10.05 | 446.48 | 155.29 | 1.11 | 18.08 | 124.89 | Verizon Communications | 41.65 | -4.70 | 51.68 | 10.60 | 6.79 | 10.85 | 173.05 | Verset Media Group A | 30.64 | -1.13 | 59.00 | 27.17 | 4.90 | 0.00 | 4.25 | Vertex Pharmaceuticals | 510.08 | 6.83 | 580.25 | 402.58 | 0.00 | 29.47 | 129.29 | Visa 'n' Energy | 385.75 | -1.66 | 437.55 | 265.65 | 0.00 | 39.65 | 169.55 | Walmart | 161.48 | 5.34 | 217.10 | 123.66 | 0.57 | 26.91 | 54.20 | Walmart | 111.35 | 0.79 | 135.16 | 98.88 | 0.89 | 40.20 | 883.42 | Walt Disney | 108.05 | 1.03 | 117.09 | 92.19 | 1.39 | 22.19 | 186.57 | Waste Management | 208.83 | -1.27 | 248.13 | 194.11 | 1.81 | 29.50 | 83.47 | Wells Fargo | 83.55 | 1.52 | 97.76 | 72.78 | 2.39 | 12.00 | 252.66 | Weltower | 225.47 | 2.43 | 255.20 | 163.75 | 1.51 | 98.03 | 162.51 | Workday A | 186.59 | -1.22 | 247.40 | 110.36 | 0.00 | 37.92 | 36.57 | WW Grainger | 1289.79 | 21.12 | 1419.91 | 906.52 | 0.77 | 32.83 | 60.75 | Yum Brands | 144.82 | 1.82 | 170.14 | 134.26 | 2.07 | 18.13 | 39.52 | Zscint A | 74.81 | 1.73 | 148.30 | 68.77 | 2.83 | 12.20 | 30.91 | COMMODITIES | INTEREST RATES: OFFICIAL | Rate | Current | Since | Last | US | Fed Funds | 3.75-4.00 | 16-09-2028 | 3.50-3.75 | US | Prime | 7.00 | 16-09-2028 | 6.75 | US | Discount | 4.00 | 16-09-2028 | 3.75 | Euro | Repo | 2.65 | 16-09-2028 | 2.40 | UK | Repo | 3.75 | 18-12-2025 | 4.00 | Japan | O'night Call | 1.25 | 18-09-2028 | 1.00 | Switzerland | SNB | 0.00 | 19-06-2025 | 0.25 | INTEREST RATES: MARKET | | Overnight | Change | OneMonth | ThreeMonth | SixMonth | OneYear | Day | Week | SOFR | 3.870 | -0.010 | -0.010 | 3.925 | 4.039 | 4.193 | 4.472 | EURIBOR | - | - | - | 2.431 | 2.632 | 2.909 | 3.191 | ESTR | 2.437 | -0.002 | -0.003 | 2.452 | 2.514 | 2.648 | 2.873 | SARION | -0.041 | -0.002 | -0.002 | -0.040 | -0.046 | -0.044 | -0.046 | SONIA | 3.733 | 0.001 | 0.002 | 3.790 | 3.955 | 4.149 | 4.481 | Rates are fixed at 11am UK time.

BONDS: TEN YEAR GOVT SPREADS | BONDS: TEN YEAR GOVT SPREADS | Bid Yield | Spread vs Bund | Spread vs Bond | Bid Yield | Spread vs Bund | Spread vs Bond | Austria | 3.67 | 0.20 | -1.57 | Italy | 4.43 | 0.96 | -0.81 | Australia | 5.27 | 1.80 | 0.03 | Japan | 3.00 | -0.47 | -2.24 | Belgium | 4.22 | 0.75 | -1.02 | Netherlands | 3.52 | 0.05 | -1.72 | Brazil | 12.55 | 9.08 | 7.31 | Poland | 6.30 | 2.83 | 1.06 | China | 1.69 | -1.78 | -3.55 | Portugal | 3.88 | 0.41 | -1.36 | Denmark | 3.26 | -0.21 | -1.98 | Spain | 4.00 | 0.53 | -1.24 | France | 4.80 | 1.33 | -0.44 | Sweden | 3.09 | -0.38 | -2.15 | Germany | 3.47 | 0.00 | -1.77 | UK | 5.38 | 1.91 | 0.14 | Ireland | 3.50 | 0.03 | -1.74 | US | 5.24 | 1.77 | 0.00 |

Data provided by ICE: www.ice.com The prices listed are indicative and believed accurate at the time of publication. No offer is made by ICE or the FT. The FT does not warrant nor guarantee that the information is reliable or complete. The FT does not accept responsibility and will not be liable for any loss arising from the reliance on or use of the information. For further information contact newspapers@ice.com | Energy | Price | Change | Brent Crude | 106.70 | 2.03 | Natural Gas | 3.17 | -0.05 | Light Crude Oil | 93.58 | 1.73 | 3.5 Fuel Oil | 596.07 | 5.53 | Euro Naphtha Oil | 903.50 | 4.88 | See FTSE website for more details www.ftse.com/products/indices/gilts.

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BONDS: GLOBAL INVESTMENT GRADE | Base Metals | Aluminium | 3054.00 | 5.50 | Copper | 14618.50 | 78.50 | Lead | 1882.50 | -5.50 | Nickel | 15595.00 | -27.00 | Tin | 53200.00 | 194.00 | Zinc | 3755.50 | -50.00 | BONDS: BENCHMARK GOVERNMENT | Precious Metals | Gold | 4164.89 | -23.93 | Silver ($) | 60.24 | -0.54 | Platinum | 1680.90 | -6.00 | Palladium | 1145.93 | -2.08 | Iron Ore | 90.85 | 0.10 | Agriculture | Price | Change | Corn | 483.50 | 3.75 | Wheat | 206.00 | -0.50 | Rapeseed | 520.25 | 18.25 | Sunflower Seed | 10400.00 | 111.00 | Soybeans | 1290.75 | -1.25 | Soybeans Meal | 373.50 | 4.80 | Cocoa (ICE Liffe) | 4246.00 | 13.00 | Cocoa (ICE US) | 5673.00 | 8.00 | Coffee (Robusta) | 3422.00 | 44.00 | Coffee (Arabica) | 350.00 | -5.80 | White Sugar | 542.50 | 1.40 | Sugar #11 | 20.75 | 0.50 | Cotton | 80.67 | 0.13 | Orange Juice | 151.85 | 3.15 | Maple Leaf | 4142.00 | -19.29 | Live Cattle | 224.18 | -0.80 | Feeder Cattle | 341.98 | -1.88 | Lean Hogs | 75.13 | 0.08 | Palm Oil (Malaysian) | 1145.50 | 9.50 | Tradeweb | Bulk Commodities | Baltic Dry | 2852.00 | -65.00 | Richards ICE Futures | 127.50 | -0.25 | Sources: Energy: NYMEX. Base Metals: LME / London Metal Exchange. Corn, Wheat, Soybeans: CBOT. Live Cattle, Live Feeder, Lean Hogs: CME. | Red Date | Coupon | Bid Price | Bid Yield | Daily | Weekly | US$ | Morgan Stanley | 30/01 | 4.00 | 97.60 | 4.57 | -0.02 | 0.20 | Trust Finl Corp | 28/06 | 4.12 | 99.45 | 5.12 | 0.02 | 0.07 | National Rural | 32/11 | 4.02 | 92.01 | 5.27 | -0.03 | 0.83 | Washington Gaslight Co | 36/03 | 5.78 | 97.97 | 5.02 | 0.00 | 0.00 | Northern States Power | 28/03 | 8.13 | 100.66 | 5.05 | 0.00 | 0.00 | Oklahoma Gas & Elec | 28/04 | 6.50 | 101.37 | 4.58 | 0.32 | -0.67 | Euro | Germany | 25/08 | 2.22 | 88.63 | 3.20 | -0.01 | -0.05 | Spain | 46/10 | 2.88 | 79.32 | 4.47 | 0.03 | 0.44 | Belgium | 47/06 | 1.50 | 56.99 | 4.98 | -0.67 | -0.99 | France | 48/05 | 2.00 | 57.76 | 5.34 | -0.29 | -0.51 | £ Sterling | United Kingdom | 46/12 | 4.25 | 80.86 | 5.88 | 0.23 | 0.23 | United Kingdom | 47/07 | 1.50 | 47.44 | 5.94 | 0.17 | 0.17 | Oct 12 | Day Chg | Prev | 52 wk high | 52 wk low | VIX | 15.13 | 0.29 | 14.84 | 35.30 | 13.38 | VXD | 14.59 | -0.53 | 15.12 | 42.71 | 2.43 | VDAX | 17.97 | -0.11 | 18.08 | 35.58 | 13.53 | Red Date | Coupon | Bid Price | Bid Yield | Daily yield chg. | Wkly yield chg. | Mnthly yield chg. | Year yield chg. | Australia | 06/54 | 4.75 | 85.67 | 5.79 | -0.02 | -0.02 | -0.02 | 0.55 | 04/27 | 4.75 | 99.95 | 4.84 | 0.00 | 0.01 | -0.02 | 1.47 | Austria | 02/33 | 2.88 | 96.31 | 3.56 | 0.00 | 0.06 | 0.05 | 0.68 | 10/53 | 3.13 | 84.85 | 4.09 | -0.01 | 0.01 | -0.01 | 0.26 | Belgium | 06/54 | 3.25 | 74.79 | 5.00 | 0.01 | 0.05 | 0.16 | 0.71 | Canada | 06/27 | 1.00 | 99.01 | 2.82 | 0.00 | 0.00 | 0.03 | -0.18 | 12/55 | 2.75 | 75.19 | 3.93 | 0.00 | 0.03 | 0.13 | 0.15 | Denmark | 11/33 | 2.25 | 94.15 | 2.78 | 0.00 | 0.00 | 0.00 | 0.20 | 11/39 | 4.50 | 111.28 | 3.42 | -0.02 | -0.03 | -0.03 | 0.48 | Finland | 09/27 | 0.50 | 97.72 | 3.02 | 0.03 | 0.11 | -0.04 | 0.89 | 09/33 | 3.00 | 95.91 | 3.67 | 0.01 | 0.04 | 0.08 | 0.70 | France | 05/54 | 3.00 | 66.13 | 5.38 | 0.04 | 0.05 | 0.30 | 0.94 | 11/33 | 3.50 | 93.67 | 4.55 | 0.05 | 0.05 | -1.08 | -0.26 | Germany | 08/33 | 2.60 | 95.51 | 3.35 | 0.01 | 0.00 | -0.03 | 0.64 | 08/53 | 1.75 | 65.96 | 3.86 | -0.01 | -0.02 | -0.04 | 0.37 | Greece | 06/28 | 3.88 | 100.91 | 3.30 | -0.03 | -0.05 | 0.01 | 0.86 | 06/33 | 4.25 | 100.38 | 4.18 | -0.01 | 0.84 | 0.17 | 0.90 | Ireland | 10/32 | 0.35 | 83.48 | 3.44 | -0.15 | -0.58 | 0.46 | 0.81 | Italy | 12/27 | 2.63 | 99.23 | 3.30 | 0.03 | 0.03 | 0.08 | 1.05 | 03/34 | 4.13 | 99.19 | 4.34 | 0.01 | -0.04 | 0.23 | 1.03 | Netherlands | 01/54 | 2.00 | 69.03 | 3.85 | -0.01 | -0.03 | -0.04 | 0.27 | 07/33 | 2.50 | 94.42 | 3.44 | 0.01 | -0.01 | 0.01 | 0.64 | Poland | 04/28 | 2.75 | 97.34 | 4.58 | 0.02 | 0.00 | -4.19 | 0.74 | 10/33 | 6.00 | 99.33 | 6.12 | 0.03 | 0.04 | 0.11 | 1.18 | Portugal | 07/32 | 1.63 | 89.84 | 3.61 | 0.01 | -0.03 | 0.11 | 0.83 | Spain | 10/52 | 1.88 | 59.93 | 4.55 | 0.00 | -0.04 | 0.08 | 0.51 | 10/33 | 3.50 | 98.28 | 3.82 | 0.01 | -0.02 | 0.13 | 0.77 | Sweden | 11/33 | 1.75 | 96.30 | 2.50 | 0.00 | 0.00 | 0.00 | -0.14 | Switzerland | 03/36 | 2.50 | 117.84 | 0.32 | 0.00 | -0.02 | -0.22 | -0.82 | United Kingdom | 06/28 | 0.00 | 92.61 | 4.76 | 0.01 | 0.05 | 0.05 | 0.99 | 10/53 | 3.75 | 70.60 | 5.95 | -0.02 | -0.02 | 0.02 | 0.73 | United States | 11/33 | 4.50 | 96.11 | 5.16 | 0.00 | -0.07 | 0.29 | 1.19 | 11/53 | 4.75 | 87.67 | 5.64 | -0.01 | -0.09 | 0.27 | 0.81 | GILTS: UK CASH MARKET | Oct 12 | Price | Yield | Red Yield | Day | Week | High | Low | Tr 1.25pc '27 | 97.63 | 1.28 | 4.43 | -0.02 | 0.04 | 97.71 | 95.53 | Tr 0.875pc '29 | 88.93 | 0.98 | 4.85 | -0.06 | -0.09 | 91.00 | 0.01 | Tr 1pc '32 | 81.36 | 1.23 | 5.05 | -0.04 | -0.10 | 85.07 | 81.01 | Tr 4.25pc '36 | 91.70 | 4.63 | 5.39 | 0.05 | -0.10 | 99.39 | 91.15 | Tr 4.5pc '42 | 86.63 | 5.19 | 5.78 | 0.20 | 0.02 | 96.45 | 85.71 | Tr 3.75pc '52 | 71.48 | 5.25 | 5.92 | 0.31 | 0.21 | 81.50 | 70.51 | Tr 4pc '60 | 72.71 | 5.50 | 5.88 | 0.34 | 0.29 | 83.52 | 71.62 | Closing prices and highs & lows are in traded currency. Market capitalisations are in local currency. Highs & lows are based on a rolling 52 week period

-18.07

-05.11

GILTS: UK FTSE ACTUARIES INDICES | Price IndicesFixed Coupon | Oct 12 | Dayschg % | TotalReturn | MonthReturn | YearReturn | Yield | Up to 5 Years | 84.48 | 0.01 | 2652.52 | 0.32 | 0.90 | 4.84 | 5-10 Years | 141.37 | 0.07 | 3346.86 | 0.01 | -2.03 | 5.25 | 10-15 Years | 139.22 | 0.19 | 3659.84 | -0.03 | -3.76 | 5.62 | 5-15 Years | 139.12 | 0.11 | 3413.11 | 0.00 | -2.56 | 5.40 | Over 15 Years | 162.28 | 0.46 | 3238.91 | 0.54 | -6.91 | 5.87 | All stocks | 123.84 | 0.15 | 3102.91 | 0.25 | -2.35 | 5.57 | Index Linked | Oct 12 | Day's chg % | Month chg % | Year's chg % | Total Return | Return 1 Month | Return 1 Year | Up to 5 Years | 365.36 | 0.01 | 0.54 | 2.85 | 3188.50 | 0.56 | 3.68 | Over 5 Years | 467.22 | 0.49 | 0.87 | -2.30 | 3663.57 | 1.06 | -1.69 | 5-15 Years | 456.49 | 0.21 | 0.25 | 0.80 | 3836.21 | 0.46 | 1.56 | Over 15 Years | 466.12 | 0.79 | 1.55 | -5.25 | 3520.96 | 1.71 | -4.78 | All stocks | 465.82 | 0.38 | 0.80 | -1.26 | 3728.08 | 0.94 | -0.62 | Yield Indices | Oct 12 | Oct 9 | Yr Ago | 5 Yrs | 5.02 | 5.02 | 4.26 | 10 Yrs | 5.43 | 5.44 | 4.59 | 15 Yrs | 5.71 | 5.73 | 4.88 | 20 Yrs | 5.85 | 5.87 | 5.02 | 45 Yrs | 5.68 | 5.71 | 4.91 | # Transparency. Price discovery. Innovation.

ice.com | Real Yield 0% Inflation | Oct 12 | Dur Yrs | Previous | Yr Ago | Up to 5 Years | 1.02 | 2.59 | 1.03 | 0.73 | Over 5 Years | 2.36 | 16.14 | 2.39 | 1.90 | 5-15 Years | 2.09 | 9.42 | 2.11 | 1.61 | Over 15 Years | 2.48 | 22.92 | 2.51 | 2.01 | All stocks | 2.30 | 13.24 | 2.33 | 1.86 | Real Yield 5% Inflation | Oct 12 | Dur Yrs | Previous | Yr Ago | Up to 5 Years | 0.81 | 2.59 | 0.81 | 0.43 | Over 5 Years | 2.34 | 16.14 | 2.37 | 1.88 | 5-15 Years | 2.04 | 9.42 | 2.06 | 1.54 | Over 15 Years | 2.47 | 22.92 | 2.50 | 2.00 | All stocks | 2.27 | 13.24 | 2.30 | 1.82 | Ice

Markets and data happen here

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FT 股票服务指南

所有数据均截至前一个工作日收盘。公司分类基于富时（FTSE）采用的 ICB 系统。富时 100 指数成分股以粗体显示。除非另有说明，收盘价以便士（pence）表示。最高价和最低价基于滚动 52 周期间的日内交易。市盈率（P / E）基于最新的年度报告和账目，并使用中期数据更新。市盈率使用公司持续经营的稀释收益计算。收益率基于收盘价以及上一财年支付的股息，并使用中期数据更新。收益率以净额显示；英国公司的股息扣除 10% 的税款，非英国公司则为税前总额。最高价、最低价、收益率和市盈率在适当情况下已根据资本变动进行调整。交易量为日终累计总量，四舍五入至最接近的 1,000 股。每股净资产价值（NAV）和拆分分析仅作为参考。折价和溢价使用最新的累积公允净资产价值预估值和收盘价计算。折价、溢价、总赎回收益率（GRY）以及相对于股价（SP）的门槛率（HR）和相对于清算（WO）的门槛率（HR）以百分比显示，NAV 以便士表示。

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📄 Original Section

Main Market | | Price | +/- Dly Chg | 52 Week | Vol000s | High | Low | Yld | P/E | Aerospace & Defence | BAE Systems■ | 1882.50 | 22.50 | 2360.00 | 1529.00 | 2.01 | 27.36 | 2973.19 | Chemring Group | 516.50 | 5.50 | 650.75 | 446.52 | 1.57 | 29.02 | 1068.63 | Automobiles & Parts | Ford Motors | 908.13 | -12.06 | 1319.04 | 841.76 | 5.00 | -5.04 | - | Banks | ANZ Group | 1996.84 | 35.97 | 2126.50 | 1753.25 | 5.74 | 19.47 | 2423.20 | Banco Santander | 1028.00 | 8.00 | 1122.00 | 709.00 | 1.68 | 13.37 | 615.62 | Bank of Nova Scotia▲ | 6679.74 | 3.89 | 7165.88 | 4739.97 | 3.62 | - | - | Barclays■ | 437.60 | 7.95 | 554.10 | 353.55 | 2.63 | 9.99 | 27707.58 | Canadian Imperial▲ | 8248.58 | 4.81 | 9198.88 | 5969.15 | 2.75 | - | - | HSBC■ | 1428.40 | 32.60 | 1610.00 | 959.29 | 3.90 | 15.61 | 14785.98 | Lion Finance Gp | 12720.00 | 340.00 | 14820.00 | 7320.00 | 2.49 | 8.67 | 89.76 | Lloyds Bnkg Gp■ | 104.00 | 2.40 | 117.90 | 81.82 | 3.86 | 14.86 | 93918.37 | NatWest Group | 653.60 | 11.00 | 726.00 | 504.41 | 5.35 | 12.22 | 8395.06 | OSB Group | 492.80 | 6.20 | 647.50 | 472.00 | 7.28 | 6.52 | 635.61 | Perm TSB Group | 253.56 | -0.41 | 291.66 | 182.42 | 0.61 | 6.61 | 0.01 | Royal Bank of CA | 14510.70 | 8.49 | 16187.03 | 10784.89 | 2.57 | - | - | Stand Chart | 2159.00 | 40.00 | 2364.00 | 1351.50 | 2.38 | 14.61 | 2746.48 | ...7.375%Pf | 106.75 | -0.75 | 128.84 | 102.00 | 6.91 | - | 112.31 | ...8.25%Pf | 118.60 | -0.15 | 143.80 | 114.25 | 6.96 | - | 42.33 | Toronto-Dominion● | 8702.27 | 5.07 | 9256.88 | 5880.62 | 2.68 | - | - | Westpack | 1824.07 | 45.68 | 2275.39 | 1755.74 | 4.45 | 17.24 | 3442.93 | Chemicals | Elementis | 182.00 | -0.20 | 195.40 | 136.00 | 1.83 | -30.85 | 1012.58 | Johnson Matthey | 2458.00 | -10.00 | 3245.25 | 2192.00 | 4.18 | -32.23 | 275.64 | Victrex | 926.00 | -16.00 | 1024.00 | 515.00 | 3.24 | 28.94 | 182.14 | Construction & Materials | Galliford Try Hldgs | 680.00 | -4.00 | 726.81 | 466.00 | 3.46 | 16.31 | 164.37 | Morgan Sindall | 4106.00 | 20.00 | 5730.00 | 3938.00 | 3.97 | 11.03 | 34.80 | Electronic & Electrical Equip | discoverGrp | 895.00 | 21.00 | 900.00 | 505.00 | 1.45 | 29.64 | 278.85 | Halma | 3540.00 | 12.00 | 4902.00 | 3268.00 | 0.70 | 35.91 | 806.02 | Morgan Adv Mat | 287.00 | -3.00 | 294.50 | 179.80 | 4.25 | 38.27 | 600.44 | Oxford Instruments | 2966.00 | 8.00 | 3318.00 | 1682.00 | 0.80 | 35.06 | 126.01 | Renishaw | 5710.00 | -25.00 | 6030.00 | 3280.00 | 1.44 | 34.92 | 172.90 | TT Electronics | 181.20 | 0.20 | 197.80 | 93.00 | - | -6.36 | 241.84 | XP Power | 1980.00 | 30.00 | 2160.00 | 849.23 | - | -47.14 | 44.54 | Financial General | 3i Group | 2398.00 | -4.00 | 4497.00 | 1825.00 | 3.52 | - | - | Aberdeen Group | 244.20 | 1.20 | 265.00 | 179.60 | 5.98 | 11.31 | 4350.87 | Bridgepoint Group | 412.00 | 10.20 | 415.80 | 212.00 | 2.38 | 82.40 | 1328.40 | City of London Inv | 520.00 | -2.00 | 540.00 | 349.00 | 6.54 | 14.09 | 57.18 | Close Bros | 385.40 | - | 556.15 | 318.40 | - | -6.75 | 230.47 | ICG | 1799.00 | -9.00 | 2194.00 | 1424.87 | 4.84 | 10.79 | 1959.44 | Investec | 594.50 | 1.50 | 690.00 | 499.36 | 6.48 | 7.71 | 670.38 | Jupiter | 173.40 | -0.20 | 214.50 | 137.20 | 3.46 | 9.03 | 741.11 | Liontrust | 298.50 | -3.00 | 358.00 | 223.00 | 6.37 | 19.38 | 121.99 | London Stock Exe | 8760.00 | 66.00 | 10140.00 | 6684.00 | 1.80 | 36.74 | 866.41 | Rathbones Group | 1566.00 | 26.00 | 2500.00 | 1490.00 | 6.39 | 14.51 | 58.77 | S & U | 1905.00 | 25.00 | 2458.50 | 1620.00 | 6.09 | 9.76 | 1.33 | St James's Place | 1042.50 | 5.00 | 1575.50 | 1011.50 | 1.73 | 10.44 | 837.21 | TP ICAP Group | 330.00 | 1.40 | 355.00 | 235.50 | 5.21 | 13.10 | 552.63 | Vanquis Banking Gp | 69.80 | 0.10 | 132.00 | 67.00 | - | 21.81 | 431.40 | | Price | +/- Dly Chg | 52 Week | Vol000s | High | Low | Yld | P/E | Aerospace & Defence | Cohort | 1276.00 | 68.00 | 1538.00 | 881.10 | 1.40 | 24.43 | 134.58 | Velocity Composites | 15.00 | -1.25 | 24.00 | 12.00 | — | -7.50 | 76.98 | Basic Resources (Ex Mining) | Cropper J | 685.00 | 5.00 | 710.00 | 250.00 | — | 22.24 | 8.41 | Construction & Materials | Accsys Tech | 54.00 | -1.40 | 79.84 | 54.00 | — | 23.93 | 85.26 | Electronic & Electrical Equip | Checkit | 16.25 | 0.25 | 27.00 | 12.35 | — | -6.25 | 10.38 | LPA | 82.00 | — | 92.00 | 34.00 | — | -31.06 | 0.00 | Thorpe FW | 256.00 | 6.00 | 320.00 | 240.00 | 2.87 | 10.79 | 54.70 | Financial General | Arbuthnot Banking | 795.00 | -5.00 | 940.00 | 755.00 | 6.92 | 7.29 | 7.94 | Investment Companies | | Price | +/- Dly Chg | 52 Week | Dist-) Prem | High | Low | Yld | NAV | Conventional (Ex Private Equity) | 3i Infra | 390.00 | 2.00 | 389.50 | 325.00 | 3.45 | 405.63 | -5.07 | Afl G ViIT | 91.50 | 0.50 | 96.77 | 76.00 | 6.67 | 103.96 | -10.88 | Afl Sml | 1834.00 | 8.00 | 1838.00 | 1408.07 | 2.61 | 2023.98 | -10.55 | Aberdeen Asia Foc | 467.00 | -3.00 | 478.00 | 348.00 | 1.38 | 516.87 | -9.25 | Aberdeen Asian Inc Fund | 320.00 | -1.00 | 357.00 | 246.00 | 5.87 | 346.34 | -7.07 | Aberdeen Eq Inc | 447.00 | -1.00 | 473.00 | 359.25 | 5.17 | 451.13 | -0.74 | Aberdeen UK Smll | 537.00 | 4.00 | 544.00 | 441.50 | 2.61 | 570.50 | -6.82 | Alliance Witan | 1408.00 | 5.00 | 1411.00 | 1178.00 | 2.08 | 1479.43 | -4.81 | Allianz Tech | 761.00 | -3.00 | 789.00 | 480.75 | — | 838.80 | -6.61 | Artemis UK Future Lead | 392.00 | 2.50 | 405.00 | 321.00 | 3.94 | 449.05 | -12.52 | Aurora UK Alpha | 248.00 | — | 279.00 | 222.09 | 1.90 | 281.07 | -11.22 | AV Japan | 179.00 | -0.50 | 194.00 | 154.50 | 1.23 | 185.68 | -3.77 | BG China Growth | 284.00 | -2.00 | 331.04 | 283.00 | 0.88 | 319.79 | -3.72 | BG Euro | 121.50 | — | 133.00 | 91.40 | 0.59 | 132.94 | -10.23 | BG Japan | 1076.00 | — | 1114.00 | 811.10 | 0.93 | 1198.05 | -10.95 | BG Shin | 178.80 | -0.20 | 182.00 | 123.05 | 0.39 | 199.21 | -11.55 | BG US Growth | 391.00 | 1.50 | 398.00 | 261.00 | — | 409.17 | -2.83 | Baillie Gifford UK | 220.00 | 2.00 | 231.00 | 180.12 | 2.82 | 241.29 | -9.57 | Bankers IT | 155.00 | -0.20 | 157.80 | 125.20 | 1.82 | 169.44 | -8.23 | Biotech Growth | 1406.00 | 6.00 | 1786.00 | 1050.00 | — | 1512.31 | -8.64 | BckR Amer Sml | 284.00 | 1.00 | 289.55 | 208.85 | 5.24 | 280.19 | 0.75 | BckR Energy & Res | 179.00 | 1.00 | 205.00 | 135.50 | 3.46 | 185.17 | -4.38 | BckR Front | 187.00 | -2.00 | 208.00 | 164.50 | 4.07 | 188.20 | -0.71 | BckR GTEur | 571.00 | -2.00 | 625.00 | 506.95 | 1.25 | 620.01 | -7.35 | BckR I&G | 234.00 | — | 240.00 | 208.00 | 3.29 | 254.26 | -5.13 | BckR Smrl | 268.00 | 2.50 | 288.40 | 230.80 | 2.96 | 308.62 | -14.03 | BckR World Mining | 942.00 | -6.00 | 1076.00 | 628.00 | 2.55 | 979.19 | -3.46 | Brunner | 1564.00 | 4.00 | 1612.00 | 1336.00 | 1.73 | 1738.03 | -10.05 | Caledonia Inv | 385.50 | -0.50 | 402.00 | 312.00 | 1.99 | 603.92 | -36.74 | CanGen C$ | 2703.06 | 1.57 | 2958.28 | 2358.19 | 2.43 | 88.07 | -41.89 | City of Lon | 576.00 | 5.00 | 599.00 | 498.00 | 3.90 | 560.76 | 1.57 | City Natural Res G&I | 410.00 | -3.00 | 467.00 | 258.01 | 6.90 | 400.23 | 4.23 | CT Healthcare | 121.20 | -0.80 | 152.40 | 118.80 | 4.34 | 128.37 | -4.96 | CT MgdI | 131.00 | — | 135.00 | 115.00 | 6.11 | 128.73 | 2.41 | CT MgdG | 328.00 | — | 330.00 | 280.26 | — | 337.25 | -2.62 | CT Cp&I | 342.00 | 3.00 | 373.00 | 320.00 | 3.93 | 355.53 | -4.49 | CT UK HIT B | 107.00 | — | 120.00 | 92.00 | 5.57 | 114.81 | -4.81 | CT UK HIT Ord | 105.50 | 1.00 | 126.00 | 97.00 | 5.65 | 114.29 | -5.88 | Dunedin Inc | 311.00 | 5.00 | 323.00 | 275.00 | 6.48 | 335.57 | -8.07 | Edinburgh Inv | 840.00 | 7.00 | 867.00 | 737.60 | 3.81 | 904.20 | -8.08 | Edin Worldwide | 280.00 | -0.50 | 294.50 | 194.20 | — | 302.78 | -6.50 | The Euro SmCo | 228.00 | 0.50 | 247.21 | 193.80 | 5.54 | 247.34 | -7.64 | F&C Inv Trust | 351.40 | 0.80 | 1332.00 | 325.80 | 1.20 | 382.22 | -8.48 | Fidelity Asian | 606.00 | -4.00 | 672.00 | 546.06 | 3.38 | 638.94 | -4.95 | Fidelity China | 242.50 | -3.00 | 331.50 | 239.50 | 3.71 | 265.84 | -6.60 | | Price | +/- Dly Chg | 52 Week | Vol000s | High | Low | Yld | P/E | Food & Beverages | AEP Plantations | 176.60 | -19.80 | 229.00 | 124.00 | 20.32 | 10.09 | 1522.04 | Assoc. Brit Foods | 1856.00 | 21.00 | 2359.00 | 1729.45 | 3.39 | 13.11 | 536.54 | Barr (AG)◆ | 555.00 | 3.00 | 715.32 | 538.00 | 3.44 | 13.13 | 170.59 | Fevara | 148.50 | 1.50 | 152.00 | 114.50 | 1.62 | 6.43 | 20.84 | Coca-Cola HBC | 4350.00 | 68.00 | 5195.00 | 3350.00 | 2.33 | 19.88 | 418.05 | Cranswick | 5140.00 | 155.00 | 5810.00 | 4775.00 | 2.19 | 17.37 | 154.14 | Diageo◆ | 1673.00 | 35.00 | 1903.91 | 1295.50 | 2.26 | 28.32 | 4187.52 | Greencore | 262.20 | 6.80 | 307.50 | 191.10 | 0.99 | 19.86 | 2008.33 | Kerry Group◆ | 7522.29 | 174.14 | 7646.35 | 5567.81 | 1.62 | 22.24 | 42.28 | Tate & Lyle | 561.00 | 2.00 | 580.00 | 319.40 | 3.53 | 25.50 | 1136.65 | Unilever◆ | 4738.00 | 64.50 | 5542.11 | 3644.00 | 3.48 | 12.95 | 3410.81 | GN Store Nord | 1209.25 | -12.24 | 1429.97 | 984.75 | — | 15.75 | 285.69 | Smith&Neph+ | 1038.00 | 17.50 | 1426.59 | 980.40 | 2.89 | 19.03 | 1888.59 | House, Leisure & Pers Goods | Barratt Redrow• | 291.40 | 1.00 | 410.29 | 235.40 | 2.06 | 21.43 | 7155.60 | Bellway | 1985.00 | 37.00 | 2890.00 | 1715.00 | 3.63 | 14.95 | 526.74 | Berkeley | 3210.00 | 40.00 | 4442.00 | 2796.00 | — | 9.68 | 117.79 | Burberry Group | 1044.00 | 19.50 | 1376.50 | 953.40 | — | — | 2770.82 | Cairn Homes• | 223.00 | 2.00 | 251.00 | 161.00 | 3.94 | 12.39 | 550.72 | Games Workshop | 16560.00 | 170.00 | 23540.00 | 14300.00 | 3.38 | 26.54 | 143.06 | Gleeson (MJ) | 270.00 | -2.00 | 435.00 | 221.00 | 1.85 | -81.33 | 58.40 | McBride | 177.00 | 0.80 | 214.10 | 107.60 | 1.75 | 10.00 | 83.15 | Philips | 1874.66 | 30.85 | 2413.42 | 1790.38 | 3.83 | -44.36 | 1546.01 | PZ Cussons | 96.40 | -0.10 | 114.00 | 65.09 | 3.84 | 20.51 | 267.73 | Vistry Group | 218.80 | — | 746.40 | 216.00 | — | 5.18 | 1129.75 | Industrial Engineering | Bodycote• | 911.00 | 0.50 | 967.50 | 585.00 | 2.56 | 29.39 | 2253.56 | Goodwin | 14060.00 | -160.00 | 28500.00 | 10820.00 | 2.35 | 19.04 | 8.64 | Hill & Smith | 3070.00 | 20.00 | 3345.00 | 1994.00 | — | 29.89 | 85.98 | IMI | 3110.00 | 18.00 | 3202.00 | 2244.00 | 1.14 | 25.02 | 200.00 | Melrose | 449.80 | 5.30 | 685.00 | 409.90 | 1.67 | 15.51 | 3028.47 | RHI | 2860.00 | -10.00 | 3390.00 | 1920.00 | 5.32 | 18.59 | 25.99 | Weir• | 2680.00 | 38.00 | 3580.00 | 2254.00 | 1.57 | 28.00 | 520.08 | Industrial General | Coats Group | 84.10 | -1.00 | 98.10 | 73.15 | 3.00 | 18.81 | 1310.24 | Macfarlane | 84.80 | -0.10 | 93.80 | 59.80 | 4.32 | 21.25 | 216.99 | Smiths | 2769.00 | 39.00 | 2885.00 | 2088.00 | 1.75 | 4.40 | 1707.22 | Industrial Transportation | Braemar | 245.00 | 8.00 | 249.00 | 203.11 | 2.86 | 33.84 | 300.97 | Fisher (J) | 437.00 | 11.00 | 554.00 | 358.00 | - | -50.23 | 23.70 | Insurance | Admiral Group | 3670.00 | 46.00 | 4128.00 | 2624.00 | 3.90 | 14.89 | 301.20 | Aviva+ | 687.40 | 10.40 | 740.60 | 590.60 | 5.85 | 25.55 | 7066.98 | Chesnara+ | 329.00 | 7.00 | 378.00 | 265.00 | 6.98 | -65.15 | 466.27 | Ecclesiastical Insurance | 130.25 | - | 155.00 | 125.50 | 6.62 | - | 104.80 | Hansard Global+ | 55.50 | 1.50 | 60.80 | 43.20 | 8.02 | 11.81 | 68.13 | Hiscox | 1865.00 | 18.00 | 1952.00 | 1288.00 | 2.10 | 13.64 | 2279.97 | Lancashire Hldgs | 667.00 | 20.50 | 689.00 | 549.00 | 2.52 | 7.29 | 619.22 | Legal & General | 290.80 | 3.80 | 318.10 | 217.20 | 7.53 | 29.11 | 13969.57 | Old Mutual+ | 61.00 | 0.80 | 78.80 | 55.40 | 7.12 | 6.77 | 680.55 | Prudential+ | 901.00 | 2.60 | 1238.00 | 867.40 | 2.33 | 7.72 | 7294.48 | Standard Life+ | 858.00 | 9.50 | 960.00 | 633.50 | 6.54 | -182.17 | 13035.15 | | 52 Week | Price +/- | Dly Dng | High | Low | Yld | P/E | Vol 000s | BP Marsh | 661.00 | 6.00 | 710.00 | 613.00 | 5.49 | 4.98 | 19.79 | Burlford Capital | 271.00 | 5.00 | 880.50 | 249.20 | 3.48 | 12.35 | 196.66 | Premier Miton Group | 34.75 | - | 62.00 | 34.50 | 8.63 | 44.55 | 282.36 | Food & Beverages | Camellia | 5725.00 | 125.00 | 6300.00 | 4800.00 | 4.54 | -30.66 | 0.18 | Fevertree Drinks● | 884.00 | 25.50 | 973.00 | 711.00 | 1.97 | 47.07 | 253.67 | Nichols | 1115.00 | 30.00 | 1200.00 | 880.00 | 3.49 | 19.00 | 40.96 | House, Leisure & Pers Goods | Churchill▲ | 360.00 | 5.00 | 460.00 | 271.00 | 5.83 | 9.07 | 19.95 | Frontier Dev | 633.00 | 28.00 | 640.00 | 302.00 | - | 8.49 | 223.98 | Portmeirion | 47.50 | - | 113.75 | 46.60 | - | -1.05 | 4.65 | Sanderson Design Grp | 76.00 | -1.00 | 80.00 | 40.00 | 1.97 | 25.50 | 265.31 | Industrial Engineering | 1545.00 5.00 1800.00 1120.00 1.68 22.92 6.46 | | Price | +/- Dly Chg | 52 Week | Yld | NAV | Dist(-)Prem | High | Low | Fidelity Emer Mkts | 1518.00 | -4.00 | 1574.00 | 897.34 | 1.64 | 1641.23 | -9.42 | Fidelity Euro | 413.50 | 0.50 | 447.50 | 367.50 | 2.47 | 434.94 | -5.36 | Fidelity Spec. | 467.00 | 3.50 | 479.50 | 384.77 | 2.21 | 465.07 | -0.05 | Finsbury G&I | 803.00 | 11.00 | 875.00 | 706.25 | 2.62 | 857.33 | -7.27 | The Gibl Small Co | 190.80 | 0.40 | 198.60 | 162.72 | 1.65 | 200.24 | -4.88 | GRI T(susp.) | 1.25 | — | 1.25 | 1.25 | — | 14.40 | -91.32 | Hansa | 332.00 | — | 346.00 | 250.00 | 1.33 | 556.26 | -40.90 | Hansa A | 332.50 | -1.50 | 340.00 | 244.00 | 1.32 | 556.26 | -40.01 | Hen FarEs | 267.50 | -1.00 | 281.50 | 229.00 | 9.36 | 255.15 | 5.50 | Hen High Inc | 202.50 | 2.50 | 214.00 | 173.25 | 5.49 | 210.18 | -4.90 | Hen Smir | 964.00 | 6.00 | 998.00 | 769.00 | 3.01 | 1061.10 | -9.52 | Herald | 2900.00 | -30.00 | 3290.73 | 2285.00 | — | 3442.79 | -13.65 | HICL Infra | 131.00 | 0.40 | 141.00 | 107.20 | 6.49 | 160.47 | -18.35 | Impax Env | 455.00 | 4.00 | 494.76 | 379.00 | 1.14 | 509.37 | -9.56 | IntiBiotech | 1065.00 | 15.00 | 1235.00 | 798.00 | 2.94 | 1080.96 | -2.89 | Intl PP | 135.80 | 0.40 | 145.80 | 115.60 | 6.47 | 153.78 | -12.19 | Inv Asia Dragon Tst | 495.00 | 2.00 | 520.00 | 385.00 | 3.88 | 537.68 | -7.60 | Inv Bond Inc | 167.50 | — | 178.50 | 150.11 | 7.31 | 165.42 | 1.41 | JPM Amer IT | 1258.00 | 8.00 | 1260.00 | 1041.00 | 0.91 | 1300.73 | -3.42 | JPM Asia G&I | 582.00 | 2.00 | 652.00 | 426.00 | 5.67 | 587.29 | -0.66 | JPM China G&I | 252.00 | 2.00 | 308.70 | 246.50 | 4.52 | 276.89 | -6.05 | JPM Clavr | 938.00 | 10.00 | 986.00 | 799.98 | 3.89 | 959.57 | -2.88 | JPM Emrg EMEA | 237.00 | 2.50 | 310.00 | 196.00 | 0.25 | 68.21 | 233.24 | JPM Emrg | 168.60 | -0.40 | 181.20 | 126.20 | 4.47 | 184.18 | -8.24 | JPM Eur Disc | 608.00 | 2.00 | 666.00 | 548.00 | 2.63 | 658.46 | -8.24 | JPM Eur G&I | 134.60 | -0.40 | 153.00 | 124.50 | 4.04 | 141.20 | -3.81 | JPM Em Mk Div | 213.00 | -1.00 | 223.00 | 155.50 | 2.82 | 234.01 | -8.01 | JPM Gbl G&I | 617.50 | 5.00 | 641.00 | 529.60 | 4.02 | 635.38 | -2.83 | JPM India Gwth Inc | 846.00 | 10.00 | 1098.00 | 799.00 | 5.01 | 915.01 | -10.27 | JPM Japan | 829.00 | -4.00 | 867.00 | 668.00 | 1.05 | 912.13 | -9.15 | JPM UK Sm | 351.00 | 1.00 | 369.00 | 287.92 | 4.25 | 379.15 | -6.84 | JPM US Smi | 419.00 | 3.00 | 463.00 | 365.00 | 0.76 | 459.98 | -10.22 | Law Deb | 1210.00 | 4.00 | 1290.00 | 991.00 | 3.02 | 1198.66 | 0.59 | Lindsell Train | 574.00 | -6.00 | 750.00 | 529.50 | 4.88 | 6.52 | -11.94 | Lowland | 185.75 | 1.25 | 191.50 | 148.00 | 3.70 | 200.86 | -8.59 | Marwyn Val | 141.00 | — | 141.90 | 141.02 | 6.43 | 264.28 | -46.64 | Mercantile | 274.50 | 2.00 | 290.50 | 234.31 | 3.02 | 302.58 | -10.27 | Merch. Trst | 660.00 | 4.00 | 691.00 | 536.25 | 4.53 | 687.53 | -4.35 | Mid Wynd | 810.00 | 5.00 | 814.00 | 682.00 | 1.06 | 825.35 | -2.61 | Monks IT | 1688.00 | 6.00 | 1696.00 | 1366.00 | 0.05 | 1774.32 | -4.65 | Montanaro Eur | 176.50 | — | 189.00 | 142.00 | 0.88 | 194.14 | -9.17 | Murray Inc | 972.00 | 6.00 | 1036.00 | 854.66 | 4.22 | 1032.50 | -6.70 | Murray Intl | 357.00 | 0.50 | 376.00 | 296.50 | 3.59 | 355.90 | -0.30 | New Star IT | 138.00 | — | 148.00 | 111.00 | 2.57 | 202.74 | -31.93 | N. Atl Smir IT | 416.00 | -2.00 | 434.00 | 328.00 | 1.68 | 649.99 | -35.69 | Pac. Horiz. | 1104.00 | -20.00 | 1262.00 | 719.00 | — | 1224.25 | -7.91 |
| | Price | +/- Dly Chg | 52 Week | Vol000s | High | Low | Yld | P/E | Leisure | ME Group | 112.00 | -0.80 | 195.94 | 98.50 | 7.49 | 7.47 | 1057.50 | Media | Autotrader Grp | 495.30 | 6.60 | 828.80 | 418.60 | 2.34 | 14.50 | 2219.75 | Informa | 874.00 | -21.60 | 1000.00 | 719.00 | 2.57 | -- | 5881.71 | ITV | 66.25 | -0.20 | 87.35 | 65.70 | 7.55 | 11.23 | 6210.02 | Pearson | 1304.00 | 19.00 | 1337.00 | 874.80 | 1.96 | 25.37 | 1169.21 | Reach | 47.00 | -0.50 | 73.70 | 39.00 | 12.55 | -1.12 | 599.26 | Relx■ | 2760.00 | 40.00 | 3539.00 | 1991.00 | 2.50 | 24.51 | 2355.07 | Rightmove● | 492.00 | 1.50 | 700.00 | 391.40 | 2.19 | 17.51 | 2817.28 | STV Group | 103.00 | 3.00 | 124.50 | 93.91 | -- | -9.54 | 188.11 | Mining | Milling | Angle American | 4184.00 | 14.00 | 4348.00 | 2639.00 | 0.69 | -16.72 | 1845.99 | Antofagasta | 3800.00 | 30.00 | 4475.00 | 2496.00 | 1.55 | 37.27 | 439.37 | BHP Group | 3282.00 | 21.00 | 3592.00 | 1971.00 | 3.88 | 22.41 | 663.63 | Ferrexpo | 31.00 | -0.92 | 87.23 | 25.22 | — | -1.08 | 723.06 | Fresnillo | 2756.00 | — | 4472.00 | 2000.00 | 4.06 | 19.40 | 270.42 | Glencore■ | 586.30 | 1.70 | 707.20 | 332.20 | 2.19 | — | 21509.61 | Harmony• | 1246.95 | -10.02 | 1963.66 | 946.96 | 4.69 | 11.79 | 2074.98 | Rio Tinto■ | 7144.00 | 18.00 | 9117.00 | 4970.50 | 4.88 | 15.39 | 1139.80 | BP■ | 588.00 | 1.70 | 609.40 | 399.35 | 4.27 | - | 28146.39 | Capricorn | 427.00 | -1.00 | 450.00 | 181.80 | - | 20.16 | 635.70 | ExxonMobil Hldgs | 13010.30 | - | 13048.90 | 12939.20 | 2.40 | - | - | GeoPark | 901.70 | - | 901.70 | 876.36 | 0.77 | 14.54 | - | Helleniq Energy | 1561.09 | - | 1561.09 | 1489.24 | 3.25 | 6.35 | 424.38 | Imperial Oil C$ | 9315.49 | 5.43 | 10397.16 | 6229.98 | 1.98 | - | - | TC Energy Corp♦ | 4541.67 | - | 4567.11 | 4513.05 | 4.10 | -24.02 | - | To advertise contact carol.ramsey@ft.com | AstraZeneca■ | 12026.00 | 28.00 | 15732.00 | 9892.00 | 1.99 | 24.09 | 1751.28 | Chemical Works | 2885.52 | - | 2885.52 | 2885.52 | 5.26 | 14.92 | 0.10 | GlaxoSmKline■ | 1771.00 | 21.00 | 2282.00 | 1592.00 | 3.95 | 12.55 | 3352.42 | Hikma Pharm | 1629.00 | 17.00 | 1865.00 | 1187.00 | 3.99 | 11.83 | 359.62 | REITS | British Land | 394.40 | 5.80 | 451.60 | 335.40 | 5.86 | - | - | Derwent London | 1784.00 | 21.00 | 2196.00 | 1469.33 | 4.60 | - | - | Great Portland Est | 305.40 | 2.20 | 377.00 | 270.00 | 2.69 | - | 0.00 | Land Securities | 611.50 | 7.50 | 726.00 | 525.00 | 6.74 | - | - | LondonMetric Prop | 174.00 | 1.80 | 216.20 | 170.20 | 7.21 | - | - | Primary Health Prop | 90.25 | 0.85 | 109.60 | 87.55 | 8.09 | - | - | Segro | 932.40 | 13.20 | 997.40 | 632.20 | 3.38 | - | - | Shaftesbury Capital | 137.80 | 2.50 | 155.10 | 124.10 | 3.12 | 7.37 | 1901.21 | Tritax Big Box | 141.00 | 1.30 | 175.00 | 138.50 | 5.85 | - | - | The Financial Times Share Service sections help you to reach and engage financially aware decision-makers and affluent shareholders from across the world in print and online. | Real Estate Inv & Services | 164.10 | 2.10 | 202.79 | 149.44 | 5.12 | - | - | Grainger | 187.00 | - | 195.00 | 116.80 | 0.98 | 64.48 | 3973.53 | Harworth Group◆ | 176.00 | -1.00 | 236.25 | 170.50 | 1.49 | 36.44 | 267.24 | Helical | 8725.00 | 25.00 | 10200.00 | 8350.00 | 6.02 | 16.71 | 0.10 | Mountview Estates | 997.00 | 24.00 | 1142.00 | 791.46 | 2.36 | 19.17 | 241.01 | Savills | 88.45 | 0.05 | 113.00 | 85.85 | 6.12 | 6.90 | 1381.70 | Sirius Real Estate | 115.00 | - | 140.00 | 106.00 | 2.83 | 8.80 | 0.02 | | 52 Week | Price | +/- Dly Chg | High | Low | Yld | P/E | Vol 000s | Media | Mission Group | 25.00 | - | 29.00 | 12.00 | - | -1.17 | 8.13 | Mining | Central Asia Metals● | 154.00 | 0.20 | 244.00 | 125.27 | 10.06 | -4.78 | 475.87 | Crism Therapeutics | 9.00 | - | 18.50 | 8.00 | - | -1.76 | 21.03 | Oil & Gas | BorSthrPet | 9.68 | 1.56 | 14.00 | 7.26 | - | -79.98 | 5736.93 | Pharmaceuticals & Biotech | Sareum Holdings# | 27.50 | - | 40.00 | 9.50 | - | -11.46 | - | Retailers | Boohoo Group | 24.25 | -0.25 | 29.50 | 10.30 | - | -3.13 | 651.13 | CVS Group | 1183.00 | 10.00 | 1648.00 | 1062.00 | 0.76 | 48.48 | 183.01 | CT PrivEq | 467.00 | -1.00 | 592.00 | 439.84 | 6.06 | 689.28 | -34.12 | HGCapital | 379.50 | 13.50 | 512.00 | 318.64 | 1.32 | 530.18 | -31.06 | HVPE | 3270.00 | 25.00 | 3500.00 | 2807.59 | — | 4518.00 | -29.06 | ICG Ent | 1386.00 | -4.00 | 1611.42 | 1288.31 | 3.03 | 2089.67 | -33.96 | Pantheon Int | 387.00 | 3.00 | 409.00 | 339.05 | — | 534.60 | -29.01 | Partners PE € | 573.05 | -7.69 | 945.52 | 569.45 | 10.32 | 11.53 | -39.72 | Conventional - Property ICs | | Price | +/- Dly Chg | 52 Week | Dist (-) Prem | High | Low | Yld | NAV | Pers. Assets | 548.00 | 3.00 | 558.00 | 515.00 | 1.02 | 551.25 | -1.26 | Polar Health | 433.50 | 4.50 | 460.50 | 352.11 | 0.51 | 426.91 | -0.10 | Polar Fin. | 235.00 | -2.00 | 260.50 | 199.16 | — | 247.58 | -3.75 | Polar Tech. | 693.00 | -9.00 | 743.50 | 420.00 | — | 772.60 | -8.33 | Rights & Iss IT | 2500.00 | -10.00 | 2520.00 | 1965.13 | 1.81 | 3045.75 | -17.47 | RIT Cap. | 2470.00 | -20.00 | 2645.00 | 1985.25 | 1.82 | 3198.50 | -23.40 | Ruffer Inv Pr | 290.00 | -0.50 | 319.00 | 281.26 | 2.13 | 302.09 | -3.32 | Schdr AsiaPac | 837.00 | -1.00 | 892.00 | 641.35 | 1.55 | 926.05 | -9.83 | Schdr AsiaTotal | 706.00 | -1.00 | 746.00 | 530.00 | 1.63 | 742.16 | -5.40 | Schroder Inc | 359.00 | 6.00 | 380.00 | 314.00 | 4.26 | 378.80 | -5.37 | Schdr Japan | 386.00 | -2.00 | 402.53 | 276.00 | 3.46 | 424.23 | -9.04 | Schdr Orient. | 452.50 | -0.50 | 478.00 | 317.00 | 2.92 | 475.05 | -4.97 | Schdr UK Mid | 756.00 | 2.00 | 790.00 | 652.00 | 2.99 | 805.01 | -5.54 | Scot American | 560.00 | 5.00 | 572.00 | 480.10 | 2.92 | 682.62 | -7.84 | Scot Mortgage | 1641.50 | 5.00 | 1652.50 | 1015.74 | 0.28 | 1810.88 | -8.06 | Scot Oriental | 283.00 | 2.00 | 295.00 | 240.00 | 1.20 | 305.85 | -9.72 | Strategic Eq. | 395.00 | -6.50 | 415.00 | 330.00 | 1.14 | 442.37 | -10.38 | Temple Bar | 416.50 | 3.50 | 429.50 | 345.25 | 3.75 | 413.01 | -0.32 | Tetragon | 1111.99 | 4.28 | 1476.82 | 892.96 | 3.20 | — | TRIG | 76.80 | 0.70 | 80.50 | 63.20 | 9.83 | 101.42 | -25.63 | UIL | 211.00 | — | 211.00 | 211.00 | 3.79 | 288.10 | -26.59 | Utrico EmerMkts | 300.00 | 4.00 | 305.00 | 243.00 | 3.23 | 328.96 | -9.61 | Worldwide Hlth | 369.50 | 1.50 | 401.50 | 322.52 | 0.65 | 395.90 | -7.90 | AEW UK REIT | 99.00 | 0.50 | 113.20 | 95.90 | 8.08 | 106.98 | -9.02 | TR Prop | 268.50 | -1.00 | 364.50 | 265.00 | 6.00 | 297.85 | -10.66 | VCTs | Bmd 2nd VT | 44.40 | — | 54.00 | 39.50 | 9.01 | 46.55 | -2.47 | Nthn 2 VCT | 53.00 | — | 56.50 | 47.00 | 5.66 | 55.40 | -4.33 | Nthn 3 VCT | 82.00 | — | 86.50 | 79.50 | 5.49 | 86.00 | -4.65 | Nthn Venture | 56.00 | — | 59.50 | 53.00 | 5.54 | 58.60 | -4.44 | Zero Dividend Preference Shares | Aberforth GV | 118.00 | — | 121.36 | 111.00 | — | 116.70 | 1.17 | Investment Companies - AIM | Crys Amber | 74.50 | — | 155.39 | 71.10 | — | 172.64 | -56.56 | | Price | +/- Dly Chg | 52 Week | Yld | P/E | Vol 000s | High | Low | Retailers | Caffyns | 500.00 | - | 550.00 | 350.00 | 2.00 | -12.29 | 0.61 | Dunelm Group | 803.50 | 4.00 | 1174.00 | 707.00 | 8.77 | 10.44 | 489.83 | Halfords Group | 259.50 | -2.50 | 276.10 | 123.80 | 3.47 | 17.07 | 382.43 | Inchcape | 680.00 | -6.50 | 885.00 | 627.87 | 4.94 | 9.38 | 959.37 | JD Sports | 85.70 | 1.20 | 101.95 | 63.98 | 1.48 | 9.93 | 12545.71 | Kingfisher+ | 319.10 | 1.10 | 372.30 | 266.40 | 3.89 | 22.79 | 6549.70 | Marks & Spencer | 401.80 | 4.80 | 418.33 | 301.10 | 1.05 | 31.64 | 7228.88 | Saga | 780.00 | 15.00 | 799.00 | 234.50 | - | - | 264.68 | Sainsbury J | 338.30 | 2.70 | 380.30 | 293.70 | 4.05 | 19.55 | 4581.46 | Tesco | 511.00 | 7.20 | 516.20 | 411.70 | 2.89 | 18.58 | 20163.24 | Support Services | Bunzl | 2730.00 | -8.00 | 2898.00 | 1981.00 | 2.74 | 19.36 | 931.67 | Capita | 250.00 | 15.00 | 416.00 | 196.20 | — | -1.73 | 1132.71 | DCC Energy | 6435.00 | 10.00 | 6740.00 | 4188.00 | 3.37 | — | 348.07 | Diploma | 7870.00 | 85.00 | 7980.00 | 4970.00 | 0.80 | 57.07 | 240.40 | Essentra♦ | 115.00 | — | 117.80 | 78.40 | 1.83 | — | 1230.50 | Experian♦ | 2698.00 | 16.00 | 3707.00 | 2203.00 | 1.92 | 21.68 | 1927.22 | Hays | 56.00 | -8.25 | 78.45 | 28.68 | 0.79 | -15.38 | 6616.39 | Howden Joinery | 767.50 | 5.00 | 981.00 | 713.00 | 2.87 | 15.80 | 821.35 | Intertek | 5895.00 | 5.00 | 5980.00 | 3519.42 | 2.80 | 27.03 | 321.33 | Johnson Service♦ | 138.40 | 0.50 | 172.10 | 123.80 | 3.61 | 14.88 | 715.92 | MITE Group | 210.60 | 0.20 | 214.00 | 135.20 | 2.14 | 31.91 | 2745.70 | RS Group | 793.00 | 1.00 | 798.00 | 536.90 | 2.89 | 22.92 | 1109.75 | Vp | 524.00 | 12.00 | 608.00 | 420.00 | 7.54 | -37.97 | 12.38 | Computacenter+ | 5800.00 | 50.00 | 6045.00 | 2578.00 | 1.39 | 38.23 | 371.68 | NCC Group | 153.60 | 2.00 | 161.60 | 107.20 | 3.03 | 27.43 | 788.69 | The Sage Group | 1084.50 | 13.00 | 1181.00 | 771.60 | 2.07 | 28.74 | 5999.73 | Trad Group | 380.00 | 430.00 | 236.00 | 2.37 | 38.31 | 1.50 | Telecommunications | Airtel Africa | 289.60 | -0.60 | 436.20 | 219.00 | 1.85 | 20.58 | 2349.77 | BT Group | 194.70 | 1.95 | 242.09 | 173.00 | 4.27 | 17.70 | 8200.14 | Telecom Plus | 855.00 | 3.00 | 1896.00 | 638.00 | 5.85 | 8.45 | 123.90 | Vodafone | 116.70 | -1.65 | 132.07 | 83.40 | 3.40 | -83.68 | 84065.04 | Tabasca | Brit Amer Tobacco■+ | 4194.00 | - | 5326.00 | 3677.00 | 5.84 | 11.95 | 2399.05 | Imperial Brands | 2664.00 | 2.00 | 3632.04 | 2408.00 | 6.26 | 10.61 | 2243.82 | Travel & Leisure | easyJet | 677.40 | -2.60 | 684.15 | 332.60 | 1.95 | 10.29 | 6995.33 | FirstGroup | 191.00 | 0.20 | 222.60 | 152.10 | 3.77 | 8.93 | 858.71 | Fullers 'A' | 726.00 | 10.00 | 780.00 | 572.00 | 2.92 | 18.51 | 11.77 | IntContl Hotels | 12016.30 | -9.71 | 13305.06 | 8762.00 | 1.17 | 32.36 | 277.15 | Intl Cons Air | 419.00 | 3.10 | 492.90 | 332.70 | 1.60 | 6.95 | 7636.74 | Whitbread | 2510.00 | 32.00 | 3278.00 | 2098.00 | 3.86 | 20.36 | 562.71 | Drax Group* | 792.50 | 7.00 | 937.50 | 695.50 | 3.82 | 38.28 | 367.47 | National Grid■ | 1164.50 | 17.50 | 1428.50 | 1086.25 | 4.16 | 17.78 | 5564.05 | Pennon | 323.00 | 0.05 | 548.21 | 307.57 | 9.07 | 18.40 | 3377.28 | Severn Trent | 3126.00 | 32.00 | 3335.00 | 2381.00 | 4.03 | 25.31 | 316.47 | SSE | 2477.00 | 23.00 | 2767.50 | 1794.50 | 2.77 | 23.48 | 1465.64 | | 52 Week | Price | +/- Dly Chg | High | Low | Yld | P/E | Vol 000s | Support Services | Christie● | 180.00 | - | 199.60 | 90.00 | 2.22 | 35.43 | 1.09 | LonSec | 3750.00 | - | 3900.00 | 2100.00 | 2.59 | 19.33 | - | NWF | 159.00 | 1.00 | 187.50 | 110.00 | 5.47 | 8.55 | 121.98 | Petards | 8.50 | - | 12.50 | 7.00 | - | -12.69 | 0.74 | Renew | 955.00 | 8.00 | 1016.00 | 821.00 | 2.13 | 15.49 | 77.66 | Tech - Software & Services | Oxford Metrics | 34.80 | 2.10 | 60.40 | 27.50 | 9.34 | -63.27 | 1085.55 | Travel & Leisure | Gaming Realms | 30.00 | -0.60 | 47.20 | 29.00 | – | 14.78 | 185.51 | Jet2♦ | 1404.00 | -3.00 | 1612.00 | 980.00 | 1.20 | 6.65 | 283.42 | ---

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Algebris 投资

| Algebris Core Italy I EUR | € | 241.75 | - | 2.69 | 0.00 | 26.10 | 18.59 | Algebris Core Italy R EUR | € | 222.98 | - | 2.48 | 0.00 | 25.17 | 17.71 | Algebris Financial Credit I EUR | € | 226.13 | - | 0.41 | 0.00 | 5.47 | 8.85 | Algebris Financial Credit I GBP | £ | 200.64 | - | 0.33 | 0.00 | 0.00 | 0.00 | Algebris Financial Credit I USD | $ | 209.24 | - | 0.36 | 5.86 | 0.00 | 0.00 | Algebris Financial Credit R EUR | € | 189.94 | - | 0.37 | 0.00 | 4.79 | 8.21 | Algebris Financial Equity B EUR | € | 371.30 | - | 0.76 | 0.00 | 0.00 | 0.00 | Algebris Financial Equity R EUR | € | 300.52 | - | 0.60 | 0.00 | 28.23 | 29.62 | Algebris Financial Equity Fund B GBP | £ | 310.91 | - | 0.59 | 0.00 | 0.00 | 0.00 | Algebris Financial Equity Fund B USD | $ | 469.13 | - | 0.93 | 3.90 | 0.00 | 0.00 | Algebris Financial Income I EUR | € | 296.53 | - | 0.51 | 0.00 | 15.66 | 17.95 | Algebris Financial Income R EUR | € | 260.67 | - | 0.44 | 0.00 | 14.63 | 16.90 | Algebris Financial Income Fund I GBP | £ | 218.24 | - | 0.35 | 6.02 | 0.00 | 0.00 | Algebris Financial Income Fund I USD | $ | 249.39 | - | 0.41 | 0.00 | 0.00 | 0.00 | Algebris Global Credit Opportunities I EUR | € | 152.57 | - | 0.07 | 0.00 | 2.83 | 5.54 | Algebris Global Credit Opportunities R EUR | € | 146.14 | - | 0.06 | 0.00 | 2.29 | 5.02 | Algebris Global Credit Opportunities I GBP | £ | 152.18 | - | 0.06 | 0.00 | 0.00 | 0.00 | Algebris Global Credit Opportunities I USD | $ | 157.06 | - | 0.06 | 0.00 | 0.00 | 0.00 | Algebris IG Financial Credit I EUR | € | 118.22 | - | 0.20 | 0.00 | 3.74 | 6.68 | Algebris IG Financial Credit R EUR | € | 114.18 | - | 0.19 | 0.00 | 3.22 | 6.15 | Algebris Strategic Credit Fund R EUR | € | 113.67 | - | 0.10 | 0.00 | 2.31 | 4.66 | Algebris Global Equity Select B EUR | € | 152.95 | - | 0.49 | 0.00 | 8.44 | 11.42 | Algebris Global Equity Select R EUR | € | 145.28 | - | 0.46 | 0.00 | 7.05 | 9.99 |

| Blue Whale 投资资金 ICAV (www.bluewhale.co.uk, info@bluewhale.co.uk) | (爱尔兰) | FCA 认可 - 爱尔兰 UCITS | Blue Whale Growth USD T | $ | 24.83 | - | 0.06 | 0.00 | 0.00 | 0.00 | CG Asset Management Limited | (IRL)< / > | 20 King Street, London EC2V 8EG交易电话：+353 1434 5098 传真：+353 1542 2859英国金融行为监管局（FCA）认可< / >< / > | CG Portfolio Fund PLC< / >< / > Absolute Return M Inc< / > £< / > 144.57< / > -< / > 0.00< / > 2.61< / > 2.94< / > 2.44< / >< / > Capital Gearing Portfolio GBP P< / > £< / > 39592.17< / > -< / > -7.32< / > 1.95< / > 2.88< / > 2.32< / >< / > Capital Gearing Portfolio GBP V< / > £< / > 192.59< / > -< / > -0.04< / > 1.94< / > 2.90< / > 2.32< / >< / > Dollar Fund Cis D Inc< / > £< / > 153.02< / > -< / > 0.00< / > 2.82< / > -1.11< / > -2.25< / >< / > Dollar Hedged GBP Inc< / > £< / > 92.72< / > -< / > 0.00< / > 2.54< / > 0.05< / > -0.58< / >< / > Real Return CIs A Inc< / > £< / > 183.19< / > -< / > 0.00< / > 2.55< / > -0.66< / > -2.18< / >< / > UK Index-Linked Bond G Inc< / > £< / > 105.38< / > -< / > 0.01< / > 2.10< / > 0.87< / > 0.00< / > |

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Canaccord WEALTH

Chartered Asset Management Pte Ltd

其他国际基金 | CAM-GTF VCC< / > $ 477779.20< / > 47779.20< / > 0.00< / > 0.49< / > 3.79< / >< / > CAM Gti VCC< / > $ 1755.82< / > -< / > 0.00< / > 20.88< / > 4.69< / >< / > RAIC VCC< / > $ 1.90< / > -< / > 0.00< / > 8.97< / > -1.66< / > | 授权投资基金< / >< / > EdenTree Global Impact Bond< / > 84.48< / > -< / > 0.05< / > 4.36< / > -1.59< / > -0.31< / >< / > EdenTree Green Impact Equity< / > 132.80< / > -< / > 0.20< / > 0.95< / > 7.42< / > 8.87< / >< / > EdenTree Green Impact Infrastructure< / > 76.12< / > -< / > 0.10< / > 6.91< / > -3.79< / > -6.95< / >< / > EdenTree Global Sustainable Government Bond< / > 94.74< / > -< / > 0.00< / > 3.23< / > 0.00< / >< / > EdenTree Sustainable European Equity A< / > 472.20< / > -< / > -0.90< / > 1.94< / > 10.36< / > 12.22< / >< / > EdenTree Sustainable European Equity B< / > 477.70< / > -< / > -0.80< / > 0.00< / > 10.37< / > 12.22< / >< / > EdenTree Sustainable Global Equity A< / > 460.30< / > -< / > 0.20< / > 0.53< / > 9.55< / > 9.50< / >< / > EdenTree Sustainable Global Equity B< / > 464.70< / > -< / > 0.30< / > 0.95< / > 9.53< / > 9.50< / >< / > EdenTree Sustainable Managed Income A< / > 135.40< / > -< / > 0.70< / > 4.25< / > 3.64< / > 3.44< / >< / > EdenTree Sustainable Managed Income B< / > 146.80< / > -< / > 0.70< / > 4.22< / > 4.09< / > 3.84< / >< / > EdenTree Sustainable Short Dated Bond< / > 94.53< / > -< / > 0.01< / > 4.66< / > -0.18< / > 0.67< / >< / > EdenTree Sustainable Sterling Bond A< / > 82.62< / > -< / > 0.03< / > 5.21< / > -1.59< / > -0.15< / >< / > EdenTree Sustainable Sterling Bond B< / > 95.44< / > -< / > 0.04< / > 5.21< / > -0.99< / > 0.45< / >< / > EdenTree Sustainable UK Equity A< / > 251.10< / > -< / > 1.40< / > 1.82< / > 5.24< / > 4.06< / >< / > EdenTree Sustainable UK Equity B< / > 250.50< / > -< / > 1.40< / > 2.20< / > 3.41< / > 4.03< / >< / > EdenTree Sustainable UK Equity Opp A< / > 322.60< / > -< / > 1.20< / > 1.52< / > 2.31< / > 5.29< / >< / > EdenTree Sustainable UK Equity Opp B< / > 329.40< / > -< / > 1.20< / > 1.98< / > 2.26< / > 5.25< / > | Canaccord Wealth International Multi Strategy Funds Limited< / >< / > Balanced Strategy< / > £< / > 1.19< / > -< / > 0.00< / > 11.58< / > 11.18< / >< / > Balanced Strategy A< / > £< / > 1.19< / > -< / > 0.00< / > 1.84< / > 8.55< / > 8.72< / >< / > Cautious Balanced Strategy< / > £< / > 1.48< / > -< / > 0.00< / > 0.91< / > 8.97< / > 8.95< / >< / > Cautious Balanced Strategy A< / > £< / > 1.06< / > -< / > 0.00< / > 1.84< / > 6.65< / > 7.13< / >< / > Growth Strategy< / > £< / > 2.70< / > -< / > 0.01< / > 0.76< / > 1.59< / > 5.65< / >< / > Growth Strategy A< / > £< / > 1.29< / > -< / > 0.00< / > 0.54< / > 10.44< / > 10.97< / >< / > High Growth Strategy 7 8

GBP | £< / > 3.99< / > -< / > 0.01< / > 0.24< / > 14.71< / > 14.86< / > | 高增长策略 A< / > £< / > 1.37< / > -< / > 0.01< / > 0.52< / > 12.47< / > 12.36< / >< / > 高收益债券基金 B 月度< / > £< / > 0.97< / > -< / > 0.00< / >< / > 高收益债券基金 B 季度< / > £< / > 0.98< / > -< / > 0.00< / >< / > 美元增长策略< / > $< / > 2.57< / > -< / > 0.01< / > 0.21< / > 14.41< / > 14.69< / > |

CP Global Asset Management Pte.Ltd.

每日交易。A 类初始费用为零，其他类最高为 $2\%$。

| 国际共同基金< / >< / > CP 多策略基金< / > $< / > 472.42< / > -< / > 0.23< / > 0.00< / > 12.01< / > |

CP Capital Asset Management Limited

| 国际共同基金< / >< / > CP 双用途基金< / > $< / > 221.14< / > -< / > -0.06< / > 0.00< / >< / > CP 全球 Alpha 基金< / > $< / > 515.60< / > -< / > -0.15< / > 0.00< / > 11.29< / >< / > CPS-Master 私募基金< / > $< / > 624.24< / > -< / > -0.02< / > 0.00< / > 11.18< / > |

Artemis 公司债券 I 累积< / > 117.17< / > -< / > 0.08< / > 0.00< / > 4.41< / > 5.85< / >< / > Artemis 全球收益 I 分配< / > 238.96< / > -< / > 0.50< / > 0.00< / > 2.17< / > 0.50< / >< / > Artemis 高收益 I 季度收益< / > 73.77< / > -< / > 0.00< / > 0.23< / > 1.31< / > 2.26< / >< / > Artemis 收益 I 收益< / > 348.92< / > -< / > 1.83< / > 5.48< / > 10.22< / > 10.94< / >< / > Artemis 月度分配 I 收益< / > 100.58< / > -< / > 0.19< / > 0.00< / > 12.30< / > 12.64< / >< / > Artemis 短期策略债券< / > 132.88< / > -< / > -0.02< / > 0.00< / > 5.70< / > 6.89< / >< / > Artemis SmartGARP 欧元股票 I 累积< / > 981.25< / > -< / > 3.71< / > 0.00< / > 24.45< / > 26.70< / >< / > Artemis SmartGARP 全球

小公司 I 累积< / > 264.19< / > -< / > -2.25< / > 1.95< / > 15.23< / > 14.95< / >< / > Artemis SmartGARP 全球新兴市场股票 I 累积< / > 356.00< / > -< / > -2.70< / > 0.00< / > 32.68< / > 27.08< / >< / > Artemis SmartGARP 全球股票 I 累积< / > 832.23< / > -< / > -0.39< / > 0.00< / > 29.17< / > 27.09< / >< / > Artemis SmartGARP 英国股票 I 累积< / > 4740.57< / > -< / > 42.99< / > 2.41< / > 25.14< / > 23.49< / >< / > Artemis 战略资产 I 累积< / > 111.40< / > -< / > 0.15< / > 0.00< / > 3.80< / > 3.36< / >< / > Artemis 战略债券 I 季度累积< / > 123.83< / > -< / > 0.00< / > 4.46< / > 5.57< / > 6.25< / >< / > Artemis 英国精选基金 I 类累积< / > 1434.64< / > -< / > 9.09< / > 0.00< / > 7.75< / > 18.96< / >< / > Artemis 英国小型

公司 I 累积< / > 2664.01< / > -< / > 2.90< / > 1.81< / > 4.97< / > 9.34< / >< / > Artemis 英国特殊情境 I 累积< / > 1210.53< / > -< / > 7.66< / > 0.00< / > 11.70< / > 14.09< / >< / > Artemis 美国扩展 Alpha I 累积< / > 604.39< / > -< / > 1.76< / > 0.00< / > 15.83< / > 18.72< / >< / > Artemis 美国精选 I 累积< / > 593.67< / > -< / > 1.58< / > 0.00< / > 21.00< / > 21.92< / >< / > Artemis 美国小型公司 I 累积< / > 524.02< / > -< / > 2.96< / > 0.00< / > 20.33< / > 19.53< / > |

ASB Capital | Gate Village 5, Level 4, Unit 11, DIFC,Dubai United Arab Emirateswww.asbc.com< / >< / > ASB SUKUK - ACC< / > $ 102.10< / > -< / > 0.18< / > 0.00< / >< / > ASB SUKUK - DIST< / > $ 94.24< / > -< / > 0.16< / > 0.50< / > 0.00< / >< / > ASB State Street Global Equity< / > $ 125.52< / > -< / > 0.41< / > 0.00< / >< / > ASB Global Technology< / > $ 166.10< / > -< / > -1.61< / > 0.00< / >< / > ASB MENA Equity< / > $ 97.57< / > -< / > -0.68< / > 0.00< / > | 其他国际基金< / >< / > American Dynamic< / > $ 9087.20< / > -< / > 0.00< / >< / > American One< / > $ 11100.38< / > -< / > 0.00< / > 12.41< / > 14.22< / >< / > Bond Global< / > € 1646.01< / > -< / > 0.00< / > 0.73< / > 6.90< / >< / > Eurocroissance< / > € 1311.23< / > -< / > 0.00< / >< / > Far East< / > $ 1267.36< / > -< / > 0.00< / > |

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📄 Original Section

$\alpha$ lgebris INVESTMENTS

| Blue Whale Investment Funds ICAVwww.bluewhale.co.uk info@bluewhale.co.uk | (IRE) | FCA Recognised-Ireland UCITS | Blue Whale Growth USD T | $ | 24.83 | - | 0.06 | 0.00 | 0.00 | 0.00 | CG Asset Management Limited | (IRL) | 20 King Street, London EC2V 8EGDealing: Tel +353 1434 5098 Fax +353 1542 2859FCA Recognised | CG Portfolio Fund PLC | Absolute Return M Inc | £ | 144.57 | - | 0.00 | 2.61 | 2.94 | 2.44 | Capital Gearing Portfolio GBP P | £ | 39592.17 | - | -7.32 | 1.95 | 2.88 | 2.32 | Capital Gearing Portfolio GBP V | £ | 192.59 | - | -0.04 | 1.94 | 2.90 | 2.32 | Dollar Fund Cis D Inc | £ | 153.02 | - | 0.00 | 2.82 | -1.11 | -2.25 | Dollar Hedged GBP Inc | £ | 92.72 | - | 0.00 | 2.54 | 0.05 | -0.58 | Real Return CIs A Inc | £ | 183.19 | - | 0.00 | 2.55 | -0.66 | -2.18 | UK Index-Linked Bond G Inc | £ | 105.38 | - | 0.01 | 2.10 | 0.87 | 0.00 | ---

ASB Capital

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📄 Original Section

Canaccord WEALTH

Chartered Asset Management Pte Ltd | Other International Funds | CAM-GTF VCC | $ 477779.20 | 47779.20 | 0.00 | 0.00 | 0.49 | 3.79 | CAM Gti VCC | $ 1755.82 | - | 0.00 | 0.00 | 20.88 | 4.69 | RAIC VCC | $ 1.90 | - | 0.00 | 0.00 | 8.97 | -1.66 | Authorised Inv Funds | EdenTree Global Impact Bond | 84.48 | - | 0.05 | 4.36 | -1.59 | -0.31 | EdenTree Green Impact Equity | 132.80 | - | 0.20 | 0.95 | 7.42 | 8.87 | EdenTree Green Impact Infrastructure | 76.12 | - | 0.10 | 6.91 | -3.79 | -6.95 | EdenTree Global Sustainable Government Bond | 94.74 | - | 0.00 | 3.23 | 0.00 | 0.00 | EdenTree Sustainable European Equity A | 472.20 | - | -0.90 | 1.94 | 10.36 | 12.22 | EdenTree Sustainable European Equity B | 477.70 | - | -0.80 | 0.00 | 10.37 | 12.22 | EdenTree Sustainable Global Equity A | 460.30 | - | 0.20 | 0.53 | 9.55 | 9.50 | EdenTree Sustainable Global Equity B | 464.70 | - | 0.30 | 0.95 | 9.53 | 9.50 | EdenTree Sustainable Managed Income A | 135.40 | - | 0.70 | 4.25 | 3.64 | 3.44 | EdenTree Sustainable Managed Income B | 146.80 | - | 0.70 | 4.22 | 4.09 | 3.84 | EdenTree Sustainable Short Dated Bond | 94.53 | - | 0.01 | 4.66 | -0.18 | 0.67 | EdenTree Sustainable Sterling Bond A | 82.62 | - | 0.03 | 5.21 | -1.59 | -0.15 | EdenTree Sustainable Sterling Bond B | 95.44 | - | 0.04 | 5.21 | -0.99 | 0.45 | EdenTree Sustainable UK Equity A | 251.10 | - | 1.40 | 1.82 | 5.24 | 4.06 | EdenTree Sustainable UK Equity B | 250.50 | - | 1.40 | 2.20 | 3.41 | 4.03 | EdenTree Sustainable UK Equity Opp A | 322.60 | - | 1.20 | 1.52 | 2.31 | 5.29 | EdenTree Sustainable UK Equity Opp B | 329.40 | - | 1.20 | 1.98 | 2.26 | 5.25 | Canaccord Wealth International Multi Strategy Funds Limited | Balanced Strategy | £ | 1.19 | - | 0.00 | 0.00 | 11.58 | 11.18 | Balanced Strategy A | £ | 1.19 | - | 0.00 | 1.84 | 8.55 | 8.72 | Cautious Balanced Strategy | £ | 1.48 | - | 0.00 | 0.91 | 8.97 | 8.95 | Cautious Balanced Strategy A | £ | 1.06 | - | 0.00 | 1.84 | 6.65 | 7.13 | Growth Strategy | £ | 2.70 | - | 0.01 | 0.76 | 1.59 | 5.65 | Growth Strategy A | £ | 1.29 | - | 0.00 | 0.54 | 10.44 | 10.97 | High Growth Strategy GBP | £ | 3.99 | - | 0.01 | 0.24 | 14.71 | 14.86 | High Growth Strategy A | £ | 1.37 | - | 0.01 | 0.52 | 12.47 | 12.36 | High Income Bond Fund B Monthly | £ | 0.97 | - | 0.00 | 0.00 | 0.00 | 0.00 | High Income Bond Fund B Quarterly | £ | 0.98 | - | 0.00 | 0.00 | 0.00 | 0.00 | US$ Growth Strategy | $ | 2.57 | - | 0.01 | 0.21 | 14.41 | 14.69 | CP Global Asset Management Pte.Ltd.

Dealing Daily. Initial Charge Nil for A classes and up to $2\%$ for other classes. | International Mutual Funds | CP Multi-Strategy Fund | $ | 472.42 | - | 0.23 | 0.00 | 12.01 | CP Capital Asset Management Limited

| International Mutual Funds | CP Dual-Purpose Fund | $ | 221.14 | - | -0.06 | 0.00 | 0.00 | CP Global Alpha Fund | $ | 515.60 | - | -0.15 | 0.00 | 11.29 | CPS-Master Private Fund | $ | 624.24 | - | -0.02 | 0.00 | 11.18 |

| Artemis Corporate Bond I Acc | 117.17 | - | 0.08 | 0.00 | 4.41 | 5.85 | Artemis Global Income I Dis | 238.96 | - | 0.50 | 0.00 | 2.17 | 0.50 | Artemis High Income I Q Inc | 73.77 | - | 0.00 | 0.23 | 1.31 | 2.26 | Artemis Income I Inc | 348.92 | - | 1.83 | 5.48 | 10.22 | 10.94 | Artemis Monthly Dist I Inc | 100.58 | - | 0.19 | 0.00 | 12.30 | 12.64 | Artemis Short-Dn Strat Bond | 132.88 | - | -0.02 | 0.00 | 5.70 | 6.89 | Artemis SmartGARP Eur Eq I Acc | 981.25 | - | 3.71 | 0.00 | 24.45 | 26.70 | Artemis SmartGARP Global Small Co I Acc | 264.19 | - | -2.25 | 1.95 | 15.23 | 14.95 | Artemis SmartGARP GloEmr Eq I Acc | 356.00 | - | -2.70 | 0.00 | 32.68 | 27.08 | Artemis SmartGARP Glo Eq I Acc | 832.23 | - | -0.39 | 0.00 | 29.17 | 27.09 | Artemis SmartGARP UK Eq I Acc | 4740.57 | - | 42.99 | 2.41 | 25.14 | 23.49 | Artemis Strategic Assets I Acc | 111.40 | - | 0.15 | 0.00 | 3.80 | 3.36 | Artemis Strategic Bond I Q Acc | 123.83 | - | 0.00 | 4.46 | 5.57 | 6.25 | Artemis UK Select Fund Class I Acc | 1434.64 | - | 9.09 | 0.00 | 7.75 | 18.96 | Artemis UK Smaller Cos I Acc | 2664.01 | - | 2.90 | 1.81 | 4.97 | 9.34 | Artemis UK Special Sits I Acc | 1210.53 | - | 7.66 | 0.00 | 11.70 | 14.09 | Artemis US Extended Alpha I Acc | 604.39 | - | 1.76 | 0.00 | 15.83 | 18.72 | Artemis US Select I Acc | 593.67 | - | 1.58 | 0.00 | 21.00 | 21.92 | Artemis US Smir Cos I Acc | 524.02 | - | 2.96 | 0.00 | 20.33 | 19.53 | ASB Capital | Gate Village 5, Level 4, Unit 11, DIFC,Dubai United Arab Emirateswww.asbc.com | ASB SUKUK - ACC | $ 102.10 | - | 0.18 | 0.00 | 0.00 | 0.00 | ASB SUKUK - DIST | $ 94.24 | - | 0.16 | 0.50 | 0.00 | 0.00 | ASB State Street Global Equity | $ 125.52 | - | 0.41 | 0.00 | 0.00 | 0.00 | ASB Global Technology | $ 166.10 | - | -1.61 | 0.00 | 0.00 | 0.00 | ASB MENA Equity | $ 97.57 | - | -0.68 | 0.00 | 0.00 | 0.00 | Other International Funds | American Dynamic | $ 9087.20 | - | 0.00 | 0.00 | 0.00 | 0.00 | American One | $ 11100.38 | - | 0.00 | 0.00 | 12.41 | 14.22 | Bond Global | € 1646.01 | - | 0.00 | 0.00 | 0.73 | 6.90 | Eurocroissance | € 1311.23 | - | 0.00 | 0.00 | 0.00 | 0.00 | Far East | $ 1267.36 | - | 0.00 | 0.00 | 0.00 | 0.00 | ---

CANDRIAM

Candriam投资者集团 | (卢森堡)< / > | FCA认可< / >< / > Candriam绝对收益股票市场中性-C累积< / > €< / > 225.61< / > -< / > -0.30< / > 0.00< / > 1.21< / > 2.87< / >< / > Candriam欧元高收益债券累积< / > €< / > 1424.64< / > -< / > 2.59< / > 0.00< / > 3.90< / > 5.97< / >< / > Candriam全球高收益债券-C累积< / > €< / > 284.00< / > -< / > 0.19< / > 0.00< / > 3.59< / > 5.71< / >< / > Candriam全球通胀挂钩短期债券-I-累积< / > €< / > 164.36< / > -< / > -0.12< / > 0.00< / > 2.37< / > 3.01< / >< / > Candriam债券总回报-C-累积< / > €< / > 143.10< / > -< / > 0.06< / > 0.00< / > 1.73< / > 2.84< / >< / > Candriam多元化期货-I-累积< / > €< / > 14310.33< / > -< / > 7.20< / > 0.00< / > 1.43< / > -1.29< / >< / > Candriam澳大利亚股票累积 A$< / > A$< / > 2349.31< / > -< / > 15.82< / > 0.00< / > 7.81< / > 8.34< / >< / > Candriam新兴市场股票累积< / > €< / > 1576.72< / > -< / > -7.43< / > 0.00< / > 27.77< / > 21.76< / >< / > Candriam生物技术股票-C-累积< / > €< / > 1314.46< / > -< / > 35.73< / > 0.00< / > 23.20< / > 23.33< / >< / > Candriam欧洲创新股票-R-累积< / > €< / > 258.47< / > -< / > 4.67< / > 0.00< / > -3.37< / > 1.14< / >< / > Candriam指数套利-C-累积< / > €< / > 1537.23< / > -< / > -0.24< / > 0.00< / > 1.16< / > 2.25< / >< / > Candriam信用多空-R-累积< / > €< / > 120.52< / > -< / > 0.00< / > 2.99< / > 3.84< / >< / > Candriam风险套利-C-累积< / > €< / > 2776.01< / > -< / > 2.00< / > 0.00< / > 2.97< / > 3.77< / >< / > Candriam新兴市场可持续债券 I 分红< / > €< / > 752.44< / > -< / > 2.73< / > 0.00< / > 4.48< / > 3.35< / >< / > Candriam欧元公司可持续债券 R 累积< / > €< / > 110.15< / > -< / > 0.15< / > 0.00< / > 2.50< / > 4.27< / >< / > Candriam全球高收益可持续-I-累积< / > €< / > 1237.30< / > -< / > 0.69< / > 0.00< / > 2.98< / > 4.78< / >< / > Candriam循环经济股票-R-累积< / > €< / > 159.61< / > -< / > 1.00< / > 0.00< / > 4.22< / > 6.18< / >< / > Candriam气候行动股票-I-累积< / > €< / > 2151.84< / > -< / > 20.02< / > 0.00< / > 12.27< / > 11.32< / >< / > Candriam新兴市场可持续股票 C-累积< / > €< / > 192.54< / > -< / > -0.69< / > 0.00< / > 25.10< / > 18.21< / >< / > Candriam欧元区可持续股票-C-累积< / > €< / > 214.63< / > -< / > 1.32< / > 0.00< / > 8.17< / > 9.57< / >< / > Candriam欧洲中大型可持续股票-I-累积< / > €< / > 2416.14< / > -< / > 32.93< / > 0.00< / > 0.38< / > 1.86< / >< / > Candriam全球可持续股票-C-累积< / > €< / > 48.09< / > -< / > 0.32< / > 0.00< / > 12.07< / > 14.27< / >< / > NYLIM GF 美国高收益公司债券-R-累积< / > €< / > 171.97< / > -< / > 0.20< / > 0.00< / > 5.36< / > 7.10< / > |

Candriam投资者集团

其他国际基金 | Candriam Bds Euro Sh.Term Cap< / > €< / > 2179.58< / > -< / > 0.48< / > 0.00< / > 2.08< / >< / > Candriam Bonds Credit Opportunities< / > €< / > 220.80< / > -< / > 0.07< / > 0.00< / > 2.61< / >< / > Candriam Bonds Emerg Mkt-C-Cap< / > $< / > 2998.04< / > -< / > 8.91< / > 0.00< / > 6.44< / >< / > Candriam Equities L Eurp Opt Olt -I-Cap< / > €< / > 250.77< / > -< / > 3.18< / > 0.00< / > 7.61< / >< / > Candriam Equities L Global Demg R Cap< / > €< / > 404.48< / > -< / > 2.96< / > 0.00< / > 10.31< / >< / > Candriam Equities Onco impt-I-Cap< / > $< / > 3529.93< / > -< / > 49.94< / > 0.00< / > 7.99< / >< / > Candriam Equities L Robt&InnTech I Cap< / > $< / > 8301.06< / > -< / > 94.33< / > 0.00< / > 32.27< / > | Cantab Asset Management Ltd(UK) 01223 522000 www.cantabam.com< / >< / > | 英国金融行为监管局（FCA）认可< / >< / > VT Cantab Balanced A GBP Acc< / > 142.07< / > -< / > 0.00< / > 1.80< / > 9.87< / > 9.28< / >< / > VT Cantab Moderate A GBP Acc< / > 139.49< / > -< / > 0.00< / > 2.12< / > 9.08< / > 8.08< / >< / > VT Cantab Sustainable Gbl Eq A GBP Acc< / > 169.71< / > -< / > 0.00< / > 1.37< / > 8.72< / > 9.01< / > |

Dodge & Cox®

全球基金

Dodge & Cox Worldwide Funds< / > (IRL)< / >< / > 48-49 Pall Mall, London SW1Y 5JG< / > < / >< / > www.dodgeandcox.com +44 0203 642 3370< / > < / >< / > 英国金融行为监管局（FCA）认可< / > < / > | Dodge & Cox Worldwide Funds-新兴市场股票基金< / >< / > Emerging Markets Stock Fund A USD Acc< / > $< / > 16.26< / > -< / > 0.12< / > 0.00< / > 26.04< / > 23.91< / >< / > Emerging Markets Stock Fund A GBP Acc< / > £< / > 17.37< / > -< / > 0.12< / > 0.00< / > 23.99< / > 21.56< / >< / > Emerging Markets Stock Fund D GBP Dis< / > £< / > 15.64< / > -< / > 0.10< / > 1.69< / > 21.34< / > 18.98< / >< / > Emerging Markets Stock Fund A EUR Acc< / > €< / > 17.64< / > -< / > 0.16< / > 1.51< / > 24.25< / > 22.37< / > | Dodge & Cox Worldwide Funds-全球债券基金< / >< / > EUR Accumulating Class< / > €< / > 18.49< / > -< / > 0.03< / > 0.00< / > 3.55< / > 4.26< / >< / > EUR Accumulating Class (H)< / > €< / > 11.93< / > -< / > 0.00< / > 3.03< / > 3.61< / >< / > EUR Distributing Class< / > €< / > 11.26< / > -< / > 0.02< / > 0.00< / > -1.40< / > -0.63< / >< / > EUR Distributing Class (H)< / > €< / > 7.21< / > -< / > 0.01< / > 5.05< / > -1.93< / > -1.24< / >< / > GBP Distributing Class< / > £< / > 11.67< / > -< / > -0.01< / > 4.75< / > -1.66< / > -1.36< / >< / > GBP Distributing Class (H)< / > £< / > 8.18< / > -< / > 0.00< / > 4.70< / > -0.10< / > 0.29< / >< / > USD Accumulating Class< / > $< / > 14.95< / > -< / > 0.01< / > 0.00< / > 5.05< / > 5.62< / >< / > CHF Distributing Class (H)< / > Sfr< / > 7.33< / > -< / > 0.00< / > -4.30< / > -3.73< / > |

[...OMITTED...]

Dodge & Cox 全球基金-全球股票基金 | 美元累积份额类< / > $< / > 48.77< / > -< / > 0.61< / > 0.00< / > 14.00< / >< / > 英镑累积份额类< / > £< / > 60.58< / > -< / > 0.71< / > 0.00< / > 12.12< / >< / > 英镑分配份额类< / > £< / > 38.73< / > -< / > 0.46< / > 0.00< / > 9.48< / >< / > 欧元累积份额类< / > €< / > 65.39< / > -< / > 0.89< / > 0.00< / > 12.71< / >< / > 英镑分配份额类 (H)< / > £< / > 20.95< / > -< / > 0.26< / > 0.00< / > 11.96< / >< / > 美元分配类< / > $< / > 19.92< / > -< / > 0.25< / > 0.00< / > 12.46< / >< / > 加元累积类< / > C$< / > 65.65< / > -< / > 1.03< / > 0.00< / > 16.04< / > | Dodge & Cox 全球基金-美国股票基金< / >< / > 美元累积份额类< / > $< / > 58.92< / > -< / > 0.45< / > 0.00< / > 11.33< / > 14.42< / >< / > 英镑累积份额类< / > £< / > 69.22< / > -< / > 0.48< / > 0.00< / > 9.50< / > 12.23< / >< / > 英镑分配份额类< / > £< / > 40.27< / > -< / > 0.28< / > 0.00< / > 8.65< / > 11.32< / >< / > 欧元累积份额类< / > €< / > 68.21< / > -< / > 0.60< / > 0.00< / > 8.37< / > 12.17< / >< / > 英镑分配份额类 (H)< / > £< / > 22.23< / > -< / > 0.17< / > 0.00< / > 9.96< / > 12.96< / >< / > 美元分配类< / > $< / > 21.56< / > -< / > 0.17< / > 0.00< / > 10.49< / > 13.49< / > |

授权公司董事-Waystone Management (UK) Limited

Royal London< / > (英国)< / >< / > 80 Fenchurch Street, London EC3M 4BY< / > < / > | Nutshell Asset Management Ltd< / > (爱尔兰)< / >< / > | Nutshell Asset Management Ltd, Ivybridge House, 1-5 Adam Street, London WC2N 6LEwww.nutshellam.com< / >< / > | 授权投资资金< / >< / > Nutshell Growth Fund Gbp Inst Founder< / > £< / > 193.71< / > -< / > 1.48< / > 0.00< / > 16.09< / > 17.27< / > |

买入价卖出价 + / - 收益率 24个月 36个月基金

Fundsmith LLP (1200)F

PO Box 10846, Chelmsford Essex CM99 2BW 0330 123 1815

www.fundsmith.co.uk, enquiries@.co.uk

| 授权投资资金< / >< / > Equity T Acc< / > 724.59< / > -< / > 5.68< / > 0.00< / > 0.74< / > 4.20< / >< / > Equity T Inc< / > 653.98< / > -< / > 5.12< / > 0.00< / > 14.96< / > 14.10< / > |

买入价卖出价 + / - 收益率 24个月 36个月

Guinness Global Equity Income Y GBP Dis< / > £< / > 24.97< / > -< / > 0.24< / > 2.05< / > 8.79< / > 11.42< / >< / > Guinness Global Innovators Y GBP ACC< / > £< / > 49.46< / > -< / > 0.38< / > 0.00< / > 13.54< / > 16.82< / >< / > Guinness Global Quality Mid Cap Y Gbp Acc< / > £< / > 16.41< / > -< / > 0.14< / > 0.00< / > 12.84< / > 11.98< / > |

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HPB Assurance Ltd

国际保险 | Holiday Property Bond Ser 1< / > £< / > 0.49< / > -< / > 0.00< / > -0.28< / > -0.32< / >< / > Holiday Property Bond Ser 2< / > £< / > 0.66< / > -< / > 0.00< / > 1.43< / > 1.18< / > |

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📄 Original Section

CANDRIAM | Candriam Investors Group | (LUX) | FCA Recognised | Candriam Abs Ret Eqt Mkt Neutral-C Cap | € | 225.61 | - | -0.30 | 0.00 | 1.21 | 2.87 | Candriam Bds Euro High Yield Cap | € | 1424.64 | - | 2.59 | 0.00 | 3.90 | 5.97 | Candriam Bonds Gbl Hi Yield -C Cap | € | 284.00 | - | 0.19 | 0.00 | 3.59 | 5.71 | Candriam Bonds Glbl Infl Sh Dton-I-Cap | € | 164.36 | - | -0.12 | 0.00 | 2.37 | 3.01 | Candriam Bonds Total Return-C-Cap | € | 143.10 | - | 0.06 | 0.00 | 1.73 | 2.84 | Candriam Diversified Futures-I-Cap | € | 14310.33 | - | 7.20 | 0.00 | 1.43 | -1.29 | Candriam Eqts L Australia Cap A$ | A$ | 2349.31 | - | 15.82 | 0.00 | 7.81 | 8.34 | Candriam Eqts L Emerging Mkts Cap | € | 1576.72 | - | -7.43 | 0.00 | 27.77 | 21.76 | Candriam Equities L Biotech-C-Cap | € | 1314.46 | - | 35.73 | 0.00 | 23.20 | 23.33 | Candriam Equities L Europe Innov-R-Cap | € | 258.47 | - | 4.67 | 0.00 | -3.37 | 1.14 | Candriam Index Arbitrage -C-Cap | € | 1537.23 | - | -0.24 | 0.00 | 1.16 | 2.25 | Candriam Long Short Credit R-Cap | € | 120.52 | - | 0.00 | 0.00 | 2.99 | 3.84 | Candriam Risk Arbitrage-C-Cap | € | 2776.01 | - | 2.00 | 0.00 | 2.97 | 3.77 | Candriam Sust Bond Emerg Mkts I Dist | € | 752.44 | - | 2.73 | 0.00 | 4.48 | 3.35 | Candriam Sust Bond Euro Corp R Cap | € | 110.15 | - | 0.15 | 0.00 | 2.50 | 4.27 | Candriam Sust GlbHighYield-I-Cap | € | 1237.30 | - | 0.69 | 0.00 | 2.98 | 4.78 | Candriam Eq Crl Econ-R-Cap | € | 159.61 | - | 1.00 | 0.00 | 4.22 | 6.18 | Candriam Eq Clmt Action I-Cap | € | 2151.84 | - | 20.02 | 0.00 | 12.27 | 11.32 | Candriam Sust Eq Emerging Mkts C-Cap | € | 192.54 | - | -0.69 | 0.00 | 25.10 | 18.21 | Candriam Sust Eq EMU-C-Cap | € | 214.63 | - | 1.32 | 0.00 | 8.17 | 9.57 | Candriam Sust Eurp S&M Caps-I-Cap | € | 2416.14 | - | 32.93 | 0.00 | 0.38 | 1.86 | Candriam Sust Eq World-C-Cap | € | 48.09 | - | 0.32 | 0.00 | 12.07 | 14.27 | NYLIM GF US High YieldCorp Bond-R-Cap | € | 171.97 | - | 0.20 | 0.00 | 5.36 | 7.10 | Candriam Investors Group | Other International Funds | Candriam Bds Euro Sh.Term Cap | € | 2179.58 | - | 0.48 | 0.00 | 2.08 | Candriam Bonds Credit Opportunities | € | 220.80 | - | 0.07 | 0.00 | 2.61 | Candriam Bonds Emerg Mkt-C-Cap | $ | 2998.04 | - | 8.91 | 0.00 | 6.44 | Candriam Equities L Eurp Opt Olt -I-Cap | € | 250.77 | - | 3.18 | 0.00 | 7.61 | Candriam Equities L Global Demg R Cap | € | 404.48 | - | 2.96 | 0.00 | 10.31 | Candriam Equities Onco impt-I-Cap | $ | 3529.93 | - | 49.94 | 0.00 | 7.99 | Candriam Equities L Robt&InnTech I Cap | $ | 8301.06 | - | 94.33 | 0.00 | 32.27 | Cantab Asset Management Ltd(UK)01223 522000www.cantabam.com | FCA Recognised | VT Cantab Balanced A GBP Acc | 142.07 | - | 0.00 | 1.80 | 9.87 | 9.28 | VT Cantab Moderate A GBP Acc | 139.49 | - | 0.00 | 2.12 | 9.08 | 8.08 | VT Cantab Sustainable Gbl Eq A GBP Acc | 169.71 | - | 0.00 | 1.37 | 8.72 | 9.01 | Dodge & Cox®

Worldwide Funds | Dodge & Cox Worldwide Funds | (IRL) | 48-49 Pall Mall, London SW1Y 5JG | www.dodgeandcox.com +44 0203 642 3370 | FCA Recognised | Dodge & Cox Worldwide Funds-Emerging Markets Stock Fund | Emerging Markets Stock Fund A USD Acc | $ | 16.26 | - | 0.12 | 0.00 | 26.04 | 23.91 | Emerging Markets Stock Fund A GBP Acc | £ | 17.37 | - | 0.12 | 0.00 | 23.99 | 21.56 | Emerging Markets Stock Fund D GBP Dis | £ | 15.64 | - | 0.10 | 1.69 | 21.34 | 18.98 | Emerging Markets Stock Fund A EUR Acc | € | 17.64 | - | 0.16 | 1.51 | 24.25 | 22.37 | Dodge & Cox Worldwide Funds-Global Bond Funds | EUR Accumulating Class | € | 18.49 | - | 0.03 | 0.00 | 3.55 | 4.26 | EUR Accumulating Class (H) | € | 11.93 | - | 0.00 | 0.00 | 3.03 | 3.61 | EUR Distributing Class | € | 11.26 | - | 0.02 | 0.00 | -1.40 | -0.63 | EUR Distributing Class (H) | € | 7.21 | - | 0.01 | 5.05 | -1.93 | -1.24 | GBP Distributing Class | £ | 11.67 | - | -0.01 | 4.75 | -1.66 | -1.36 | GBP Distributing Class (H) | £ | 8.18 | - | 0.00 | 4.70 | -0.10 | 0.29 | USD Accumulating Class | $ | 14.95 | - | 0.01 | 0.00 | 5.05 | 5.62 | CHF Distributing Class (H) | Sfr | 7.33 | - | 0.00 | 0.00 | -4.30 | -3.73 | Dodge & Cox Worldwide Funds-Global Stock Funds | USD Accumulating Share Class | $ | 48.77 | - | 0.61 | 0.00 | 14.00 | GBP Accumulating Share Class | £ | 60.58 | - | 0.71 | 0.00 | 12.12 | GBP Distributing Share Class | £ | 38.73 | - | 0.46 | 0.00 | 9.48 | EUR Accumulating Share Class | € | 65.39 | - | 0.89 | 0.00 | 12.71 | GBP Distributing Share Class (H) | £ | 20.95 | - | 0.26 | 0.00 | 11.96 | USD Distributing Class | $ | 19.92 | - | 0.25 | 0.00 | 12.46 | CAD Accumulating Class | C$ | 65.65 | - | 1.03 | 0.00 | 16.04 | Dodge & Cox Worldwide Funds-US Stock Fund | USD Accumulating Share Class | $ | 58.92 | - | 0.45 | 0.00 | 11.33 | 14.42 | GBP Accumulating Share Class | £ | 69.22 | - | 0.48 | 0.00 | 9.50 | 12.23 | GBP Distributing Share Class | £ | 40.27 | - | 0.28 | 0.00 | 8.65 | 11.32 | EUR Accumulating Share Class | € | 68.21 | - | 0.60 | 0.00 | 8.37 | 12.17 | GBP Distributing Share Class (H) | £ | 22.23 | - | 0.17 | 0.00 | 9.96 | 12.96 | USD Distributing Class | $ | 21.56 | - | 0.17 | 0.00 | 10.49 | 13.49 | OEIC Funds | Allocator World Fund W-Acc-GBP | £ | 4.39 | - | 0.02 | 0.97 | 15.96 | 16.04 | American Fund W-Acc-GBP | £ | 90.47 | - | 0.70 | 0.00 | 11.62 | 13.58 | American Special Sits W-Acc-GBP | £ | 29.33 | - | 0.17 | 0.41 | 7.07 | 9.14 | Asia Funds W-Acc-GBP | £ | 29.55 | - | -0.19 | 0.50 | 36.18 | 25.82 | Asia Pacific Opps W-Acc | £ | 3.31 | - | 0.00 | 0.70 | 11.09 | 7.55 | Asian Dividend Fund W-Acc-GBP | £ | 3.67 | - | 0.00 | 2.02 | 23.48 | 18.79 | Cash Fund W-Acc-GBP | £ | 1.22 | - | 0.00 | 3.86 | 0.00 | 0.00 | China Fund W-Accumulation-GBP | £ | 2.46 | - | 0.00 | 1.52 | 14.11 | 1.37 | Emerging Mkts NAV | 1641.23 | - | -19.09 | 0.00 | 0.00 | 0.00 | Enhanced Income Fund W-Inc-GBP | £ | 0.93 | - | 0.01 | 6.12 | -1.45 | -1.96 | European Fund W-Acc-GBP | £ | 31.24 | - | 0.03 | 1.50 | 6.13 | 8.84 | Global High Income Bond W-Acc-GBP | £ | 1.55 | - | 0.00 | 5.63 | 5.24 | 7.40 | Sustainable Euro Equity Fund W-ACC-GBP | £ | 7.08 | - | 0.02 | 1.19 | 8.78 | 9.96 | Sustainable Global Equity Fund W-ACC-GBP | £ | 44.08 | - | 0.14 | 0.30 | 7.91 | 8.90 | Japan Fund W-ACC-GBP | £ | 10.56 | - | -0.05 | 0.90 | 23.47 | 19.58 | Select 50 Balanced Fund Pl-Acc-GBP | £ | 1.53 | - | 0.01 | 2.17 | 0.00 | 0.00 | Special Situations Fund W-ACC-GBP | £ | 73.34 | - | 0.16 | 2.26 | 18.33 | 20.23 | Short Dated Corp Bond Fund W-ACC-GBP | £ | 12.63 | - | 0.00 | 4.46 | 0.00 | 0.00 | Sustainable Water & Waste W-ACC-GBP | 126.60 | - | 0.00 | 0.00 | 7.94 | 1.31 | Sustainable Water & Waste W-INc-GBP | 124.00 | - | 0.00 | 0.00 | 0.00 | 0.00 | UK Select Fund W-ACC-GBP | £ | 4.69 | - | 0.05 | 1.73 | 6.05 | 8.63 | Global Dividend Fund W-ACC-GBP | £ | 4.59 | - | 0.01 | 2.49 | 12.64 | 14.94 | Global Enhanced W-ACC-GBP | £ | 3.53 | - | 0.01 | 4.21 | 13.19 | 14.36 | Global Special Sits W-ACC-GBP | £ | 92.58 | - | 0.53 | 0.20 | 18.41 | 17.69 | Index Emerging Markets P-ACC-GBP | £ | 2.89 | - | -0.01 | 1.59 | 25.86 | 20.18 | Index Europe ex UK Markets P-ACC-GBP | £ | 2.88 | - | 0.01 | 2.16 | 14.99 | 14.86 | Index Japan P-ACC-GBP | £ | 3.32 | - | -0.01 | 1.45 | 18.15 | 17.38 | Index Pacific ex Japan P-ACC-GBP | £ | 2.60 | - | 0.02 | 2.67 | 15.27 | 13.96 | Index Sterling Corp Bond Fund P-ACC-GBP | £ | 0.95 | - | 0.00 | 5.42 | 0.00 | 0.00 | Index UK P-ACC-GBP | £ | 2.48 | - | 0.02 | 2.67 | 16.39 | 16.52 | Index US P-ACC-GBP | £ | 6.40 | - | 0.03 | 0.83 | 16.58 | 18.09 | Index World P-ACC-GBP | £ | 4.77 | - | 0.02 | 1.12 | 16.76 | 17.60 | MoneyBuilder Balanced Fund W-Acc-GBP | £ | 0.78 | - | 0.00 | 2.94 | 0.00 | 0.00 | MoneyBuilder Dividend Fund W-Acc-GBP | £ | 1.62 | - | 0.01 | 3.66 | -0.89 | -1.54 | Sust. MoneyBuilder Inc Fd Fund W-ACC-GBP | £ | 14.11 | - | 0.01 | 4.49 | 3.28 | 5.58 | Multi Asset Alloc Adventurous Fd W-ACC-GBP | £ | 3.23 | - | 0.01 | 1.13 | 13.25 | 13.27 | Multi Asset Alloc Defensive Fd W-ACC-GBP | £ | 1.56 | - | 0.00 | 0.00 | 5.54 | 5.36 | Multi Asset Alloc Growth Fd W-ACC-GBP | £ | 2.58 | - | 0.01 | 1.12 | 10.47 | 10.46 | Multi Asset Alloc Strategic Fd W-ACC-GBP | £ | 2.03 | - | 0.01 | 1.17 | 7.13 | 7.61 | Multi Asset Balanced Inc Fd W-INc-GBP | £ | 1.02 | - | 0.01 | 0.00 | 2.98 | 2.68 | Multi Asset Inc & Growth Fund W-INc-GBP | £ | 1.31 | - | 0.01 | 2.60 | 10.01 | 8.30 | Multi Asset Income Fund W-INc-GBP | £ | 0.90 | - | 0.00 | 0.00 | 2.01 | 1.46 | Multi Asset Open Advent W-ACC-GBP | £ | 2.51 | - | 0.01 | 1.67 | 12.04 | 11.32 | Multi Asset Open Defen W-ACC-GBP | £ | 1.66 | - | 0.00 | 0.00 | 7.68 | 6.72 | Multi Asset Open GrowthFund W-ACC-GBP | £ | 2.34 | - | 0.01 | 1.80 | 11.50 | 10.78 | Multi Asset Open Strat. Fund W-ACC-GBP | £ | 1.97 | - | 0.01 | 2.40 | 9.16 | 8.39 | Open World Fund W-Acc-GBP | £ | 3.48 | - | 0.02 | 0.81 | 13.24 | 13.07 | Strategic Bond Fund P-Acc-GBP | £ | 1.36 | - | 0.00 | 2.51 | 3.35 | 5.54 | Index UK Gilt Fund P-Acc-GBP | £ | 0.76 | - | 0.00 | 4.55 | 1.49 | 1.81 | Sustainable Asia Equity Fund W-ACC-GBP | £ | 2.80 | - | -0.01 | 0.75 | 25.35 | 16.13 | Sust Multi Asset Balanced Fund W-ACC-GBP | £ | 1.22 | - | 0.00 | 1.29 | 0.00 | 0.00 | Sust Multi Asset Con. Fd W-ACC-GBP | £ | 1.08 | - | 0.00 | 0.00 | 0.00 | 0.00 | Sust Multi Asset Gwth Fd W-ACC-GBP | £ | 1.35 | - | 0.00 | 1.13 | 0.00 | 0.00 | UK Opportunities Fund W-ACC-GBP | £ | 2.69 | - | 0.03 | 2.22 | 0.00 | 0.00 | UK Smaller Companies W-ACC-GBP | £ | 4.85 | - | -0.01 | 2.32 | 6.76 | 11.33 | Authorised Corporate Director-Waystone Management (UK) Limited | Royal London | (UK) | 80 Fenchurch Street, London EC3M 4BY | Nutshell Asset Management Ltd | (IRL) | Nutshell Asset Management Ltd, Ivybridge House, 1-5 Adam Street, London WC2N 6LEwww.nutshellam.com | Authorised Inv Funds | Nutshell Growth Fund Gbp Inst Founder | £ | 193.71 | - | 1.48 | 0.00 | 16.09 | 17.27 | Bid Offer +/- Yield 24m 36m Fund

Fundsmith LLP (1200)F

PO Box 10846, Chelmsford Essex CM99 2BW 0330 123 1815

www.fundsmith.co.uk, enquiries@fundsmith.co.uk | Authorised Inv Funds | Fundsmith Equity T Acc | 724.59 | - | 5.68 | 0.00 | 0.74 | 4.20 | Fundsmith Equity T Inc | 653.98 | - | 5.12 | 0.00 | 14.96 | 14.10 |

Bid Offer +/- Yield 24m 36m | Guinness Global Equity Income Y GBP Dis | £ | 24.97 | - | 0.24 | 2.05 | 8.79 | 11.42 | Guinness Global Innovators Y GBP ACC | £ | 49.46 | - | 0.38 | 0.00 | 13.54 | 16.82 | Guinness Global Quality Mid Cap Y Gbp Acc | £ | 16.41 | - | 0.14 | 0.00 | 12.84 | 11.98 | ---

Janus Henderson 投资者

McInroy & Wood Portfolios Limited

Easter Alderston, Haddington EH41 3SF 01620 825867

授权投资资金 | Balanced Fund Acc< / > 6997.60< / > -< / > 21.50< / > 1.84< / > 4.58< / > 0.00< / >< / > Balanced Fund Inc< / > 6568.90< / > -< / > 20.20< / > 1.88< / > 2.71< / > 2.72< / >< / > Emerging Markets Fund ACC< / > 2345.10< / > -< / > -1.80< / > 1.73< / > 2.59< / > 0.00< / >< / > Emerging Markets Fund Inc< / > 2100.50< / > -< / > -1.60< / > 1.77< / > 0.67< / > -1.63< / >< / > Income Fund Acc< / > 3620.00< / > -< / > 2.80< / > 2.71< / > 6.56< / > 0.00< / >< / > Income Fund Inc< / > 3189.70< / > -< / > 2.50< / > 2.81< / > 3.35< / > 3.32< / >< / > Smaller Companies Fund Acc< / > 7282.10< / > -< / > 4.30< / > 1.27< / > 4.47< / > 0.00< / >< / > Smaller Companies Fund Inc< / > 6819.80< / > -< / > 4.00< / > 1.29< / > 3.12< / > 3.62< / > | 司法部共同投资资金< / > (英国)< / >< / > | 房地产及其他英国单位信托< / >< / > The Equity Idx Tracker Fd Inc< / > 2656.00< / > -< / > 11.00< / > 2.00< / > 10.48< / > 10.57< / >< / > | 分配单位< / > |

| 受监管< / >< / > Oasis Crescent Global Eq Fd (USD) A (Dist)< / > $ 56.13< / > -< / > 0.00< / > 17.95< / > 15.81< / >< / > Oasis Crescent Global Inc Fd (USD) A Dist< / > $ 9.97< / > -< / > 0.01< / > 0.00< / > -0.57< / > -0.07< / >< / > Oasis Crescent Low Equity Fund (USD) D Dist< / > $ 15.95< / > -< / > 0.03< / > 0.00< / > 9.35< / > 8.75< / >< / > Oasis Crescent Med Equity Fd (USD) A Dist< / > $ 18.65< / > -< / > 0.02< / > 0.00< / > 11.33< / > 10.25< / >< / > Oasis Crescent Prop Equity Fd (USD) A Dist< / > $ 10.17< / > -< / > 0.07< / > 0.00< / > 6.97< / > 9.24< / >< / > Oasis Crescent Short Term Inc Fd (USD) A (Dist$)< / > 0.95< / > -< / > 0.00< / > 0.40< / > 0.60< / >< / > Oasis Crescent Variable Fund (USD) A (Dist) £< / > £ 12.13< / > -< / > 0.05< / > 0.00< / > 6.98< / > 7.32< / > | Private Fund Mgrs (Guernsey) Ltd< / > (GSY)< / >< / > | 受监管< / >< / > Monument Growth 06 / 10 / 2026< / > £< / > 608.26< / > 61394< / > 451< / > 1.08< / > 2.74< / > 2.73< / > | 授权公司董事-Waystone Management (UK) Limited< / >< / > Global Total Fd PCG A< / > 714.27< / > -< / > 4.78< / > 0.41< / > 14.82< / > 18.14< / >< / > Global Total Fd PCG B< / > 703.07< / > -< / > 4.69< / > 0.00< / > 14.73< / > 18.06< / >< / > Global Total Fd PCG INT< / > 685.58< / > -< / > 4.57< / > 0.00< / > 14.55< / > 17.88< / > |

Purisima Investment Fds (CI) Ltd

| 受监管< / >< / > PCG B< / > 569.21< / > -< / > -1.20< / > 0.00< / > 15.54< / > 19.74< / >< / > PCG C< / > 549.07< / > -< / > -1.17< / > 0.00< / > 15.28< / > 19.47< / > |

Royal London Sustainable Diversified A Inc | 287.50< / > -< / > 1.20< / > 1.55< / > 4.66< / > 6.15< / > | Royal London Sustainable World A Inc< / > 526.90< / > -< / > 3.60< / > 0.71< / > 12.14< / > 12.65< / >< / > Royal London Corporate Bond Mth Income< / > 75.17< / > -< / > 0.06< / > 4.64< / > 0.62< / > 0.59< / >< / > Royal London European Growth Trust< / > 284.50< / > -< / > 0.60< / > 1.15< / > 8.82< / > 9.44< / >< / > Royal London Sustainable Leaders A Inc< / > 1006.00< / > -< / > 9.10< / > 1.50< / > 7.28< / > 7.09< / >< / > Royal London UK Growth Trust< / > 862.70< / > -< / > 6.20< / > 1.73< / > 10.25< / > 10.29< / >< / > Royal London UK Income With Growth Trust< / > 252.90< / > -< / > 1.10< / > 4.07< / > 6.66< / > 7.23< / >< / > Royal London US Growth Trust< / > 682.70< / > -< / > 0.30< / > 0.01< / > 15.46< / > 18.12< / > |

可用其他基金

详情请参阅 www.royallondon.com

Ruffer LLP (1000) F

3rd Floor, Central Square, Wellington Street, Leeds LS1 4DL

订单台及查询电话：0345 601 9610

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授权投资资金

WS Ruffer Total Return C Acc | 587.10< / > -< / > 0.00< / > 2.16< / > 4.90< / > 4.23< / > | WS Ruffer Total Return C Inc< / > 338.68< / > -< / > 0.00< / > 2.19< / > 1.76< / > 0.57< / > |

| SICO BSC BHR电话 - +973 1751 5700网站 - www.sicobank.com< / > (BHR)< / >< / > Khaleej Equity Fund< / > $< / > 549.96< / > -< / > -33.51< / > 0.00< / > -3.81< / >< / > Sico Gulf Equity Fund< / > $< / > 202.34< / > -< / > 3.72< / > 0.00< / > 10.57< / > | SICO Capital KSA电话 - +966 11 521 3835网站 - www.sicocapital.com< / > (KSA)< / >< / > SICO Kingdom Equity Fund< / > SAR< / > 10.28< / > -< / > -0.39< / > 0.00< / > 1.39< / > -< / >< / > SICO MENA Equity Fund< / > SAR< / > 21.34< / > -< / > -0.39< / > 0.00< / > -1.37< / > 4.80< / >< / > SICO Capital Money Market< / > SAR< / > 14.07< / > -< / > -0.15< / > 0.00< / > -< / > |

买入价卖出价 + / - 收益率 24个月 36个月

Stonehage Fleming Investment Management Ltd< / > (IRL)< / >< / > www.stonehagefleming.com / gbi enquiries@stonehagefleming.com< / > < / > |

SF Global Best Ideas Eq B USD Acc< / > $< / > 300.94< / > -< / > 2.60< / > 0.00< / > 4.47< / > 6.45< / >< / > SF Global Best Ideas Eq D GBP Inc< / > £< / > 345.22< / > -< / > 3.01< / > 0.00< / > 2.82< / > 4.46< / > |

Superfund Asset Management GmbH

www.superfund.com, +43 (1) 247 00

Trend Gold< / > $ 1851.90< / > -< / > 31.30< / > 0.00< / > 33.83< / > 32.16< / >< / > Trend Silver< / > $ 1969.80< / > -< / > 58.08< / > 0.00< / > 52.27< / > 42.96< / >< / > Trend< / > $ 819.80< / > -< / > 2.41< / > 0.00< / > 14.48< / > 8.64< / >< / > Bitcoin 0-2x< / > € 95.99< / > -< / > 0.00< / > 5.72< / > 15.41< / >< / > Fund-of-Funds< / > $ 170.73< / > -< / > 0.00< / > 21.89< / > 20.71< / > |

Blockchain< / > €< / > 22.64< / > -< / > -0.99< / > 0.00< / > 14.20< / > 29.93< / >< / > Gold Silver + Mining< / > €< / > 18.83< / > -< / > 0.07< / > 0.00< / > 26.34< / > 25.96< / >< / > Quadriga All Seasons< / > €< / > 14.80< / > -< / > -0.02< / > 0.00< / > 15.55< / > 16.72< / >< / > Inflation< / > Sfr< / > 11.14< / > -< / > 0.03< / > 0.00< / > 9.32< / > 7.84< / > |

Troy Asset Management (1200)

3rd Floor, Central Square, Wellington Street, Leeds LS1 4DL

订单台与查询 0345 608 0950

Trojan 投资基金 | Trojan Ethical Global Inc O Acc< / > 111.77< / > -< / > 0.44< / > 3.04< / > -1.02< / > 3.26< / >< / > Ethical Global Inc O Inc< / > 98.43< / > -< / > 0.39< / > 3.09< / > -3.11< / > -0.20< / >< / > Ethical O Acc< / > 158.99< / > -< / > 0.57< / > 0.67< / > 7.54< / > 7.69< / >< / > Ethical O Inc< / > 153.49< / > -< / > 0.55< / > 0.68< / > 5.69< / > 6.31< / >< / > Ethical Income O Acc< / > 169.17< / > -< / > 0.82< / > 2.56< / > 4.70< / > 6.65< / >< / > Ethical Income O Inc< / > 127.29< / > -< / > 0.61< / > 2.65< / > 1.94< / > 3.82< / >< / > Fund Acc< / > 465.27< / > -< / > 1.60< / > 0.80< / > 7.02< / > 6.77< / >< / > Fund Inc< / > 364.35< / > -< / > 1.25< / > 0.88< / > 7.54< / > 5.01< / >< / > Global Income O Acc< / > 172.81< / > -< / > 0.92< / > 3.36< / > 1.57< / > 3.67< / >< / > Global Income O Inc< / > 128.28< / > -< / > 0.68< / > 3.43< / > -1.60< / > 0.42< / >< / > Income O Acc< / > 398.63< / > -< / > 2.01< / > 2.79< / > 3.86< / > 6.15< / >< / > Income O Inc< / > 175.63< / > -< / > 0.89< / > 2.89< / > 0.48< / > 2.31< / > |

Troy Asset Management (1100)< / > (IRL)< / >< / > Kilmore House, Spencer Dock, North Wall Quay, Dublin 1, D01 YE64, Ireland Enquiries +353 (0) 1672 1600< / > < / >< / > FCA 认可基金< / > < / > |

管理公司 - Universal Investment Ireland

| Funds (Ireland) Plc< / >< / > Europe O EUR Acc< / > €< / > 1.0312< / > -< / > 0.00< / >< / > Exclusions X GBP Acc< / > £< / > 1.3302< / > -< / > 0.00< / > 6.62< / >< / > Global Equity O GBP Acc< / > £< / > 6.0743< / > -< / > 0.07< / > 0.20< / > -0.05< / >< / > (Ireland) O GBP Acc< / > £< / > 1.8711< / > -< / > 0.01< / > 0.00< / > 6.16< / > |

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📄 Original Section

Janus Henderson INVESTORS | www.janushenderson.com | Authorised Inv Funds | Janus Henderson Absolute Return Fund A Acc | 206.70 | - | 0.30 | 2.10 | 5.51 | 6.50 | Janus Henderson Asian Divi Inc Unit Trst Inc | 102.00 | - | -0.50 | 5.50 | 11.91 | 9.35 | Janus Henderson Cautious Mngd Fund A Acc | 350.40 | - | 1.60 | 3.90 | 6.51 | 8.64 | Janus Henderson Cautious Mngd Fund A Inc | 150.40 | - | 0.70 | 4.00 | 2.40 | 2.76 | Janus Henderson China Opp Fund A Acc | 1275.00 | - | 3.00 | 0.10 | 20.42 | 7.17 | Janus Henderson Emerging Markets Asia A Acc | 1815.00 | - | -24.00 | 0.00 | 25.49 | 20.45 | Janus Henderson Emerg. Mkts Opps Fnd A Acc | 303.10 | - | -3.00 | 0.00 | 18.95 | 14.76 | Janus Henderson European Focus A Acc | 578.30 | - | 1.20 | 0.10 | 0.00 | 0.00 | Janus Henderson Euro. Sel Opps Fund A Acc | 3087.00 | - | 5.00 | 0.30 | 10.88 | 11.44 | Janus Henderson Fixed Int Mthly Inc Fd Inc | 16.58 | - | 0.01 | 6.50 | -1.03 | -1.08 | Janus Henderson Global Equity Inc Fnd Inc | 86.64 | - | 0.34 | 2.60 | 8.84 | 8.32 | Janus Henderson Global Select Fund Acc | 6557.00 | - | 34.00 | 0.00 | 9.71 | 14.62 | Janus Henderson Global Sust Equity Fd A Inc | 719.80 | - | 3.60 | 0.00 | 9.46 | 12.40 | Janus Henderson Global Tech Ldrs Fnd A Acc | 7515.00 | - | -14.00 | 0.00 | 26.18 | 28.81 | Janus Henderson Instl UK Index Opps A Acc | 175.97 | - | 1.36 | 2.40 | 16.08 | 16.32 | Janus Henderson Multi-Asst Abs Rtn Fd A Acc | 190.80 | - | 0.20 | 2.10 | 4.94 | 4.75 | Janus Henderson Multi-Mgr Actv Fd A Acc | 338.50 | - | 0.00 | 1.70 | 8.38 | 8.79 | Janus Henderson Multi-Mgr Dist Fd A Inc | 136.50 | - | 0.40 | 2.60 | 3.23 | 2.94 | Janus Henderson Multi-Mgr Div. Fd A Acc | 105.10 | - | 0.20 | 3.20 | 6.39 | 7.28 | Janus Henderson Multi-Mgr Glbl Sel Fd A Acc | 449.50 | - | 0.70 | 0.00 | 9.82 | 11.16 | Janus Henderson MultMgrInc&Gwth FdA Acc | 231.80 | - | 0.60 | 2.60 | 6.45 | 6.53 | Janus Henderson Multi-MgrInc&Gwth Fd A Inc | 160.90 | - | 0.40 | 2.60 | 3.39 | 3.26 | Janus Henderson Multi-Mgr Mngd Fd A Acc | 406.30 | - | 0.00 | 1.40 | 7.74 | 8.16 | Janus Henderson Multi-Mgr Mngd Fd A Inc | 374.80 | - | 0.00 | 1.20 | 6.42 | 6.73 | Janus Henderson Sterling Bond Unit Trust Acc | 225.70 | - | 0.10 | 4.10 | 2.51 | 4.71 | Janus Henderson Sterling Bond Unit Trust Inc | 54.52 | - | 0.03 | 4.10 | -0.73 | 0.22 | Janus Henderson Strategic Bond Fund A Inc | 92.32 | - | 0.09 | 6.30 | -2.40 | -2.75 | Janus Henderson UK Alpha Fund A Acc | 197.30 | - | 1.40 | 0.90 | 11.05 | 15.10 | Janus Henderson UK Eq Inc & Growth Fd A Inc | 687.60 | - | 4.30 | 3.40 | 8.10 | 10.29 | Janus Henderson US Growth Fund A Acc | 3115.00 | - | 37.00 | 0.00 | 12.83 | 16.77 |

McInroy & Wood Portfolios Limited

Easter Alderston, Haddington EH41 3SF 01620 825867 | Authorised Inv Funds | Balanced Fund Acc | 6997.60 | - | 21.50 | 1.84 | 4.58 | 0.00 | Balanced Fund Inc | 6568.90 | - | 20.20 | 1.88 | 2.71 | 2.72 | Emerging Markets Fund ACC | 2345.10 | - | -1.80 | 1.73 | 2.59 | 0.00 | Emerging Markets Fund Inc | 2100.50 | - | -1.60 | 1.77 | 0.67 | -1.63 | Income Fund Acc | 3620.00 | - | 2.80 | 2.71 | 6.56 | 0.00 | Income Fund Inc | 3189.70 | - | 2.50 | 2.81 | 3.35 | 3.32 | Smaller Companies Fund Acc | 7282.10 | - | 4.30 | 1.27 | 4.47 | 0.00 | Smaller Companies Fund Inc | 6819.80 | - | 4.00 | 1.29 | 3.12 | 3.62 | Ministry of Justice Common Investment Funds | (UK) | Property & Other UK Unit Trusts | The Equity Idx Tracker Fd Inc | 2656.00 | - | 11.00 | 2.00 | 10.48 | 10.57 | Distribution Units |

| Regulated | Oasis Crescent Global Eq Fd (USD) A (Dist) | $ 56.13 | - | 0.00 | 0.00 | 17.95 | 15.81 | Oasis Crescent Global Inc Fd (USD) A Dist | $ 9.97 | - | 0.01 | 0.00 | -0.57 | -0.07 | Oasis Crescent Low Equity Fund (USD) D Dist | $ 15.95 | - | 0.03 | 0.00 | 9.35 | 8.75 | Oasis Crescent Med Equity Fd (USD) A Dist | $ 18.65 | - | 0.02 | 0.00 | 11.33 | 10.25 | Oasis Crescent Prop Equity Fd (USD) A Dist | $ 10.17 | - | 0.07 | 0.00 | 6.97 | 9.24 | Oasis Crescent Short Term Inc Fd (USD) A (Dist$) | 0.95 | - | 0.00 | 0.00 | 0.40 | 0.60 | Oasis Crescent Variable Fund (USD) A (Dist) £ | £ 12.13 | - | 0.05 | 0.00 | 6.98 | 7.32 | Private Fund Mgrs (Guernsey) Ltd | (GSY) | Regulated | Monument Growth 06/10/2026 | £ | 608.26 | 61394 | 451 | 1.08 | 2.74 | 2.73 | Authorised Corporate Director-Waystone Management (UK) Limited | Global Total Fd PCG A | 714.27 | - | 4.78 | 0.41 | 14.82 | 18.14 | Global Total Fd PCG B | 703.07 | - | 4.69 | 0.00 | 14.73 | 18.06 | Global Total Fd PCG INT | 685.58 | - | 4.57 | 0.00 | 14.55 | 17.88 | Purisima Investment Fds (CI) Ltd | Regulated | PCG B | 569.21 | - | -1.20 | 0.00 | 15.54 | 19.74 | PCG C | 549.07 | - | -1.17 | 0.00 | 15.28 | 19.47 | Royal London Sustainable Diversified A Inc | 287.50 | - | 1.20 | 1.55 | 4.66 | 6.15 | Royal London Sustainable World A Inc | 526.90 | - | 3.60 | 0.71 | 12.14 | 12.65 | Royal London Corporate Bond Mth Income | 75.17 | - | 0.06 | 4.64 | -0.62 | 0.59 | Royal London European Growth Trust | 284.50 | - | 0.60 | 1.15 | 8.82 | 9.44 | Royal London Sustainable Leaders A Inc | 1006.00 | - | 9.10 | 1.50 | 7.28 | 7.09 | Royal London UK Growth Trust | 862.70 | - | 6.20 | 1.73 | 10.25 | 10.29 | Royal London UK Income With Growth Trust | 252.90 | - | 1.10 | 4.07 | 6.66 | 7.23 | Royal London US Growth Trust | 682.70 | - | -0.30 | 0.01 | 15.46 | 18.12 | Additional Funds Available

Please see www.royallondon.com for details

Ruffer LLP (1000) F

3rd Floor, Central Square, Wellington Street, Leeds LS1 4DL

Order Desk and Enquiries: 0345 601 9610

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FT 基金数据指南

本页所引用的基金价格由基金运营方、基金管理人和基金行政管理人提供。本页公布的基金详情（包括价格）仅用于信息参考，仅应作为指南使用。金融时报有限公司（The Financial Times Limited）对其准确性或完整性不作任何陈述，在做出投资决策时不得依赖这些数据。在某些司法管辖区，法律可能会限制销售本页所列基金的权益，且在出版物流通的所有司法管辖区内，相关人员不一定都能获得这些基金。如有疑问，请寻求适当的专业建议。数据由 ICE 汇总。本版公布的基金价格及附加信息也可在金融时报网站 www.ft.com / funds 上获取。本页公布的基金授予一家接收公司。除非另有说明，价格均以 price 表示。如果显示变动，则为相对于前次引用数据的变动（并非所有基金每天都更新价格）。标记为 \$ 且无前缀的项指美元。收益率百分比（在周二至周六的报纸中）已计入购买费用。

某些较旧的保险挂钩计划的价格在出售时可能需缴纳资本利得税。

OEIC：开放式投资公司。类似于单位信托，但采用公司结构而非信托结构。发行不同的份额类别以反映不同的货币、收费结构或持有者类型。

买入价（Bid price）：也称为卖出价。投资者出售单位信托份额的价格。

认购价（Offer）：也称为买入价。投资者购买单位信托份额的价格。包括管理人的初始费用。

单一价格（Single）：基于底层投资的中端市场估值。OEIC 份额和单一价格单位信托份额的买入和卖出价格相同。管理人的定期资本费用处理：24 和 36 个月：使用该期间的总收益（或损失）计算 24 和 36 个月的年化业绩数据。业绩计算公式已根据参考期间内的收益分配进行了调整。

收益率（Yield）：使用基金的预计年收入除以最新的可用净资产值计算得出。

报纸中出现的价格是管理人 / 运营方提供的最新价格。

此广告服务的费用基于公布的行数和基金的分类。欲了解更多信息，请联系 data@ft.com。其他查询请联系 newspapers@ice.com

数据提供方：

市场与数据在此汇聚。

📄 Original Section

Authorised Inv Funds | WS Ruffer Total Return C Acc | 587.10 | - | 0.00 | 2.16 | 4.90 | 4.23 | WS Ruffer Total Return C Inc | 338.68 | - | 0.00 | 2.19 | 1.76 | 0.57 |
| SICO BSC BHRTelephone - +973 1751 5700Website - www.sicobank.com | (BHR) | Khaleej Equity Fund | $ | 549.96 | - | -33.51 | 0.00 | -3.81 | Sico Gulf Equity Fund | $ | 202.34 | - | 3.72 | 0.00 | 10.57 | SICO Capital KSATelephone - +966 11 521 3835Website - www.sicocapital.com | (KSA) | SICO Kingdom Equity Fund | SAR | 10.28 | - | -0.39 | 0.00 | 1.39 | - | SICO MENA Equity Fund | SAR | 21.34 | - | -0.39 | 0.00 | -1.37 | 4.80 | SICO Capital Money Market | SAR | 14.07 | - | -0.15 | 0.00 | - | - | Bid Offer +/- Yield 24m 36m

| Stonehage Fleming Investment Management Ltd | (IRL) | www.stonehagefleming.com/gbi enquiries@stonehagefleming.com | SF Global Best Ideas Eq B USD Acc | $ | 300.94 | - | 2.60 | 0.00 | 4.47 | 6.45 | SF Global Best Ideas Eq D GBP Inc | £ | 345.22 | - | 3.01 | 0.00 | 2.82 | 4.46 |

Superfund Asset Management GmbH

www.superfund.com, +43 (1) 247 00 | Superfund Trend Gold | $ 1851.90 | - | 31.30 | 0.00 | 33.83 | 32.16 | Superfund Trend Silver | $ 1969.80 | - | 58.08 | 0.00 | 52.27 | 42.96 | Superfund Trend | $ 819.80 | - | 2.41 | 0.00 | 14.48 | 8.64 | Superfund Bitcoin 0-2x | € 95.99 | - | 0.00 | 0.00 | 5.72 | 15.41 | Superfund Fund-of-Funds | $ 170.73 | - | 0.00 | 0.00 | 21.89 | 20.71 | Superfund Blockchain | € | 22.64 | - | -0.99 | 0.00 | 14.20 | 29.93 | Superfund Gold Silver + Mining | € | 18.83 | - | 0.07 | 0.00 | 26.34 | 25.96 | Superfund Quadriga All Seasons | € | 14.80 | - | -0.02 | 0.00 | 15.55 | 16.72 | Superfund Inflation | Sfr | 11.14 | - | 0.03 | 0.00 | 9.32 | 7.84 |

Troy Asset Management (1200)

3rd Floor, Central Square, Wellington Street, Leeds LS1 4DL

Order Desk and enquiries 0345 608 0950 | Trojan Investment Funds | Trojan Ethical Global Inc O Acc | 111.77 | - | 0.44 | 3.04 | -1.02 | 3.26 | Trojan Ethical Global Inc O Inc | 98.43 | - | 0.39 | 3.09 | -3.11 | -0.20 | Trojan Ethical O Acc | 158.99 | - | 0.57 | 0.67 | 7.54 | 7.69 | Trojan Ethical O Inc | 153.49 | - | 0.55 | 0.68 | 5.69 | 6.31 | Trojan Ethical Income O Acc | 169.17 | - | 0.82 | 2.56 | 4.70 | 6.65 | Trojan Ethical Income O Inc | 127.29 | - | 0.61 | 2.65 | 1.94 | 3.82 | Trojan Fund Acc | 465.27 | - | 1.60 | 0.80 | 7.02 | 6.77 | Trojan Fund Inc | 364.35 | - | 1.25 | 0.88 | 7.54 | 5.01 | Trojan Global Income O Acc | 172.81 | - | 0.92 | 3.36 | 1.57 | 3.67 | Trojan Global Income O Inc | 128.28 | - | 0.68 | 3.43 | -1.60 | 0.42 | Trojan Income O Acc | 398.63 | - | 2.01 | 2.79 | 3.86 | 6.15 | Trojan Income O Inc | 175.63 | - | 0.89 | 2.89 | 0.48 | 2.31 | Troy Asset Management (1100) | (IRL) | Kilmore House, Spencer Dock, North Wall Quay, Dublin 1, D01 YE64, Ireland Enquiries +353 (0) 1672 1600 | FCA Recognised Funds | Management Company - Universal Investment Ireland | Trojan Funds (Ireland) Plc | Trojan Europe O EUR Acc | € | 1.0312 | - | 0.00 | 0.00 | 0.00 | Trojan Exclusions X GBP Acc | £ | 1.3302 | - | 0.00 | 0.00 | 6.62 | Trojan Global Equity O GBP Acc | £ | 6.0743 | - | 0.07 | 0.20 | -0.05 | Trojan (Ireland) O GBP Acc | £ | 1.8711 | - | 0.01 | 0.00 | 6.16 | ---

透明度。探索。创新。

Ice.

📄 Original Section

Guide to FT Funds Data

The fund prices quoted on these pages are supplied by the fund operators, fund managers and fund administrators. Details of funds published on these pages, including prices, are for the purpose of information only and should only be used as a guide. The Financial Times Limited makes no representation as to their accuracy or completeness and they should not be relied upon when making an investment decision. The sale of interests in the funds listed on these pages may, in certain jurisdictions, be restricted by law and the funds will not necessarily be available to persons in all jurisdictions in which the publication circulates. Persons in any doubt should take appropriate professional advice. Data collated by ICE. The fund prices published in this edition along with additional information are also available on the Financial Times website. www.ft.com/funds. The funds published on these pages are granted to a recipient company. Prices are in price unless otherwise indicated. The change, if shown, is the change on the previously quoted figure (not all funds update prices daily). Those designated \$ with no prefix refer to US dollars. Yield percentage figures (in Tuesday to Saturday papers) allow for buying expenses.

Prices of certain older insurance linked plans might be subject to capital gains tax on sales.

OEIC: Open-Ended Investment Company. Similar to a unit trust but using a company rather than a trust structure. Different share classes are issued to reflect a different currency, charging structure or type of holder.

Bid price: Also called selling price. The price at which units in a unit trust are sold by investors.

Offer price: Also called buying price. The price at which units in a unit trust are bought by investors. Includes manager's initial charge.

Single price: Based on a mid-market valuation of the underlying investments. The buying and selling price for shares of an OEIC and units of a single priced unit trust are the same. Treatment of manager's periodic capital charge: 24 and 36 months: 24 and 36 month annualized performance figures calculated using the total gain (or loss) from that period. Performance formula is adjusted to consider the income distribution during the reference period.

Yield: Calculated using the fund's projected annual income, divided by the latest available net asset value.

The prices appearing in the newspaper are the most recent provided by the managers/operators.

Charges for this advertising service are based on the number of lines published and the classification of the fund. Please contact data@ft.com for further information. For further queries contact newspapers@ice.com

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泰特现代美术馆的声音新世界

黎巴嫩艺术家塔雷克·阿图伊（Tarek Atoui）向克里斯·哈维（Chris Harvey）讲述他如何用大量冷门乐器填满巨大的涡轮大厅

9月下旬的泰特现代美术馆（Tate Modern）：一项重大的工程项目正在涡轮大厅（Turbine Hall）中成形。戴着安全帽的工人有目的地穿梭，一台小型叉车将巨大的、带有裂缝的石板移至原位；剪叉式升降机向复杂的竹管系统延伸；一面巨大的牛皮鼓垂直悬挂在15米高空，而巨大的号角则向下指；数百根电线从上方垂下。一个身着彩色服装和靴子、身材纤细但气场强大的身影在展厅中大步走过：他就是常驻巴黎的黎巴嫩声音艺术家塔雷克·阿图伊，也是最新一届现代汽车委任展（Hyundai Commission）的获得者。

涡轮大厅是泰特现代美术馆的标志性空间，可以说正是这个空间使其成为欧洲参观人数最多的博物馆景点之一，但近年来这里已成为一个充满争议的区域。萨米-挪威艺术家玛雷特·安妮·萨拉（Máret Ánne Sara）2025 委任作品——旨在回应她出生所在的原住民社区受到威胁的生活方式——使用了木栅栏和驯鹿头骨，这让一些人意识到，泰特美术馆现在更倾向于基于议题的艺术政治，而非艺术本身。

当然也有成功的案例：卡拉·沃克（Kara Walker）的《美国之泉》（Fons Americanus，2019）受到了评论界和公众的一致好评。但涡轮大厅前25年最著名的作品，如奥拉富尔·埃利亚松（Olafur Eliasson）的《天气项目》（The Weather Project，2003）或多丽丝·萨尔塞多（Doris Salcedo）的《希波莱斯》（Shibboleth，2007）——即所谓的“裂缝”——现在看来似乎已是很久以前的事了。

在这种背景下，阿图伊似乎是一个极具启发性的选择，他提供了不同且不寻常的东西，且不被环境的规模所震慑。他的自信体现在他所做选择的精简上。阿图伊的实践范围很广，“在音乐、视觉艺术和教育的世界之间循环”，他解释道。

他探索了传统和古老的音乐创作方式，以及数字化和人工智能方式；他与聋哑及听障人士合作，研究声音被感知的不同方式；他还记录了港口城市的声学特征，将历史、生态和记忆融合在一起。然而，对于涡轮大厅的委任作品，他在决定哪些乐器能在这里发挥作用之前，先在环境本身中花费了一段时间。

“我最终决定使用有限的几类乐器，”阿图伊说，“实际上是四类，我认为它们的声学特性和声音能够从空间的混响以及建筑和气候条件中获益。”

他首先选定了笙，这是一种拥有三千多年历史的口吹管乐器。“在东亚，从南到北都能找到它，而且每个地方的材质、调音、管数都不同，但原理是一样的，”他说。“我从亚洲各地收集了这些乐器，甚至复原了一些在博物馆馆藏中的乐器。”

我们头顶上的那组竹管网络将提供由计算机控制的呼吸来演奏它们。接着是卡奈号（karnai horns），这是乌兹别克斯坦的传统仪式乐器，由常驻伦敦的建筑师亚瑟·马穆-马尼（Arthur Mamou-Mani）利用糖树脂和竹粉通过3D打印将其规模扩大。而那些巨大的韩国鼓则是由光州附近的一位鼓类大师制作的。

第四种乐器——与服装设计师近藤 Satoshi（Satoshi Kondo）和三宅一生（Issey Miyake）合作——是一种特制的涂有石墨漆的织物，它可以导电，从而使其成为一个模拟振荡器。这个想法源于阿图伊与聋哑社区成员的合作：在那个项目中，他使用石墨墨水来创造合成的低频振动，从而允许

艺术

使用它进行绘画的人可以创作出他们能感受到的音乐。长达30米的纺织品在房间的气流中摆动，将产生音乐。

最后是那些石板，阿图伊（Atoui）表示，石板内部装有扬声器以“捕捉声音……通过坐在石头上或倚靠在上面，你同样能感受到声音的振动特质和物理触感，而不会觉得声音太大”。

这对他作品中的政治元素是一个恰当的比喻：“音乐和声音的语言可以包含许多由当今世界政治状态所诱发的东西，但不一定需要以[直接]的方式去探讨。声音允许你开启一个抒情且富有想象力的空间，以一种不同的方式进行对话。”

现年46岁的阿图伊出生在贝鲁特，当时黎巴嫩内战已爆发五年，那是我们这个时代最复杂、多方参与的冲突之一。“战争并非每天都在发生，”他说。

“有些时刻极其剧烈，你甚至不知道是谁在和谁战斗；而有些时刻，生活则会恢复

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“声音让你能够开启这样一个抒情且富有想象力的空间，从而以一种不同的方式进行对话”

回到正常状态几个月，或者几周。然后它再次崩溃。”

“童年比成年期更能抵御战争，”他补充道，“你不知道什么是和平时期，所以你没有什么可以用来对比。”

战争结束时他 10 岁，但他说直到他十几岁离开去法国留学时，才开始意识到从未学会骑自行车，也从未被带去公园这件事是多么奇怪。

左图：Tarek Atoui 由 Matilda Hill-Jenkins 为《金融时报》拍摄；下图：鼓状的显示装置被管道环绕

他的父母都是教师，但在他八岁时母亲的去世促使他将自己封闭在室内，沉浸在书籍和诗歌中。随着街道恢复生活，剧院在他青少年时期开始重新开放，他的文化世界随之扩大。他最初前往兰斯（Reims）是为了学习商业和地缘政治，但通过 techno 和 rave 场景被音乐所吸引。

对于 Atoui 来说，地下文化先于前卫艺术，Aphex Twin 先于约翰·凯奇（John Cage）。正是他对实验电子音乐的兴趣，引导他“在时间中向后旅行”，去发现第二次世界大战后几十年里那些具有开创性的艺术家。

——凯奇和利盖蒂（Ligeti），以及泽纳基斯（Xenakis），对他而言依然至关重要，但他也接纳更广泛的影响——建筑师、手工艺人、如皮埃尔·保罗·帕索里尼（Pier Paolo Pasolini）和安德烈·塔可夫斯基（Andrei Tarkovsky）这样的电影制作人，以及如“深听”先驱波琳·奥利韦罗斯（Pauline Oliveros）和克里斯蒂安·马克雷（Christian Marclay）这样的艺术家。

这次委约创作中最令人兴奋且最具创新性的元素之一，是 Atoui 邀请的 40 多名音乐家，他们将在作品展演期间参与其中。这体现了 Atoui 作为实验作曲家的影响力，以及他对即兴创作的信念：“你可以只带着像萨克斯管这样简单的乐器来演奏，”他说。

“有麦克风在倾听你，它们会将你的声音整合到作品中并对其进行转换。但你也可以接入你的控制设备并使用所有乐器，包括鼓和长笛，为这个空间重新创作一件作品。”

他不难地花时间思考过去哪些尝试是成功的。我是否注意到了那些对前作的俏皮引用？比如中央鼓对埃利亚松（Eliasson）发光的“太阳”的致敬，以及石板上的裂缝对“裂缝”的致敬？我之前没有注意到，但现在我看到了。也许另外 200 万人将有机会亲自看到——并听到。

展至 4 月 11 日，tate.org.uk

在以下日期的《金融时报》周末版中阅读 HTSI 杂志：

📄 Original Section

Tate Modern's new world of sounds

Lebanese artist Tarek Atoui tells Chris Harvey about filling the cavernous Turbine Hall with a vast array of obscure instruments

ate Modern, late September: a major engineering project is taking shape in the Turbine Hall. Workers in hard hats mill purpose-

fully as a mini-forklift manoeuvres large, fissured slabs into place; scissor lifts reach up towards elaborate bamboo pipework; an enormous ox-skin drum is suspended vertically 15 metres up, while huge horns point down; hundreds of wires hang from above. Striding across the hall in colourful garb and boots is a slender but imposing figure: this is the Paris-based, Lebanese sound artist Tarek Atoui, the latest recipient of the Hyundai Commission.

The Turbine Hall is Tate Modern's defining space and arguably what makes it one of the most visited museum attractions in Europe, but in recent years it has become a contested area. The stick stockades and reindeer skulls of Sámi-Norwegian artist Máret Ánne Sara's 2025 commission — a response to the threatened way of life of the indigenous community that she was born into — highlighted for some how the Tate has come to favour the politics of issue-based art over the art itself.

There have been successes: Kara Walker's “Fons Americanus” (2019) was well-greeted by critics and public alike. But the greatest hits of the Turbine Hall's first 25 years, such as Olafur Eliasson's “The Weather Project” (2003) or Doris Salcedo's “Shibboleth” (2007) – aka “the crack” – have begun to seem a long time ago.

Against this backdrop, Atoui seems an inspired choice, offering something different and unusual, undaunted by the scale of the setting. His confidence is marked by the narrowing of the choices he's made. Atoui's practice is broad, "circulating between the worlds of music and visual art and education", he explains

He has explored traditional and ancient ways of making music alongside the digital and artificial; he's worked with people who are deaf and hard of hearing, examining the different ways that sound is perceived; he has documented the acoustic identities of port cities, mixing history, ecology and memory. Yet for the Turbine Hall commission, he spent time in the environment itself before deciding what instruments could work there.

“I ended up working with a restricted number of families of instruments,” Atoui says, “four of them actually, that I would say have acoustic qualities and sounds that benefit from the reverberance of the space and from the architectural and climatic conditions.”

He settled first upon the sheng, a mouth-played pipe instrument that dates back more than three millennia. "You find it from south to north in east Asia, and in every place it's a different material, with different tuning, different numbers of pipes, but the principle is the same," he says. "I collected these from across Asia, and even revived ones that were in museum collections."

That network of bamboo pipes above our heads will provide the computer-controlled breath that plays them. Then there are the karnai horns, traditional ceremonial instruments of Uzbekistan, blown up in scale via 3D printing from sugar resin and bamboo dust by London-based architect Arthur Mamou-Mani. The mighty Korean drums were made by a master drum-maker near Gwangju.

The fourth instrument — a collaboration with clothing designers Satoshi Kondo and Issey Miyake — is a specially developed fabric coated with graphite paint, which conducts electricity, making it an analogue oscillator. The idea originates from Atoui's work with members of the deaf community: in that project, he used graphite ink to create synthesised bass vibrations, allowing

ARTS

the person drawing with it to make music they could feel. The movement of the 30-metre-long textiles in the air currents of the room will generate music.

Finally, there are those stone slabs, which, Atoui says, have speakers within them to “trap the sound . . . by sitting on the stone or leaning against them, you also have this vibrational quality and physical feel of the sound, without it being too loud”.

That's an apt metaphor for the political element of his work: “The language of music and sound can have in it a lot of things that are induced by the political state of the world today, but not necessarily addressing them in a [direct] way. Sound allows you to open up this lyrical and imaginative space to talk in a different way.”

Atoui, 46, was born in Beirut five years into the Lebanese civil war, one of the most complex, multi-sided conflicts of our time. "The war was not a daily thing," he says.

"There were moments of intensity that were super intense, when you didn't even know who was fighting who, and moments when life would be back

---

即将出版的 2026 年期号

十月

十一月

17 - Wisely

24 - Property

31 - Travel

14 - Holiday

28 - Celebration

十二月

12 - Philanthropy

金融时报

在 12 个月的时间里，欧盟人口最多的五个成员国中的四个，以及四个较小的成员国将进行投票。该集团可能永远不会再像以前那样。作者：Ben Hall

📄 Original Section

'Sound allows you to open up this lyrical and imaginative space to talk in a different way'

to normal for a few months, a few weeks. Then it collapsed again."

“Childhood resists war much more than adulthood,” he adds. “You don’t know what a time of peace is, so you have nothing to compare it to.”

He was 10 when it ended, yet says it was only when he left to study in France

Left: Tarek Atoui photographed for the FT by Matilda Hill-Jenkins; below: drum-like displays are surrounded by pipes

in his late teens that he began to recognise the strangeness of never having learnt to ride a bicycle nor been taken to a park.

Both his parents were teachers, but his mother's death when he was eight pushed him inside, to immerse himself in books and poetry. As life returned to the streets, and theatres began reopening in his teens, his cultural world expanded. He moved to Reims originally to study business and geopolitics, but was drawn to music via the techno and rave scenes.

For Atoui, the underground came before the avant-garde, Aphex Twin before John Cage. It was his interest in experimental electronic music that led to him “travelling backwards in time” to discover the groundbreaking artists of the decades after the second world war

– Cage and Ligeti, as well as Xenakis, remain important to him, but he embraces wider influences – architects, craftspeople, film-makers such as Pier Paolo Pasolini and Andrei Tarkovsky, artists such as “deep listening” pioneer Pauline Oliveros and Christian Marclay.

One of the most exciting and innovative elements of the commission will be the more than 40 musicians Atoui has invited to engage with the piece over the course of its run. Here is the influence of the experimental composer Atoui is, matched to his belief in improvisation: “You can come with just a simple instrument like a saxophone and play,” he says.

"There are microphones listening to you that will integrate your sound into the composition and transform it as well. But you can also plug in your control machines and use all the instruments, the drums, the flutes, and recompose a piece for the space."

It's no surprise that he has also spent time thinking about what has worked in the past. Had I noticed the playful references to what has gone before? The way the central drum nods to Eliasson's glowing "sun", and the fissures on the stone slabs to "the crack"? I hadn't, but I see them now. Perhaps 2mn others will get the chance to see — and hear — for themselves.

To April 11, tate.org.uk

Enjoy HTSI magazine, inside FT Weekend on the following dates:

选举超级周期将把欧洲推向右翼

在上周西班牙举行闪电议会选举期间，总理佩德罗·桑切斯（Pedro Sánchez）表示，西班牙人很快将不得不决定

是坚持他的左翼政府，还是“加入极右翼浪潮”。

11月29日的投票标志着西班牙政治在经历了八年社会党政府统治后的一个潜在转折点。民意调查显示，保守派人民党（PP）及其潜在合作伙伴——民族主义民粹主义政党Vox党将获得明显多数支持。

这也标志着一个欧洲一代人以来从未见过的激烈选举超级周期的开始。在12个月的时间里，欧盟人口最多的五个成员国中有四个将进行投票，另外四个较小的成员国也将如此。

这个拥挤的选举季将通过分散各国政府的注意力，并使领导人在欧盟预算等棘手问题上更不愿妥协，从而对欧盟产生影响，因为他们担心在竞选过程中被指责背叛国家利益。

但这个超级周期的异常之处不仅在于时间框架。

欧洲对外关系委员会（European Council on Foreign Relations）主任马克·伦纳德（Mark Leonard）表示：“这些选举在同一时间发生是非常非同寻常的，而且是因为其中正在发生非常、非常相似的动态。”

共同的趋势令人震惊。选民正广泛向右翼转移，中右翼政党与极右翼对手分享权力的意愿日益增强，这意味着所谓的不合作“防火墙”政策即将终结。极右翼本身也随着新兴政党的出现而激进化，例如意大利的“国家未来党”（National Future）和波兰的“波兰王冠联盟”（KKP）。与此同时，像德国选择党（AfD）这样较为成熟的政党，在接近权力中心的过程中变得更加极端，或拒绝温和化。

约翰·霍普金斯大学高级国际研究学院博洛尼亚分校教授娜塔莉·托奇（Nathalie Tocci）表示，如果民族主义右翼同时在西班牙、法国、波兰和意大利掌权，“我认为说这将是我们所熟知的欧盟的终结，并非夸张。”

西班牙将启动这一进程（保加利亚人将在10月25日投票选总统，但该职位权力有限），而意大利理论上可能会在明年12月之前的选举中结束这一进程，尽管选举可能会提前举行。

在此期间，法国将举行总统和议会选举——这可能是其中影响最深远的一次——以及波兰的立法选举。爱沙尼亚、芬兰、希腊和斯洛伐克将在明年举行议会投票。

人们甚至可以将德国纳入这个周期。虽然该国今年没有全国性选举，但4月的三场地区选举可能会导致总理弗里德里希·梅尔茨（Friedrich Merz）下台。在由其领导的基督教民主联盟（CDU）上个月在德国东部地区选举中惨败后，他似乎已处于权力末期。

在西班牙，人民党（PP）并未排除与Vox党合作（包括组建联合政府）的可能性，并且已经在几个地区政府中与其共同执政。

在法国，极右翼国民联盟（Rassemblement National）领导人玛丽娜·勒庞（Marine Le Pen）是总统选举的明显领先者，而她的主流对手则处于分裂状态，无法获得选民的认可。

乔治亚·梅洛尼（Giorgia Meloni）是一位民族主义民粹主义者，她执政期间将意大利在很大程度上作为传统保守派治理，她很有希望赢得第二个任期，但可能被迫将由亲俄前将军罗伯托·万纳奇（Roberto Vannacci）领导的“国家未来党”纳入她的执政联盟。

为什么欧洲的政治潮流在向同一个方向移动？

在波兰，从2015年到2023年执政的民族主义政党法律与公正党（PiS）在今年夏天分裂为两派，且支持率正大量流向另外两个更激进的右翼政党：联合党（Confederacja）以及由格热戈日·布劳恩（Grzegorz Braun）领导的具有排外和反犹主义色彩的波兰王冠联盟（KKP）。尽管如此，根据最近的一项民意调查，这四个右翼政党的合计支持率仍高达48%，仍有可能最终胜出。

欧盟此前曾在最高决策层面对过民族主义民粹主义者的挑战，例如当时的匈牙利总理维克多·欧尔班（Viktor Orbán）曾在多个方面挑战欧盟，并试图以支持乌克兰问题为筹码将其挟持。但此次选举超级周期的结果可能会更加严重。

“十多年来，极右翼一直是欧洲的一个问题，”欧洲改革中心（Centre for European Reform）主任查尔斯·格兰特（Charles Grant）表示，“但问题正在恶化。想要像欧盟对待维克多·欧尔班那样找到一种折中方案将变得更加困难。这种情况将变得更具系统性且更严重。”

“激进右翼在政治极度不确定的时期，成功捕捉到了一个非常明确的方向：我们要‘本国人民优先’。”

“本国人民优先”

上一次出现如此广泛的政治一致性是在一代人之前。1998年11月，格哈德·施罗德（Gerhard Schröder）在就任德国总理后首次出访伦敦，在那里他与托尼·布莱尔（Tony Blair）就社会民主主义的“第三条道路”方案达成共识，将经济自由主义与社会正义相结合。

当时，在欧盟15个成员国中，有11个国家由中左翼执政，另有两个国家由中左翼参与执政联盟。一些思想较为传统的社会主义者，如法国的利昂内尔·若斯潘（Lionel Jospin），对布莱尔和施罗德的中庸主义感到不满，但这些自称的现代化推动者拥有政治势头，并且在大西洋彼岸拥有一个强大的意识形态盟友——美国总统比尔·克林顿。

那也是欧洲充满乐观与进步的时代。经济强劲增长，欧盟正朝着即将推出单一货币的目标稳步前进。

快进三十年，如今处于被围攻状态的是亲欧盟的主流派。经济普遍疲软，生活水平受到挤压，公共财政承受严重压力，公共政策问题似乎难以解决。

欧洲对外关系委员会（ECFR）的伦纳德（Leonard）表示，现在是欧洲的本土主义政党觉得历史潮流在他们这一边，并且将另一位美国总统唐纳德·特朗普视为开拓者。

许多塑造欧洲选举趋势的力量是相同的，马德里IE大学政治学教授、比较政治学专家凯瑟琳·德弗里斯（Catherine de Vries）表示。

长期的人口和社会趋势侵蚀了政党忠诚度。政党体系碎片化，舆论两极分化。例如，法国最终可能会在一名极右翼候选人和一名极左翼候选人之间进行总统决选。人们对政治的看法变得更加负面，部分原因是社交媒体的影响以及经过编辑的传统新闻来源的衰落。

结果，欧洲现在正经历着前所未有的选举波动。越来越多的人在随后的选举中不再投票给同一个政党。德弗里斯表示，选民，尤其是年轻选民，日益表现得像“批判性消费者”。这是一个为那些能提供极具吸引力且简单信息的政治创业者量身定制的选票市场。

“激进右翼在政治极度不确定的时期，成功捕捉到了一个非常明确的方向：我们要‘本国人民优先’，优先于移民，优先于超国家机构，优先于对乌克兰的援助，”她补充道。

与此同时，德弗里斯表示，主流政党正因为缺乏意识形态的清晰度或缺乏解决公共政策问题的方案而受到惩罚。

在上个月萨克森-安哈尔特州和梅克伦堡-前波美拉尼亚州的州选举中，梅尔茨领导的基民盟（CDU）惨败，他承认基民盟“对于太多的问题不再有令人满意的答案”。

欧洲的民族主义民粹主义政党与极右翼政党之间存在许多政策分歧，尤其是在与俄罗斯的关系上。这些裂痕使得合作变得困难。例如，激进右翼政党在欧洲议会中分属于三个不同的党团。

但欧洲对外关系委员会（ECFR）的伦纳德表示，他们在几个方面却惊人地相似。

他们对自由主义和全球化的失败持有类似的批评，并将此与“危机创业”相结合，根据当下的危机不断重塑自身。

德国选择党（AfD）起初是一个在欧元区债务危机期间反对救助希腊及其他欧盟南部成员国的运动，在 2015-16 年移民涌入期间演变为一个反移民政党，在疫情期间利用反疫苗情绪，而现在则利用能源价格冲击来反对绿色转型，并主张与俄罗斯恢复关系。

这类政党还将目标锁定在那些没有感受到全球化红利的人群，尤其是受教育程度较低的工人阶级选民。此外，其政策方案的核心是重新强调国家文化和控制，这转化为具体的政策，例如在福利、就业或公共合同方面，优先考虑法国公民而非外国国民，即使是拥有居留权的外国人。

最后，它们都是数字原住民政党，非常适应一个“挑衅即流量”的算法信息空间。

上个月在意大利南部的一场补选中，凡纳奇（Vannacci）表示，他的“国家未来党”（National Future）如果获胜将成为“我们的萨克森”，这指的是 AfD 在 9 月初萨克森-安哈尔特州地区选举中取得的惊人胜利。但凡纳奇的政党未能赢得该席位。

---

与布鲁塞尔的碰撞路线

多年来，极右翼支持率的上升一直将中右翼政党和政府向右拉拢，尤其是在移民和庇护问题上，他们日益挑战本国的国际法和欧洲法律义务。

中左翼政党也受到了同样的影响，特别是在丹麦、瑞典和英国，这些国家大幅收紧了在移民和 / 或融合方面的立场。

但现在，是民族主义民粹主义

成熟的极右翼政党在接近权力时，变得更加极端或拒绝温和。下图：AfD候选人在近期的州选举期间庆祝

Laurent Cipriani / AP; Clemens Bilan / EPA

“问题正在恶化。寻找解决办法将变得更加困难。这种情况将变得更加系统化且严重”

政党正被像凡纳奇（Vannacci）这样更激进的挑战者向右拉拢，后者指责总理梅洛尼背叛。

“当激进右翼已经在政府中时，你如何创新？通过变得更加极端吗？”德弗里斯（de Vries）表示。

为了在面对凡纳奇时巩固自己的右翼阵线，梅洛尼强化了她的右翼资历，在今年夏天早些时候就非法移民问题与西班牙社会党政府发生争执，并禁止在学校穿着布卡（burka）全身长袍和全脸面纱。

在布鲁塞尔和其他欧洲首都，梅洛尼被视为民族主义民粹主义者在掌权后如何走向温和的典范。作为总理，梅洛尼在布鲁塞尔很大程度上循规蹈矩，遵守欧盟的财政规则，与欧盟委员会合作，并与其他欧盟领导人协作。她也是乌克兰的坚定支持者。

“有时政治的演变方式令人惊讶，”波兰外交部长拉德克·西科尔斯基（Radek Sikorski）说，“例如，我们欣赏梅洛尼总理及其立场。”

但考虑到来自凡纳奇的竞争，梅洛尼的温和“模式”并不保证能持久。此外，欧盟为意大利提供的€200bn疫情恢复基金即将结束，而该基金曾赋予布鲁塞尔对罗马重要的影响力。

其他极右翼政党则在挑战一种预期，即他们随着接近权力必然会变得温和。事实上，他们将梅洛尼视为叛徒。AfD看来将在萨克森-安哈尔特州执政，但该州的分支机构已被德国国内安全部门宣布为“右翼极端主义”。在领导人赫伯特·基克尔（Herbert Kickl）的带领下，奥地利自由党变得更加激进，在民调中以39 per cent的得票率遥遥领先。

法国的勒庞在温和化方面采取了一些措施。十多年来，她一直试图通过根除公开的种族主义元素来使该党“去毒”。最近，她致力于通过承诺遵守类似于欧盟的赤字和债务规则（该党此前一直对此嗤之以鼻），来增强国民联盟（RN）在公共财政方面的可信度。

在其他方面，勒庞仍然是一个致力于与欧盟对抗的激进分子。她承诺，如果当选总统，明年将削减法国对欧盟预算€11bn的贡献，这将使她与布鲁塞尔及其他欧盟首都处于碰撞路线。

她将使法国退出欧盟的共同庇护政策，单方面退出单一市场的某些方面，同时在公共合同中优先考虑法国公司。她还将寻求修改法国宪法，以主张法国法律高于欧盟法律。

咨询公司欧亚集团（Eurasia Group）欧洲区董事总经理穆杰塔巴·拉赫曼（Mujtaba Rahman）表示，在这次选举超级周期中，欧盟仍有可能看到良性的结果，例如在波兰，由总理唐纳德·图斯克领导的中派能够坚持下去，而再次当选的梅洛尼能够坚持她的务实路线。

他补充说，一个由人民党（PP）和Vox党组成的政府甚至可能通过使西班牙更愿意抵制中国的贸易行为或增加国防开支，从而有助于欧盟的凝聚力，这与欧洲的主流方向一致。

“在我看来，这在很大程度上取决于法国问题，”拉赫曼表示。

即便勒庞未能赢得议会多数席位，作为总统，她也将拥有直接的授权和巨大的权力，而这正是像梅洛尼这样的人所缺乏的。她将在欧洲理事会中拥有强有力的发言权，该理事会汇集了欧盟 27 个成员国的国家领导人，负责制定该集团的战略方向及其外交政策。

乌克兰可能会成为最大的输家。勒庞表示，除了军事训练外，她将停止对基辅的双边援助；她对制裁俄罗斯持怀疑态度，并表示她绝不会同意乌克兰加入欧盟，或允许任何其他新成员加入。

“我最担心的是乌克兰，”拉赫曼说道，他提到整个欧盟内部对于提供更多资金或让基辅快速入盟的意愿正在下降。“在那里，似乎存在着日益增长的疲劳感——政治上的疲劳、公众舆论的疲劳，以及政策上的疲劳。”

在欧洲理事会内部，如果勒庞成为总统，她可能会与其他怀疑欧盟的领导人组成一个党团。这些领导人目前在布鲁塞尔还愿意配合，但对支持乌克兰的态度至多是冷淡。勒庞和梅洛尼也可能会联手。

“如果他们全部掌权，那么他们可以比只有其中一人掌权时表现得激进得多，”Sais Europe 的托奇表示。“这其中包含一个质量因素，而不仅仅是数量问题。一旦达到那个临界质量，你就可以完全摘下面具，不再需要伪装 [温和] 了。”

FINANCIAL TIMES

“无畏无私”

📄 Original Section

The election supercycle set to drag Europe right

alling snap parliamentary elections in Spain last week, prime minister Pedro Sánchez said Spaniards would soon have to decide

whether to stick with his leftwing government or "join the far-right wave".

The vote on November 29 marks a potential turning point in Spanish politics after eight years of socialist government, with opinion polls suggesting a clear majority for the conservative People's Party (PP) and its putative partner, the nationalist-populist Vox.

It also marks the beginning of an intense election supercycle the likes of which Europe has not seen in a generation. In the space of 12 months, four of the five biggest EU member states by population will go to the ballot box, as will four smaller ones.

This crammed election season will have an impact on the EU by distracting national governments and making leaders less willing to compromise on fraught issues such as the EU budget, for fear of being accused on the campaign trail of betraying the national interest.

But the supercycle is unusual not just for the timeframe.

"It is pretty extraordinary that these elections are happening at the same time, but also because there are very, very similar dynamics taking place," says Mark Leonard, director of the European Council on Foreign Relations.

The common trends are striking. There is a broad electoral shift to the right and a growing readiness among centre-right parties to share power with far-right rivals, spelling the end of so-called firewall policies of non-co-operation. The far right has itself radicalised with the arrival of new upstart parties such as National Future in Italy and the Confederation of the Polish Crown (KKP). At the same time, more established ones such as Alternative for Germany (AfD) are becoming more extreme or refusing to moderate the closer they get to power.

Nathalie Tocci, professor at the European campus of Johns Hopkins School of Advanced International Studies in Bologna, says that if the nationalist right held power in Spain, France, Poland and Italy all at once, “I don’t think it’s hyperbolic to say it’s the end of the European Union as we’ve known it.”

Spain will kick off the process (Bulgarians vote for their president on October 25 but the role has limited powers) and Italy could theoretically close it with elections due by December next year, although they are likely to come earlier.

In between, there are presidential and parliamentary elections in France – potentially the most consequential of them all – and legislative elections in Poland. Estonia, Finland, Greece and Slovakia will hold parliamentary votes next year.

One could even include Germany in this cycle. There are no national elections in the country this year. But three regional ones in April could spell the end for Chancellor Friedrich Merz, who appears to be living on borrowed time after his Christian Democratic Union took a hammering in regional elections in eastern Germany last month.

In Spain, the PP has not ruled out cooperating with Vox, including in a coalition, and already governs with it in several regional administrations.

In France, Marine Le Pen, the leader of the far-right Rassemblement National, is the clear frontrunner for the presidential election, while her mainstream opponents are divided and unable to find traction with voters.

Giorgia Meloni, a nationalist populist who has governed Italy largely as a traditional conservative, is well placed to win a second term, but may be forced to bring National Future, led by a pro-Russian former general Roberto Vannacci, into her coalition.

Why are the political currents in Europe moving in the same direction?

In Poland, the nationalist Law and Justice (PiS) party, which ran the country from 2015 to 2023, split in two this summer and is haemorrhaging support to two more radical right parties, Confederacja and the xenophobic and antisemitic Confederation of the Polish Crown (KKP) led by Grzegorz Braun. Still, the four rightwing parties enjoy a combined 48 per cent support, according to a recent opinion poll, and could yet come out on top.

The EU has grappled with nationalist populists at its top table before, such as when then Hungarian prime minister Viktor Orbán defied the EU on various fronts and tried to hold it hostage over support for Ukraine. But the outcome of this election supercycle could be more serious.

"The far right has been a problem for Europe for more than a decade, says Charles Grant, director of the Centre for European Reform. "But the problem is getting worse. It is going to be harder to find a way to work around, as the EU did with Viktor Orbán. It is going to be more systematic and serious."

"The radical right has been able to capture, at a time of huge political uncertainty, a very clear direction: we're going to put "our people first"

'Our people first'

The last moment of such extensive political alignment was a generation ago. In November 1998, Gerhard Schröder made his first foreign visit as German chancellor to London, where he bonded with Tony Blair over ideas for a Third Way version of social democracy, melding economic liberalism and social justice.

At that point, the centre-left was in charge in 11 out of the EU's 15 member states and in coalition in a further two. Some more traditionally-minded socialists such as France's Lionel Jospin chafed at the centrism of Blair and Schröder, but the self-proclaimed modernisers had the political momentum and a powerful ideological ally across the Atlantic in President Bill Clinton.

It was also a time of optimism and progress in Europe. The economy was growing strongly and the EU was moving forward with the imminent launch of the single currency.

Fast forward three decades, and it is the pro-European mainstream that is under siege. The economy is generally weak, living standards are being squeezed, public finances are under severe strain and public policy problems seem intractable.

Now, says Leonard of the ECFR, it is Europe's nativist parties that feel like they have the tide of history behind them and another US president as trailblazer in Donald Trump.

Many of the forces shaping electoral trends in Europe are the same, says Catherine de Vries, professor of political science at IE University in Madrid and an expert on comparative politics.

Long-term demographic and social trends have eroded party loyalty. Party systems have fragmented. Opinion is polarised. France, for example, could end up with a presidential run-off between a far-right and far-left candidate. Perceptions of politics have been made far more negative, in part by social media and the demise of curated news sources.

As a result, Europe is now experiencing unprecedented electoral volatility. More and more people do not vote for the same party in subsequent elections. Voters, especially younger ones, increasingly act as critical consumers, de Vries says. It is a market for votes made for political entrepreneurs with attractively simple messages.

"The radical right has been able to capture, at a time of huge political uncertainty, a very clear direction: we're going to put 'our people first', over migrants, over supranational institutions, over contributions to Ukraine," she adds.

Meanwhile, de Vries says, mainstream parties are being penalised for their lack of ideological clarity or solutions to public policy problems.

After Merz's CDU was crushed in state elections in Saxony-Anhalt and Mecklenburg-Vorpommern last month, he conceded that the Christian Democrats "no longer have satisfactory answers to too many questions".

There are many policy differences between Europe's nationalist populist and far-right parties, particularly on relations with Russia. These fractures make co-operation difficult. Radical right parties belong to three different groups in the European parliament, for example.

But, says Leonard of the ECFR, they are strikingly similar in several respects.

They share a similar critique of the failures of liberalism and globalisation and they combine it with “crisis entrepreneurship”, reshaping themselves for the crisis of the moment.

Germany's AfD started off as a movement opposing bailouts for Greece and other southern EU members during the Eurozone debt crisis, became an anti-immigration party during the 2015-16 migrant influx, latched on to anti-vaccination sentiment during the pandemic and now uses the energy price shock to campaign against the green transition and in favour of a rapprochement with Russia.

Such parties also all target those who do not feel the benefits of globalisation, especially less-educated working-class voters. In addition, the core of their policy prescription is the reassertion of national culture and control, translating into a policy of favouring, for example, French citizens for welfare, jobs or public contracts over foreign nationals, even those with residency.

Finally, they are all digital-native parties, well attuned to an algorithmic information space where provocation gets views.

Campaigning in a by-election in southern Italy last month, Vannacci said victory for his National Future would be “our Saxony”, a reference to the AfD’s stunning win in regional elections in Saxony-Anhalt in early September. Vannacci’s party failed to take the seat.

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特朗普的俄罗斯柴油赌局既愤世嫉俗且注定失败

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📄 Original Section

A collision course with Brussels

Rising support for the far-right has for several years pulled centre-right parties and governments rightward, especially on immigration and asylum, where they increasingly challenge their countries' international and European legal obligations.

It has done the same to centre-left parties, particularly in Denmark, Sweden and the UK, which have drastically tightened up their stances on immigration and/or integration.

But now it is nationalist populist

Established far-right parties are becoming more extreme or refusing to moderate the closer they get to power. Below: AfD candidates celebrate during the recent state elections

Laurent Cipriani/AP; Clemens Bilan/EPA

'The problem is getting worse. It is going to be harder to find a way to work around. It is going to be more systematic and serious'

parties that are being pulled to the right by their more radical challengers, such as Vannacci, who accused Prime Minister Meloni of betrayal.

"When the radical right is already in government, how do you innovate? By going more extreme?" says de Vries.

In what looks like an attempt to shore up her right flank against Vannacci, Meloni has sharpened her rightwing credentials, picking a fight with Spain's Socialist government over illegal immigration earlier this summer and banning the burka head-to-toe dress and full-face veil in schools.

In Brussels and other European capitals, Meloni is seen as a model of how a nationalist populist moderates once in power. As prime minister, Meloni has largely toed the line in Brussels, complying with EU fiscal rules, co-operating with the European Commission and working with other EU leaders. She has also been a strong supporter of Ukraine.

“Sometimes the politics plays out in surprising ways,” says Radek Sikorski, Poland’s foreign minister. “We appreciate Prime Minister Meloni, for example, and her stand.”

But the Meloni moderation “model” is not guaranteed to last, given the competition from Vannacci. Furthermore, the EU’s €200bn pandemic recovery fund for Italy, which gave Brussels important leverage over Rome, is coming to an end.

Other far-right parties are defying expectations they will inevitably moderate as they approach power. Indeed, they regard Meloni as a sellout. The AfD looks set to take office in Saxony-Anhalt, yet its regional branch there has been declared “rightwing extremist” by Germany’s domestic security service. Austria’s Freedom party has become even more radical under leader Herbert Kickl and is way ahead at 39 per cent in opinion polls.

Le Pen in France has taken some steps towards moderation. For more than a decade she has tried to “detoxify” the party by rooting out overtly racist elements. More recently, she has set out to bolster the RN’s credibility on the public finances by committing to deficit and debt rules akin to the EU ones the party has hitherto scorned.

In other respects, Le Pen remains a radical set on confrontation with the EU. If elected president, she has pledged to cut €11bn from France's contribution to the EU budget next year, putting her on a collision course with Brussels and other EU capitals.

She would pull France out of the EU's common asylum policy and unilaterally withdraw from aspects of the single market, while giving preference to French companies in public contracts. She would also seek to change the French constitution to assert the supremacy of French law over EU law.

Mujtaba Rahman, managing director for Europe at Eurasia Group, a consultancy, says it is possible to still see a benign outcome for the EU in this election supercycle, where the centre under Prime Minister Donald Tusk holds on in Poland and a re-elected Meloni sticks to her pragmatic course.

A PP/Vox government could even help the EU's coherence by making Spain more willing to stand up to Chinese trade practices or increase defence spending, he adds, in line with the European mainstream.

"It really hangs on the France question to my mind," Rahman says.

Even if she failed to win a parliamentary majority, Le Pen would have a direct mandate and a lot of power as president, which Meloni, for example, lacks. She would be a strong voice in the European Council, which brings together the EU's 27 national leaders, and sets the bloc's strategic direction and its foreign policy.

Ukraine could be the biggest loser. Le Pen says she would stop bilateral aid to Kyiv apart from for military training, is sceptical about sanctions on Russia and has said she would never agree to Ukrainian membership of the EU, or any other new member.

“I worry most about Ukraine,” says Rahman, citing growing reluctance across the bloc to provide more funding or a speedy accession for Kyiv. “That’s where there just seems to be growing fatigue, growing political fatigue, public opinion fatigue, but also policy fatigue.”

Inside the European Council, a President Le Pen could form a caucus with other Eurosceptic leaders who have so far played ball in Brussels but who are lukewarm at best about supporting Ukraine. Le Pen and Meloni might also join forces.

“If they are all in power, then they can afford to be way more radical than if only one of them were in power,” says Tocci of Sais Europe. “There’s a quality element to this, not just a quantity. Once you get to that critical mass, you can afford to completely lower the mask. You don’t need to pretend [to be moderate] any more.”

FINANCIAL TIMES

'Without fear and without favour'

ft.com/opinion

总统冒着损害乌克兰的风险，试图遏制由其自身战争推高的价格

唐纳德·特朗普在努力安抚下月中期选举前的选民时，其行径已跌至新低。由于美国民众正承受着创纪录的柴油价格——这几乎完全是总统与伊朗之间那场考虑不周的战争所导致的结果——他的政府在过去几天中陷入了外交上的极度扭曲，试图寻求一个权宜之计，而这一方案却削弱了乌克兰对抗弗拉基米尔·普京领导的俄罗斯的斗争。

周五，特朗普宣布与普京达成一项协议，将俄罗斯柴油供应投放至全球市场，这损害了旨在剥夺莫斯科用于资助其非法入侵乌克兰之收入的国际制裁。随后在周末，美国官员威逼基辅停止对俄罗斯炼油厂的袭击，并向欧洲各国首都施压，要求其向盟友（乌克兰）施压。《金融时报》报道称，这些官员在提出要求时，威胁要切断与乌克兰的情报共享，以及切断乌克兰在北约管理机制下获取美国制造武器的渠道。

更甚者，周日，特朗普在他的社交平台 Truth Social 上声称，乌克兰和俄罗斯已同意达成一项“能源停火”。双方均未确认该协议。乌克兰总统泽连斯基昨天表示，俄罗斯的无人机和导弹在夜间继续袭击乌克兰的电力和天然气设施。泽连斯基讽刺道：“普京不看 Truth Social。”

特朗普的计划中有许多令人谴责之处。首先，它削弱了乌克兰的筹码。一项全面的能源停火协议可以在冬季到来前，让基辅在电网遭受袭击方面获得急需的缓解。但据报道，目前的提案仅限于炼油厂，这有利于拥有更多设施需要保护的莫斯科，同时剥夺了乌克兰宝贵的杠杆。此外，正如欧盟外交政策负责人卡娅·卡拉斯（Kaja Kallas）所警告的，普京是否会遵守任何协议并无保证。如果美国兑现撤回对乌支持的威胁，将进一步削弱基辅的防御能力和谈判地位。

其虚伪程度同样令人震惊。特朗普此前曾痛斥印度和中国购买俄罗斯石油，并威胁对其采购实施制裁，而现在他却在亲自寻求促进俄罗斯柴油出口。这只会损害西方孤立普京努力的可信度，使得说服其他国家共同承担经济成本变得更加困难。

即便撇开原则不谈，该政府的计划也无法给消费者带来太多缓解。美国柴油价格依然高企，而增加的俄罗斯供应量将十分有限。作为衡量，如果莫斯科按照承诺在下个月出口50万吨，

由于未能预见到他在伊朗的“小规模出击”所产生的影响，这位美国领导人现在正急于从普京那里寻求快速解决方案

这将不足全球需求的 4%。分析人士还指出，俄罗斯国内的燃料短缺和炼油厂损坏可能会限制其出口，而任何持续的缓解都将取决于停火协议能否维持。

该协议在国内也面临反对，包括共和党参议员在内的部分人士要求特朗普改变方向，认为这违反了 2022 年美国禁止进口俄罗斯能源的禁令。

无论特朗普的计划结果如何，它都凸显了欧洲加强自身防御、减少对华盛顿依赖并坚定执行对俄制裁的必要性。特朗普未能预见到他在伊朗的“小规模出击”对霍尔木兹海峡航运的影响，现在正急于从普京那里寻求快速解决方案，而似乎完全没有考虑对乌克兰造成的后果。这又是一次短视且混乱的决策实践，冒着造成持久损害而收益甚微的风险。

观点技术

为什么 AI 不会杀死创意阶层

Ewan White

Richard Florida

自从生成式 AI 出现以来，人们一直在为创意阶层撰写讣告。既然机器可以完成这些工作，我们为什么还需要音乐家、艺术家、设计师、程序员或作家？

最近的一项研究似乎为这一指控提供了新的证据。该研究引用了过去四年中媒体、电影和艺术领域流失的 200,000 多个工作岗位。但这些损失不能仅归因于 AI。它们还反映了疫情后流媒体行业的收缩、2023 年好莱坞罢工的持续影响，以及生产线的海外转移。

这并非技术首次颠覆工作。制造业曾是发达经济体的主要引擎。如今，从事生产职业的工人占

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📄 Original Section

The president risks harming Ukraine to curb prices driven up by his own war

Donald Trump has stooped to new lows in his efforts to placate voters ahead of next month's midterm elections. With US households reeling from record diesel prices — almost entirely a consequence of the president's ill-conceived war with Iran — his administration has lurched through days of diplomatic contortions in pursuit of an expedient solution that undermines Ukraine in its fight against Vladimir Putin's Russia.

On Friday, Trump announced a deal with Putin to release Russian diesel supplies on to global markets, compromising international sanctions designed to deprive Moscow of revenues that help fund its illegal invasion of Ukraine. Over the weekend, US officials then bullied Kyiv to halt its strikes on Russian oil refineries and pressed European capitals to lean on their ally. The officials backed their demand with threats to cut off intelligence sharing with Ukraine and its access to US-made weapons under a Nato-administered scheme, the FT reported.

To top it off, on Sunday, Trump claimed on his social media platform, Truth Social, that Ukraine and Russia had agreed to an “energy ceasefire”. Neither side has confirmed the agreement. Ukrainian President Volodymyr Zelenskyy said yesterday that Russian drones and missiles had continued to strike Ukrainian power and gas facilities overnight. “Putin does not read Truth Social,” Zelenskyy quipped.

There is much to deplore in Trump's scheme. For one, it weakens Ukraine's hand. A comprehensive energy ceasefire could offer Kyiv much-needed relief from attacks on its electricity grid ahead of winter. But the current proposal is reportedly limited to oil refineries, benefiting Moscow, which has far more facilities to protect, while depriving Ukraine of valuable leverage. Moreover, as EU foreign policy chief Kaja Kallas has warned, there is no guarantee Putin would honour any agreement. And if the US followed through with its threats to remove support for Ukraine, that would further weaken Kyiv's defences and negotiating position.

The hypocrisy is equally glaring. Having lambasted India and China for buying Russian oil, and threatened sanctions over their purchases, Trump is now seeking to facilitate Russian diesel exports himself. This only undermines the credibility of western efforts to isolate Putin, making it harder to persuade other countries to bear the economic costs of doing so too.

Even setting principle aside, the administration's plan won't deliver much respite for consumers. US diesel prices remain elevated, while the additional Russian supplies would be modest. For measure, if Moscow exported half a million tonnes next month, as

Having failed to anticipate the impact of his 'little excursion' in Iran, the US leader is now scrambling for a quick fix from Putin

pledged, that would amount to less than 4 per cent of global demand. Analysts also point to domestic fuel shortages and refinery damage that could constrain Russian exports, while any sustained relief would depend on a ceasefire that holds.

The deal faces opposition at home, too, with Republican senators among those demanding Trump reverse course, arguing that it violates a 2022 US ban on Russian energy imports.

Whatever comes of Trump's plan, it underscores the need for Europe to strengthen its own defences, reduce its reliance on Washington and hold firm on sanctions against Russia. Having failed to anticipate the impact of his "little excursion" in Iran on shipping through the Strait of Hormuz, Trump is now scrambling for a quick fix from Putin, seemingly without considering the consequences for Ukraine. It is yet another exercise in short-sighted, chaotic decision-making that risks doing lasting damage for little gain.

Opinion Technology

随着 AI 接管常规认知工作，独特的人类能力将变得更加重要

仅占美国劳动力的 5%。随着机器承担了更多体力任务，工作的性质已转向创意与创造力。

创意阶层的崛起本身就是这种转型的产物。这个阶层由科学家、工程师、技术专家、设计师、医生、律师、管理人员、企业家、教育工作者、艺术家、作家和音乐家组成，其规模已从 1900 年的美国劳动力的约 10 per cent 增长到如今的 70mn 名从业者。

一项利用瑞典就业数据开展的新研究显示了技术变革如何重塑工作。由新技术直接创造的职业（如打孔卡操作员和计算机程序员）往往规模较小且不稳定，且许多职业在随后萎缩或消失。而那些历史悠久的职业则耐用得多——如今 70 per cent 以上的工人从事的是 19 世纪末就已经存在的职业。技术并没有消除这些工作，而是改造了它们。

AI 可能会以类似的方式重塑创意阶层的工作。随着它接管更多常规认知工作，创造力、判断力、领导力和社交智能等独特的人类能力将变得更加重要。

这种转变已经在专业服务领域显现。斯坦福大学最近的一项研究发现，在最容易受影响的职业中，22 至 25 岁的年轻员工被雇用的比例正在下降。但顶尖的律师事务所、咨询公司和会计师事务所仍在继续招聘年轻人。这些公司不再主要雇佣他们来从事枯燥的研究和分析，而是在寻找能够理解客户、建立关系、赢得业务、领导团队并最终成为公司高级领导者的人才。

一个更能揭示将如何重塑工作的窗口来自数字创作者——这些人利用数字平台将自己的创造力转化为受众、企业和收入。由包括好莱坞资深人士在内的小型创作者团队制作的社交媒体微短剧的成功，凸显了这种模式日益增长的重要性。将使更多个人和小团队能够完成曾经需要大型组织才能完成的工作。

创作者所依赖的技能指向了未来的另一个方面。对 500 多个职业的分析发现，这些技能与演员、调酒师、理发师和私人教练的技能最为匹配——这些职业具有“魅力溢价”，奖励个性、信任和人际连接。

但这种转变绝非全然良性。社交媒体的兴起使得外在吸引力比实质内容更重要——人们关注的是外貌和自我呈现，而非知识、创造或成就。可能会加剧这种动态。

一个更大的危险是不平等。我们已经看到了“超级巨星经济”的兴起，极少数顶层人士攫取了不成比例的收益。尽管人们关注像 MrBeast、Charli D'Amelio 和 KSI 这样拥有数千万甚至数亿粉丝并赚取数百万加元的超级创作者，但实际上只有 2 per cent 的创作者年收入达到 $100,000 或更多，而大约五分之四的人收入低于 $10,000，近 40 per cent 的人没有收入。如果不加以控制，可能会延伸这种“赢家通吃”的动态。

然而，这一切并非不可避免。最成功的地方和组织是那些能够利用绝大多数人创造力的组织。有潜力为更多的人提供开发创造力并将其投入生产性用途的工具。

因此，任务不在于保护创意阶层免受影响，而在于利用来释放深藏在我们每个人体内的独特人类创造力。

作者是范德堡大学教授、克雷斯基基金会（Kresge Foundation）研究员，以及《创意阶层的崛起》（The Rise of the Creative Class）一书的作者。

Letters

加利福尼亚州的亿万富翁税可能弊大于利

爱德华·卢斯（Edward Luce）关于加利福尼亚州财政状况的深度评论文章忽略了 1978 年第 13 号提案（Proposition 13）对州财政产生的剧烈影响，该提案造成了这样一个局面：这个“黄金之州”依赖其最富裕居民的纳税来维持生计（见 10 月 7 日评论版《加利福尼亚州的寡头税将改变美国》）。

第 13 号提案限制了地方政府提高财产税的能力，从而严重影响了该州增加公共服务收入的能力。由于这一延续至今的安排，该州依赖高收入申报者的税收来平衡年度预算。州财政面临的额外压力还可以归结为时任州长阿诺德·施瓦辛格在 2004 年大幅削减车辆登记费。

基于这些事实，如果拟议的亿万富翁税获得通过，随着更多超富裕居民寻求在佛罗里达州、德克萨斯州和内华达州寻找避税天堂，加利福尼亚州将面临更大的预算挑战。预算影响不会立即显现，但随着更多富人迁往其他地区并将税款交给其他州，赤字将随时间而增加。

加利福尼亚州人有理由讨论联邦预算削减对

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📄 Original Section

As it takes over routine cognitive work, distinctly human capabilities will become more important

just five per cent of the US workforce. As machines have taken on more physical tasks, the nature of work has shifted towards ideas and creativity.

The rise of the creative class was itself a product of that transformation. Made up of scientists and engineers, technologists and designers, doctors and lawyers, managers and entrepreneurs, educators, artists, writers and musicians, this class has grown from about 10 per cent of the US workforce in 1900 to more than 70mn workers today.

A new study drawing on Swedish employment data shows how technological change reshapes work. Occupations created directly by new technologies, such as punch-card operators and computer programmers, tend to remain small and unstable, and many shrink or disappear. Long-established ones are far more durable

– more than 70 per cent of workers today are employed in occupations that existed in the late 19th century. Rather than eliminating these jobs, technology has transformed them.

AI is likely to reshape creative class work in a similar way. As it takes over more routine cognitive work, the distinctly human capabilities of creativity, judgment, leadership and social intelligence will become more important.

This shift is already playing out in professional services. A recent Stanford study finds that young workers aged 22 to 25 are being hired at lower rates in occupations most exposed to AI. But elite law, consulting and accounting firms continue to hire young people. Instead of hiring them primarily to grind through research and analysis, they are now looking for people who can understand clients, build relationships, win business, lead teams and ultimately become the firms' senior leaders.

An even more revealing window into how AI is likely to reshape work comes from digital creators – people who use digital platforms to turn their creativity into audiences, enterprises and income. The success of social media micro-dramas, made by small teams of creators including Hollywood veterans, highlights the growing importance of this model. AI will enable more individuals and small teams to do work that once required large organisations.

The skills that creators rely on point to another part of this future. Analysis of more than 500 occupations found that these skills most closely match those of actors, bartenders, hairdressers and personal coaches — occupations which carry a charisma premium, rewarding personality, trust and human connection.

But this shift is far from benign. The rise of social media has put a premium on physical attractiveness over substance — on how people look and present themselves rather than what they know, create or accomplish. AI is likely to accentuate this dynamic.

An even larger danger is inequality. We have seen the rise of a superstar economy in which a small number of people at the top capture a disproportionate share of the rewards. For all the attention paid to superstar creators like MrBeast, Charli D'Amelio, and KSI, who have tens or even hundreds of millions of followers and make millions of dollars, just 2 per cent of creators make \$100,000 or more a year, while roughly four in five earn less than \$10,000 and nearly 40 per cent earn nothing. Left unchecked, AI is likely to extend this winner-take-all dynamic.

Yet none of this is inevitable. The most successful places and organisations are those that harness the creativity of the greatest number of people. AI has the potential to give far more people the tools to develop their creativity and put it to productive use.

So the task is not to protect the creative class from AI, but to use it to unleash the distinctively human creativity that lies deep within all of us.

The writer is a professor at Vanderbilt University, a fellow of the Kresge Foundation and author of 'The Rise of the Creative Class'

Letters

法国主权债务：这是需要关注的数字

《金融时报》关于法国的深度报道（10 月 6 日《在债券市场与路障之间》）正确地强调了法国主权债务市场不断积聚的压力。

正如文章所解释的，德国 10 年期国债（Bunds）与法国政府债券（OATs）之间的利差是需要关注的关键指标。如果相对于德国的利差持续超过 150 个基点，将预示着法国是否仍被视为欧盟货币联盟的核心部分。

如果法国 10 年期国债收益率为 5%，而德国国债接近 4%，情况将非常令人不安，但尚在可控范围内。

然而，如果利差升至 150 个基点以上，政治后果可能与财务后果一样重大。这将使主权信用成为政治辩论的中心，从而施加政府在 10 年多来一直很大程度上予以回避的约束。

欧洲中央银行将希望介入，但它无法无限期地压制投资者认为由基本面支撑的风险溢价。

法国面临的问题不再是行动是否必要，以及政治体系能否达成共识并拥有勇气去进行许多投资者认为早已过期的调整。由于利差已接近 140 个基点，这就是需要关注的数字。

尼古拉斯·布雷托（Nicolas Breteau）

TP ICAP 集团首席执行官，英国伦敦 EC2

如果您对《金融时报》针对您投诉的回复不满意，可以向《金融时报》编辑投诉专员提出申诉：complaints.commissioner@ft.com

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总理的工作经验承诺面临障碍

贵报关于保障规则如何威胁首相安迪·伯纳姆（Andy Burnham）工作经验计划的报道，应当引起任何关心年轻人前景的人的关注（见10月8日报道《导师称规则使工作经验推广面临风险》）。

“全民未来”（Futures for All）是英国最大的学龄工作经验提供机构。在过去三年中，我们的供应量增长了四倍，在2025-26年度超过了16,000周。其中的每一周都取决于雇主的同意。

要实现政府为每位年轻人提供两周工作经验的承诺，意味着每年需要寻找约750,000个实习岗位。这取决于更多数以千计的雇主参与其中，并且要让他们能够简单地参与。

保障儿童安全是不容谈判的，我们支持这些变更的目标。教育部表示，针对接触儿童的员工进行的披露与禁止服务（DBS）检查并非强制性，雇主必须决定是否需要这些检查。这反而说明了问题所在，而非解决了问题，因为它要求小型

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请附上白天的电话号码和详细地址勘误：corrections@ft.com

州政府的项目，这些项目是由特朗普政府强加的。他们应该利用集体智慧寻找其他长期解决方案来应对财政赤字，而不是采取一次性税收，因为从长远来看，这可能对该州弊大于利。克里斯蒂安·B·蒂特（Christian B Teeter），美国加利福尼亚州洛杉矶圣玛丽山大学工商管理教授

企业主去解读保障法律。面对这种情况，再加上每位主管约£90的费用，最简单的答案就是拒绝。

而失去机会的将是那些没有家庭关系来帮他们寻找岗位的学生。对于他们来说，工作经验可能是初次接触那些他们从未考虑过的职业。

部长们应尽快发布清晰且对雇主友好的指南。他们还应为工作经验主管提供与志愿者相同的免费DBS检查。否则，一项出于好意的保障措施将为那些最需要机会的年轻人关闭大门。

尼克·布鲁克（Nick Brook）

“全民未来”首席执行官，英国伦敦 SE1

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📄 Original Section

French sovereign debt: here's the number to watch

The FT Big Read on France (“Between bond markets and the barricades”, October 6) is correct to highlight the pressure building in French sovereign debt markets.

As the article explains, the spread between 10-year German Bunds and French government bonds (OATs) is the crucial metric to watch. A sustained spread of more than 150 basis points over Germany will signal whether France is considered part of the core of the EU's monetary union.

A French 10-year yield of 5 per cent with the Bund close to 4 per cent would be deeply uncomfortable but manageable.

However, if spreads rise beyond 150 basis points, the political consequences may prove as significant as the financial ones. It would bring sovereign credibility to the centre of the political debate, imposing constraints that governments have largely avoided for more than a decade.

The European Central Bank will want to step in, but it cannot indefinitely suppress a risk premium that investors believe is justified by the fundamentals.

The question facing France is no rates, severely impacting the state's ability to grow revenue for public services. Because of this arrangement, which prevails to this day, the state relies on the taxes of high-income filers to balance its annual budget. Additional pressures on state finances can be put down to then Governor Arnold Schwarzenegger's sharp reduction in the vehicle licence fee in 2004.

Given these facts, California will face

longer whether action will be required, but whether the political system can assemble the consensus and the courage to undertake adjustments that many investors believe are already overdue. With the spread already close to 140 basis points, that is the number to watch.

Nicolas Breteau

Chief Executive, TP ICAP Group, London EC2, UK

If you are not satisfied with the FT's response to your complaint, you can appeal to the FT Editorial Complaints Commissioner: complaints.commissioner@ft.com

greater budget challenges as more of its ultra-wealthy residents seek tax havens in Florida, Texas and Nevada if the proposed billionaire tax is approved. The budget impact won't be felt immediately, but over time, the deficits will rise as more wealthy people decamp to other locales, paying their tax dollars to other states.

Californians are right to debate the merits of the federal budget cuts to the

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他或许已“结账离场”，但阿彻的书作长存

在塞恩斯伯里（Sainsbury's）结账台排在我前面的人，在杂货、一包知名品牌啤酒和一瓶金酒之外，还放了一本厚厚的杰弗里·阿彻（Jeffrey Archer）精装书。我之前没注意到这家分店也卖书。尽管我不是阿彻的读者，但不知为何，这让我感到欣慰。能给生者留下启发之迹，真是太好了（见10月10日讣告）。杰奎琳·卡斯尔斯（Jacqueline Castles），英国伦敦 W2

展望

澳大拉西亚

📄 Original Section

PM's work experience promise faces hitch

Your report on how safeguarding rules threaten Prime Minister Andy Burnham's work experience plans should concern anyone who cares about young people's prospects ("Work experience push at risk over rules, say tutors", Report, October 8).

Futures for All is the UK's largest provider of school-aged work experience. Our provision has quadrupled over the past three years to more than 16,000 weeks in 2025-26. Every one of those weeks depended on an employer saying yes.

Meeting the government's pledge of two weeks' work experience for every young person means finding around 750,000 placements a year. That depends on thousands more employers taking part, and on making it simple for them to do so.

Keeping children safe is non-negotiable, and we support the aim of these changes. The Department for Education says Disclosure and Barring Service (DBS) checks for employees who come into contact with children are not mandatory and employers must decide whether they are needed. That illustrates the problem rather than solving it, because it asks small

Email: letters.editor@ft.com

Include daytime telephone number and full address Corrections: corrections@ft.com

state's programmes, imposed by the Trump administration. They should use their collective wisdom to find other, long-term solutions to address fiscal deficits, instead of one-off taxes that could do the state more harm than good over the long run. Christian B Teeter Professor of Business Administration, Mount Saint Mary's University, Los Angeles, CA, US

business owners to interpret safeguarding law. Faced with that, and a bill of about £90 per supervisor, the easiest answer is no.

Those who lose will be pupils without family connections to find placements for them. For them, work experience may be a first glimpse of careers they had never considered.

Ministers should urgently publish clear, employer-friendly guidance. They should also give work experience supervisors the same free DBS checks that volunteers already receive. Otherwise, a well-intentioned safeguard will close doors for young people who most need them opened.

Nick Brook

CEO, Futures for All, London SE1, UK

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两只负鼠的故事

作者：Nic Fildes

在我八岁那年，父亲把我叫到我们位于墨尔本郊区的花园里，给我看了一具小负鼠的尸体，它在电线上被电死了。我们决定不把它埋掉，而是把它留下来，用微波炉烘干皮毛，然后将其制成标本。在接下来的三十多年里，“负鼠珀西”一直站在它专属的架子上，凝视着每一位访客。

刷尾负鼠是一种活泼的有袋类动物，在其原产地澳大利亚受到尊重。这些夜行生物（其名称被用于埃德娜·埃弗里奇夫人著名的问候语中）在澳大利亚城市的数千栋房屋和棚屋的屋顶上找到了舒适的家。

尽管有一些令人不悦的习惯，包括像女妖一样尖叫以及在屋顶大吵大闹，但负鼠在这里是受保护物种。驱逐工作必须由专业人员处理，将动物移走并释放回野外。

但在新西兰则不然。在海峡对面，负鼠与野猫、白鼬和老鼠一样，被列为需要根除的害虫。

新西兰没有本土哺乳动物——只有鸟类和蜥蜴。19世纪，负鼠被引入新西兰作为食物、皮革和皮毛的来源，由于没有天敌来控制数量，其数量迅速增加。目前该国有约3000万只负鼠，它们破坏树木并捕食当地动物，包括可爱奇异鸟的蛋。

猎人们每年用毒药和陷阱捕杀多达200万只负鼠，并将这项业务发展成了一项家庭工业。以披风和其他服装形式呈现的“负鼠美利奴羊毛”现在是奥克兰和皇后镇机场免税店以及高端户外服装店中最受欢迎的当地产品之一。新西兰皮毛协会估计，负鼠服装每年产生 NZ $150mn 的销售额，并支撑着 1,500 名工人。

新西兰人认为负鼠皮毛符合伦理，因为这些动物并非养殖。他们还指出一个使其适合制作衣服的迷人特性：其皮毛是中空的——这一特点与北极熊相同。这意味着它柔软、轻便，永不结冰且能防水。“极好的材料，”普克科黑（Pukekohe）最大的负鼠美利奴产品制造商之一 Lothlorian Knitwear 的总经理罗斯·古丁（Ross Goodin）说道。

但这个蓬勃发展的负鼠产业链有一个致命缺陷——如果新西兰的“Predator Free 2050”根除计划证明有效，原材料将会耗尽。

澳大利亚能填补这个空白吗？关于伦理皮毛的论点可能与 K-leather（袋鼠皮）的支持者产生共鸣——当地足球鞋使用的袋鼠皮是必要剔除过程中的副产品。根据澳大利亚野生动物工业委员会的数据，澳大利亚每年商业收获约150万只巨有袋类动物（包括袋鼠、华拉比和小袋鼠）。大多数袋鼠肉最终变成了狗粮，这也是许多新西兰负鼠的命运。

这种情况是有先例的。由于塔斯马尼亚岛州拥有大量的负鼠，那里已经有了小规模的负鼠产业。而且澳大利亚过去也曾尝试使用深受喜爱的本土动物皮毛。

由出生于新西兰的作者多萝西·沃尔（Dorothy Wall）撰写的儿童书《眨眼比尔》（Blinky Bill）以一个令人心碎的场景开篇：一只考拉被猎人射杀，被留在那儿，“身上布满弹孔，无助地挂在树顶”，在家人面前死去。书中随后告诉年轻读者，在 1920 和 1921, 之间，有超过 205,000 只考拉为了皮毛而被杀，并在国际市场上作为“袋熊”出售。

然而，这并不是一个受欢迎的决定。澳大利亚在 1930 之前就禁止了这种做法，因为考拉种群几乎被灭绝。它们的数量至今从未恢复。

目前，澳大利亚大陆上的负鼠们可以在它们球形的巢穴中安稳入睡。

墨尔本大学的学者贝瑟尼·基斯（Bethany Kiss）认为，这种有袋动物的存在应当被视为一件值得庆祝的事，因为它们能为新一代城市儿童提供关于生物多样性的重要提醒。通过与人类共存，它们发挥的作用甚至比它们的皮毛价格更有价值。“有负鼠居住的房子感觉没那么孤独，”她说。

nic.fildes@ft.com

究竟是谁在雇佣你——人力资源部还是网络安全部门？

就业 Sarah O'Connor

如果在一场求职面试中，你被要求在脸前举起三根手指，你会怎么想？也许是你表现得太糟糕，以至于他们在检查你是否脑震荡？更可能的情况是，招聘人员正试图确认你不是一个 AI 深度伪造（deepfake）的虚拟人。

雇主们正尝试各种手段来打击招聘过程中欺诈性的 AI 使用。有些求职者利用聊天机器人虚报能力，从而骗取他们无法胜任的工作；或者付费雇佣“面试代考”来替他们完成评估。更危险的是，一些黑客试图通过虚假身份获得雇佣，以便访问内部系统，甚至有些远程 IT 工作人员最后被发现其实身在朝鲜。研究公司 Gartner 预测，到 2028 年，全球每四个候选人档案中就有一个是伪造的。

这一切导致了公司内部的文化冲突。人力资源（HR）和招聘领域原本温情且人性化的氛围，现在必须学习如何与网络安全领域充满怀疑的精神协作。

一个例子是：HR 平台 Deel 在 8 月收购了 AI 网络安全公司 Clarity，旨在“在整个招聘和员工生命周期中嵌入持续的身份安全保障”。

曾在 Clarity 工作、现任 Deel Security 产品负责人的 Neev Wilf 告诉我就，“将 HR 和安全部门聚集在同一个房间里是很困难的”，因为他们“利益诉求不同”。安全团队通常希望“采取每一种保护措施，启用每一个功能，且贯彻到底”，但“与此同时，（招聘人员）会说‘这增加了候选人的操作摩擦’”。

这里所说的安全检查具体是指什么？招聘平台 Greenhouse 推出了一套系统，允许雇主要求求职者进行身份验证。Greenhouse 的首席执行官 Daniel Chait 告诉我：“有些人将其放在漏斗顶端，即流程的开始阶段，而有些人则将其放在更靠后的阶段。”

与此同时，Clarity 表示，它利用 AI 来检查视频面试中的“面部动作、唇形同步、眼球运动、语音模式”以及其他指标，并对这些指标进行交叉比对，例如

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📄 Original Section

A tale of two possums

by Nic Fildes

hen I was eight years old my father called me to our garden in suburban Melbourne and showed me the

corpse of a small possum that had electrocuted itself on the power lines. Rather than bury it, we decided to keep it, drying out its pelt in the microwave and then stuffing it. Percy the possum stared out at visitors from its own shelf for over three decades.

The brush-tailed possum, a rambunctious marsupial, is treated with respect in its native Australia. These nocturnal beasts, which lent their name to Dame Edna Everage's famous greeting, have found comfortable homes in the roofs of thousands of houses and sheds in Australian cities.

Despite a few unsavoury habits, including banshee-like screeches and noisy rooftop dust-ups, the possum is a protected species here. Evictions must be handled by a specialist who removes the animals to be released into the wild.

Not so in New Zealand. Over the ditch, the possum is ranked alongside feral cats, stoats and rats as a pest to be eradicated.

New Zealand has no native mammals – only birds and lizards. When possums were introduced in the 1800s as a source of food, leather and fur, there were no predators to keep numbers in check. About 30mn now live in the country, destroying trees and eating the local fauna, including the eggs of the loveable kiwi.

Hunters poison and trap up to 2mn possums a year and have spun their business into a cottage industry. "Possum merino" available in the form of ponchos and other clothing is now one of the most popular local products in airport duty-free stores and high-end outdoor wear shops in Auckland and Queenstown. The New Zealand Fur Association estimates that possumwear generates NZ \$150mn of sales a year and supports 1,500 workers.

New Zealanders argue that possum fur is ethical because the animals are not farmed. They also point to an appealing quirk that makes it good for clothes: the fur is hollow – a feature shared with polar bears. That means it is soft, lightweight, never freezes and repels water. “Lovely stuff,” says Ross Goodin, who is managing director of Lothlorian Knitwear in Pukekohe, one of the largest possum-merino producers.

But the burgeoning possum vertical comes with one fatal flaw – the raw material will run out if New Zealand's "Predator Free 2050" eradication plan proves effective.

Could Australia fill the gap? The ethical fur argument may chime with proponents of K-leather – the kangaroo skin used in local soccer boots that is a byproduct of necessary culling. About 1.5mn macropods – including kangaroos, wallaroos and wallabies – are harvested commercially every year in Australia, according to the Australian Wild Game Industry Council. Most

kangaroo meat ends up in dog food, a fate that also awaits many of New Zealand's possums.

There is precedent. Tasmania already has a small possum industry due to an abundance of the animals in the island state. And Australia has dabbled with using the fur of beloved native animals in the past.

The children's book Blinky Bill, written by New Zealand-born author Dorothy Wall, begins with a harrowing scene in which a koala is shot by a hunter and left "riddled with bullets hanging helplessly from the tree-top" to die in front of his family. The book then tells young readers that between 1920 and 1921, more than 205,000 koalas were killed for their fur and sold internationally as "wombat".

This, however, was not a popular decision. Australia outlawed the practice by 1930 because the koala population was almost wiped out. Their numbers have never recovered.

For now, mainland Australian possums can sleep easily in their spherical nests.

Bethany Kiss, an academic at the University of Melbourne, believes the marsupial's presence should be celebrated as an important reminder of biodiversity for a new generation of city kids. By living alongside us they serve a purpose that is even more valuable than the price of their fur. "Houses with possums feel less lonely," she says.

nic.fildes@ft.com

在一个甚至可能无法获得录用通知的过程中，有大量个人数据被搜集

将其视为“行为、身份和媒体模式”，以发现欺骗信号。

这听起来像是在一个甚至可能无法获得录用通知的过程中，有大量个人数据被搜集。此外，肯定也存在“误报”的可能性：合格的候选人被标记为可疑，从而被剥夺被雇用的机会。如果大量雇主开始使用同样的少数几个系统，一些不幸的人可能会发现自己一次又一次地被拦截。

好消息是，欧盟对监管的偏好有助于预先防止其中一些潜在的陷阱。通用数据保护条例（GDPR）和《欧盟人工智能法案》都为人们提供了保护，使其免于受到无法解释的自动化决策的影响，尤其是在招聘等高风险领域。

Wilf 和 Chait 都告诉我，他们的系统经过精心设计以符合欧盟法规，不会导致自动化决策，而仅将信息标记给人类审核。

即便如此，这些新的安全功能和身份验证感觉像是招聘领域 AI 军备竞赛带来的一个令人沮丧的后果。目前，候选人抱怨雇主使用该技术让他们感到被非人性化，而雇主则表示他们无法应对 AI 辅助申请的数量。

根据 Gartner 对求职者的定期调查，经历过 AI 主导面试的人数从去年第三季度的 9% 增加到今年第二季度的 18%，翻了一番。但只有 30% 的人表示对这种体验感到舒适，只有 20% 的人觉得自己的职位问题得到了解答，而只有 17% 的人比起人类面试官更倾向于这种体验。

我们是否已经到了雇主们举手投降，重新回到规模小得多的手写申请和面对面面试阶段的地步？

这是一个诱人的想法，但值得记住的是，那种方式也远非完美。事实上，最糟糕的情况可能是未来两者兼而有之：对于那些已经拥有能够为他们担保的人脉（或父母有人脉的年轻人）的人，回归到更多线下、人与人之间的招聘决策；而对于没有这种社会资本储备的求职者？则是对着网络摄像头面试，同时用三根手指按在脸上。

sarah.oconnor@ft.com

📄 Original Section

Who's really hiring you – HR or cyber security?

EMPLOYMENT Sarah O'Connor

hat would you think if you were asked in a job interview to hold up three fingers in front of your face? Perhaps you're doing so badly that they're checking you're not concussed? More likely the recruiter is trying to check that you're not an AI deepfake.

Employers are trying all sorts of things to combat fraudulent AI use in the recruitment process. There are job-seekers who use chatbots to bluff their way into jobs they're not capable of, or pay "interview mules" to complete assessments for them. More dangerously, there are hackers who try to get hired with false identities in order to access internal systems, and even remote IT workers who turn out to be based in North Korea. The research company Gartner has predicted that one in four candidate profiles worldwide will be fake by 2028.

All this is leading to a culture clash inside companies. The warm and fuzzy realms of HR and recruitment are having to learn to work with the suspicious minds of the cyber security world.

One example: the HR platform Deel acquired AI cyber security company Clarity in August in order to “embed continuous identity security across the entire hiring and workforce lifecycle”.

Neev Wilf, who was at Clarity and is now head of product at Deel Security, tells me that “bringing HR and security to the same room is tough” because they “have different interests”. Security teams usually want “every protection, every feature, all the way” but “at the same time, you have [recruiters] who say ‘this enhances friction for the candidate’”.

What sort of security checks are we talking about here? Recruitment platform Greenhouse has introduced a system to allow employers to prompt job seekers for ID verification. “Some do it at the top of the funnel, in the beginning of the process, and some do it further down,” Daniel Chait, Greenhouse’s chief executive, tells me.

Clarity, meanwhile, says it uses AI to examine “facial movements, lip-syncing, eye motions, voice patterns” and other indicators in video interviews, and cross-checks indicators such

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英国、脱欧与“猫门”选项

全球事务吉登·拉赫曼 (Gideon Rachman)

“……全部原路返回。”这是法国财政部长罗兰·勒斯屈尔（Roland Lescure）在回应安迪·伯纳姆（Andy Burnham）关于英国需要重新思考其与欧盟关系的建议时所说的话。

勒斯屈尔并非孤立的声音。他的上司，总统埃马纽埃尔·马克龙表示，扭转脱欧是一个“极佳”的主意。西班牙首相佩德罗·桑切斯则暗示，英国若回归将受到“张开双臂”的欢迎。

那么，我们是否正在面对一个“猫门式”的脱欧？我们的猫友们习惯于大声尖叫着要求出门——然后又以同样的热情要求重新进来。英国是否有一天会悠闲地穿过欧盟的“猫门”走回来？

显然，欧盟的大门比普通的猫门要坚固得多。在英国能够重新加入之前，将有巨大的障碍需要克服。但扭转脱欧的政治、经济和战略理由正日益增强并积聚势头。

首先看政治方面。在亲民的外表下，伯纳姆是一个精明且冷酷的政治操盘手。他知道目前的民意调查显示，59%的英国人希望重新加入欧盟，而反对者仅占32%。然而，目前没有一个主要政党在主张重新加入。这在政治上就像是一个空门机会。评论员萨姆·弗里德曼（Sam Freedman）指出，民调显示，“在欧盟问题上做出强有力的宣言承诺，可能会为工党的得票率增加四个到七个百分点。”

首相的关键顾问们很久以前就得出结论，脱欧拖累了英国经济——而且仅仅重新加入海关联盟或欧盟单一市场不足以修复损害。伯纳姆的所有重大目标——从完善社会护理到增加国防开支——都因资金匮乏而受限。如果重新加入欧盟能提高增长率，那么许多其他问题将变得更容易解决。

最后是战略理由。唐纳德·特朗普与俄罗斯达成的柴油协议，凸显了他与英国在乌克兰问题上的深刻分歧。这位美国总统还一直在稳步削弱人们对北约（Nato）联盟未来的信心。英国人知道，他们未来的安全可能取决于与欧洲盟友更紧密的合作。如果英国在欧盟内部——并能自动获得欧洲共同国防开支的访问权——这将变得容易得多。

但实际上重新加入欧盟可能是一个艰巨的过程。英国此前拥有的旧协议——特别是预算返还——将不再适用。此前在申根免签区和欧洲单一货币方面的豁免权可能不再被认可。货币和边境在英国的辩论中仍然是非常敏感的问题。

伯纳姆有理由担心，一旦重新加入欧盟的实际代价变得清晰，目前支持回归的微弱多数可能会消失。尽管马克龙的话语令人鼓舞，但伯纳姆的一些关键顾问对法国尤为警惕——他们认为法国在对待英国的态度上无疑是欧盟国家中最强硬的。有些人甚至担心 20 世纪 60 年代的历史重演，当时夏尔·戴高乐阻挠了英国首次申请加入欧盟。

而那个将对英国重新加入欧盟申请做出裁决的法国，也将不再是马克龙和勒斯屈尔的国家。玛丽娜·勒庞在明年的总统选举中获胜，可能会以不可预测的方式改变关于英国重新进入的讨论。

扭转英国退出欧盟的政治、经济和战略理由正日益增强并积聚势头。

如果勒庞将欧盟推入混乱——或者将法国拖向极右翼——那么对于英国来说，重新加入可能不再是一个那么有吸引力的选项。法国或欧元区其他地区爆发债务危机的威胁，也可能使欧盟显得不那么有吸引力。但另一方面，在欧元区之外，英国本身面对债券市场的风险可能比法国更高。而且，勒庞要求削减部分欧盟权力的一些主张，让人想起英国的传统立场。一个不再致力于追求“更紧密的联盟”的、更松散的欧盟，对于英国来说甚至可能更容易重新加入。

欧盟及其成员国政府必须回答的更大问题是——他们真的想要英国回来吗？即便答案是“是的”，他们是否准备投入必要的时间和精力来实现这一目标？

英国脱欧留下的伤痕才刚刚开始愈合。欧洲人还会希望看到英国国内达成一项稳定的共识。如果辛苦谈判达成一项重新加入的条约，结果奈杰尔·法拉奇（Nigel Farage）上台并将其撕毁，那将是所有相关方的噩梦。

另一方面，英国重新加入对欧盟的吸引力同样巨大。在布鲁塞尔被华盛顿和莫斯科蔑视的时刻，英国投票决定重新加入这个俱乐部，将是对欧洲计划未来的强有力信心投票。

与2016年英国投票脱欧时相比，现在的世界对欧洲人来说是一个威胁大得多的地方。恢复英国成员国身份将增加一些经济和军事权重，而这正是欧盟无疑需要的。与许多其他潜在成员国不同，英国也将成为欧盟预算的大额贡献者。

除了扭转英国脱欧所涉及的困难技术谈判外，真正关键的是更大的战略问题：双方是否认为英国重新加入欧盟符合共同利益？如果答案是明确的“是”，那么这件事就可以且应该发生。

gideon.rachman@ft.com

Ground Truth 图像显示了一条单一的实线水平线，这是一个风格化或背景元素（类似于纸上的分隔线）。根据规则 2，此类线条必须在 OCR 结果中被忽略。提供的 OCR 内容为 ""，不包含任何字符。由于 OCR 输出正确地忽略了风格化线条，因此它符合规则 2。因此，OCR 结果与 Ground Truth 保持一致。

📄 Original Section

There's a lot of personal data to be hoovered up in a process that might not even result in a job offer

as “behavioral, identity, and media patterns” to spot signals of deception.

It sounds like a lot of personal data to be hoovered up in a process that might not even result in a job offer. There is surely the potential, too, for “false positives”: for legitimate candidates to be flagged as suspicious and thus denied the chance of getting hired. If a lot of employers start to use the same handful of systems, some unlucky souls might find themselves blocked again and again.

The good news is that the EU's penchant for regulation has helped preempt some of these potential pitfalls. Both GDPR and the EU AI Act give people protection against being subject to unexplained automated decision-making, for example, especially in high-stakes areas such as recruitment.

Both Wilf and Chait tell me their systems have been carefully designed to meet EU regulations, and do not lead to automated decisions but only flag information for human review.

That said, these new security features and identity checks feel like a depressing consequence of the AI arms race in recruitment. Already, candidates complain they feel dehumanised by employers' use of the technology, while employers say they can't cope with the volume of AI-assisted applications.

According to Gartner's regular surveys of job seekers, the number of people who had experienced an AI-led interview doubled from 9 per cent in the third quarter of last year to 18 per cent in the second quarter of this year. But only 30 per cent said they felt comfortable with the experience, only 20 per cent felt they were able to get their own questions about the job answered and only 17 per cent preferred the experience to a human interviewer.

Have we reached the point where employers throw up their hands and go back to a much smaller pool of handwritten applications and in-person interviews?

It's an appealing thought, but it's worth remembering that way of doing things was hardly perfect either. Indeed, perhaps the worst-case scenario would be a future that contains a bit of both. A return to more offline, human-to-human recruitment decisions for those who already have personal connections who can vouch for them (or those young people whose parents have connections). And for job seekers without that reserve of social capital? An interview into a webcam with three fingers pressed to your face.

sarah.oconnor@ft.com

柴油危机正考验全球化的极限

Christof Rühl

柴油或许是最基础的燃料，但它是运输业的主力。任何短缺都会直接冲击经济活动，而与汽油或原油相比，柴油价格上涨对生产成本以及随之而来的整体通胀影响更为广泛。因此，自7月以来，柴油价格的涨幅约为汽油价格的两倍，这一点至关重要，因为乌克兰和伊朗的战争导致炼油能力受损或无法使用。

目前的这场闹剧不乏讽刺之处：故事始于全球最大的石油生产国和柴油出口国美国，声称燃料短缺到考虑实施出口禁令。唐纳德·特朗普迅速从威胁实施禁令，转变为向G7伙伴施压要求提前释放战略储备，最后单方面放宽对俄罗斯的柴油制裁，以换取其向全球增加出口的承诺。问题不在于这些政策是否对美国政府有效，而在于它们给能源安全和全球经济运行带来了怎样的损害。

让我们先从出口禁令谈起。可怕的真相并非它会损害美国经济，而是它可能会奏效。此类举措确实会降低美国的短期价格，并推高海外价格。即便从更长远来看，这也不一定是一个“乌龙球”。虽然海外柴油成本上升会提高进口价格（美国柴油的三大目的地恰好是墨西哥、智利和巴西，它们是美国商品、食品和原材料的主要供应商），且僵化的禁令也会减少汽油和航空燃料的产量，但对柴油运行实施灵活的上限限制可以减轻或避免这些后果。

事实上，仅仅是出口禁令的威胁似乎就起到了作用。几天前，G7同意提前释放战略储备，成员国承诺不对彼此限制能源出口。周五关于俄罗斯的“协议”则进一步突破了政治干预的界限。在威胁关闭一个市场环节后，美国转而开启了另一个环节。

一个资源如此丰富以至于自称“能源主导”的国家，怎么会变得如此容易受到普通柴油全球价格的影响？答案是，丰富、所有权或控制权不足以确保能源安全。这需要的是选择权：不仅要拥有某种资源，还要拥有—。

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📄 Original Section

Britain, Brexit and the cat-flap option

GLOBAL AFFAIR Gideon Rachman

some all the way back." That was Roland Lescure, France's finance minister, responding to Andy Burnham's suggestion that Britain needs to relations with the EU.

rethink its relations with the EU.

Lescure was not a lone voice. His boss, President Emmanuel Macron, says the reversal of Brexit is an “excellent” idea. Pedro Sánchez, Spain’s prime minister, suggested that Britain would be welcomed back with “open arms”.

So could we be looking at a cat-flap Brexit? Our feline friends have a habit of screaming to get out of the house — before demanding, with equal fervour, to come back in again. Will Britain one day stroll back through the EU cat flap?

Clearly, the door to the EU is rather better fortified than the average cat flap. There would be formidable obstacles to overcome before Britain could rejoin. But the political, economic and strategic case for reversing Brexit is gathering strength and momentum.

Start with the politics. Behind his folksy exterior, Burnham is a shrewd and ruthless political operator. He knows that opinion polls now suggest that 59 per cent of British people want to rejoin the EU, with just 32 per cent opposed. And yet no major political party is currently advocating rejoining. That looks like the political equivalent of an open goal. The commentator Sam Freedman points out that polls suggest that “a strong manifesto commitment on the EU could add four to seven points to Labour’s vote percentage.”

Key advisers to the prime minister concluded long ago that Brexit has acted as a drag on the British economy – and that rejoining the customs union or the EU's internal market would not be enough to repair the damage. Every big goal that Burnham has – from fixing social care to spending more on defence – is hamstrung by a lack of money. If rejoining the EU could raise the growth rate then a lot of other issues would become easier to solve.

Finally, there is the strategic case. Donald Trump's diesel deal with Russia has underlined his profound differences with Britain over Ukraine. The US president has also steadily undermined faith in the future of the Nato alliance. The British know that their future security is likely to depend on working more closely with European allies. That would be significantly easier if Britain were inside the EU – and had automatic access to common European defence spending.

But actually rejoining the EU could be a daunting process. The old deal that Britain had before – in particular the budget rebate – would not be on offer. Opt-outs from the Schengen border-free zone and from the single European currency could no longer be assumed. Both currency and borders remain very sensitive issues in the British debate.

Burnham would have reason to fear that a soft majority in favour of rejoining the EU would fall away, as the reality of what that entails became apparent. Despite the encouraging words from Macron, some of Burnham's key advisers are particularly wary of France – which they regard as easily the most hardline of the EU nations in its attitude to Britain. Some even fear a replay of the 1960s, when Charles de Gaulle blocked Britain's first application to join the EU.

The France that would sit in judgment on a British application to rejoin the EU would also no longer be the country of Macron and Lescure. A victory for Marine Le Pen in next year's presidential election might change the debate about

A political, economic and strategic case for reversing the UK's exit is gathering strength and momentum

British re-entry in unpredictable ways.

If Le Pen plunged the EU into chaos — or dragged France to the far right — then rejoining might seem like a less attractive option for the UK. The threat of a debt crisis in France or elsewhere inthe Eurozone might also make the EU seem less attractive. On the other hand, outside the Eurozone, Britain itself might be even more exposed to the bond markets than France. And some of Le Pen's demands for a rollback of some EU powers are reminiscent of the traditional British position. A looser EU that was no longer driving towards “ever closer union” might even be easier for Britain to rejoin.

The bigger question that the EU and its constituent governments have to answer is – do they really want Britain back? And even if the answer to that is 'Yes' – are they prepared to invest the time and energy required to make it happen?

The scars left by Brexit have only just begun to heal. The Europeans will also want evidence of a settled consensus in Britain. Negotiating a re-entry treaty — only to have Nigel Farage come to power and rip it up — would be a nightmare for all concerned.

On the other hand, the attractions for the EU of Britain rejoining are also considerable. At a time when Brussels is scorned in Washington and Moscow, a British vote to rejoin the club would be a powerful vote of confidence in the future of the European project.

The world is also a much more threatening place for Europeans than it was in 2016, when Britain voted to leave. Renewed UK membership would add some economic and military weight that the EU could certainly do with. Unlike many other potential member states, the British would also be substantial contributors to the EU budget.

Beyond the difficult technical negotiations involved in reversing Brexit, it is the bigger strategic question that really matters. Do both sides see a common interest in Britain rejoining the EU? If the answer to that is a clear yes – then it can and should happen.

gideon.rachman@ft.com

The Ground Truth image displays a single, solid horizontal line, which is a stylistic or background element (like a rule line on paper). According to Rule 2, such lines must be ignored by the OCR result. The OCR content provided is "", which consists of no characters. Since the OCR output correctly ignores the stylistic line, it complies with Rule 2. Therefore, the OCR result is consistent with the Ground Truth.

个别国家采取的看似理性的决定将削弱集体安全

以及在需要时将其替换的能力。霍尔木兹海峡的局势继续提供着一次残酷的压力测试。供应冲击一直由一套替代方案网络缓冲：从库存到重新规划航线、重新配置产能、燃料替代以及削减需求。

从亚当·斯密那里我们得知，大型市场通过专业化创造财富。但其镜像效应是，大型市场在危机时刻通过产生替代方案和转换机会来创造韧性。能源就是一个典型的例子。其市场具有灵活性且触达全球。长期以来被视为理所当然的、保护能源安全和整体经济的联系，现在正由政治指令而非市场决策来开启或关闭。

这些政治决策正在削弱仍受市场条件影响的供应。这不仅仅是美俄协议的问题。就在该协议公布的同一天，中国在较低调的情况下做出了再次放宽柴油出口的行政决定。与此同时，俄罗斯和沙特阿拉伯的炼油能力仍面临威胁。

柴油事件仅仅是一个例子，说明将经济政策用于战略和地缘政治目的已成为美国政府的核心手段。这种排他性地缘经济学的麻烦之处不在于它总是会对发起者产生反作用，而在于它有时会奏效，尤其是对于大型强国而言。这造成了传染风险：其他国家可能会采取同样的报复措施，从而加速全球碎片化。

随着全球能源网络的准入程度降低，规模较小的参与者会发现采取对冲措施是理性的，即更多地依赖国家储备、双边谈判以及成本高昂的自给自足尝试。但对个别国家而言理性的做法，也会通过限制选择权而削弱集体安全。

在大国 flexing their muscles（展示肌肉）之际，“中等强国”能做什么？无论在能源领域还是其他领域，抽象的答案是团结起来，保护尽可能大且包容的经济空间。问题在于，维护一个包容的体系需要捍卫它的集体意愿——以及能力。G7的柴油协议维护了这样一个空间，以及一个能够协调集体响应机制的机构：国际能源署（IEA）。但如果一项妥协是通过排他性的威胁而达成的，那么它可能会鼓励更多的威胁。

我们花了数十年时间认为全球化让世界变得更小。现在，我们即将发现地平线的关闭对世界经济意味着什么。

作者是哥伦比亚大学全球能源政策中心的副高级研究学者，以及 Crystal Energy 的顾问。

📄 Original Section

The diesel crisis is testing the limits of globalisation

Christof Rühl

iesel may be the most basic of fuels but it is the workhorse of transport. Any shortages hit economic activity directly, while higher prices feed more broadly into production costs and therefore headline inflation than either gasoline or crude oil. So it matters that diesel prices have risen about twice as much as gasoline prices since July, because refining capacity was damaged or made inaccessible by the wars in Ukraine and Iran.

The current saga is not without irony, opening with the US, the world's largest petroleum producer and diesel exporter, claiming to be so short of the fuel as to contemplate an export ban. Donald Trump quickly moved from threatening such a ban to pressuring G7 partners to bring forward strategic stock releases to unilaterally easing diesel sanctions on Russia in exchange for the promise of additional exports to the world. The problem is not whether these policies work for the US administration. It is the damage they are creating for energy security and the functioning of the global economy.

Let's start with the export ban. The scary truth is not that it would hurt the US economy; it is that it might work. Such a move would indeed bring down short-term prices in the US and increase them abroad. Even longer term, it would not necessarily be an own goal. While higher diesel costs abroad would increase import prices (the three largest US diesel destinations happen to be Mexico, Chile and Brazil, top US suppliers of goods, food and commodities) and a rigid ban would reduce the output of petrol and jet fuel too, a flexible cap on diesel runs could limit or avoid these consequences.

In fact, the mere threat of an export ban seems to have worked. A few days ago, the G7 agreed to bring forward the release of strategic reserves, with members pledging not to restrict energy exports to each other. The Russia “deal” on Friday pushed the boundaries of political intervention further. After threatening to close off one market link, the US opened another instead.

How could a country with resources so abundant that it calls itself “energy dominant” end up so vulnerable to the global prices of ordinary diesel? The answer is that abundance, ownership or control are not sufficient to ensure energy security. That requires optionality: not only having something, but hav-

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英国是时候给予举报者经济奖励了

格雷厄姆·麦克纳尔蒂 (Graham McNulty)

解决复杂欺诈、贿赂和腐败的关键之一，在于来自内部的洞察。在四年的时间里，我曾担任英国警方负责线人——或者用更正式的称呼，秘密人力情报源——的负责人。我亲眼目睹了内部信息如何能让案件取得突破。

秘密人力情报源与举报者有所不同，但拥有内部人员的原则是一样的。作为严重欺诈办公室（SFO）的临时主任，我深知举报者能产生的影响。他们往往掌握着整个调查的关键。他们提供的信息能够揭开复杂案件的真相，并更快地为受害者带来公正。

这就是为什么我对政府表示支持建立激励机制感到高兴，该机制是昨天启动的关于英国举报框架更广泛磋商的一部分。这一举措反映了支持变革的证据基础正日益强大且充分。

这是严重欺诈办公室（SFO）的一项优先任务。我们的参与帮助扩大了乔纳森·费舍尔（Jonathan Fisher KC）审查的范围，将其纳入激励机制，这基于政府反腐败战略中的一项先前承诺。

毫无疑问，这是迈向一个重要结果的关键一步，它将改变英国应对复杂欺诈的方式，就像 21 世纪初的犯罪收益立法使执法部门能够扭转局面、反制犯罪分子一样。

举报者极大地降低了

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📄 Original Section

Seemingly rational decisions taken by individual states will weaken collective security

ing the ability to replace it when needed. The situation in the Strait of Hormuz continues to provide a brutal stress test. Supply shocks have been buffered by a web of alternatives: from inventories to rerouting, reconfiguring capacity, fuel substitution and demand reduction.

From Adam Smith, we know that large markets create wealth through specialisation. But the mirror image is that they create resilience by generating alternatives and opportunities for substitution in moments of crisis. Energy is a prime example. Its markets are flexible and global in reach. The links – long taken for granted – that have protected energy security and the economy at large are now being switched on and off by political fiat, not market decisions.

These political decisions are chipping away at supplies that are still subject to market conditions. It is not only the US-Russia deal. The same day this was announced, and with much less fanfare, China made an administrative decision to relax diesel exports again. Meanwhile, refining capacity in Russia and Saudi Arabia remains under threat.

The diesel episode is just one example of how central the use of economic policy for strategic and geopolitical ends has become to the US administration. The trouble with such exclusive geoeconomics is not that it will always backfire on the initiator; it is that it will sometimes work, in particular for large and powerful nations. That creates the risk of contagion: other countries may respond in kind, accelerating global fragmentation.

As the global energy network becomes less accessible, smaller players will find it rational to hedge, relying more on national storage, bilateral negotiations and costly attempts at self-sufficiency. But what is rational for individual states will also weaken collective security by limiting optionality.

With big powers flexing their muscles, what can “middle powers” do? The abstract answer, in energy as elsewhere, is to band together to protect as large and inclusive an economic space as possible. The trouble is that preserving an inclusive system requires the collective will – and ability – to defend it. The G7 diesel agreement preserved such a space, as well as an institution that could co-ordinate collective response mechanisms: the International Energy Agency. But if a compromise is reached by the threat of exclusion, it risks encouraging more threats.

We spent decades thinking globalisation had made the world smaller. Now we are about to find out what a closing horizon means for the world economy.

The writer is an associate senior research scholar at Columbia's Center on Global Energy Policy and adviser to Crystal Energy

激励内部人员将是改变应对复杂欺诈方式的重要一步

调查时间。他们使我们能够集中开展询问，识别出原本可能需要数年时间才能拼凑出来的书面证据链，并大幅削减我们需要审查的资料数量。

目前，严重欺诈办公室（SFO）从启动调查到决定提起指控、达成缓期起诉协议或结案，平均需要四年多时间。这比任何人希望的时间都要长得多。

但请考虑，一个典型的 SFO 案件包含数百万份文件。正如费舍尔（Fisher）所观察到的，如果将这些文件打印出来，其堆叠高度将远超碎片大厦（the Shard）。

如果我们能给举报者一个向我们提供信息的理由，他们可以帮助我们更快地处理这些海量资料。目前，美国正在给他们一个好得多的理由，其奖励金可达所收罚款的 10 和 30 per cent。

英国国民是美国举报者奖励计划最大的海外用户群体之一。在 2012 和 2023, 之间，有 700 多名英国国民向其提供了情报。这种流失是由我们缺乏对举报者的财务激励驱动的。

激励举报者是行之有效的。在设有适当保障措施的情况下，这些计划已在包括美国和加拿大在内的多个国家成功运行。英国皇家联合服务研究所（RUSI）的一份报告指出，这些计划增加了企业违规行为举报的数量和质量。在 2022, 86 per cent 的 22亿美元民事和解金和判决金由美国司法部（DOJ）追回，这些都是基于举报者提供的信息。

这些是具有不同法律体系的不同司法管辖区，但模式很清晰：只要存在激励机制，举报者就会挺身而出。在英国采取同样做法，也可以将刑事司法格局重塑为倾向于企业自我举报和早期认罪。这意味着在刑事法院积案日益增加的情况下，可以避免进行充满争议的审判。

付费获取信息曾被认为“不符合英国传统”。但现在不再如此。为费舍尔审查而委托的 Ipsos 民意调查发现，70 per cent 的公众现在支持对揭露严重经济犯罪的举报者给予财务奖励。

严重的欺诈、贿赂和腐败是从内部被发现的。目前，太多能够帮助我们的人选择在其他地方发声——或者根本不发声。现在是我们给他们一个选择我们的好理由的时候了。

作者为严重欺诈办公室（SFO）临时主任

NIKKEI Asia 亚洲世纪之声

OpenAI 的营收数字对投资者至关重要

OpenAI 开发者大会上的首席执行官 Sam Altman —— Heather Diehl / Getty Images

本周声称其解决了数百个极难的数学问题。与此同时，它在无意中制造了一个新问题。Sam Altman 的 AI 实验室向投资者分享的一项营收数字，比 9 月份被广泛报道的数字低了 200亿美元。

这种混乱是一个真实存在的问题，因为当 “打喷嚏”时，整个市场都会“感冒”。

即便在最理想的情况下，营收与现实之间的关系也是不完美的。营收可以在现金到账之前很久被记录，也可以在到账之后很久才记录。AI 增加了复杂性：在 token 包、订阅、代理任务和许可的世界里，会计师必须确定销售的确切时间。在一年时间里，这类古怪情况的影响会被平滑掉。

但科技行业将营收“年化”的习惯会放大这些波动。

那么，公司是否应该放弃这些“运行率”（run rate）数字？不能这么快。对于像或 Anthropic 这样快速增长的公司来说，回顾性的销售数据——例如在 2025, 仅实现了 130亿美元营收——甚至更没用。但了解这些数字是如何产生的至关重要。例如，的“净”数字不包括客户账单中支付给微软等合作伙伴的部分。相比之下，Anthropic 的“总”数字则包括在内。

已经持有或 Anthropic 股份的投资者不应被这些干扰。他们应该能够询问公司某个特定数字的含义以及它是如何计算出来的。围绕“传闻数字”（whisper numbers）而产生的混乱实际上只对外部人士构成问题，而 Altman 及其在 Anthropic 的同行 Dario Amodei 没有义务去纠正这些传闻。

但这种模糊性仍可能产生不利后果。一方面，模糊的数字可能会为那些被过度炒作的公司在最终上市时的高估值铺路。

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📄 Original Section

Incentivising insiders would be a significant step towards transforming how complex fraud is tackled

investigation time. They enable us to focus enquiries, identify paper trails that could otherwise take years to piece together, and slash the volume of material we need to review.

It currently takes the SFO an average of just over four years from opening an investigation to a decision on bringing charges, agreeing a deferred prosecution or closing the case. This is much longer than anyone would like.

But consider that a typical SFO case includes several million documents. As Fisher observed, if printed, these would stack considerably higher than the Shard.

Whistleblowers could help us work through that volume far faster, if we gave them a reason to come to us. Right now, the US is giving them a much better one, with rewards of between 10 and 30 per cent of sanctions collected.

UK nationals are one of the largest overseas user groups of the US whistleblower reward programmes. Between 2012 and 2023, over 700 UK nationals provided them with intelligence. This outflow is driven by our lack of financial incentivisation for whistleblowers.

Incentivising whistleblowers works. With appropriate safeguards in place, these schemes already operate successfully in a range of countries, including the US and Canada. A report by the Royal United Services Institute indicates they increase both the quantity and quality of reporting of corporate misconduct. In 2022, 86 per cent of the \$2.2bn in civil settlements and judgments recovered by the US Department of Justice were based on whistleblower information.

These are different jurisdictions with different legal systems, but the pattern is clear: where incentives exist, whistleblowers come forward. Doing likewise in the UK could also reshape the criminal justice landscape towards corporate self-referrals and early guilty pleas. That means avoiding contested trials amid the growing crown court backlog.

Paying for information was once seen as “un-British”. But no longer. Ipsos polling commissioned for the Fisher review found 70 per cent of the public now support financially rewarding whistleblowers who expose serious economic crime.

Serious fraud, bribery and corruption are caught from the inside. Right now, too many of the people who could help us are choosing to speak up elsewhere—or not at all. It’s time we gave them a good reason to choose us.

The writer is interim director of the Serious Fraud Office

NIKKEI Asia The voice of the Asian century

的“净”数字不包括客户账单中支付给微软等合作伙伴的部分

等到这些公司公布审计报告时，投资者对该集团的价值已经有了预设的印象。

埃隆·马斯克的 SpaceX 在市场看到其财务状况的几个月前，就让市场做好了至少 $1.5tn 估值的准备。《金融时报》曾报道，Anthropic 的支持者正在寻求 $2tn 估值。

一个更严重的问题是， OpenAI 和 Anthropic 的销售增长现在已成为许多其他公司估值的输入变量。

英伟达、微软、亚马逊和甲骨文是那些未来收益部分取决于 AI 实验室发展情况的公司，但从银行、涡轮机制造商到电力集团，每个人都是这个生态系统的一部分。当预期发生变化时，所有人的预期都会随之变化。

对于市场而言，最好的解决方案是 OpenAI 和 Anthropic 加快步伐，尽快上市。届时，全世界将能够接触到详细的账目；年化数字将失去其震撼力，科技公司的证券定价也将变得更加高效。

如果 Altman 和 Amodei 想让世界在数学方面变得更好，他们知道接下来该怎么做。

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警惕奢侈品：中端时尚品牌正在强势回归

经过多年的涨价，奢侈品牌这次把运气用得有些过头了。那些再也负担不起路易威登（Louis Vuitton）和古驰（Gucci）的顾客正将资金转向其他地方：时尚的中端市场，而像优衣库（Uniqlo）和飒拉（Zara）这样的品牌正迎来高光时刻。

近几个月，虽然 LVMH 的销售额下滑幅度超过了市场预期，但优衣库的销售额却在猛增。其母公司迅销集团（Fast Retailing）在截至 8 月底的一年里，营收增长了近五分之一，超过了其近期的扩张速度。甚至连 90 年代的主打品牌 Gap，也凭借高端产品线 Gap Studio 的增长而重新流行。麦肯锡（McKinsey）发现，增长最快的是中端市场细分领域。

这是一种不寻常的情况。中端时尚（大致定义为价格在 $50 到 $300 之间的服装）此前一直处于劣势——与中端酒店和中端餐厅一样——因为它们既不如奢侈品牌有吸引力，又比那些走量低价的品牌贵。但奢侈品牌的价格上涨已经超过了顾客的承受能力。根据贝恩公司（Bain & Co）的分析，自 2022 年以来，五分之一的顾客已经离开了高端商店。

这些购物者为中端品牌提供了绝佳机会。为了吸引他们，优衣库推出了与 JW Anderson 的合作系列（该奢侈品牌由现任迪奥创意总监乔纳森·安德森创立），而 Mango 则转向了维多利亚·贝克汉姆（Victoria Beckham）。优衣库和飒拉的售价都在上涨，毛利率（品牌定价能力的指标）也在提升。

奢侈品能否赢回那些被价格挤走的顾客？投资者似乎认为不能：五年前，基于远期市盈率，迅销集团相对于 LVMH 的溢价大约是三分之一。而根据 S&P Capital IQ 的数据，现在这一比例已超过两倍。

这反映出一个事实：对于奢侈品公司来说，涨价比降价容易得多。那些处于市场中较为亲民端位的品牌（如博柏利 Burberry）或许能稍微下调价格，但对于任何一个手袋售价高达 1 万英镑的品牌来说，哪怕是一丁点折扣的迹象

2021 2023 2024 2025 2026

来源：S&P Capital IQ

都将是对品牌极具破坏性的危险行为。

奢侈品的最后避风港可能是强调质量：工艺、魅力以及文化和声望，正是过去支撑溢价的部分原因。但现在，这些历史悠久的品牌与紧随其后的品牌之间的差异正在缩小。

那些在飒拉寻找 T 台造型或钟爱优衣库西裤的顾客，可能永远不会回头。

对于许多时尚人士来说，过去象征精英地位的东西，现在仅仅意味着一个惊人的价格标签。

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特朗普向美国国防初创公司提供贷款，亦充实了阿波罗的资金库

特朗普政府表示，升级美国军队是一项优先任务。

向陷入困境的芯片制造商 Wolfspeed 提供财务支持的举措表明，政府在升级军队的同时，并不反对顺便改善某些华尔街公司的财务状况。

美国国防部上周向 Wolfspeed 提供了一笔 15亿美元贷款，以帮助其增强其“氮化镓外延能力”——简单来说，就是提供对国防电子产品有用的关键材料。 LVMH 的大多数竞争对手来自中国，因此培养一个美国国家冠军企业是一项战略重点。

不过，首先需要解决的是清理的资产负债表，其中包含一笔来自私人资本巨头阿波罗（Apollo）的高成本贷款。该公司持有 $600mn 的优先债券，收益率为 16 per cent ——虽然昂贵，但对于资助一家烧钱的初创公司来说并非不合理。在 LVMH 去年进行重组后，阿波罗继续持有这些债券，而此次重组将其单独的次级借款从 60亿美元削减至约 20亿美元。

获得了一笔极具吸引力的交易。该贷款的利率约为 7 per cent。而且在最初的五年里，该公司可以通过将款项计入总欠款来递延支付。 LVMH 的年度债务偿还成本将从 $150mn 降至 $50mn，这意味着它应该能够实现自由现金流转正。

与此同时，“山姆大叔”将获得赋予其公司 7.5 per cent 股份的认股权证。在正常时期，这可能看起来很奇怪，但在政府投资芯片巨头英特尔以及为稀土矿工提供一系列债务和股权方案之后，将纳税人的资金投入被认为具有国家战略重要性的私营公司，几乎已成为常态。

问题在于，如果的前景如此诱人，为什么其他私营部门的资本提供者没有竞相提供资金。目前，国防部至少可以辩称，与乔·拜登的《芯片法案》曾承诺给的可能拨款相比，它为纳税人争取到了更好的交易——由于特朗普政府接管，那笔拨款最终从未兑现。

与此同时，阿波罗将获得溢价偿付。如今的美国政府并不避讳挑选赢家，如果的技术名副其实，该公司很可能成为其中之一。但在本案中，阿波罗看起来也是受益者。

CROSSWORD No 18,504 by BOBCAT

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📄 Original Section

Watch out luxury: mid-market fashion brands are staging a comeback

After years of price hikes, luxury brands have pushed their luck a little too far. Customers who can no longer stretch to Louis Vuitton and Gucci are taking their money elsewhere: fashion's mid-market, where brands such as Uniqlo and Zara are having a moment.

While LVMH's sales slid more than the market expected in recent months, Uniqlo's are going gangbusters. Parent Fast Retailing increased its revenue by almost a fifth in the year to the end of August, beating its own recent pace of expansion. Even Gap, the nineties staple, is back in vogue thanks to the growth of upmarket Gap Studio. The fastest growth comes from the mid-market segment, McKinsey has found.

That's an unusual state of affairs. Mid-market fashion, broadly defined as apparel worth between \$50 and \$300, has suffered – alongside mid-market hotels and mid-market restaurants – from being less alluring than luxury brands and more expensive than the pile-em-high brigade. But luxury maisons have hiked prices more than their customers can stomach. A fifth of them have deserted high-end stores since 2022, according to analysis by Bain & Co.

Those shoppers are a golden opportunity for the mid-market brand. In an attempt to woo them, Uniqlo has launched a collaboration with JW Anderson, the luxury label founded by current Dior director Jonathan Anderson, while Mango has turned to Victoria Beckham. Selling prices at both Uniqlo and Zara are going up as are gross margins, a proxy for a brand's pricing power.

Can luxury win back the customers it priced out? Investors seem to think not: five years ago, Fast Retailing's premium to LVMH was roughly a third, on a forward price-to-earnings basis. Now, it is well over double, according to S&P Capital IQ.

That reflects the fact that for luxury companies, raising prices is easier than cutting them. Those already at the more affordable end of the market, like Burberry, may be able to flex their prices down a little, but for anyone charging £10,000 for a handbag, the merest hint of discounting

2021 2023 2024 2025 2026

Source: S&P Capital IQ

would be perilously brand-destructive.

Luxury's last refuge might be to emphasise quality: workmanship and allure, as well as just culture and cachet, are part of what has in the past justified a premium price. But there is now less to differentiate the storied maisons from those at their heels.

Customers who look to Zara for catwalk looks or cherish their Uniqlo slacks may never turn back.

For many fashionistas, what used to connote elite status now just signifies a whacking great price tag.

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ACROSS

1 猫，一种水鸟大部分被观察到围绕着树 (8)

9 冰（ICE）即将拦截工人抵达美国牧场 (8)

10 结果是，在三月中间的 dire 之首 (4)

11 遭受压力，美国必须提供储备 (12)

13 在某些圈子中，对运动向上的描述 (6)

14 背叛者，射击指挥官即将被解雇 (8)

15 猫一样的秘书，在紧身衣中为特斯拉外部履行职责 (7)

16 大都市扩张跨越边界 (7)

20 一个家县（Home Counties）的案例具有镇静效果？ (8)

22 高尔夫球俱乐部的右翼变成自由派？那是胡说八道 (6)

自由派？那是胡说八道 (6)

23 时尚设计从未穿着 (7,5)

25 前经理说她为这个国家做了什么 (4)

26 令人印象深刻的欧洲政治家缩短了不随意运动 (8)

27 命令查理（Charlie），谎称被首脑面对，以省略零 (8)

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📄 Original Section

Trump's loan to a US defence start-up adds to Apollo's war chest too

The Trump administration says upgrading the US military is a priority.

An offer of financial support to struggling chipmaker Wolfspeed shows that it isn't averse to upgrading the finances of certain Wall Street firms along the way.

The Department of Defense last week offered a \$1.5bn loan to Wolfspeed to help it soup up its "gallium nitride epitaxy capabilities"

\- or, in simpler terms, to provide critical materials useful for defence electronics. Most of Wolfspeed's rivals are Chinese, so nurturing a US national champion is a strategic priority.

First, though, there's the matter of cleaning up Wolfspeed's balance sheet, which includes an expensive loan from private capital giant Apollo. The firm holds \$600mn of senior bonds with a yield of 16 per cent — expensive, but not unreasonable for funding a cash-burning start-up. It held on to these after Wolfspeed went through a restructuring last year, which cut its separate junior-ranked borrowings from \$6bn to around \$2bn.

Wolfspeed is getting an attractive deal. The loan carries an interest rate of about 7 per cent. And for the first five years, the company can defer its payments by adding them to the total it owes. Wolfspeed's annual debt-servicing costs will fall from \$150mn to \$50mn, meaning it should be able to flip to positive free cash flow.

Meanwhile Uncle Sam will be in line for warrants giving it 7.5 per cent of the company. In normal times that might seem odd, but after the government's investment in chipmaking giant Intel and a string of debt and equity packages for rare earth miners, the deployment of taxpayers' money into private companies deemed to have national strategic importance is becoming almost business as usual.

The question is why, if Wolfspeed's prospects are so enticing, other private sector capital providers weren't racing to provide funding too. For now, the DoD can at least argue that it is getting a better deal for taxpayers than the possible grant promised to Wolfspeed under Joe Biden's CHIPS Act – a grant that ultimately never appeared, as the Trump administration took over.

Apollo, meanwhile, will get paid out at a premium. The US government these days is not shy of picking winners, and if Wolfspeed's technology lives up to its billing, the company might well be one. But in this case, Apollo looks like a beneficiary too.

CROSSWORD No 18,504 by BOBCAT

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Solution 18,503

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向下

2 税务局在演习中抓住了爱德华国王 (8)

3 能够担任高级指挥的人？

排除阿格里帕伯爵 (5,7)

4 在著名马背上向北行驶的罪犯 (8)

5 脱水的，紧张且脾气暴躁，开始下降 (7)

6 从赛马场出来的鸟，在旧女王之前被去掉顶端地游行 (6)

7 反对古代关系前两个词的人，正在出现 (4)

8 这盘磁带在学生的输入下，可用于制作电视广播 (8)

12 可怜的多梅尼科·斯卡拉蒂被掏空 —— 质量定期被停止服务 (12)

15 我听说，1英镑钞票，没有一张新的，在流通中 (8)

17 完成家务的配对构成了策略，逃脱并返回 (8)

18 弹簧锁检查非法进入 (8)

19 骑警向公众收费：领导者缺乏判断力 (7)

21 最初被禁止进入煤火的日志 (6)

24 向老伙计展示夜晚去哪里？ (4)\*

🧭 今日主编程控导读：聚焦「——基辅称电力和天然气厂遭袭击——俄罗斯领导人无视特朗普计划」、「总统冒着损害乌克兰的风险，试图遏制由其自身战争推高的价格」等核心政经议题

🎭 本期时代思潮与社会文化雷达

《Financial Times》本期社会思潮与时代切片

🗂️ 全版面分栏导览目录 (点击标题直达正文)

📑 加密货币 / 地缘政治

📑 政治 / 欧盟关系

📑 国际 / 以色列

📑 金融 / 投资银行

📑 体育 / 地缘政治

📑 能源 / 沙特阿拉伯

📑 市场 / 能源

📑 市场数据 / 股票

📑 市场数据 / FTSE 100

📑 市场数据 / 外汇

📑 市场数据 / 行业指数

📑 市场数据 / 行业表现

📑 市场数据 / 欧洲股票

📑 市场数据 / 沙特股票

📑 市场数据 / 全球股票

📑 市场数据 / 美国股票

📑 市场数据 / 大宗商品

📑 市场数据 / 债券

📑 市场数据 / 行业股票

📑 市场数据 / 基金与食品

📑 市场数据 / IT与电信

📑 市场数据 / 软件服务

📑 文化 / 艺术

📑 评论 / 美国财政

📑 商业 / 时尚消费

金融时报

泽连斯基称普京违反能源目标“停火协议”

Putin breaking 'ceasefire' on energy targets, says Zelenskyy

——基辅称电力和天然气厂遭袭击——俄罗斯领导人无视特朗普计划

- Kyiv claims power and gas plants hit - Russian leader defies Trump plan

Muse时刻：扎克伯格在推出“前沿”AI平台时强调反感监管

Muse moment Zuckerberg underlines aversion to regulation at launch of 'frontier' AI platform

简报

Briefing

伦敦金融城抨击伯纳姆试图禁止工作合同中竞业禁止条款的举措

City lashes out at Burnham's bid to ban non-compete clauses in work contracts

共和党致力于重塑尼克松的政治遗产

Republicans on a mission to reshape Nixon's legacy

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Subscribe In print and online www.ft.com/subscribenow Tel: 0800 028 1407

获取最新新闻请访问 www.ft.com

For the latest news go to www.ft.com

首相发起商业魅力攻势

PM launches business charm offensive

担忧税收上涨的高管受邀参加“快速约会”式招待会

Executives fearful of tax rises invited to speed dating-style reception

“所有迹象表明，他们希望在形象和言论上表现出支持企业”

'All the signs remain that they want to look and sound supportive to business'

访谈：托马斯·沃尔德拜（Thomas Woldbye）

Interview. Thomas Woldbye

希思罗机场跑道支持者“不能永远等待”

Heathrow runway backers ‘cannot wait forever’

希思罗机场拟议的跑道扩建

Proposed runway expansion at Heathrow

地方议会特殊教育需求支出面临£10bn赤字

Councils face £10bn deficit on outlay for special needs

进行明智的投资

MAKE A WISE INVESTMENT

“这对[行业参与者]来说简直是一个巨大的耳光，而消费者则不得不面对高昂的账单”

FINANCIAL TIMES

学费争议考验伯纳姆重启欧盟关系的决心

Plan to cut heat pump subsidy scheme provokes industry fury

巴黎及其他国家希望在 11 月峰会前解决收费问题

‘This is just a big slap in the face to [industry players] and to consumers having to deal with high bills’

欧盟学生在英国留学的学费每年高达 3.8 万英镑。英国学生则支付约 1 万英镑

Student fee row tests Burnham's resolve to reset EU relations

伊朗在空军基地事件后遭到新制裁

Paris and other capitals want charges issue settled by November summit

顺利就职：阿布迪-瓦利加入威斯敏斯特的工党阵营

EU students pay fees of up to £38,000 a year to study in the UK. British students pay around £10,000

食品价格再次飙升：是时候解决我们的化肥问题了

Iran hit with new sanctions following air base incident

化肥供应链已至崩溃边缘

Click into place Abdi-Wali joins Labour ranks in Westminster

化肥转型可降低农业风险

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