Word: herstatt
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Dates: during 1966-1966
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Since January, the rate of stock slippage has stepped up. Thus, Zurich values are down 6½% this year. Amsterdam is down 8½%, the German Herstatt index is off 12½% and Paris Bourse prices are down 2½%. There is one bright spot on the European market scene: after a very bad 1965, stoic British investors, convinced that inflation is here to stay and that stocks are the best protection, have upped the 'London Exchange 5.5% this year. And some groups of stocks, including gas, because of recent North Sea discoveries, and aircraft, because of improved profits...