When commodity
prices are in an upward trend, Emerging - Market
equities are generally strong relative to US
equities and
Russian equities are generally strong relative to Emerging - Market
equities.
In February, Bertrams, the UK's second - biggest book wholesaler, was sold to private
equity backer Aurelius for half the sum it originally bid for the business (which itself seemed like a knock - down
price for a business with sales of more than # 200m); last week the UK's biggest high street book chain Waterstones was sold to activist investor Elliott Advisors for a sum thought to be considerably less than its
Russian owner Alexander Mamut once wanted; and this week the UK's biggest printer of black and white books, Clays, with sales of # 77m, was sold to Italian printer Elcograf for # 23.8 m.