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European investor optimism continues to decline in October, according to UBS Index

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Individual investor confidence in October declined for the fifth consecutive month across Europe in the wake of fears of a war against Iraq, heightened threat of major terrorist attacks, and a deteriorating economic outlook.

The overall Index of Investor Optimism - EU 5 fell by 9 points to a level of -33 points in October, down from -24 in September, the lowest measure since the Index - EU 5 baseline survey was conducted in October 2001.

Investors' diminishing confidence for achieving their investment targets over the coming twelve months contributed most to the Index's decline. Over half of investors (52 percent) with an opinion believe that stock markets have yet to hit rock bottom, a slight increase from 47 percent in September.

London, October 28, 2002
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