It has been a remarkable year for the General Retail sector, with the UK index´s 33 per cent rise comfortably outstripping gains in the rest of the market. However, 2013 has also seen high single-digit downgrades across the space. That has left valuations (the average price-to earnings multiple sits now at 15 times´ next year´s forecast profit) quite stretched, wrote Credit Suisse on Friday. [Fri 12:15]
Nelson Mandela, who led his country to democracy after serving 27 years in prison, has died aged 95. President Zuma of South Africa said in a televised address: "The founding father of our nation has departed. May his soul rest in peace. God bless Africa." Mr Mandela, the anti-apartheid icon who became his country's first black president, died peacefully in his home with his family at his bedside. - The Times [Fri 07:33]
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