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The reason why the shares are moving today: Swedish activist investor Cevian Capital said it had taken a 4.1 percent stake in Anglo-South African insurer Old Mutual (LSE: OML.L - news), arguing the market had undervalued the company's shares.
That could be said for many a share on any stock market. Some have been knocked down by 90% or more since their highs. Quesion though is will OML and other like insurers still be as "undervalued" when they have to bail out huge funds on claims and insurance underwriting when the US and other major markets get fed up with the inflationary tactics being used to re-inflate their markets. I doubt any governmaent has a big enough cheque book to see this one to the end without some very unintended side affects... I do believe we will see a few more days of up and up but the markets will cool sometime this month to re-asses the hype and if it is sustainable.