At EM, although overall sales were relatively in line with initial expectations, the lower-margin Asia business had a stronger than expected quarter, which was offset by a pronounced slowdown in the Americas region.

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If he manages to win this year, it is likely to be by less than that, which would make him the first President in a hundred and twenty-four years to win a second term by a smaller margin than in his initial election.

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And, like other shares, but unlike mutual funds, they can be bought on margin (ie, for an initial downpayment) or sold short (ie, borrowed and sold in the hope that the price will fall) which allows much more sophisticated trading strategies.

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Lucrative service revenue, which can often represent a multiple of the initial purchase price and bring in a net profit margin well above the companywide 11% enjoyed last year.

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Local banks appear to share the confidence, extending margin loans for up to 90% of the initial share price.

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