Not owning the “greatest stock out there” is better than owning the worst stock, according to Fundsmith boss Terry Smith.

We expected the Budget to be a surprise to the markets,” Richard Hughes, chair of the Office for Budget Responsibility, has said.

Global equities saw their first outflows in six months in September, according to the latest data from the Investment Association. Overall, there were £3.4bn of outlaws in the month, with investors ...