Benjani, left, celebrates with Robinho after scoring Manchester City's third goal.
Benjani, left, celebrates with Robinho after scoring Manchester City's third goal.

City edge past FC Twente



Manchester City overcame their stuttering league form to beat an FC Twente side managed by the former England coach Steve McLaren in their UEFA Cup group game. City, who have won just once in their last six Premier League games, beat the Dutch outfit 3-2 at Eastlands with goals from Shaun Wright-Phillips, Robinho and Benjani but still looked vulnerable in defence. "We're trying really hard to get out of that," Shaun Wright-Phillips, City's opening scorer, told ITV.

"We've been told about it by the boss and we keep letting it happen so it's something we have to work on." Tottenham, unbeaten in four matches since Harry Redknapp took over from former Sevilla coach Juande Ramos, got their UEFA Cup campaign back on track thanks to a Darren Bent hat-trick that added to a 4-0 victory over Dinamo Zagreb. The striker scored two goals in the first half and slotted home another late on after Tom Huddlestone fired home a volley from outside the box just before the hour.

Aston Villa also edged past Slavia Prague to win 1-0 and top Group F. The Brazilian star Ronaldinho struck deep into injury time to give favourites AC Milan a 1-0 win at home to Braga while twice winners Sevilla suffered a 1-0 defeat at Standard Liege. Ronaldinho came off the bench just after the hour mark to help the Serie A leaders finally break the resistance of their Portuguese opponents with a sweetly struck shot from Gennaro Gattuso's pass.

On a good night for the Italian league's top two, Udinese won 2-1 at Spartak Moscow and in a clash of former winners, CSKA Moscow deepened Feyenoord's woes with a 3-1 win in Holland. The seven-times European champions Milan top Group E on six points, ahead of VfL Wolfsburg who joined Braga on three points after making their UEFA Cup group stage debut in style by thrashing Heerenveen 5-1. In Belgium, Dieudonne Mbokani's coolly finished first-half strike proved the undoing of the 2006 and 2007 champions Sevilla as Standard followed up their fine first-round victory over Everton with an opening Group C win over the Spaniards.

They join Sevilla on three points alongside Sampdoria and VfB Stuttgart after the Germans left it late to beat the Serbian champions Partizan Belgrade 2-0 thanks to Mario Gomez's fourth and fifth goals of the competition. The Brazil striker Vagner Love also made it five goals in four games as 2005 champions CSKA Moscow won 3-1 at Feyenoord to consign the twice winners to a second successive defeat. Lech Poznan and AS Nancy drew 2-2 in the other Group H match.

Udinese maintained their 100 per cent Group D record when Italy striker Fabio Quagliarella struck either side of a Clemente Rodriguez equaliser for Michael Laudrup's Spartak Moscow side. Racing Santander and 1997 winners Schalke 04 drew 1-1 in the other Group A fixture while Ajax Amsterdam were the sole Dutch winners after beating Zilina 1-0. The former winners Galatasaray won 2-0 at Benfica in Group B where Hertha Berlin played out a 0-0 draw at Metalist Kharkiv.

In Group G, FC Copenhagen grabbed a late 1-1 draw at Valencia and St Etienne beat Rosenborg Trondheim 3-0. *Reuters

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What should do investors do now?

What does the S&P 500's new all-time high mean for the average investor? 

Should I be euphoric?

No. It's fine to be pleased about hearty returns on your investments. But it's not a good idea to tie your emotions closely to the ups and downs of the stock market. You'll get tired fast. This market moment comes on the heels of last year's nosedive. And it's not the first or last time the stock market will make a dramatic move.

So what happened?

It's more about what happened last year. Many of the concerns that triggered that plunge towards the end of last have largely been quelled. The US and China are slowly moving toward a trade agreement. The Federal Reserve has indicated it likely will not raise rates at all in 2019 after seven recent increases. And those changes, along with some strong earnings reports and broader healthy economic indicators, have fueled some optimism in stock markets.

"The panic in the fourth quarter was based mostly on fears," says Brent Schutte, chief investment strategist for Northwestern Mutual Wealth Management Company. "The fundamentals have mostly held up, while the fears have gone away and the fears were based mostly on emotion."

Should I buy? Should I sell?

Maybe. It depends on what your long-term investment plan is. The best advice is usually the same no matter the day — determine your financial goals, make a plan to reach them and stick to it.

"I would encourage (investors) not to overreact to highs, just as I would encourage them not to overreact to the lows of December," Mr Schutte says.

All the same, there are some situations in which you should consider taking action. If you think you can't live through another low like last year, the time to get out is now. If the balance of assets in your portfolio is out of whack thanks to the rise of the stock market, make adjustments. And if you need your money in the next five to 10 years, it shouldn't be in stocks anyhow. But for most people, it's also a good time to just leave things be.

Resist the urge to abandon the diversification of your portfolio, Mr Schutte cautions. It may be tempting to shed other investments that aren't performing as well, such as some international stocks, but diversification is designed to help steady your performance over time.

Will the rally last?

No one knows for sure. But David Bailin, chief investment officer at Citi Private Bank, expects the US market could move up 5 per cent to 7 per cent more over the next nine to 12 months, provided the Fed doesn't raise rates and earnings growth exceeds current expectations. We are in a late cycle market, a period when US equities have historically done very well, but volatility also rises, he says.

"This phase can last six months to several years, but it's important clients remain invested and not try to prematurely position for a contraction of the market," Mr Bailin says. "Doing so would risk missing out on important portfolio returns."

THE DETAILS

Director: Milan Jhaveri
Producer: Emmay Entertainment and T-Series
Cast: John Abraham, Manoj Bajpayee
Rating: 2/5


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