Until now, Mr. Todd had been predicting the market would fall 14% from today's level by the end of the year.

到目前为止，托德一直预测市场到今年年底会较当前水平下跌14%。

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'We think equities will now trade above' his previous target for this year, Mr. Todd said in his report, 'in large part because earnings will be higher than we previously anticipated.'

托德在报告中说，我们认为证券现在的价格会高于此前设定的全年目标水平，在很大程度上是因为收益会高于我们此前预期。

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Mr Todd had been employed at a state-owned research body at the time of his death.

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But speaking to the BBC's PM programme, Mr Todd labelled the idea a "stupid gambit".

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The problem, according to Mr Todd, is that there has been no real focus to its mass market development.

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