NATO leaders are holding their annual summit as Ukraine looks to the security alliance for support in its attempt to push back invading Russian forces. The Vilnius communique, however, while emphasising NATO's support for Ukraine, gave no clear timetable on when the country might be able to join the alliance, in a major disappointment for Ukrainian President Volodymyr Zelenskyy, who had travelled to the Lithuanian capital. "Ukraine's future is in NATO," the leaders said in the joint statement on Tuesday. "We will be in a position to extend an invitation to Ukraine to join the alliance when allies agree and conditions are met," the declaration said, without specifying the conditions. The communique also touched on the Asia Pacific, with the leaders of Australia, Japan, New Zealand and South Korea all attending as NATO allies. It said China was a challenge to NATO's interests, security and values with its "ambitions and coercive policies" triggering a furious response from Beijing. And it accused Beijing and Moscow of "mutually reinforcing attempts to undercut the rules-based international order". China has said it wants peace in Ukraine, but has not condemned Russia's full scale invasion since it began in February 2022. NATO is a defensive Alliance. It is the unique, essential and indispensable transatlantic forum to consult, coordinate and act on all matters related to our individual and collective security. We reaffirm our iron-clad commitment to defend each other and every inch of Allied territory at all times, protect our one billion citizens, and safeguard our freedom and democracy, in accordance with Article 5 of the Washington Treaty. We will continue to ensure our collective defence from all threats, no matter where they stem from, based on a 360-degree approach, to fulfil NATO's three core tasks of deterrence and defence, crisis prevention and management, and cooperative security. We adhere to international law and to the purposes and principles of the Charter of the United Nations and are committed to upholding the rules-based international order. This Summit marks a milestone in strengthening our Alliance. We look forward to our valuable exchanges with the Heads of State and Government of Australia, Japan, New Zealand, and the Republic of Korea, as well as the President of the European Council and the President of the European Commission at this Summit. We also welcome the engagements with the Foreign Ministers of Georgia and the Republic of Moldova, and with the Deputy Foreign Minister of Bosnia and Herzegovina, as we continue to consult closely on the implementation of NATO's tailored support measures. This is an historic step for Finland and for NATO. For many years, we worked closely as partners; we now stand together as Allies. NATO membership makes Finland safer, and NATO stronger. Every nation has the right to choose its own security arrangements.

We will work together to foster global economic growth, while harnessing the power of technological innovation, in particular digitalization, and its application for the benefit of all. We are resolved to build a society capable of seizing opportunities, and tackling economic, social and environmental challenges, presented today and in the future, including those of demographic change. This recovery is supported by the continuation of accommodative financial conditions and stimulus measures taking effect in some countries. However, growth remains low and risks remain tilted to the downside. Most importantly, trade and geopolitical tensions have intensified. We will continue to address these risks, and stand ready to take further action. Fiscal policy should be flexible and growth-friendly while rebuilding buffers where needed and ensuring debt as a share of GDP is on a sustainable path. Monetary policy will continue to support economic activity and ensure price stability, consistent with central banks' mandates. Central bank decisions need to remain well communicated.

The efficient stock market hypotheses (EMH) has been the subject of much controversy and research since its publication. The EMH is an investment theory that asserts that it is impossible to out perform market returns. According to the hypothesis, it is not possible because of stock market efficiency. Stock market efficiency causes share prices to incorporate and reflect all pertinent market information. By the nature of this assertion it makes it impossible for the stock to be either over or undervalued.