In recent weeks, the FTSE 100 has been stuck in a narrow trading range, from which it may have diffi...
In recent weeks, the FTSE 100 has been stuck in a narrow trading range, from which it may have difficulty moving. The main reason for this is the lack of cyclical stocks within the leading index, which has neutralised the positive impact of a more buoyant outlook for the global economy. It is our view that equities look cheap relative to bonds and we have seen the worst of the earnings downgrades. Forecasts are looking better and brokers have gone as far as to say that spring is in the air. They justify this with estimated earnings growth of 7% for this year and 15% for next from FTSE...
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