Market is left uncertain as it awaits US landing

European markets are torn between hopes for a soft landing in the US and fear of the opposite, according to Jamie Sanderson, fund manager of the Edinburgh European CI unit trust. Sanderson says economically sensitive stocks will see a strong rally in the event of a soft landing across the pond, however, a hard landing would see the same stocks hit badly. According to Sanderson, the market as a result is priced at a level somewhere between the two possible outcomes. Amid this uncertainty he has been increasing his weighting in defensive stocks. Stephen Macklow-Smith, manager of the Flemin...