There's no need to panic over rallying market

A few months ago our sister title Investor's Week asked a number of fund managers where they thought the FTSE would be at the end of the year. Most agreed on a level of between 5,000 to 5,500. Then came 11 September and the freefall in world markets. However, as some predicted, a rally took hold that pushed the index to a level more than 6% above its close on 10 September. Having breached the 5,000 barrier and so far held firm despite the start of war in Afghanistan, the question again hangs in the air: now what? Vodafone is largely to thank, or blame if you were betting against the ind...