Bullish on mid caps

Stuart Fowler, head of UK equities at Axa Investment Managers, is bullish the current rally will continue until at least early next year and expects the FTSE to hit 6000 before the end of 2001. He bases his optimism on a perceived change in market sentiment since 21 September. Government stimulus, the aggressive rate cuts seen of late, allied to the cost cutting exercises many companies are currently engaged in mean investors no longer have to hope that the economy may recover, he argued. Companies are cutting costs to ensure profit growth does resume. Fowler has positioned his portfoli...