The UK market has rallied too far if fundamentals are considered, Hendersons' Richard Prew has warne...
The UK market has rallied too far if fundamentals are considered, Hendersons' Richard Prew has warned. Prew, who manages the Henderson UK Capital Growth fund, said: 'I simply do not believe the explanation being propounded for October's rises that investors are lengthening their time horizon in purchasing bombed-out stocks because they think the earnings cycle is turning. I still think reality, a year of earnings growth in 2003 nearer zero than the 13% in consensus forecasts, will disappoint many.' Prew believes the UK is in an era of slow growth and low inflation in a world characteris...
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