UK market outlook

The first year of the new millennium was a tumultuous period for UK investors. Following the impact of the launch of the single European currency, world markets started the year on tenterhooks over the possible fallout from the Y2K computer date changeover. Central banks, eager to ensure there would be no financial crisis, pumped liquidity into markets. When the new year delivered nothing more serious than a big party hangover, cash-rich investors poured into the stock market to inflate a bubble that had been swelling for some weeks in highly fashionable technology stocks. The technology b...