FTSE at 7,400 next year? BoAML tips strong rise

In a note to clients, the group said UK stocks could rise 30% by 2015 as a result of positive factors, with the FTSE 100 hitting 7,400 next year. "We estimate UK equity market cap could rise by 30% by 2015," the note said. "We maintain our FTSE target of 7,100 for mid-2014, and introduce a target of 7,400 for FY14." The number chimes with a prediction from Old Mutual's Richard Buxton who said the FTSE 100 would trade between 6,500-7,300 points as we head into 2014. BoAML said in the note that while the UK economy is gathering pace, monetary policy will likely remain loose, suppo...