All doom and gloom out there? I don't think so...
As of yesterday the FTSE 100 was up just over 9 percent compared to its lowest point in July this year
This is a big move and reflects the rotation into the value end of the UK equity market. Sectors that have led the way include Banks (up 24 percent), Household Goods, which include the house builders (up 23 percent), General Retailers (up 20 percent), Media and Real Estate (each up 19 percent), Travel & Leisure (up 18 percent) and Beverages and Pharmas (both up 17 percent).
What might help sustain a breakout? At least three things might: sterling's slide, which would help dollar earnings and dividends, weaker oil prices, which would help bring inflation down and the growing prospect of a cut in Bank Rate.
The purpose here is simply to point out what could be an encouraging development - even if the market stumbles around for a bit.
Source - Brewing Dolphin, Mike Lenhoff - Chief Strategist
Member since: 10th July 2012
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