FTSE 100 back to 5,000 by end of 09, says Brewin Dolphin

The FTSE 100 could rebound up to the 5,000 mark by the end of next year, predicts Mike Lenhoff, chief...

The FTSE 100 could rebound up to the 5,000 mark by the end of next year, predicts Mike Lenhoff, chief strategist at Brewin Dolphin. Despite overcalling the FTSE 100 closing level for the end of 2008 - estimating 7,200 - Lenhoff believes there is a strong possibility equity markets could end 2009 on an upbeat. Lenhoff cited three reasons as the basis for last year's forecast: he predicted interest rates would be slashed earlier in the year - but this expectation was quashed by the rise in commodity prices; he anticipated an economic recovery and believed there would be attractive valuation...