Rathbone's Chillingworth predicts bear market rally

The UK market is on course for a short-term rally, although we have not seen the end of the credit cr...

The UK market is on course for a short-term rally, although we have not seen the end of the credit crunch, according to Rathbone’s CIO Julian Chillingworth. “Since June, equity markets have had a torrid time, and they are now looking seriously oversold on a technical basis,” he said. “This means we could experience quite a strong bounce in the near term, which would undoubtedly help sentiment. However, my guess is that this will be nothing more than a bear market rally.” Chillingworth said since June equity markets have seen a sell-down of around 18%, although positive news from the US...