Fifth rally looking more sustainable

The current rally, the fifth since the start of the equity bear market in 2000, looks more sustaina...

The current rally, the fifth since the start of the equity bear market in 2000, looks more sustainable than its predecessors. Some of the key uncertainties, notably over Iraq and oil prices, have been removed. Valuations are supportive and the economic and corporate newsflow, which was previously so incessantly negative, is at last showing signs of stabilising. There were some strong performances from high yielding stocks that surprised the market with small increases or merely by holding the payment. However, the mood of most retail savers is still cautious. This lack of confidence,...