Market rallies evidence of continuing volatility

Managers believe rise in indices shows it is still too early to call bottom of the market

Large rallies in global equity exchanges at the end of last week are being treated by fund managers as evidence of continued volatility rather than the bottom of the market. On 13 March, the FTSE 100 surged by 200 points, around 6%, the biggest one-day gain for more than 15 years. The previous day it had fallen to a seven-and-a-half-year low, dropping 5% to around 3280. Manager of the Schroder UK Alpha Plus fund, Richard Buxton, cautioned that while such daily volatility is indicative of a low point in the market, it is too early to be calling the absolute bottom on the back of one ...