SVM's McLean: FTSE will top 6,500 in second quarter

UK stocks will climb 10% over the next few months, said Colin McLean, managing director of SVM Asset Management, with industrials and financials set for the strongest rally.

The FTSE 100 has recently climbed to an eight-month high of just below 6,000, but McLean said the market could rally a further 500 points, now the largest headwind - a Greek default - has been removed from the market. "There is the potential for the market in the UK to move on by another 10%. Although the market has risen quite quickly from last September, most people have not got on board with the rally, as quite a lot of investors are still positioned defensively," said McLean. According to the SVM manager, who founded the Edinburgh-based asset management firm, the removal of this e...