Manager sees little interest to be earned from cash, believing buybacks would be more beneficial to investors
The FTSE opened sharply higher today at 5329.29, up 51.07 (0.97%), following a slight recovery on Wall Street after disastrous early trading yesterday.
US stock markets opened sharply lower in early trading following negative consumer and house price data.
Barclays jumped 8% in early trade after posting bumper annual profits, helping the FTSE to a 1.2% gain.
The FTSE was up 40.81 points (0.84%) to 5,185.53, buoyed by news of a tie-up between British Airways and American Airlines.
After last year's relatively poor showing, 2010 should prove to be a more rewarding time for equity income investors
The introduction of exchange-traded funds that are cheap, transparent and easy to trade has heralded a recent explosion in the number of different types of strategies available to the investor.
Mark Lyttleton is probably the one name that comes to most people's lips when describing a successful, popular implementation of an explicitly absolute return strategy. His fund's record is of consistent positive net of fees returns through the market...
The FTSE is up 0.71% to 5,198.05 in early trading as it tries to shake off a wobbly performance yesterday as uncertainty about the Greek bail-out plan weighed on European markets.