Analysis

Over the past few weeks, the UK market has been experiencing some broadening out, and we have seen the defensive sectors playing catch-up with good share price rises in tobacco and food producers, for example.

Small T&T sector is beginning to rebound on improved economic data, seen in strong earnings growth

The S&P 500 hit a low of 677 on 9 March 2009 but has since recovered strongly.

It may be too soon to talk about the green shoots of economic recovery, but fiscal and monetary stimulus packages have certainly started to have an effect.

Despite equalling the record for the number of successive days of gains on UK and US equity markets, it is worth noting that neither has made much ground since the turn of the year.

As 2009 has progressed, I have become increasingly confident about the positive direction of European equity markets.

It was not that long ago I found myself writing for this column and since then it feels like markets have been running on slick tyres in the wet; in other words, working quite hard without much progress, and conditions proving to be quite dangerous and...

One step forward, half a step back. This is how we anticipate the rhythm the UK economy will be into 2010.

Equity markets in the second quarter bounced in response to the unprecedented policy actions around the globe.

The strong Wall Street rally between March and May reflected relief among investors that the official policy response to the crisis had prevented a repeat of the Great Depression.