Motley Fool: Why Shares Have Risen
October 23rd, 2006 | POSTED BY ROB
The FTSE 100 index rose to a five-and-a-half year high of 6,172 points last week. But it was only five months ago when some pundits were warning that shares may slump.
At the time, there were worries that higher interest rates may send shares lower. A fund manager at EFG Asset Management, which oversees £1.2b worth of investment, reportedly said, “We took some money out of European stocks.” Meanwhile, AXA Investment warned, “European stocks are set to take some hits.” But they weren’t alone. An equity strategist at Charles Stanley cautioned, “Investors are taking some chips off the table.”…
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