Brokers give forecasts a lift

Article Abstract:

Profit forecasts for many UK companies have been revised by stockbrokers, but the general trend appears positive. Forecasts for W.H. Smith were downgraded after that company issued a profit warning, with a consensus at some 115 million pounds sterling. Tate and Lyle saw forecasts revised upwards with good returns from emerging markets, and a strong contribution coming from its subsidiary, Staley. Electricity utilities saw some downgrades, though Midlands and Eastern were exceptions to this trend.

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UK: back the big boys

Article Abstract:

The share price of large UK companies could perfrom better than medium-sized companies from 1996, according to UBS. The FT-SE mid-250 has performed well due to a strong UK economy, low inflation and the strength of pound sterling in relation to the US dollar. This looks set to change, affecting share prices for medium firms. Medium firms may stiil perform well in the long term and could perform better than larger firms in 1997. These companies also offer investors an opportunity to diversify.

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A question of perspective(long-term performance of equities)

Article Abstract:

Gerrard and National (GNI) has developed a measure for the long-term performance of equities. A composite index is used to assess performance over almost 300 years. Share performance appears to follow growth in gross domestic product (GDP) in money terms, with or without inflation. Major bear moves have followed credit and other booms such as the 1980s credit boom leading to the 1987 crash. Bull markets tend to last longer than bear markets, which show sharper movements.

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