European indices have started the week in a buoyant mood, as some of the major banks have released extremely healthy profit numbers. A far cry from profit expectations in this sector 18 months ago, but if you were able to continue to lend at 5% + and borrow at fractions of 1%, you would be doing quite well also.
Still, these results are a sufficient catalyst to take the equity markets even higher. And with mid summer looming, these equity markets could continue to rally for the next 4-6 weeks. In fact some of our high net worth clients are expecting another 5% or more on the FTSE 100 Index, before reality checks start creeping in sometime in the autumn.’
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