Predictions of progress in the market during next year towards a closing figure of around 6800 have been described as New Star Fund Manager as being feasible.

The firm notes that the variations in share prices seen towards the end of this year show a market beset by uncertainty.

Stephen Whittaker, joint chief information officer and manager of the New Star UK Growth Fund, said: “I believe that as audited company end-of-year results are released in the new year the market will gain confidence from the greater transparency.

He added that this clarity will enable the unpredictability of the market to reduce as the year continues.

Last week, global asset manager F&C; reported that the market had been “surprised” by the decision of the monetary policy committee of the Bank of England to cut interest rates, with predictions of a tight decision having been made when the committee’s minutes are published later this month.

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