Since the tail end of last year, markets have experienced a sea change in terms of sentiment, with investors swapping expensive mega-cap growth stocks for cyclical, value-based names as vaccine roll-outs continue and as economies tentatively begin to open up.
A key indicator of this is the FTSE 100 index, which comprises largely of economically-sensitive sectors such as mining, utilities and oil & gas. While the blue-chip index fell by 11.6% last year and was one of the worst-performing regional indices, according to FE fundinfo, it is the second-best performing market since the start of the year to time of writing (15 April), having risen by 8.6%. With numerous market commentators predicting an uptick in inflation as the economy pieces itself together, and an eventual tapering of loose monetary policy further down the line, could the outp...
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