Each week, a professional investor tells MoneyWeek where he’d put his money now. This week: Toni Meadows, chief investment officer, Ashcourt Rowan.
Sluggish economic growth, limited scope for further cost-cutting and weak labour productivity improvements mean that many UK companies are likely to see muted profit growth in the near future.
Indeed, consensus earnings expectations for the FTSE 100 have been cut by approximately 8.5% since January and now imply that overall earnings for the year may fall slightly compared to 2013.
This may be why the FTSE 100 index has failed to break through [...]