Bullish seers predict further FTSE climbs

The FTSE 100 is expected to eke out a further small gain in 2010, according to a poll of strategists by Reuters.

After a 54% rise since March to 5,500, the FTSE 100 is expected to eke out a further small gain in 2010. A quarterly Reuters poll of strategists reveals an average forecast of 5,800 for the end of 2010.

But according to Graham Secker of Morgan Stanley, although the index's exposure to commodities and emerging markets (the latter comprise a fifth of revenues) suggests that profits could rise sharply, much of this is already in the price.

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