Top fund manager issues warning of stock exchange plunge

GRIM warnings that the FTSE-100 could yet plunge to 3,000 in the current uncertain global economic climate were made yesterday by a top fund manager in Britain.

Nicola Horlick, head of SG Assert Management said the prospect cannot be ruled out. One of Britain’s best known fund manager’s forecast, if it came true, would push the FTSE-100 index of top companies to its lowest level since the mid 1990s.

Ironically Horlick’s warning came the day the FTSE gained almost 2% on the back of strong oil gains and better than expected US data.