Market to rally in early 2004

THE next six months will bring a stock market rally of between 10% and 15% and the Dow Jones could reach a new all-time high, according to Davy stockbrokers.

But the Bank of Ireland-owned broker also warned these gains would be wiped out in the second half of the year and that stock markets would finish 2004 at the same levels they began the year.

In its first research of the New Year, Davy said it expected the Irish stock exchange to have a better year than other European exchanges and that value-based investing would yield the best results once more this year.