The forthcoming interim reporting season for UK banks could have a big effect on investments, one expert has stated.
According to Julian Cane, manager of the F&C UK Equity Income Fund, the information released over the next few weeks will show whether the worst is over for the sector.
It will also provide guidance on the outlook for the performance of investments in the next six to 12 months, he stated.
Mr Cane said: "Up to this point bank losses have come from the treasury assets side but we are now getting to the point where, as the economy weakens, bad debt related to the more traditional banking cycle will start causing more pain."
He is still cautious over banking-related investments, but would welcome any positive news, Mr Cane added.
Earlier this week, research by Barclays Stockbrokers revealed that 47 per cent of those with investments in the FTSE expect the value of the index to rise in the next three months.
Bank reports will provide investment clue, expert claims
Bank reports will provide investment clue, expert claims
Fri, 01 Aug 2008
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