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‘Limited gains’ for Lloyd’s
27 Oct 2009Lloyd's of London today called time on the rally in the stock market.
The world's oldest insurance market believes that the scope for further gains on its investments has become “increasingly limited” as the recovery in the equity and bond markets runs out of steam.
In recent months, returns on its investments have been better than expected thanks to a dramatic surge in share and bond prices. But Lloyd's has left its expectations for trading for the year unchanged, believing this recovery has now run its course.
Lloyd's said: “We expect that current market levels will make it difficult to achieve significant returns in the balance of the year.”
