Equity markets have begun 2013 with more than their
usual bout of New Year enthusiasm, buoyed by an improvement in
investor confidence and tentative signs that the global economic
landscape may be stabilising.
US
The S&P 500 Index has enjoyed its longest rally since 2006
and finally broke through 1500 for the first time in over five
years as improving investor sentiment continues to drive markets
forward. To add to the easing of 'fiscal cliff' worries,
three-quarters of S&P 500 companies beat analyst forecasts for
fourth quarter corporate earnings, admittedly only after
expectations had been lowered in advance. The market rally
continued despite the market's former most valuable stock,
Apple, falling by more than 10% on the back of cautious earnings
guidance and concerns about its ability to sustain its past levels
of growth. After an anxious end to 2012, political tensions in
Washington eased after the House of Representatives agreed to
suspend, though only
