Black Beauty: A Recovering Quadruped

Many sectors of the Ftse had good runs in 05, particularly Metals and Property, such that a considerable proportion may now be fully valued.

Even Retailers - notably M&S, Halfords etc- enjoyed a very strong run in the last couple of months.

The 350 pushed through all time highs too so value is harder to find.

But in what sector has all this optimism been almost totally ignored? The domestic clearers of course.

Fears of consumer debt have probably been overplayed, the housing market(and mortgage approvals)have started to recover and worries about foreign expansion have affected some - but not Lloyds.

So next year could be the year of the Banks - I'd be quietly confident.

Happy New Year .