Standard Life Picks Barclays, BP to Lift U.K. Stocks in 2011
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Standard Life Plc, which correctly forecast the U.K.’s FTSE 100 Index’s 13 percent rise in the last quarter of 2010, is betting on low-valued stocks such as Barclays Plc and BP Plc to push the index up 15 percent in 2011.
Britain’s benchmark index of 100 leading companies will reach 6,900 points by the end of this year as firms raise dividends and profit from the economic recovery, David Cumming, Standard Life’s head of U.K. equities, said yesterday. Edinburgh-based Standard Life manages 109.8 billion pounds ($170 billion) in U.K. assets and is the fourth-largest pension fund manager in the country.