Back From Spain

Morningstar columnist Rodney Hobson is back from his Spanish holiday and ready to rant about the recent rally, retail and reckless political ravings

Rodney Hobson 28 September, 2012 | 12:16AM
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An Unfounded Rally

The stock market usually falls apart as soon as my back is turned - so what on earth caused a 2% surge in the FTSE 100 index in the first week that I was out of the country? The answer, sadly, is nothing in particular.

I cannot feel that my attempts to prop up the Spanish economy for a couple of weeks will do much to solve the euro crisis, though I was intrigued to see that Spanish roads are now in the same state that ours were 20 years ago, while ours are now in the same state as Spain's were back then.

While I was away, there was no international economic news of any great import, nor were there signs of improvement back home - indeed, Chancellor George Osborne looked as out of his depth as ever.

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About Author

Rodney Hobson

Rodney Hobson  is a columnist for Morningstar.co.uk and author of several investing books, including The Dividend Investor and How to Build a Share Portfolio.

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