Stockbrokers are predicting further strong growth for Irish stocks in 1999 with the ISEQ Index set to rise from around 5,000 to 5,750 by year end.
Brokers were heartened to see the surge in European markets following the successful launch of the euro this week and if this trend continues it may prompt some upgrade in these forecasts later in the year.
The most bullish forecasts are being made by ABN Amro which predicts the ISEQ Index will rise to 5,750 by year end. NCB suggests it will end up closer to 5,500 while Goodbody is slightly less optimistic, predicting a 1999 out-turn of around 5,400. Again, the brokers expect the leading financial and industrial stocks will drive the index forward with potential also among the second liners.
If their forecasts prove right and investors pick the winners, they can expect another year of solid returns.
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/VR3765MFOBH2NMV2QNICYDF67M.png)