UK investors appear uncertain as to the future direction of the FTSE 100 index, despite the recent rally in the markets.
According to new research from Barclays Wealth, 39% of investors felt the impending fortunes of the market were too difficult to call.
A third (34%) said they were bullish, believing a recovery was under way, while 27% admitted to being bearish.
"The highs and lows of the FTSE in recent months have clearly divided investors when it comes to their outlook for the market, and the UK's economic recovery," said Barbara-Ann King, Head of Investments at Barclays Stockbrokers.
"Investors have faced, and are still facing, unprecedented challenges throughout the economic crisis, but are clearly taking it as an opportunity to gain from volatility."
The survey follows hot on the heels of Skandia Investment Group predicting that equity markets will continue to rise, despite last month recording their first monthly fall since February.
The group said that the falls in October had been generally modest, led by a drop in the banking sector over fears that reforms would undermine profitability.
However, it added that markets still remained sharply higher on the year so far, albeit below the levels seen at the time of Lehman's demise.
"We expect markets to resume their upward march into year-end, with small caps continuing to outperform as financing conditions continue to ease and investors increase their exposure to riskier assets," said SIG Chief Investment Officer, James Millard.
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