Investors' confidence has fallen slightly during the past month, but two-thirds of people still expect the FTSE 100 to hold on to its recent gains, research said yesterday.
A third of investors expect the stock market to continue rising during the next six months, although this is down on the 40 per cent who expressed optimism last month.
About 30 per cent of private investors think the FTSE will fall, compared with only 24 per cent the previous month, while 37 per cent expect it to still be at its present level in six months time, according to JPMorgan Fleming Asset Management.
The group's investor confidence index fell for the second month in a row during last month to 67, from 83 in July, although it is still well up on March's level of 45.
Peter Brewster, head of market research at JPMorgan Fleming, said: ''Investors are clearly in two minds as to where the stock market is going from here.
"Having seen the FTSE 100 increase by around a quarter from its mid-March lows, some investors are now querying whether the rally could be sustained."
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