Another half year has passed since 5 April 2011, and in that time the markets have done a 180 degree turn. When we last sent valuations out it seemed that recovery was on the way with the FTSE 100 having reached a new high of 6,106 since mid 2010. However, since late July 2011 the European debt situation and worries about global demand have left an shadow of uncertainly over the markets. The FTSE 100 closed today at 5102.17.

Until recently, inflation has been the primary worry with rising fuel and food prices but the tables have turned and global growth concerns have been troubling investors. Over the past month we have seen gold reach record highs, increases in unemployment, and amid growth concerns the Bank of England keeping interest rates on hold. The ‘R’ word has been infiltrating the news again and people are tightening their belts.