Scottish investors are cautious on recovery

Published on Saturday 5 December 2009 13:13

MOST private investors in Scotland believe economic recovery remains a distant prospect and continue to invest cautiously as a result, research has revealed.

More than 50 per cent of Scottish respondents to the fifth annual Investor Confidence Survey by broker TD Waterhouse believe the UK is in a W-shaped double-dip recession, compared with 36 per cent of investors elsewhere in the UK.

Nearly four in 10 Scottish respondents to the survey said their biggest concern for 2010 would be saving money for their short-term needs, whereas the majority south of the Border said job security and saving for retirement were higher on the list. Angus Rigby, chief executive of TD Waterhouse UK, said: "It is interesting to note the mixed views regarding the shape of our economy, and it is clear that many investors do not think we are out of the woods just yet. The ongoing global turmoil has obviously given investors food for thought regarding their investment choices this year and it is encouraging to see that investors are still making profits despite adopting a cautious investment approach."

The broker also revealed that Lloyds Banking Group's 13.5 billion rights issue helped propel a sharp rise in trading levels in the week to 1 December. It said trades were up 39 per cent on the previous week.