More firms upbeat, says analyst survey

A HIGHER proportion of companies are confident about the year ahead compared with last year, with increased dividend payouts and bolt-on acquisitions likely to be key themes for this year, according to a recent analyst survey by Fidelity Worldwide Investment.

These reflect the strength of the recovery of global economies, and a return to "normal" conditions, said the study, which polled 128 analysts based in Europe and Asia.

"This year's survey suggests company management teams are more prepared to put capital to work after a period of protracted caution," said Tim Orchard, head of equities, Asia ex-Japan at Fidelity Worldwide Investment. "As a result, we are moving into a more discriminating environment in which stock-specific drivers are likely to explain a larger part of investment returns."