Shareholders pessimistic

THE MAJORITY of small investors lack confidence, with 43 per cent believing that it is a bad time to buy stocks and shares, according to a MORI survey for ProShare, the Government-funded organisation promoting wider share ownership.

In the survey, carried out last month, only 37 per cent of the 462 private shareholders in a sample of 2,000 adults felt it was a good time to invest. The most popular sector - 40 per cent - for investment was food and drink. Also considered worthwhile were investments in chemicals and pharmaceuticals, oil and gas, entertainment and leisure and overseas markets in general.

Small investors have the least confidence in property and construction, a sector dogged by a number of recent disasters: 47 per cent felt that it would be a bad sector in which to invest, with only 9 per cent thinking it would be a good investment.

Also unpopular were investments in motor vehicles and metals and minerals mining.