Blackrock in bullish mood

MARKETS could rally sharply amid signs of solid growth in the US and China, according to the boss of investment titan Blackrock.

Better economic data and a pause in interest rate rises create ‘Goldilocks’ conditions for a rebound, Larry Fink said as Blackrock reinforced its position as the world’s biggest fund manager, sucking in an extra £50bn to give it total assets of £5trillion.

Fink said many big investors are waiting for signs of solid growth before they pump money into stocks. He said: ‘There’s too much global pessimism. There’s still a lot of money on the sidelines, and I think you’ll see investors put money back into equities.’

Blackrock also raised the alarm about climate change. Richard Turnill, chief investment strategist, said: ‘Decisive actions to curb carbon emissions could mitigate damage. Climate change is increasingly a risk that investors cannot afford to ignore.’