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David Miller, partner at Cheviot, told Reuters that the market's fundamentals are "much better than in 2008".
His views may be held by others considering stock market investment, as since the start of trading the index has climbed to 5,171.84 at 11:12 BST.
This represents an improvement of 66.14 points on the opening level of 5105.70 and may herald the first day in which the FTSE 100 index has closed higher than it opened since September 1st.
Over the last two days of trading, the UK's stock market has shed nearly six per cent of its value as confidence was knocked by poor jobs data from the US and concerns over the future of Europe's sovereign debt situation.
However, Mr Miller commented: "Companies are generally in good shape and traders are less heavily leveraged."
Posted by Greg Secker
