Banks were among the best-performing UK shares this year as elevated interest rates provided a boost to the sector, despite concerns over the domestic economic recovery. Shares in NatWest delivered the highest returns this year to the middle of December, rising 101 per cent including the price increase and dividends, according to investment site Hargreaves Lansdown. Barclays was the fifth best-performing stock, with an 81 per cent rise.
Aside from banks, “recovery” stocks — those that have the potential to bounce back after a fall — have also performed well. John Moore, senior investment manager at wealth manager RBC Brewin Dolphin, pointed to aerospace company Rolls-Royce and British airways owner IAG. The shares have risen by 94 per cent and 84 per cent respectively on a total return basis. “Rolls-Royce might just be the poster child for ‘recovery’ not just this year but for the decade,” said Moore.
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