Some other stock market Cassandras call it the "dash for trash": a huge rebound of highly indebted, consumer-cyclical stocks that were on the verge of collapse. Once traders realised that government-backed lending banks would take a more lenient stance than previously thought when it came to refinancing their huge debt piles, they hoovered up illiquid stock – especially as these type of companies are most likely to profit from the Government and Bank of England's stimulus measures to inflate the British economy.   Related Articles Miners lead the charge as FTSE 100 rises 22pc in 2009 All-singing ITV hits the high notes again Miner rally despite more warning bells Hot property, but losing streak continues Banks and miners lead FTSE 100 rally Gold hits record against euro on fear of Zimbabwean-style response to bank crisis In the case of Pendragon, it managed to secure a £530m three-year financing deal with its banks in the middle of the year, helping it end 2009 as the best-performing stock in the FTSE All Share index.[Read more...]