Britain's FTSE index hits 10-mo high despite Brexit hysteria

London's FTSE 100 rose for a fourth straight session on Friday to reach its highest level since last summer, recovering from the initial negative impact caused by the UK’s vote to leave the EU in a referendum last week.

The index was up 0.34 percent, reaching 6,527 points at 10:00am GMT. As the voting results came in last Friday, the FTSE fell more than eight percent during early trading, but recovered to close three percent in the red.

After another losing session on Monday, the market took a dramatic upturn, and the FTSE is now on track for its biggest weekly gain since December 2011.

Read More:
https://www.rt.com/business/349113-ftse-jumps-despite-brexit/

Reply 1

datboii

ftse 100 involves international companies that can reduce risk easily and mainly trade other currencies not the pound. Hence it is a bad indicator.

ftse 250 has not been doing well and it is a far better indicator.

Reply 2

Observatory

Original post by datboii

This is widely asserted - how true is it? JPMorgan Emerging Markets Investment Trust (FTSE 250) probably doesn't have more UK exposure than Next (FTSE 100).

Maybe there is a skew when you look at all companies - but I don't trust journalists and haven't seen numbers.

Reply 3

Dez

Original post by Observatory

Neither of them are going to be perfect. Simply using one number to judge an economy's health isn't going to cut the mustard really.

Reply 4

ikhan94

Its still not increasing the exchange rates though...

Reply 5

datboii

Original post by Observatory

Well the newspapers have reported this so im simply saying what they said to you. Having seen it in multiple articles i think its pretty true.

But technically because FTSE 250 encompasses more companies it would be better. But like the other person said neither is perfect. But on a larger scale the markets have been erratic

Reply 6

Observatory

Original post by datboii

Well the newspapers have reported this so im simply saying what they said to you. Having seen it in multiple articles i think its pretty true.
I disagree. I find journalists very unreliable sources of technical information.

Reply 7

Betelgeuse-

Berluddy nora - We should Brexit every week and become richh

Reply 8

datboii

Original post by Observatory

I disagree. I find journalists very unreliable sources of technical information.

Whatever. You cant exactly deny the facts though. Journalists dont just pluck the raw facts out of the air even if they qualitatively manipulate something

Reply 9

Observatory

Original post by datboii

Whatever. You cant exactly deny the facts though. Journalists dont just pluck the raw facts out of the air even if they qualitatively manipulate something

I don't think the journalists do any quantitative analysis at all; manipulating quantitative analysis is well beyond their competence. They report third hand descriptions.

Reply 10

Desi123

Strong username :yep:

HSBC and Barclays have also said they're staying:
http://uk.businessinsider.com/brexit-fallout-hsbc-and-barclays-pledge-to-remain-in-the-uk-2016-7

Original post by Betelgeuse-

Berluddy nora - We should Brexit every week and become richh

[video="youtube;sEoIuqS6CNU"]https://www.youtube.com/watch?v=sEoIuqS6CNU[/video]

Reply 11

datboii

Original post by Observatory

I don't think the journalists do any quantitative analysis at all; manipulating quantitative analysis is well beyond their competence. They report third hand descriptions.