British Stocks Comeback Invigorates the FTSE 100
The Financial Times Stock Exchange 100 Index (FTSE 100) rose 1% on Friday as GBP fell behind USD due to the released job data. The index’s tendency towards commodity and banking stocks shows that global economic policies, including the US and EU increase in interest rates to control inflation, have benefited the FTSE 100 growth. Additionally, China’s reopening and the gas price cooling down (thanks to mild winter weather) has accelerated the rally, and many European countries will profit from the growth.
Janet Mui, head of market analysis at RBC Brewin Dolphin, said that in a hypothetical global recession, the FTSE 100 exchange will still be an attractive market thanks to its defensive nature and the Energy and material sectors will make more profit if China’s reopening succeeds. Nonetheless, a recovering pound has hindered the commodities rally, and if the market demand after China’s reopening ends, the FTSE 100 index will be susceptible to depreciation. Moreover, the FTSE 100 index growth does not reflect UK’s economy as it is under the influence of pound swings. The sterling’s price movements also show that the currency has gained 13% value from a record low in September thanks to the hopes that the UK economists can prevent or at least postpone a recession.
Source: www.pipsafe.com – British Stocks Comeback Invigorates the FTSE 100
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