FTSE-100 Record High3 Feb 2023 21:30
All this bullishness in the market, big money will be looking at how high the FTSE-100 is and wondering how much higher it can go. This will have them looking closely at the stocks below the 100, into the 250, 350, small caps, and AIM. So I fully expect some rerating of stocks below the 100 over the next few months. Any stocks with big potential and/or big news are likely to fly. I'll keep holding while AFC keep working on it, as they can't be far away from sales of Power Towers now, and then there's the 100kW and 200kW S Series coming soon too.
From Proactive Investors:
"The FTSE 100 index reached new all-time records on Friday boosted by strength in its preeminent dollar-earnings constituents as the US currency got a boost from a much stronger-than-expected January US payrolls report which heightened expectations the Federal Reserve will remain hawkish on interest rates in spite of its more moderate comments on future hikes following this week's rate rise."
"At the finish, the UK blue chip index was up 81.64 points, or 1.0% at 7,901.80 above the old closing high of 7,877.45 hit on 22 May 2018, but was below the new intra-day peak of 7,906.58 which had surpassed the previous intraday peak of 7,903.5 also hit on 22 May 2018."
"Celebrating the achievements, Victoria Scholar, head of Investment, interactive investor, said: “Despite last year’s equity market volatility and a slowing global economy, the FTSE 100 is defying the doom and gloom, hitting an all-time high, surpassing its peak from before the pandemic in May 2018. The UK large-cap index has sharply outperformed the mid-cap FTSE 250 index over the last year which has been much more closely correlated to the UK’s economic and political uncertainty. The FTSE 100 is an outward-looking index which has enjoyed gains thanks to certain sectors which have benefitted from rising energy prices and interest rates."