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Yes New Brexit is the underlying reason the FTSE 100 is a national embarrassment. I voted for it and regret it after refusing "buyers remorse" for years!! After the drop in January I was confident we'd recover but its been unable to stay above 7200 and now its dropped below 7000 - again!! In that same period most European and US indices have hit RECORD levels several times.
You can bet your life if the FTSE was doing that Farage and Johnson would be shouting from the rooftops. There silence is deafenin
Yes New Brexit is the underlying reason the FTSE 100 is a national embarrassment. I voted for it and regret it after refusing "buyers remorse" for years!! After the drop in January I was confident we'd recover but its been unable to stay above 7200 and now its dropped below 7000 - again!! In that same period most European and US indices have hit RECORD levels several times.
You can bet your life if the FTSE was doing that Farage and Johnson would be shouting from the rooftops. There silence is deafening.
I think you're right denby. We were 6500ish in February and I can see us getting close to that this autumn. I'm out of this now and started shorting so hoping to claw back some of my loses on the way down.
Worth noting that all other major indices have had a record breaking year yet the FTSE 100 has got no where near its record highs, in fact 12% below it and could be 20% + before the year is out!!
Thanks Cheap. and agree the FTSE is not a sell. Astonishing it's so cheap and volatile. I was hoping the US would have diverted funds from their markets to ours by now but not the case. To think we went below 7000 on Thursday!!
I don't think that a circa 200 point drop is a correction denby. That's not to say bit wasn't painful because it was, I can assure y9ou!! My holdings are in a cfd and although I had stop loses in place I took a tremendous hit after building up a nice position leading up to breaking through the 7200 level last Friday.
Thinking next week will be a grind up but 7200 may not happen until the following week.
That explains a lot kt, thank you!! We certainly have a lot of ground to make up!!
It still perplexes me the extent of the FTSE100 underperformance. In mid February 2020, just before the pandemic, the FTSE was at circa 7600. This week the French, Germans and Americans all hit ANOTHER record high yet we can't get to pre pandemic levels, let alone our record high of circa 7900!!
If we kept pace with those counties this year we'd be over 8200!!
Surely it's only a matter of time (soon I hope!!) that we are approaching those 2 milestones mentioned above.
I do denby. I believe it'll tick up to the 7300 range in September and after the next quarters results season, which I think will be excellent, this will be the catalyst for a good run in to the year end.
Hope it's not just wishful thinking!!
Convinced this will begin to tick up from this week as yield is attractive and an excellent result fortnight has not yet reflected in the share prices of LLOY,BARC, RDSB,BP etc.
Also strong resistance at 7100 so only way is up!!
7300 in September and then 7500 + by calendar year end
Hi kt.
Well that was a disappointing week to say the least!! Good results from the "big guns" but with all the other news from China and Covid concerns the FTSE struggled after touching 7090 on Thursday. Really expected it to kick on into the 7100's but it struggled at times to stay above 7000!!
What's your view on next week? We have results from HSBC, LGEN and Prudential, amongst others.
Unilever's 6% drop on Thursday dented the FTSE's rise after Monday's sell off. Unilever will recover slowly next week and that along with the results from BAT, RDSB, Astra, GSK, LLoy, BARC, BAE etc , should take us up to at least 7200.
If these heavyweights cannot move the dial from their current low levels then the FTSE 100 is well and truly finished.
Last week it was LESS than the beginning of January!! Surely it can only go up??
I am heavily invested in this index and very nervous about the upcoming results season. Logic tells me the bar has been set so low the results will beat expectations and the outlook will be cautiously optimistic. Trouble is have little confidence as the FTSE 100 continues to perform miserably, compared to its peers.
Does anyone expect us to hit 7300 in August - this year!!?