FTSE-100 Index

Back over 7100, approaching its intra-day all time high and above its closing all time high.

This is all thanks to the weak pound which is down to Brexit.
 
The FT250 index is well above its all time high which is a good indication that UK focussed companies are doing just as well as multi-nationals.
 
Whats the predicition for the pound? Is it going to keep on tumbling? Im off to America soon and need to decide whether to get my dollars now or leave it for a bit
 
CTID1988 said:
Whats the predicition for the pound? Is it going to keep on tumbling? Im off to America soon and need to decide whether to get my dollars now or leave it for a bit
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I read swiss bank estimated that we would level out around $1.20 to the pound once the dust had settled.

But I guess it all depends on soft/hard brexit etc.
 
west didsblue said:
Great for exporting but not so good for importing or going abroad for your hols. Should also help UK tourism significantly.
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Yep, im also very curious as to what will happen once the pound levels out, will the ftse stay high or drop back down, and if it drops will it plumet.
 
grunge said:
Yep, im also very curious as to what will happen once the pound levels out, will the ftse stay high or drop back down, and if it drops will it plumet.
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I think that the only thing that would cause it to plummet along with every other index in the world would be a Trump victory. I also think we will come to a pragmatic preliminary deal with Europe that will give business both here and in Europe a degree of certainty going forward. Even if it isn't as favourable as we might like it will allow business to adapt to the new reality. The thing that most causes markets to wobble is uncertainty and a Trump win will be a step into the unknown with very little upside.
 
Just preparing for Deutsch Bank to go under then it all crashes like fuck again....
 
west didsblue said:
I think that the only thing that would cause it to plummet along with every other index in the world would be a Trump victory. I also think we will come to a pragmatic preliminary deal with Europe that will give business both here and in Europe a degree of certainty going forward. Even if it isn't as favourable as we might like it will allow business to adapt to the new reality. The thing that most causes markets to wobble is uncertainty and a Trump win will be a step into the unknown with very little upside.
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Dunno, Pressing the article 50 button is a pretty major step into the unknown too!.
 
Len Rum said:
Many of the FTSE 250 firms are major exporters and have benefitted from the weak £.
The FTSE 100 is actually 5% lower in dollar terms than pre referendum.
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Not so sure about that. The pounds worth about $1.28 compared to $1.45 just before the vote, that's down about 12%.
The FTSE 100 is up from around 6200 to 7100, that's about 14%.
That makes the market about 2% up in dollar terms.
I've not included the wild fluctuations at the time of the vote.
 
grunge said:
Dunno, Pressing the article 50 button is a pretty major step into the unknown too!.
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Wouldn't say it's completely unknown territory. We know what the worst case is which is to default to WTO tariffs and any deal should be better than that. Even if it looks like we're heading towards no deal there will be time to implement contingency plans. The markets shrugged off the vote, I expect them to cope with actual Brexit slightly easier as we know it's going to happen.
 
Closed at a new all time closing high of 7120.3. Intra day peak was just short of the intra-day record high by less than 1 point.

Edit: Looks like it's been adjusted to 7074.
 
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west didsblue said:
Wouldn't say it's completely unknown territory. We know what the worst case is which is to default to WTO tariffs and any deal should be better than that. Even if it looks like we're heading towards no deal there will be time to implement contingency plans. The markets shrugged off the vote, I expect them to cope with actual Brexit slightly easier as we know it's going to happen.
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Thats the thing, we cant guarantee we can even default to WTO as that would need renegotiating with the WTO too. But yeah, our unknowns are a lot less unknown that possible apocalyptic Trump!.
 
I think the reality is that no one can predict how things will turn out. It's difficult. The experts at the IMF warned that a Brexit vote would have a "bad to very bad" effect on our economy. Today they have said that the UK will be the fastest growing major economy in the world this year. Experts, eh? Despite Brexit, unemployment continues to fall, the economy still grows, and the FTSE and 250 are performing well. Only the exchange rate is on a downer. I think most "leavers" would have taken this.

The thing that will help the transition is the resilience and pragmatism of the British people, who just get on with things. The FTSE seems to agree.
 
scousemanc said:
I think the reality is that no one can predict how things will turn out. It's difficult. The experts at the IMF warned that a Brexit vote would have a "bad to very bad" effect on our economy. Today they have said that the UK will be the fastest growing major economy in the world this year. Experts, eh? Despite Brexit, unemployment continues to fall, the economy still grows, and the FTSE and 250 are performing well. Only the exchange rate is on a downer. I think most "leavers" would have taken this.
The thing that will help the transition is the resilience and pragmatism of the British people, who just get on with things. The FTSE seems to agree.
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But we aren't actually out yet. We haven't negotiated an exit and we can't possibly know (or predict) the impact of Brexit until the terms are settled.
 
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