Another day, another all time high. As the week closed, the FTSE 100 index hit 8,433 — the highest level it has ever reached — and this is turning into a regular occurrence. The FTSE has now hit 11 all-time-highs over the last month, and it is close to equalling the record set way back in 1984 of 12 all-time-highs within a single four-week period. Add in a mega-bid and better than expected growth figures and it may look as if the UK is booming again.
Well, perhaps. In reality, however, all that is happening is that the FTSE 100 is finally recovering from two decades of miserable under-performance — and it would have to go a lot higher to break any real records.
The FTSE 100 would have to go a lot higher to break any real records.
There is no question the UK equity market is having a moment. It is up by 10 per cent since the start of the year, and breaking decisively though the 8,000 barrier for the first time.
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