FTSE Underperforming Its Peers
While there still appears to be the prospect of a Santa Rally as we head into the final trading week of the year, the FTSE 100 is underperforming its global peers.
Over the last 25 years, it has become apparent that it is normal for December to be a strong trading month for investors in shares. The FTSE 100 in particular benefits from festive joy, while in the summer the adage is ‘sell in May and go away’. The FTSE 100 has rallied by 2.4 percent over the last eight weeks of the year, on average, for 18 out of the past 25 years, but it seems like this year might buck that trend, as the last few weeks have been poor for the UK’s leading index, and over the course of the whole year the FTSE 100 has gained just 6.47 percent.
Compare that to the Hang Seng, which has gained 30.77 percent, or the Dow Jones which is up by 23.51 percent, and it’s clear that the FTSE 100 is suffering. Even the European indices, which are showing more muted growth, are outperforming the FTSE 100. The French CAC40 is up by 10.62 percent, and the German DAX is up by 14.89 percent. The FTSE 100, however, is struggling under the weight of UK politics and the slow pace of the Brexit negotiations, as well as the dovishness of the Bank of England’s policies regarding inflation - which are vastly different to the stances adopted by the Fed and the ECB.
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