|
||||||||
FTSE 100 down 5 per cent over the year in dollar terms |
![]() |
|
|
|
Thread Tools | Search this Thread |
|
|
#1 |
|
Forum Member
Join Date: Jun 2009
Location: Los Angeles CA
Posts: 2,590
|
FTSE 100 down 5 per cent over the year in dollar terms
Quote:
Last night, Conservative MP Michael Gove, who campaigned for Vote Leave, tweeted that the FTSE had hit a record high “despite Brexit”. Yet economists have cut the UK’s growth forecast for next year on the back of the Brexit vote. So what is going on in the market, and what does it mean? Why is the FTSE 100 rallying? Part of the answer is that the decent growth of the FTSE 100 is itself a simple currency effect. The pound is currently down about 10 per cent against the euro since the EU referendum in June, and is 17 per cent weaker against the US dollar. Brexiters appear to have recently discovered devaluation as an economic cure-all. Good for the UK we are asked to believe, and would be good for Greece, Italy , France etc. also good for Venezuela and Zimbabwe , oh wait perhaps not these. Just another sign of the archaic nature of their understanding of economic policy. |
|
|
|
|
Please sign in or register to remove this advertisement.
|
|
|
#2 |
|
Forum Member
Join Date: Mar 2016
Posts: 979
|
I know Americans think the dollar is all but it really isn't and the FTSE for one thing is not measured in dollars.
For a reality check the FTSE is actually at a record high http://www.bbc.co.uk/news/business-38467258 |
|
|
|
|
|
#3 |
|
Forum Member
Join Date: Jun 2009
Location: Los Angeles CA
Posts: 2,590
|
Quote:
I know Americans think the dollar is all but it really isn't and the FTSE for one thing is not measured in dollars.
For a reality check the FTSE is actually at a record high http://www.bbc.co.uk/news/business-38467258 |
|
|
|
|
|
#4 |
|
Forum Member
Join Date: Jul 2012
Posts: 17,632
|
Quote:
I know Americans think the dollar is all but it really isn't and the FTSE for one thing is not measured in dollars.
For a reality check the FTSE is actually at a record high http://www.bbc.co.uk/news/business-38467258 ![]() For what it's worth, here's the Guardian version on 'the best performing European market' https://www.theguardian.com/business...s-donald-trump |
|
|
|
|
|
#5 |
|
Forum Member
Join Date: Jun 2009
Location: Los Angeles CA
Posts: 2,590
|
Quote:
Yep, the usual nonsense thread. But the anguish fascinates me.
![]() For what it's worth, here's the Guardian version on 'the best performing European market' https://www.theguardian.com/business...s-donald-trump Perhaps we should devalue Sterling by another 20% then ? or is that the plan anyway ? |
|
|
|
|
|
#6 |
|
Forum Member
Join Date: Jul 2012
Posts: 17,632
|
Quote:
Precisely the same information I'm afraid: the FTSE has been artificially pumped up, point wise, by the Sterling devaluation following the referendum.
Perhaps we should devalue Sterling by another 20% then ? or is that the plan anyway ? |
|
|
|
|
|
#7 |
|
Forum Member
Join Date: Jun 2009
Location: Los Angeles CA
Posts: 2,590
|
Quote:
What a terrible day it would be for you and TheEngineer (and where on earth is NetNut?) if something could not be cobbled together online from the crazy wing of the Independent or an even more obscure website to suggest GB is going down the pan.
|
|
|
|
|
|
#8 |
|
Forum Member
Join Date: Jul 2012
Posts: 17,632
|
Quote:
so you are neither disputing that the FTSE in down 5 % yoy when rebased on an international benchmark, nor that Sterlng devaluation seems the one and only policy of Brexiters to keep the UK going, should we leap into the abyss ?
|
|
|
|
|
|
#9 |
|
Forum Member
Join Date: Mar 2016
Posts: 979
|
Quote:
so you are neither disputing that the FTSE in down 5 % yoy when rebased on an international benchmark, nor that Sterlng devaluation seems the one and only policy of Brexiters to keep the UK going, should we leap into the abyss ?
|
|
|
|
|
|
#10 |
|
Forum Member
Join Date: Jun 2009
Location: Los Angeles CA
Posts: 2,590
|
Quote:
why would you need to rebase the FTSE on an international benchmark when it is already measured in a currency that is an international benchmark.
https://www.bloomberg.com/news/artic...st-an-illusion Sterling in now very much an emerging market currency, due to you Brexiters, hence the illusory performance of the FTSE ! if only Zimbabwe had a functioning stock market eh, all Brexiters would be rich. |
|
|
|
|
|
#11 |
|
Forum Member
Join Date: Mar 2016
Posts: 979
|
Quote:
By your own ridiculous Brexiter logic we should have all invested in the Venezuela stock market because that was the best performing in 2016 :
https://www.bloomberg.com/news/artic...st-an-illusion Sterling in now very much an emerging market currency, due to you Brexiters, hence the illusory performance of the FTSE ! if only Zimbabwe had a functioning stock market eh, all Brexiters would be rich. And the US economy is doing just dandy in your little world I guess http://www.usdebtclock.org/ still what is $20 trillion between friends eh? |
|
|
|
|
|
#12 |
|
Forum Member
Join Date: Mar 2003
Posts: 4,518
|
Quote:
And the US economy is doing just dandy in your little world I guess
http://www.usdebtclock.org/ still what is $20 trillion between friends eh? The ironic thing is that there are individuals and companies looking at this as a "once in a generation" opportunity to buy up UK assets on the cheap. Imagine those Brexiteers when they find out the house they are renting is owned by a "foreigner"
|
|
|
|
|
|
#13 |
|
Forum Member
Join Date: Mar 2016
Posts: 979
|
Quote:
So if the US is that bad - how much worse must Sterling be viewed for it to have lost so much value against the dollar?
The ironic thing is that there are individuals and companies looking at this as a "once in a generation" opportunity to buy up UK assets on the cheap. Imagine those Brexiteers when they find out the house they are renting is owned by a "foreigner" ![]() |
|
|
|
|
|
#14 |
|
Forum Member
Join Date: May 2005
Posts: 59,670
|
Quote:
And if you had bothered to read the post you would understand that this is an artificial effect of the Sterling devaluation.
On the bright side, if you have a US Tracker fund held in Sterling, the value will be up about 30% on the year. |
|
|
|
|
|
#15 |
|
Forum Member
Join Date: Mar 2003
Posts: 4,518
|
Quote:
The "once in a generation" opportunity to buy up Britain on the cheap has been going on ever since Geoffrey Howe removed most of the restrictions on buying British companies and assets. In short it has been going on for 40 years so you can drop the faux Brexit outrage on this one
|
|
|
|
|
|
#16 |
|
Forum Member
Join Date: Jul 2015
Posts: 276
|
How is the ftse doing if rebased to the euro? That's the main comparison here is it not?
|
|
|
|
|
|
#17 |
|
Forum Member
Join Date: Mar 2016
Posts: 979
|
Quote:
Can you tell me the last time the GBP/USD rate was at this level for a sustained period.
|
|
|
|
|
|
#18 |
|
Forum Member
Join Date: Mar 2003
Posts: 4,518
|
Quote:
Well I could look it up but then so could you so I won't bother.
|
|
|
|
|
|
#19 |
|
Forum Member
Join Date: Jun 2009
Location: Los Angeles CA
Posts: 2,590
|
Quote:
And the US economy is doing just dandy in your little world I guess
http://www.usdebtclock.org/ still what is $20 trillion between friends eh? Sterling I'm afraid is not . Sterling is so volatile and subject to political whims now that it is traded like an emerging market currency. Think pesos. no one rebases anything against Sterling apart from you and maybe someone at the Daily Express. |
|
|
|
|
|
#20 |
|
Forum Member
Join Date: Aug 2016
Posts: 1,001
|
Quote:
The US dollar is a reserve currency,
Sterling I'm afraid is not . Sterling is so volatile and subject to political whims now that it is traded like an emerging market currency. Think pesos. no one rebases anything against Sterling apart from you and maybe someone at the Daily Express. |
|
|
|
|
|
#21 |
|
Forum Member
Join Date: May 2008
Location: Lancashire
Posts: 8,253
|
Well I suppose if Brexit is a failure we could always try lend/lease again, worked well last time ....... didn't it?
|
|
|
|
|
|
#22 |
|
Forum Member
Join Date: Jun 2009
Location: Los Angeles CA
Posts: 2,590
|
Quote:
What is it against the Euro, up or down?
Jan 1 2016: ftse100 6242 , gbp/eur 1.3567 dec 30 2016 : ftse 100 7210, gbp/eur 1.1699 so ftse rebased @ 30 Dec = 7210 * 1.1699/ 1.3567 = 6217 = loss of 0.4% on ftse 100 @ 1 jan 2016 |
|
|
|
|
|
#23 |
|
Forum Member
Join Date: Jul 2012
Posts: 17,632
|
So let me get this right.... the FTSE is rubbish, the currency is rubbish, inward investment is rubbish, unemployment levels are rubbish, visitor numbers/ spend is rubbish, in fact any indicators of success or stability since June 2016 are actually signs of Armageddon.
Roll on 2017 and A50! |
|
|
|
|
|
#24 |
|
Forum Member
Join Date: May 2008
Location: Lancashire
Posts: 8,253
|
Quote:
So let me get this right.... the FTSE is rubbish, the currency is rubbish, inward investment is rubbish, unemployment levels are rubbish, visitor numbers/ spend is rubbish, in fact any indicators of success or stability since June 2016 are actually signs of Armageddon.
Roll on 2017 and A50! ![]()
|
|
|
|
|
|
#25 |
|
Forum Member
Join Date: Jun 2009
Location: Los Angeles CA
Posts: 2,590
|
Quote:
So let me get this right.... the FTSE is rubbish, the currency is rubbish, inward investment is rubbish, unemployment levels are rubbish, visitor numbers/ spend is rubbish, in fact any indicators of success or stability since June 2016 are actually signs of Armageddon.
Roll on 2017 and A50! do you accept that FTSE 100 is showing a loss yoy in dollar terms, or indeed in euro terms? yes or no will do. (and the less said about FTSE 250 the better for you Brexiters eh) |
|
|
|
![]() |
|
|
All times are GMT. The time now is 10:24.



