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FTSE index ends year at record high.


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Old 03-01-2017, 23:13
TheDC
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Could also fall to 3000. Anything is possible
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Old 04-01-2017, 02:10
Resonance
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I doubt it too, especially if the Hard Leavers get the upper hand.

I'm planning on moving my portfolio into a more defensive mode.
According to some of the vocal remainers on here hard Brexit would cause another fall in the pound (even the mention of it does apparently). According to the same remainers the reason the FTSE is doing so well is because of the weak pound. So surely hard Brexit should help the FTSE even more?

Of course before the referendum we were promised a stock market crash, with those nasty old Brexiters' pensions being in tatters as a result.
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Old 04-01-2017, 07:28
LostFool
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According to some of the vocal remainers on here hard Brexit would cause another fall in the pound (even the mention of it does apparently). According to the same remainers the reason the FTSE is doing so well is because of the weak pound. So surely hard Brexit should help the FTSE even more?
Only if you live in a linear world where you think that if a small amount of something has some benefits then a large amount of it must be even better.

And of course there is more to the state of the domestic economy than the level of the FTSE (especially the 100). Another significant fall in the pound would affect the costs of imports, especially oil/gas, drive up inflation and make UK companies cheaper to takeover. We can't "take back control" with a weak currency.
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Old 04-01-2017, 19:43
Rooks
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I doubt it too, especially if the Hard Leavers get the upper hand.

I'm planning on moving my portfolio into a more defensive mode.
I'm not sure there's such a thing anymore, not since 2008. Defensive stocks just mean you'll lose a little less and gain a little less but largely they seem to move in the same direction as riskier stocks now. Even bonds seem all over the place in recent years. The markets have lost the ability to judge based on the quality of investment and it's become one giant betting shop.

Personally, I'm going to sell all my investments in a few months and wait until the geo-political and geo-economic environment settles down.

But as I say, if you have the stomach for it, there's money to be made this year imo.
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