FTSE100 is 10% higher than 1 month ago

[Seagull58]

The "everything is just rosey" brigade won't mention the markets today, because they're slightly down.
Is it the end of the world to drop a bit? No. But does a slight rise mean the underlying economy is fine? No.
The more post-referendum information that comes out, the further they will gradually slide. Some days up, some days down. But heading south.

The FTSE 100 managed to claw back this morning's drop and finished in positive territory for the day, albeit the FTSE 250 fell by 60 points.Not bad considering the news from Nice and elsewhere.

 

[yxee]

The "everything is just rosey" brigade won't mention the markets today, because they're slightly down.
Is it the end of the world to drop a bit? No. But does a slight rise mean the underlying economy is fine? No.

This thread was of course created to counteract the "oh my god the market has plummeted" brigade from the 24th June...

So it is slightly ironic that you are saying this

 

[TSB]

'Dramatic deterioration' in UK business activity

Posted at
09:32

Chris Williamson, chief economist at Markit, said:

July saw a dramatic deterioration in the economy, with business activity slumping at the fastest rate since the height of the global financial crisis in early-2009. The downturn, whether manifesting itself in order book cancellations, a lack of new orders or the postponement or halting of projects, was most commonly attributed in one way or another to ‘Brexit’.

UK July PMI at seven-year low

Posted at
09:31

Markit's purchasing managers' index for July has come in at 47.7, the lowest reading since April 2009.

That's down from the June figure of 52.1.

The report is based on a survey of purchasing executives at 600 manufacturing companies and more than 650 services firms.

 

[BigGully]

'Dramatic deterioration' in UK business activity

Posted at
09:32

Chris Williamson, chief economist at Markit, said:

July saw a dramatic deterioration in the economy, with business activity slumping at the fastest rate since the height of the global financial crisis in early-2009. The downturn, whether manifesting itself in order book cancellations, a lack of new orders or the postponement or halting of projects, was most commonly attributed in one way or another to ‘Brexit’.

UK July PMI at seven-year low

Posted at
09:31

Markit's purchasing managers' index for July has come in at 47.7, the lowest reading since April 2009.

That's down from the June figure of 52.1.

The report is based on a survey of purchasing executives at 600 manufacturing companies and more than 650 services firms.

Look what did you expect regarding the accompanying scaremongering from people of some position in the run up to the referendum, it seems the decision making has been disrupted, nothing seems to have structurally deteriorated I am not sure you can even offer something that has actually changed, but business is just taking a breather and this is represented in these figures.

I think you have already stated that the FTSE will be a 1000 points lower at Christmas and good for you to actually giving us a figure, but lets revisit this and the FTSE's performance further down the line.

Why not offer perhaps 4 indicators that might represent the performance of the UK economy and has some historical comparable data that we can have a look at each month, just picking any news that might be perceived as proving your position to be correct can equally be trumped by us Leavers offering snippets of good news.

I am all for a fantasy economic forecast league ..........

 

[Deleted member 22389]

'Dramatic deterioration' in UK business activity

Posted at
09:32

Chris Williamson, chief economist at Markit, said:

July saw a dramatic deterioration in the economy, with business activity slumping at the fastest rate since the height of the global financial crisis in early-2009. The downturn, whether manifesting itself in order book cancellations, a lack of new orders or the postponement or halting of projects, was most commonly attributed in one way or another to ‘Brexit’.

UK July PMI at seven-year low

Posted at
09:31

Markit's purchasing managers' index for July has come in at 47.7, the lowest reading since April 2009.

That's down from the June figure of 52.1.

The report is based on a survey of purchasing executives at 600 manufacturing companies and more than 650 services firms.

Nothing changed here unless you make it change by talking down the economy. I have honestly gone past reading these stories now because next week it will change again.

 

[TSB]

Look what did you expect regarding the accompanying scaremongering from people of some position in the run up to the referendum, it seems the decision making has been disrupted, nothing seems to have structurally deteriorated I am not sure you can even offer something that has actually changed, but business is just taking a breather and this is represented in these figures.

I think you have already stated that the FTSE will be a 1000 points lower at Christmas and good for you to actually giving us a figure, but lets revisit this and the FTSE's performance further down the line.

Why not offer perhaps 4 indicators that might represent the performance of the UK economy and has some historical comparable data that we can have a look at each month, just picking any news that might be perceived as proving your position to be correct can equally be trumped by us Leavers offering snippets of good news.

I am all for a fantasy economic forecast league ..........

Ha. Yeah. When things start to point towards the obvious and inevitable, it must be the fault of all those who told you so.
The majority of business is running scared and that's what this figure represents.
We shall certainly revisit the FTSE figures at a later date.

 

[Poyningsgull]

You can read in to these stories what you like.

UK jobless rate now at an 11 year low
FTSE100 is at an 11 month high

Scaremongers like Mark Carney at the Bank and the Le Grande bird at IMF back tracking on earlier doom laden forecasts.

I am sure all these posts will be bounced back in an I told you so frenzy by one side or the other.

 

[The Clamp]

You can read in to these stories what you like.

UK jobless rate now at an 11 year low
FTSE100 is at an 11 month high

Scaremongers like Mark Carney at the Bank and the Le Grande bird at IMF back tracking on earlier doom laden forecasts.

I am sure all these posts will be bounced back in an I told you so frenzy by one side or the other.

http://uk.businessinsider.com/brexit...ampaign=buffer

 

[Poyningsgull]

Thought this deserved a bounce. FTSE doing very well.
Doom mongers keeping a low profile.

 

[knocky1]

Thought this deserved a bounce. FTSE doing very well.
Doom mongers keeping a low profile.

Read the early replies again to understand why a planned Brexit has helped the FTSE. See if you can spot the keywords: devaluation of sterling, lower interest rates, quantitative easing, multinational companies........

 

[nicko31]

The pound has lost 13% against the USD since the 22nd June.

Great news for the Chinese wanting to buy our football clubs

 

[Leekbrookgull]

They buy them anyway.

 

[wellquickwoody]

Thought this deserved a bounce. FTSE doing very well.
Doom mongers keeping a low profile.

You really don't grasp economics.....

 

[dazzer6666]

Read the early replies again to understand why a planned Brexit has helped the FTSE. See if you can spot the keywords: devaluation of sterling, lower interest rates, quantitative easing, multinational companies........

...any advice on when I should switch my rocketing ISA portfolio into cash then ?

 

[Mr Smggles]

Read the early replies again to understand why a planned Brexit has helped the FTSE. See if you can spot the keywords: devaluation of sterling, lower interest rates, quantitative easing, multinational companies........

No m8. It's gone up. That's good. Init.

 

[knocky1]

...any advice on when I should switch my rocketing ISA portfolio into cash then ?

6 weeks before the US Election and go back in a week before and it will rocket when Trump falls flat on his face.

 

[Driver8]

...any advice on when I should switch my rocketing ISA portfolio into cash then ?

Depends when you are likely to want to access it. If in the next year or two I would suggest now isn't a bad time to start to de-risk. As mentioned above the FTSE 100 isn't increasing because everything is rosey.

 

[dazzer6666]

6 weeks before the US Election and go back in a week before and it will rocket when Trump falls flat on his face.

...............might lump it all on a B365 offer instead

 

[dazzer6666]

Depends when you are likely to want to access it. If in the next year or two I would suggest now isn't a bad time to start to de-risk. As mentioned above the FTSE 100 isn't increasing because everything is rosey.

Not planning on accessing for another 5-10 years (if at all - will switch to income-generating at some point though), and not hugely FTSE-100 dependent anyway (wide global and industry spread in various funds rather than direct equities), very much a long-term view so will probably let it ride...........

 

[knocky1]

...............might lump it all on a B365 offer instead

Not a bad idea.

Depends when you are likely to want to access it. If in the next year or two I would suggest now isn't a bad time to start to de-risk. As mentioned above the FTSE 100 isn't increasing because everything is rosey.

Any ideas where?
JPMorgan have a few funds concentrating on specific countries or areas. My Indian one has gone up well but over 10% of that was from the drop in sterling. Despite that and the global economic future not looking roses I may stick more on that and some on JPM China.
Any more tips? When's oil coming back?