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Santa Rally?
albion
Posted: 01 December 2017 09:29:21(UTC)
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Joined: 02/02/2016(UTC)
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The UK market doesn't seem to be in any mood for a 'Santa' rally this year being very much range bound with Brexit no doubt having an influence. Any thoughts?
Keith Cobby
Posted: 04 December 2017 11:54:20(UTC)
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Earlier in 2017 I predicted 8,000 for the FTSE100 by year end. But then again I sold my UK Equity Income trusts!
Tim D
Posted: 04 December 2017 21:11:25(UTC)
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Keith Cobby;53904 wrote:
Earlier in 2017 I predicted 8,000 for the FTSE100 by year end.


Hmmm... that needs a 9% rise from where we are today. Given that about 70% of a sterling movement seems to come out in the index (inverse direction: sterling depreciation makes foreign earnings more valuable), that could maybe happen if the pound crashed 12%, which would pretty much take it to spot-on 1:1 pound-euro parity (which various pundits have actually forecast at various times since the brexit referendum). Today's shenanigans don't seem to have upset recent optimism... yet. Guessing it'll need something like a complete collapse of negotiations, Tory regicide and/or a fresh general election to knock it down that much... but not inconceivable...
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