FTSE Strong despite Bombs
Written by JDPGlobal | Friday, 15 July 2005
The FTSE 100 struck a three year high this week. This is particularly encouraging given the initial pessimism given out from the London Bombings. The logic behind the rise of the FTSE was primarily due to encouraging U.S. Company and economic data, along with weaker than expected oil prices. The oil prices remained low to the (thankfully) less than expected destructive hurricane Dennis. Indexes elsewhere in Europe also performed strongly this week.
One leading analyst commented that strong earnings from the US aluminum maker Alcoa and news of modest US job creation was influencing the stock market.
