FTSE 100 2009 High
Published / Last Updated on 14/10/2009
by Ashley Clark, Director
The FTSE 100 Index hit another high for 2009 at 5,247.07 yesterday.
This was on the back of strong mining results as well as speculation of a takeover of Anlgo-American by Swiss mining giant Xstrata, although this has since been denied.
In the current global recession, mining had done exceptionally well as people look to Gold, Silver, Diamonds and other gems as secure investment holdings. Indeed, demand for Gold is still huge.
We suggest caution. We suggest this is a false stockmarket bubble and expect some correction in the coming weeks.
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