FTSE 100 Seven Week Low At 6754

FTSE 100 Seven Week Low At 6754.

The FTSE 100 Index, the benchmark for the UK’s top 100 companies, fell dramatically today amid global economic and political fears.

FTSE 100 close today at 6754, a seven week low and a fall of 1.2% on Friday to 6760 and an additional minor fall yesterday.

This is the lowest point since 28^th April 2014.

The IMF has issued a downward forecast for US growth.

Oil prices are set to rise as tensions in Iraq continue to rise.

The Ukraine has not settled a multi-billion dollar gas bill owed to Russia and tensions mount there.

The UK is in focus with inflation pressure and interest rate rise pressure.  This has even prompted a small sell off, as predicted by us, in the fixed interest and gilt market.

Comment

Many clients have continually asked us why we have maintained our “amber” investment position for some months now and this is exactly why. 

Whilst we expect a slight increase in share prices tomorrow, we believe our own FTSE 100 benchmark high in the 6,800 is correct and we have set our own personal UK share investing point at 6,600, a slight increase on the 6,500 that was originally set given that markets have been quite stable for the last 3 months.