Chaos as FTSE soars past 6,000 to push top UK companies' value above 1 trillion pounds sterling

Article Abstract:

The UK's leading companies were valued at more than 1 trillion pounds sterling for the first time following the rise in the FTSE 100 index of leading shares to more than 6,000. The sharp rise in the index has prompted criticism of the Stock Exchange's order-driven trading system, which some observers believe has been discredited by dramatic fluctuations. The rise in the FTSE was prompted by a widely-held belief that investors would invest extensively in personal equity plans following the 1998 Budget.

Analysis, Financial Times Stock Exchange 100 Index (Index)

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The economy is in good shape - it's just shares that are struggling

Article Abstract:

Stock prices have weakened but this need not affect the wider economy. Corporate profits do not appear to be threatened by an economic downturn, and Bill Clinton's comments on the soundness of the US economy appear to be accurate. United Kingdom companies have achieved greater profitability than for some decades, and corporate earning growth volatility has been reduced. Inflation is relatively high in the UK but is compatible withthe UK's rate of economic growth.

United Kingdom, Economic aspects

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