Confirmation that the
FTSE 100 hit a six-year high has been welcomed by an
investments analyst.
This week, it was revealed that the
share index broke through the 6,500 barrier, in spite of recent
concerns about the impact of global
share price fluctuations at the end of February 2007.
On February 27th, the FTSE 100 dropped a full 2.31 per cent to
6,286.10 amid concerns about the security of
shares in Chinese markets.
Now, Edward Menashy, economist at investments company Charles
Stanley, has welcomed news of the milestone.
The resurgence of the UK and European
stock markets to capture the lost ground forfeited after the
February setback sends out the message that the prospect for a
recession has significantly reduced, he said.
Moreover, the investments organisation pointed out that, should the
share index hit 6,574, the FTSE 100 would have doubled its lowest
ebb of 3,287 recorded in March 2003.
The FTSE 100 was originally a joint venture between the
Financial Times newspaper and the London stock exchange.
It is now run independently as a means of tracking investments in
100 of the UK's largest listed companies.
