Mark Nelson, Senior Equity Analyst at Killik & Co, said “The FTSE 100 hit another all-time high yesterday following four consecutive days of gains for the UK large cap index. The index, at the time of writing, is up by c. 5% year to date, supported by what has been a solid earnings season so far and a decline in bond yields over the past two weeks and it was a theme that continued in yesterday’s trading session, with some better than expected corporate results and an overall dovish US Federal Reserve lending a hand. Despite the FTSE 100 outperforming its US peers so far this year, UK indices continue to trade at significant valuation discounts, not least due to differing sector exposures. “





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