“FTSE 100 skyrockets and pound rallies as markets react to Labour Party’s landslide victory”

Jul 5, 2024 | Investments

‘Won’t the markets crash if Labour wins? Should we move everything to cash just in case?’ Well, no, apparently not. In fact what markets hate is uncertainty. A big majority certainly brings certainty: we know who’ll be in charge for the next five years or so. Yes, there will (hopefully) be changes but they won’t be fought over and we can see that the moneymen, at least, are not fearful of the Daily Mail’s predicted ‘Starmergeddon’. The other good news for our own fossil-fuel-producer-dominated FTSE, although not for those of you clinging on to petrol and diesel cars (smug EV driver alert) is the rise in the oil price, which has and will push up the oil companies share prices. Again. And if you’re off on foreign hols, it’s been good for the £, too, so you’ll get a few more Euros for your sterling. Win, win, so far. Or, in the words of Ed Davey on Friday morning, Sweet Caroline.

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“FCA to take action against Neil Woodford and WIM”

“FCA to take action against Neil Woodford and WIM”

It’s ten years now since Neil Woodford launched his own fund management company. He was seen as a miracle-working fund-management guru in our business for many years, running highly successful equity income funds with Invesco, formerly Invesco Perpetual.

“LSEG report: Most active funds are underperforming their benchmarks”

“LSEG report: Most active funds are underperforming their benchmarks”

So-called ‘tracker’ or ‘passive’ funds have become very much more sophisticated in recent years, largely facilitated by technology. The originals, you may remember the Virgin UK Index Tracker, launched nearly 30 years ago, mimicked the FTSE index and, as they don’t need anyone to manage them, were and are very much cheaper than ‘active’ funds.