Britain’s top share index hit its highest point since 1999 on Monday, leaving optimistic shareholders hoping for a record high in the coming months.
The FTSE 100 crept up by 2.52 points to 6,801.67 points, just 2.2% off of the country’s all time high.
In the season so far, 66% of FTSE 100 companies that have reported results have come in in-line with or ahead of expectations, recent data by Thomson Reuters StarMine has shown.
Toby Morris, senior sales trader at CMC Markets, said to Reuters:
“As a whole, we haven’t had too many bad shocks with regards to results. However, it’s a little bit concerning how many firms are coming out and being a little bit tentative about 2014 … it puts a bit of a dampener on things.”
Some high profile companies have reported falls in shares, leaving predictions less certain.
The WPP group, which is the world’s largest advertiser, was down 6.3% despite reporting strong trading and the Royal Bank of Scotland was down 5.6% after reporting an £8.2 bn loss.
These falls present a warning to investors that we’re not out of the dark yet. Morris said:
“We’re so far from being out of the other side of the tunnel with this stuff, it’s unbelievable. It’s another reminder that we’re six years on from the onset of this, and they’re still paying for it more than ever.”