Simon English: Crisis, what crisis? Footsie stays unfazed
Thursday 15 December 2011
Outlook What's up with the stock market? Hasn't it been told there's a crisis on? It fell more than 100 points yesterday, but in general the FTSE 100 is acting as if there's no possible trouble ahead. It's more turbulent than usual (100-point moves used to be news in themselves) but at 5,367 it is signalling that everything is basically fine.
What's going on? One theory is that equities, theoretically the most risky asset class, are presently seen as the closest to a safe haven that exists. In other times of strife, investors abandon shares and pile into government bonds on the basis that, well, entire countries don't go bust very often.
Just now, big companies are seen as safer than countries. That's quite scary. Take heart, if you can, from the reams of evidence that investors aren't always right. Often not, in fact.
- 1 Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
Weather bomb in pictures: Storms cuts power for tens of thousands – and snow is on the way
Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
Russell Brand was rendered speechless on Question Time by this man
Fury at Airbus after it hints the super-jumbo may be mothballed
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
Shock poll shows voters believe Ukip is to the left of the Tories
Nigel Farage's approval rating hits 'record low' as popularity suffers in wake of Ukip sex scandal
Ukip candidate jokes about 'shooting peasants' in racist and homophobic rant
Pakistan school attack live: Taliban kill at least 132 children in 'horrifying' massacre
Germany sees 'visible rise' in support for far-right extremism in response to perceived 'Islamisation' of the West
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