Investors Bet U.K. Stocks Can Banish Brexit Blues

The U.K. benchmark, the FTSE 100, is up nearly 8% since Dec. 1 in dollar terms. That puts it well ahead of the S&P 500, the MSCI World and the Euro Stoxx indexes, despite the U.K. beingThe recent market rally doesn’t make up for its stark underperformance since the U.K. voted to leave Europe in 2016. In dollar terms, the FTSE 100 is still below where it closed on June 23, 2016, the day of the Brexit referendum.

As investors move money into U.K. assets, they need to buy the British currency, and that should lift the pound. Savvas Savouri, chief economist at Toscafund Asset Management, a $4 billion hedge fund, believes the pound’s fundamental value in euros is about €1.30 apiece. But since Dec. 23, it remained flat at €1.11 before rising to €1.12 on Wednesday.

Donald Trump is the first president to lose the popular vote twice and to be impeached twice.

Money talks

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

U.S. Bank Stocks Shine as Investors Bet on an Economic RecoveryInvestors, eager to get exposure to an economic recovery, are pouring into bank stocks like never before, putting the stocks on track for what could be their best year on record compared with the S&P 500.
Source: WSJ - 🏆 98. / 63 Read more »

New ETF Will Let Individual Investors Bet On The Business Of SportsA new ETF will let individual investors bet on the business of sports It's boring to sit at home alone, looking for someone to spend time with
Source: Forbes - 🏆 394. / 53 Read more »