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Buoyant year for FTSE and pound

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posted on Jan, 2 2007 @ 04:58 AM

A welter of takeover activity pushed the FTSE index of leading shares nearly 11% higher in 2006 while the pound made substantial gains against the dollar.

The index of top 100 shares closed the year up 602 points at 6,220.8 after a buoyant year's trading.

A series of foreign takeovers of British firms including P&O and BAA pushed its value to a five-year high.

Sterling gained 14% against the US dollar as interest rates rose in the UK and the US economy slowed

Please visit the link provided for the complete story.

Its going to be a good 2007 for the stock market i believe. Hopefully, like many, i do feel that the FTSE 100 will break the 7,000 mark (Don't forget the FTSE 250 has been making records too).

It's likely we are going to see $2/£1 pretty soon, which can be seen as a good and bad thing. Many businesses have extra cash and seem to be investing in other companies, which results in the stock prices being pushed up.


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