The UK FTSE may have endured bad announcement after another through 2022 but its stock market has outperformed and after Friday’s aggressive resources-led recovery it’s now only 4.6% below its pre-Covid high, a pretty amazing performance compared to its peers. The great news locally is the ASX and FTSE and highly correlated hence one of the reasons for our bullish caveat is that we can see surprises on the upside.
- The FTSE has caught our attention a few times of late as it ignored a plethora of bad news but now as resources rally the picture has become rosier and stocks have taken off.
MM remains bullish on the UK FTSE
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