Image source: Getty Images
Well, that is another record broken. As has already happened multiple times so far this year, the FTSE 100 index of leading British shares hit a new all-time high (during the trading session, not at its close) over the past week.
Could that signal that things are getting expensive – or might there still be value in the FTSE 100?
Not looking wildly expensive
The price-to-earnings (P/E) ratio of the index overall is around 16.
To me, that does not scream of an obvious bargain. By the same measure, though, the index does not necessary look that expensive.
Yes, the P/E ratio is above where it has spent recent years. But in absolute terms, 16 feels justifiable to me for a collection of the nation’s largest businesses.
Things could get better
I also see some possible drivers that could potentially help push the FTSE 100 even higher from here.
There has been considerable…
