Image source: International Airline Group
The FTSE 100 is ending 2023 on an upbeat note after a positive November and December, but this will hardly go down as a vintage year. The blue-chip index is up 2.37% overall, ending the year trading at 7,733.24.
That’s a disappointment after a bright start, which saw the FTSE 100 breakthrough the 8,000 barrier for the first time, hitting 8,012.53 on 16 February. Sadly, that was as good as it got. By 7 July, the index slumped to a year-low of 7,256.94.
While the FTSE 100 moved mostly sideways, investors spent most of the year cheering on the ‘Magnificent Seven’ US mega-cap tech stocks. They drove the S&P 500 to a bumper 24.73% gain. However, it’s worth remembering that Wall Street crashed almost 20% in 2022, when London blue-chips didn’t.
Good but not great
The FTSE 100 is tech-stock-poor, with exceptions like software maker Sage Group and analytics specialist RELX. Instead, the…
