Business World

Friday 17 November 2017

FTSE has best month in two years

In Dublin the ISEQ overall index had the best month since July
In Dublin the ISEQ overall index had the best month since July

Kit Rees

The FTSE 100 posted its biggest ­monthly gain in two years in October, despite shares being depressed by disappointing company results on Friday.

In Dublin the ISEQ overall index had the best month since July.

"I'm still of the theory that this is a bear market rally," said CMC Markets market analyst Jasper Lawler about the London increase. "I think no one can confidently say that we are going to be breaking out higher into the next leg of the bull market right now - and with the uncertainty, and the fact that we've already had a good, strong move higher, leads me to think that maybe we could be about to turn down."

Shares in airline IAG fell 2.5pc, to be the top decliner in the FTSE 100, after its profit guidance disappointed ­investors. Oil companies fell after the price of oil slipped following disappointing US ­economic growth figures.

RBS shares lost 1pc after the bank ­posted a third-quarter loss and warned that future costs relating to litigation and past misconduct may be substantially higher than expected.

©Reuters

Reuters

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