Is this the Start of a Stock Market Freeze?

THE WEEK: The FTSE 100, having rallied brilliantly since mid-October, now looks set to return to the 6,200 points level, says Rodney Hobson

Rodney Hobson 12 December, 2014 | 10:34AM
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The icy blast forecast in weather reports was, for most of the UK, less than feared this week - but the stock market has not fared as well. Each feeble rally in the FTSE 100 index has ended in tears. The polar bears are again in the ascendancy.

On the stock market, each sale helps to push shares lower, thus producing a self-justifying belief. If, collectively, we believe shares will fall, they will do so. And they have done.

The FTSE 100, having rallied brilliantly since mid-October, now looks set to return to the 6,200 points level we saw then. Such is the perversity of markets that a relatively subdued “Black Friday” in American shops has overshadowed all the good economic figures to come out of the US this year.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Morrison (Wm) Supermarkets PLC183.40 GBX-0.19Rating
Ocado Group PLC1,965.95 GBX0.00Rating
Tesco PLC231.80 GBX-0.19Rating

About Author

Rodney Hobson

Rodney Hobson  is a columnist for Morningstar.co.uk and author of several investing books, including The Dividend Investor and How to Build a Share Portfolio.

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