FTSE sees its best year since 2021, climbing almost 6 per cent through 2024
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The FTSE has seen its best year since 2021, climbing almost 6 per cent through 2024. The UK’s blue-chip index was boosted by a buoyant global stock market that meant pension funds invested across the world soared. Japan’s Nikkei and Germany’s Dax market both climbed by 19 per cent while the US Dow Jones index went up by 13 per cent.
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Matt Britzman, senior equity analyst at Hargreaves Lansdown, said: “The FTSE 100 wrapped up 2024 on a high note.”. The index hit an all-time high of 8,474 in May then after a few faltering months it ended the year up 5.8 per cent at 8,173.02. Mr Britzman said: “It was a year of resilience rather than runaway success for the UK’s blue-chip benchmark.”.
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Investors faced a year of twists and turns. Two interest rate cuts offered some relief while a tax-hiking budget from Chancellor Rachel Reeves in the autumn put pressure on many of Britain’s domestic companies. Despite that the FTSE 100 had its best year since 2021, when it climbed 14.3 per cent after the perils of the pandemic. In 2022 it climbed just 0.9 per cent while in 2023 it rose 3.8 per cent.
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Tom Stevenson, investment director at Fidelity International, said: “After the turbulence of 2023, we’ve seen a marked shift towards growth, driven by stabilising inflation and a more positive outlook for interest rates.”. Dan Coatsworth, investment analyst at AJ Bell, said: “While it may lack the glitz and glamour of the US market, it’s still full of interesting companies offering steady earnings growth. The FTSE 100 provides ballast to an ISA or pension.”.
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