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Any other business

Warning: the FTSE100 isn’t out of the woods just yet

Also in Any Other Business: Brexit forecasts, renationalising steel, the future of hotels and Standard Chartered

23 April 2016

9:00 AM

23 April 2016

9:00 AM

When the FTSE100 fell close to 5,500 in February, we all said ‘Mr Bear is back’. On Tuesday the index hit a high for this year of 6,400, and we all wondered whether Mr Bear had done what I said he wouldn’t, and shuffled back to hibernation. But the truth is that shares have lately moved in parallel with the oil price, which has perked up partly for technical reasons including temporary curtailment of supply from Kuwait; and a major element of the FTSE recovery is in commodity stocks that had been wildly oversold.

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