FTSE 100 trading 13 per cent higher than previous year
The FTSE 100 increased to the level of 6678.61 on 23 December, 2013 indicating strong investor estimates in the market.
The index surpassed the mark of 6650 and is trading around 13 per cent higher than its level in January. The index is heading towards achieving its best annual performance since the year 2009, which the index had risen 22 per cent during that year. The index has been performing well due to strong global recovery.
The International Monetary Fund has said that the outlook for the economy looks positive, which boosted investor confidence in December. Analysts had expected that the US Federal Reserve's decision to start rolling back its stimulus package would affect investor confidence in the market.
The FTSE 100 added Royal Mail, who floated at 330p, and Ashtead, who entered the index at 773p. The royal mail shares entered the index after it rose to 590p per share while Ashtead recorded a fall in its share value to 9p. The FTSE 100 might remain below the 7,000 mark during this year but the index is expected to rise in the coming year.