U.S. markets closed
  • S&P 500

    4,076.57
    -3.54 (-0.09%)
     
  • Dow 30

    34,395.01
    -194.76 (-0.56%)
     
  • Nasdaq

    11,482.45
    +14.45 (+0.13%)
     
  • Russell 2000

    1,881.68
    -4.90 (-0.26%)
     
  • Crude Oil

    81.41
    +0.86 (+1.07%)
     
  • Gold

    1,817.40
    +57.50 (+3.27%)
     
  • Silver

    22.75
    +1.20 (+5.57%)
     
  • EUR/USD

    1.0527
    +0.0119 (+1.15%)
     
  • 10-Yr Bond

    3.5290
    -0.1740 (-4.70%)
     
  • GBP/USD

    1.2257
    +0.0195 (+1.62%)
     
  • USD/JPY

    135.3130
    -2.7670 (-2.00%)
     
  • BTC-USD

    16,951.05
    -148.28 (-0.87%)
     
  • CMC Crypto 200

    401.44
    -4.71 (-1.16%)
     
  • FTSE 100

    7,558.49
    -14.56 (-0.19%)
     
  • Nikkei 225

    28,226.08
    +257.09 (+0.92%)
     

There’s a good bet to be made in this ‘uninvestable’ country, says UBS

There’s a good bet to be made in this ‘uninvestable’ country, says UBS

“The FTSE 100 is not the U.K. economy,” he stresses in a note published this week. The blue-chip index’s top five constituents — Shell (SHEL) (UK:SHEL) AstraZeneca (AZN) (UK:AZN) HSBC (HSBC) (UK:HSBA) Unilever (UL) (UK:ULVR) and Diageo (DEO) (UK:DGE) which together make up about a third of its market capitalization — exemplify the Footsie’s international nature. The weak pound (GBPUSD) is thus a boon, providing a material boost to corporate earnings as overseas profits are converted back into sterling, and improve the competitiveness of exporters, supporting equities, according to Gilman.