Strategists turn bullish on FTSE 100 companies
These large-cap multinationals can boost their sales in overseas markets because of the weaker pound
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London
FOLLOWING Britain's unexpected vote to leave the European Union, strategists did something that might seem strange: they turned more bullish on a big swathe of the country's shares.
The FTSE 100 Index, which tracks the largest companies trading in London, has been relatively resilient since the referendum, falling less than half as much as the broader FTSE 250 Index and a gauge of eurozone shares. It's highlighting the disparity between the rest of the UK stock market and London's large-cap multinationals, a group that benefits from its commodity holdings and business in emerging markets.
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