You wouldn’t know it, amid an ever-bleak domestic economic outlook, and the din surrounding London’s apparently faltering appeal as a listing venue. But if you look hard – and maybe put your fingers in your ears and hum – you will see that the FTSE 100 continues to hold up well.
For once, this isn’t down to a slump in the pound, as is often the case with an index whose collective earnings are more global than domestic. On a one-year basis, sterling is up both against the dollar and the euro.
And while the S&P 500’s recent rally has again been powered by a clutch of familiar tech giants, the resilience of UK-listed blue-chip stocks appears more broad-based.