FTSE 100: record-breaking? Hardly

The FTSE 100 would have to hit 10,000 to reach any meaningful new high, says Merryn Somerset Webb. Clearly, that's some way off.

Newspapers usually don't bother putting news about the stockmarket on their front pages unless something really exciting happens. This week, it seems something really exciting did happen. "Shares rocket to record highs," said the Daily Express.

"FTSE 100 hits all-time high," said The Daily Telegraph and Daily Mail. "Like it's 1999: soaring FTSE at highest level for 16 years," said The Independent. Even the usually sensible Times wasn't immune to the overexcitement: its headline on the matter was "investors' delight as shares smash record".

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Merryn Somerset Webb

Merryn Somerset Webb started her career in Tokyo at public broadcaster NHK before becoming a Japanese equity broker at what was then Warburgs. She went on to work at SBC and UBS without moving from her desk in Kamiyacho (it was the age of mergers).

After five years in Japan she returned to work in the UK at Paribas. This soon became BNP Paribas. Again, no desk move was required. On leaving the City, Merryn helped The Week magazine with its City pages before becoming the launch editor of MoneyWeek in 2000 and taking on columns first in the Sunday Times and then in 2009 in the Financial Times

Twenty years on, MoneyWeek is the best-selling financial magazine in the UK. Merryn was its Editor in Chief until 2022. She is now a senior columnist at Bloomberg and host of the Merryn Talks Money podcast -  but still writes for Moneyweek monthly. 

Merryn is also is a non executive director of two investment trusts – BlackRock Throgmorton, and the Murray Income Investment Trust.