Global influence on UK stock market

At first sight, it is disappointing that the performance of the UK stock market this year has not mirrored the resilience of the British economy. This is scant reward for Britain's leading position in the growth league among G7 members. The FTSE All-Share Index has closely tracked the S&P Composite so far this year (both have fallen 18%), although it has fared much better than other European equity indices. Much of this can be attributed to the increasing globalisation of major stock markets. Around half the profits of FTSE 100 Index constituents are derived from overseas, while foreig...