FTSE Trails Other Markets in 2023 as UK Worries Weigh on Investors
• FTSE 100 index gained just 3.8% in 2023, far behind other major markets like S&P 500 (25% gain) and Nasdaq (45% gain)
• UK economy and politics remained concerns for investors, limiting appetite for UK stocks
• Top FTSE risers were Rolls-Royce (+220%) and Marks & Spencer (+120%) on turnaround progress
• Anglo American fell 39% on production problems raising takeover speculation
• Pound rose 5% vs US dollar, which dropped 2% against basket of currencies on expected Fed rate cuts