8th November 2011
The FT-SE 100 index – the Footsie – is Britain's most quoted financial barometer. It's a measure of the 100 largest shares quoted on the London Stock Exchange. When it goes up, we cheer – and when it falls, we cry.
But as a measure of UK PLC, as an indicator of the health of the UK economy's private sector, it's increasingly pointless. It's filled with companies whose main (or only) relationship with UK industry is a London stock market listing.