Carney Is Right, U.K. Domestic Stocks Have Underperformed: Chart

Bank of England Governor Mark Carney highlighted in parliament testimony that U.K.-focused equities have trailed those that are more international. The FTSE 250 Index, which tracks mid caps that tend to be more affected by the domestic economy, has lost 2.3 percent this year, while the FTSE 100 Index following heavyweights such as HSBC Holdings Plc has dropped less than 1 percent, helped by a weakening of the pound. Both measures, however, have fared much better than the regional Stoxx Europe 600 Index, down 6.8 percent in 2016.

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