, Columnist
FTSE’s 40th Is a Very British Disappointment
Underperformance by the once-revolutionary index reflects the UK’s lack of a leading tech sector and the abandonment of equities by pension funds.
The promise of 1984 has turned into a chronic lag since the Great Financial Crisis.
Photographer: Jose Sarmento Matos/BloombergThis article is for subscribers only.
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London has an anniversary to celebrate. Jan. 3, 1984, saw the launch of the FTSE 100, and with it a big step forward in the way markets are traded and investments made. It has been the most closely followed index of the corporate UK ever since. Its arrival was one of many innovations that transformed the City of London in the 1980s.