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GBP160 billion wiped off UK stock market in ‘frightful fortnight’

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The FTSE 100 looks like it’s going to fall for the 9th consecutive day, barring a Lazurus-like recovery in the closing minutes of trading today (Friday).

The FTSE All share has fallen by 7 per cent since last Monday (10 August), which equates to around GBP160 billion wiped off the value of UK-listed companies.
 
Laith Khalaf (pictured), Senior Analyst, Hargreaves Lansdown, says: ‘It’s been a frightful fortnight for the Footsie, which has seen its losing streak stretch to nine consecutive days. Pension funds and private investors alike will be licking their wounds, and wondering when the sell-off is going to come to an end.
 
“China is front and centre of the turmoil, and companies with significant Asian revenues like Unilever and Standard Chartered have suffered alongside the obvious commodity casualties in the mining sector.
 
“The sell-off may yet have further to run, particularly seeing as such a large part of the UK stock market is in thrall to capricious commodity prices. This is undoubtedly an uncomfortable period for investors, but it’s at times like these that it pays to keep your head.
 
“Stock market corrections, like the one we are witnessing, present investors with an opportunity to put new money to work in the market at lower prices. No-one knows when this bout of angst will end, and stock prices may yet have further to fall. But when the market as a whole is fearful, it’s usually a good time to top up your holdings.”

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