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Article: FTSE 250 powers through 7,000 to a record high NEWS ANALYSIS: Mid-caps are back in favour thanks to the weak pound and a strong recovery in the software sector
- Article from:
- The Independent (London, England)
- Article date:
- September 1, 2000
- Author:
CopyrightCopyright 2000 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
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THE FTSE 250 index notched up a further record yesterday, when it
reached a fresh peak for the year and broke through the 7,000 barrier
for the first time in its history.
Its 58.5 point rise to 7,057.8 means that the mid-cap index has
risen by 9.5 per cent since the start of the year. This compares with
a 4 per cent fall in the "blue chip" FTSE 100 index of leading
stocks. The FTSE Small Cap index of smaller quoted companies is also
close to a peak, with a 15 per cent rise during the year.
What has driven the surge? The reasons for the strength of the mid-
caps fall chiefly into two categories - fluctuating sector
performances and macro economic factors such as the continued
weakness of ...