Forex is a great market for trading, but it is very volatile and requires constant attention if you want to achieve success. However, indices like the UK100 are a different deal – they grow quite steadily and are recalculated only once a quarter! Yet, if you want to trade indices on JustForex, you need to keep in mind that they are not as simple as they seem:
UK100 is better known as FTSE100 or footsy. The abbreviation stands for Financial Times Stock Exchange (Index) 100 – the index is compiled by this publication and specializes in the largest enterprises of the London Stock Exchange.
In total, the index includes 100 companies with the largest capitalization. It is led by the Royal Dutch Shell and the financial company HSBC Holdings PLC. Also on the list are Admiral Markets Insurance Company, AstraZeneca PLC medical concern, and the telecommunications giant Vodafone Group.
It’s interesting: Technically, in the UK100 index, the positions are not 100, but 101. The fact is that Royal Dutch Shell trades two types of shares on London Stock Exchange at once and according to the rules of FTSE100, the price of both financial instruments is taken into account.
On average, the index is held at 7,300, and the maximum price of 7,900 was reached in March 2019.
The index is reevaluated every quarter, cleaning out companies that have fallen in value and gaining new ones. However, lately, it is quite stable.
The FTSE100 is heavily influenced by British domestic economic events, as well as global events. For example, in the first year after the announcement of Brexit, the index sank significantly – but now it is practically independent of news about Britain’s exit from the EU.
All other events that may affect the UK100 are so global that you will hear about them anyway.
UK100 is available on JustForex 5 days a week – Monday through Friday. On weekends, the stock market is closed and you cannot open new orders on it. In addition, the index is not available during world holidays, when the stock market does not work.
JustForex regularly publishes news on changes in trading hours. Read them on our main page!