FTSE 100 well up so far today - NOT amateur radio

So far, the UK FTSE 100 share index is up over 2.5% on the day. Yesterday it fell well below 6000, but not quite to the lowest point this year. So far this year it is down over 10%. At its highest it topped 7100.

FTSE up over 2% today - NOT amateur radio

Despite the bad times in China that are rocking markets around the world, the UK FTSE 100 share index is currently up 2.11%. It seems like it wants to recover lost ground but is being held back.

My own view is that what is happening in China is deadly serious and we are heading for another huge crash that, especially for the average Chinese, will make the Wall Street Crash of 1929 seem tame. This could result in revolution in China and real turmoil over there. We will not come out of this unscathed. The world is just shutting its eyes and pretending it is "business as usual". It is not!  The age of low cost imports from China is gradually ending and the world has to adjust. No doubt sweat shops in other poorer countries will replace China, but personally I hope it means more real manufacturing in the EU and USA. At the moment almost everything you buy is "made in China".

FTSE 100 - NOT amateur radio

OK, it is early morning still, but the FTSE 100 share index here in the UK is staging a bit of a recovery, presumably based on better short-term news out of China.

UPDATE 1345z:  The FTSE 100 share index is up 2.93% still. Encouraging in the short-term. Things could rapidly change though.

UPDATE 2004z:  The FTSE 100 ended the day well up climbing 3.56% on the day.  People seem to think the crisis in China is over. Think again.  As they say, "we ain't seen anything yet". Batten down the hatches we are all in for a very rough ride. This will make 1929 look like a walk in the park.

UK FTSE 100 share index - NOT amateur radio

It is too early in the day to be sure, but at the moment the UK's FTSE 100 index is well up on the dramatic falls seen yesterday.

China is still spooking the stock markets around the world. Investors are worried by the slower growth in China and are wondering if its engine is losing steam and the impact this will have on the world. Lots of us are dependent on China as big pension funds may have invested heavily in China.

At one time we were all worried by Japan. Then the Japanese ran out of steam and everyone saw China as the new engine of growth (and low costs) in the Far East.

For too long we have lived off low cost imports from China. Perhaps that era is drawing to a close? Not quite yet, but at least the prospect is now real. Maybe we'll see European manufacturing again in ascendance? The sooner we all live within our means the better. The last few years were a blip.

UPDATE 1712z:   In the end the FTSE 100 index ended up over 3% higher. This crisis is far from over.  The Chinese government has reduced interest rates. This will encourage companies and individuals to become even more indebted. When the crash finally comes, and it will,  these investors will lose big time. This will make the Wall Street Crash of 1929 look tame. No, we should be seriously concerned by developments in China. We in the west will be affected.

FTSE 100 - NOT amateur radio

At the moment, the FTSE 100 UK share index is down 0.89% so far today and well down on its peak of over 7100 earlier in the year. The stock market is spooked by Greece, China and the concerns over rising interest rates. I can see this uncertainty being around for some time to come.

UPDATE 2048z:  In the end, the FTSE 100 ended the day well down by 1.88%. Somehow I think we have worse to come.