Wednesday, July 2, 2008

Fears for pension schemes as £30billion is wiped off FTSE after shares plummet

Fears for pension schemes as £30billion is wiped off FTSE after shares plummet

Investors were reeling yesterday after share prices plunged on stock markets around the world. The FTSE index of Britain's 100 biggest companies fell 146 points - 2.6 per cent - to close at 5,479 points. It wiped more than £30billion off the index.

Posted by housebear @ 10:35 AM (538 views)
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2 thoughts on “Fears for pension schemes as £30billion is wiped off FTSE after shares plummet

  • Already recovered 69 pts as of 11:30 am. But look at the overall annual/monthly trend.

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  • Longtermview says:

    Fears for pension schemes?

    Why, pray?

    Most of the money in pension schemes won’t be needed for decades. Plenty of time for the market to recover to it’s usual long-term growth rate.

    For the best part of two centuries the stock market has returned about 12% before inflation and 7% after, the best return of almost any asset class.

    Take no notice of the short term view.

    In any case, lower prices mean cheaper shares = buying opportunity.

    But what do you expect from the Daily Mail?

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