FTSE 100 Rises 0.5% Despite UK Insolvencies Jump 8% in May
Key Points
- FTSE 100 saw a 0.5% gain despite an 8% rise in UK business i...
When your stock market goes up while companies are dropping like flies, you know you're living in interesting times. The FTSE 100 managed a respectable 0.5% gain on Friday, apparently choosing to ignore the inconvenient fact that UK business insolvencies jumped 8% month-on-month. It's like celebrating a great party while the building's fire alarm is going off.
The numbers tell a tale that would make even the most optimistic trader reach for a stress ball. Public sector borrowing hit £17.7 billion in May, and companies are buckling under the weight of higher employer national insurance contrib...
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