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Accumulator: FTSE takes crown ahead of royal wedding

The FTSE 100's record closing high yesterday means the index can be crowned top global performer this week.

 
Accumulator: FTSE takes crown ahead of royal wedding
 

As the nation's attention turns to this weekend's royal wedding, investors in the UK stock market can look back on another strong week where the FTSE 100 has once again taken the crown for top global performer.

The UK blue-chip index yesterday notched up a record closing high, and although it hasn't followed that with another, today's small dip is not enough to take the shine off.

In a mixed week for global stock markets in pound terms, the FTSE 100 stands out for its 1.2% return over the five days to yesterday, as our exclusive Accumulator data table shows.

It's not the first time this year the best returns have been found at home. Over the course of 2018, only Hong Kong beats the FTSE 100 for sterling returns.

The resources-heavy index has been bolstered by the surge in the oil price, up 2.9% in pound terms, with Brent crude changing hands at over $80 a barrel yesterday, although back under that milestone today.

And while the dollar's rally may have helped the FTSE 100 along in clawing its way back to January's high, this week it has been the pound leading the way.

But the pound's strength, normally a hindrance for the FTSE 100's stocks, which rely on overseas markets for around three-quarters of its earnings, was not enough to hold back the resources-heavy index from oil-driven gains.

The relative weakness of other currencies has eaten into the returns for UK investors from overseas markets. None more so than in emerging markets, where the dollar's strength - up 6% against the pound over the rolling month - has taken its toll.

Brazil stands out  as the worst performer on the table, with its stock market down 6% in pound terms.

Not featured in the table is Argentina, where a stock market rally that has taken hold as investors signalled their approval of the government calling in the International Monetary Fund. Even with the peso's plummet, UK investors in the country are still up on the week. 

You can access The Accumulator data table here.

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