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FTSE 100 index hits a 12 month high

While the last few days have seen a number of doom and gloom scenarios regarding the UK economy it seems as though investors in the UK stock market are looking further into the future. The stock market has now risen just over 5% this week and now stands higher than the level it started the year. This is a significant turnaround from a low of 3512 to today's level of 4437 with momentum gathering pace. But is the UK economy really out of the woods?

As we have suggested on some of our earlier posts, the UK stock market is widely regarded as looking at least "nine months ahead" rather than valuing shares on the immediate future. This is where the ongoing recovery in UK share prices may look out of sync with the raft of depressing and doomsday scenario headlines we have seen over the last few days. However, the stock market does not always predict the future direction of the economy with 100% accuracy and while there is some momentum behind the move this could soon disappear if things turn sour.

It will be interesting to see how investors react to this week's flurry of depressing new stories and what impact these have on the future direction of the UK stock market.

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