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FTSE 100 finishes week on a positive note

Prior to today's news of exceptional growth in US GDP in the third quarter it had been a very difficult week for the UK stock market with the FTSE 100 under pressure. However, today's news that US GDP in the third quarter increased by 5.7% over the same period in 2008 prompted a reverse in fortunes for the UK stock market. The FTSE 100 ended over 40 points higher and other prominent benchmark indices followed suit.

It will be interesting to see if stock markets around the world follow through next week with regards to this renewed optimism about the worldwide economy and the US economy in particular. For some reason the UK economy seems to be very much at odds with the US, something which is probably going to impact upon UK investor confidence in the short term.

Despite a relatively upbeat start to 2010 it has been a difficult few days for the UK stock market amid concerns that the economy is running out of steam and we could in fact return to a double dip recession. While a double dip recession is realistically an outside bet we do need to see some improvement in the UK budget deficit and the sterling exchange rate.

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