Home Business NewsBusiness Despite strikes and Cabinet sackings FTSE All-Share warms to Rishi Sunak

Despite strikes and Cabinet sackings FTSE All-Share warms to Rishi Sunak

by LLB Editor
6th Feb 23 8:26 am

FTSE All-Share is up by 11.5% in Sunak’s first 100 days in office.

Only Tories’ Edward Heath in 1970 has had a warmer welcome.

Hopes for peak in inflation and interest rates help – as does lowly starting point.

“Strikes, allegations of bullying by some Cabinet colleagues and tax avoidance by others may have been some of the dominant themes of Rishi Sunak’s premiership but despite that tempestuous backdrop the FTSE All-Share has had its second-best spell ever during the first one hundred days of a new PM’s stint in office,” says AJ Bell investment director Russ Mould. “Since Mr Sunak took the keys of 10 Downing Street, the FTSE All-Share is up by 11.5%. The only time the FTSE All-Share gave a new Prime Minister a warmer welcome was 1970 when a 15.4% advance in the index greeted the Conservatives’ Edward Heath’s surprise defeat of Harold Wilson and – ironically – the mandate he received to begin negotiations to enter the Common Market, as the EU was then known.

Prime Minister Party Entry to office FTSE All Share in first 100 days
Edward Heath Conservative 18-Jun-1970 15.4%
Rishi Sunak Conservative 25-Oct-2022 11.5%
Tony Blair Labour 01-May-1997 10.1%
David Cameron Conservative 07-May-2010 2.9%
Gordon Brown Labour 27-Jun-2007 0.7%
John Major Conservative 09-Apr-1992 0.4%
Theresa May Conservative 07-Jun-2017 (3.0%)
James Callaghan Labour 05-Apr-1976 (3.2%)
Harold Wilson Labour 15-Oct-1964 (9.9%)
Margaret Thatcher Conservative 03-May-1979 (11.5%)
Harold Wilson Conservative 28-Feb-1974 (19.7%)
Boris Johnson Conservative 11-Dec-2019 (29.1%)
Liz Truss Conservative 06-Sep-2022 n/a


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