FTSE: only here for the Index derivatives

Neil Collins And still they come, defying high taxation, political uncertainty and a declining currency. Essar Group, an Indian conglomerate, may join March’s new arrival, African Barrick Gold, in the FTSE 100, the index which is still seen by non-professional investors as a benchmark for investing in the UK. It is nothing of the kind, and hasn’t been for years now. Half the dividends of its constituents are paid in dollars, and it is dominated by oil and mining stocks, some with only the most...