British blue chips are on the rise, but recession could torpedo prospects

A BAE Systems stand at the DSEI arms fair in London: the weapons manufacturer’s shares are up 50% this year. Photograph: Leon Neal/Getty Images

Britain’s stock market has its critics, who have derided it over the years as a fuddy-duddy collection of “19th-century companies”, and even called it a Jurassic Park index for its lack of cutting-edge members.

But every dinosaur has its day and, rather like the Jurassic Park franchise, the FTSE 100 blue chip share index has enjoyed something of a resurgence in 2022.