There are three ways to view the FTSE 100 index hitting 10,000 points for the first time. One is to say round numbers are irrelevant. Since share prices are meant to go up over the long term, an index that was created in 1984 at a starting value of 1,000 was bound to get there eventually.
In any case, a pure value-weighted points measure doesn’t capture the dividends paid by component companies, which can add up to a material part of an investor’s return over time if reinvested. Nor is the Footsie guaranteed to stay above 10,000, obviously. Such “bah humbug” points are all reasonable.
