The market was well into interim reporting season last week with 37 companies announcing interim or full-year results. Although closing above that all-important psychological level of 5000 on Friday, it was only up 1.3% over the previous Friday’s closed.
For the doomsayers that contest the current rally is not sustained by earnings, the reaction of the market to many of last week’s results might come as a surprise. A good result didn’t necessarily mean an increase in share price and vice versa. See the table of the largest 25 that reported last week below.