Jubilee postpones launches as it forecasts fall in FTSE

Jubilee Financial Products is delaying the strike date on its suite of four structured products until 25 September in anticipation of a market correction.

The products, which are designed to take advantage of rises in the FTSE 100, were due to strike on 7 August. However, the group believes the current rally will falter at the end of the summer. “The rally is not supported by recent economic data,” says senior partner Ian Millward. “Trading volume is effectively over 40% down on the same time as last year, so this rally does not appear to be driven by any great conviction or weight of money.” Millward says by delaying the investments until September investors should benefit from a lower entry point. “Trying to call the market i...