Footsie mystifies nearly half of people in UK

Nearly half of people in the UK have no idea what the FTSE 100 Index is, according to research out today.

And almost a tenth have never heard of the index of top companies, the study by Tesco Savings revealed.

Of those who had heard of the Footsie, less than half believed ordinary people could invest in it, with many believing it was only open to bankers and stockbrokers.

The study showed that 23 million people in the UK – 49% of those surveyed - did not know what the index was.

Women were less up to speed on the subject, with 59% unaware that the Footsie tracks the performance of the 100 largest publicly owned companies, compared with 41% of men.

Among the different age groups, those under 25 were the least knowledgeable, followed by 55 to 64-year-olds.

James Yerkess of Tesco Savings said: “The stock market isn’t just for pinstriped City types, but it’s hardly surprising that only one in five Brits currently invest, when half of us don’t even know what the Footsie is.”

Those questioned for the survey were given a list of nine companies, including five which featured in the FTSE 100 Index. Only four per cent of respondents correctly identified the five Footsie firms.

Research agency Consumer Intelligence questioned a representative sample of 2,997 UK adults on behalf of Tesco during June.

The study coincides with the launch this week of two Tesco savings bonds linked to the performance of the Footsie.