There was a lot of talk during the Olympics about how the Chinese consider the number 8 to be lucky as the word for “8” sounds very similar to wealth. Well following on from my post on Tuesday about financial media language I couldn’t go home without a quick word on today’s events on the stock market. Shares have surged today with the FTSE-100 closing 8.8% up, it’s single biggest gain in a day and for once, unlike my earlier comments, any hyperbole will get no argument from me. In fact surged seems a little conservative, rocketed wouldn’t be overdoing it.
Will this “double 8″ change prove to be lucky? We can only wait and see, but I suspect we may not find out the answer to that question for quite a while yet. In the meantime we may all need to keep a thesaurus close at hand