FTSE winners and losers in a turbulent 2022 | Business

Can there have been in recent times a more eventful year to drive investors’ fears and hopes? We’ve had the return of inflation, an end to years of record low interest rates, three prime ministers, strikes, war in Europe and the bursting of the technology bubble. You might also add the long shadow of Brexit and Covid-19. It’s a fair bet that predictions made in January have been upended.

Yet the FTSE 100 has been resilient, rising by 0.9 per cent over the year. It was bolstered by what often are dismissed as “old economy” stocks and by companies whose overseas earnings benefited from a strong dollar.

The more UK-focused FTSE 250, however, struggled as fears of recession mounted and it ended 2022 down by