Sanderson Design has warned that its profits will slump by more than half this year after hopes of a pick-up in trading were dashed by a “challenging consumer and industry environment.” The luxury furnishing supplier said underlying pre-tax profits for the 12 months to end January will be in the region of £4 million to £4.

The blue-chip index has a high proportion of internationally-exposed companies that benefit from a weaker pound, plus a large number of defensive stocks that investors tend to favour during times of market tumult.

Jon Smith considers both sides of the argument as to whether it really makes sense to buy FTSE 100 shares give the current index price.

European markets ticked cautiously higher as the world looks to the inauguration of Donald Trump later on today.

London’s FTSE 100 hit a record high Friday, as international exposure in the equity index shielded it from much of the turmoil that has weakened the pound, gilts and domestic stocks.