FTSe 100 is the best performing index globally thus far in 2022: and even given the negative start to 2022, it isn't even the least ugly by a long stretch

Here's a plot of indices in 2022 YTD - UK, Europe and Asia

FTSE 100's moderate decline of just 0.% (yesterday's close) puts it streets ahead of its US cousins and  underscores the predominant market narrative: growth is out and inflation is in. Commodities and rates.

Looking inside the FTSE 100 the reasons for the outperformance are pretty clear:  42% of the index is made up of just 17 names by market cap and these are concentrated in OIl, Mining, Banking and Pharmaceuticals