As we head into 2015, however, many analysts have found new optimism. While there are still some threats to prosperity - such as the general election, which is set to take place in May, there are plenty of things to be cheerful about.
Falling oil prices are weighing heavily on oil companies, but the bigger picture is a positive one. Eventually, those falling oil prices will filter down to consumers, and that will help to improve consumer confidence, and mean that those consumers spend more money, which will bolster the balance sheets of many businesses, both in the UK and abroad. There is hope that the global economy will recover in 2015, and this will only help the FTSE.
Around 85% of the earnings of the FTSE 100 comes from overseas businesses. While some of those businesses depend on the health of the Chinese economy, which appears to be going into a period of slower growth, others depend on America or Europe, areas which appear to be stabilizing after a difficult year. The 7,000 target is actually two percent lower than the forecast for 2014, so while the index is playing catch-up after a volatile twelve months, the target is not an insurmountable one.