FTSE 100 Making a Recovery

As Interest rate increases appear to be off the agenda, there is growing speculation that there could be another round of quantitative easing in the making. Stock markets are creeping up, and on Friday the FTSE 100 made a significant gain. It has now risen a total of ten percent since its two and a half year low point, which it hit last week, and there appears to be the potential for even more gains.

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shareprices.com - Monday, October 12, 2015

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The UK’s leading index was looking like a dead fish at the start of the month, but it has creeped back up from 5,877 to 6,452, which is more like the mid-august figures, and according to some analysts it could be laying the groundwork for another high point.

Technical analysts considered 6,417 to be the next major resistance point, and note that if the index could break above that then it would be in a good position to surge back to 6,750 or even 6,813. Fundamentals are favourable for that too, with world events supporting a fresh rally. The mining sector has been staging an impressive recovery, and shares in Glencore have more than doubled in value, with other rivals also creeping up. Demand for equities is strong, and the latest economic data is promising. However, economic data is continuing to be disappointing, and we will need to see signs of strength in China, or positive data on a local scale, to support continued share buying over the next few weeks.

 

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