FTSE boosted by China and US

Mon, 11th Feb 2013

The leading share index in the UK moved higher on Friday, shrugging off earlier losses in the week to end on a high. By the close of the session, the FTSE 100 was higher by 0.57 per cent reaching 6263.

Investors were still keeping a close eye on Mario Draghi, after he announced that the recent strength of the euro could send things crashing once more. However on Friday there was no such thing as a loss of confidence as the market looked towards more positive factors across the global economy.China and US were the two main sources of good news, with better than expected data coming out of both countries. In China, the trade surplus shrunk despite being more than the target. This turn of events was prompted by a rapid swelling in the number of exports sold - 25 per cent jump - whilst simultaneously imports climbed by nearly 29 per cent.In the US the trade deficit was shrinking, dwindling by 20.7 per cent on a month by month basis. Te change was primarily caused by an increase in the amount of gold being help by the country.Closer to home, the construction industry performed wonders by rising by approximately 0.9 per cent compared to the previous quarter. On an individual level Aggreko moved higher, boosted by an upgrade which helped the price to climb. The stock for Imperial Tobacco was heading in the opposite direction, shedding 2 per cent overall.
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