Monday 16 December 2013

FTSE bounces back from two-month low, technicals support

The top share index bounced back from two-month lows on Monday, led by power provider Aggreko after it gave encouraging profit guidance, and as the market found some technical support after recent sell-offs.

A survey showing euro zone businesses ended the year on a high as new orders surged also helped the blue-chip FTSE 100 to extend gains. The index was up 32.94 points, or 0.5 percent, at 6,472.90 points by 1131 GMT, after having fallen as far as 6,422.23, its lowest since early October.
The FTSE 100 index recouped some losses after falling in the past four sessions and ending last week in negative territory, its sixth consecutive week of losses and the biggest weekly decline since late June. However, it is still up nearly 10 percent so far this year.
Source: Reuters

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