FTSE closes above the 6000 level

<p>With the US closed yesterday due to Independence Day, a quiet trading day saw the FTSE gain a further 27 points to 6017, closing above […]</p>

The video cannot be shown at the moment. Please try again later.

  • With the US closed yesterday due to Independence Day, a quiet trading day saw the FTSE gain a further 27 points to 6017, closing above the 6000 level for the first time in over six weeks.
  • Despite the S&P warning that the Greek debt deal would still amount to a default, the FTSE is in positive territory, up eight points at 6025.
  • Leading the FTSE higher today is Reckitt Benckiser, up 1.8% with continued bid rumours from Proctor and Gamble.
  • Schroder’s is up 1.75% despite a price cut from UBS.
  • On the downside this morning, we have Intertek, the biggest faller, down 1.6%.
  • Miners are also struggling, with Rio Tinto, Kazakhmys and Xstrata all down between 1.2% and 0.5%.
  • On the macroeconomic front, we had UK services PMI at 9.30am (UK time), which came in as expected, while at 10am we have Euro Retail Sales data.#
  • At 3pm (UK time) keep an eye out for the release of Factory Orders data in the US.

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.