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>

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  • 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.

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