The FTSE 100 edged lower in early trading today (February 18th) as the benchmark struggled to advance through the latest five-year highs.
According to the latest data, the FTSE 100 was down by 0.2 per cent or 13.90 points at 6,316 at 08:52 GMT as investors displayed a hint of short-term caution after a period of bullishness, reports Reuters.
The results are likely to be indicative of a modest trading session today that shows little macro economic and corporate data, with the US equity market is closed for President's Day.
Nomura warned in a note that sentiment towards markets had become extended in the last week with a systematic mutual flow indicator reaching levels that had not been seen since May 2006.
"We would regard such extreme bullish levels of sentiment to act as a contrarian signal of equity market weakness over a short-term horizon," the organisation wrote.
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