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FTSE 100 rises in afternoon trading

31st January 2012

The UK's blue chip index has risen in afternoon trading today (January 31st) as the forecasted numbers for 2012 risk have come out lower than many analysts had expected.

So far in today's trading session, the FTSE 100 has gained 53.77 points (one per cent) to stand at 5,724.89, Reuters reports.

January has been the second best month for the index out of the last 12, registering a rise of 2.8 per cent overall.

"The income you are getting on equities versus other asset classes - with gilts yielding two per cent and cash yielding nothing - is one of the reasons we are seeing this buy on dips mentality," Ian Williams, a strategist at Peel Hunt, told Reuters.

Earlier this week, the Financial Times reported the FTSE 100 was down on the back of poor performance by some of the UK's largest banks, including Lloyds Banking Group, Barclays and HSBC.

Their shares suffered as ongoing fears over the eurozone led to many investors losing confidence in these companies and their ability to weather the financial storm.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.