4th January 2012
The UK's blue chip index has had a positive start to trading in 2012, with the FTSE 100 registering a 1.6 per cent rise so far today (January 3rd).
Mining stocks led the surge in growth this afternoon, with the FTSE 100 standing at 5,659.78 as of 15:03 GMT. In addition, the mood among investors was further improved following the announcement of positive manufacturing data from both India and China.
However, David Morrison, strategist at GFT, told the Financial Times: "It looks unlikely that the large weighting of multinational corporations in the FTSE 100 will help the index to any great extent, given expectations of a general global slowdown."
Chris Purdy, a trader at Spreadex, also told the publication the gains made today are unlikely to be sustained over the long term.
It follows a surge late last month for the index, when better-than-expected gross domestic product data for the UK helped push up the market by 0.6 per cent.
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