13th January 2012
The FTSE 100 has moved above 5,700 points in trading today (January 13th) although the index is finding it difficult to maintain this level at present.
Following a 0.7 per cent surge in early trading on Friday the index reached 5,709.22, but has since fallen back to 5,676.0, the Financial Times reports.
It is just the fourth time the FTSE 100 has breached this mark since its last close above 5,700 back in October last year, but until a comprehensive package to tackle the eurozone debt crisis is announced these dips and rallies are likely to continue.
"Despite the impressive turnaround, volume is still a major concern," James Hyerczyk, analyst at Autochartist, told the news provider. "Trader indecision may still be preventing a full-blown breakout."
Earlier this week, Reuters reported weak retail data from supermarket group Tesco of a 14 per cent fall in sales had little effect on the blue chip index, although analysts have warned any further poor data could serve to reduce investor confidence.
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