15th February 2012
The UK's blue chip index the FTSE 100 has made a slight gain in trading today (February 15th).
Up by six points from the close of yesterday's session, the index has responded positively to the announcement by Chinese officials that the Asian nation is committed to increasing its backing for European economies, Proactive Investors reports. The index now stands at 5,906.
"Of course, given the importance of Europe to China as one of its biggest trading partners, this affirmation of support is of no real surprise," said chief market strategist at City Index Joshua Raymond.
China could now use its massive reserves of more than $3.2 trillion to help stabilise the eurozone, prompting a widespread improvement in market confidence, both in the UK and elsewhere.
Earlier this week, the FTSE 100 was rocked by the announcement that Moody's has placed the UK's AAA credit rating on negative outlook, resulting in a fall in the market.
Begin trading today! Create an account by completing our form
At One Financial Markets we are committed to safeguarding your privacy.
Please see our Privacy Policy for details about what information is collected from you and why it is collected. We do not sell your information or use it other than as described in the Policy.
Please note that it is in our legitimate business interest to send you certain marketing emails from time to time. However, if you would prefer not to receive these you can opt-out by ticking the box below.
Alternatively, you can use the unsubscribe link at the bottom of the Demo account confirmation email or any subsequent emails we send.
By completing the form and downloading the platform you agree with the use of your personal information as detailed in the Policy.