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Sunday, December 26, 2010

the year in fine shape London stock market poised to finish

the year in fine shape London stock market poised to finish LONDON : THE London stock market is poised to finish the year in fine shape, after breaking through the 6,000-point threshold on Friday, but analysts warn that rougher sledding can be expected in 2011. The FTSE 100 Index ended the week at 6,008.92 points, a 2.34% gain on the finish a week earlier. The index had not risen above 6,000 for 30 months.

But analysts noted that the performance came during an especially quiet period in the run-up to Christmas, with calm likely to prevail this week. Markets are closed today and tomorrow and will have a shortened session on Friday, Dec 31.

The London stock exchange has risen 11.21% so far this year, driven in particular by the mining sector, which has been supported by a rise in raw materials prices linked to economic momentum in China and elsewhere in Asia.

Banks by contrast have suffered from the impact of the eurozone debt crisis, notably in Ireland, where Britain has major economic interests.

Experts have said the London market could get a boost in 2011 from renewed appetite for equities on the part of investors and their growing mistrust of the sovereign bond market. But caution is called for as clouds gather over the British economy and those of its European partners, they added. AFP For the latest updates PRESS CTR + D or visit Stock Market news Today

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