This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
FTSE 100 builds on gains of yesterday
Yesterday saw another strong day of gains for the FTSE 100, with the index having rallied by around 2% since the lows of Wednesday.
While there is some early weakness this morning, the steady recovery goes on. It would need a move below 7120 to create a short-term lower low and break the move upward from the 7070 level that has been in place this week. Further gains will target 7300 and then 7400.