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FTSE100; Marketwatch.

The FTSE100 has continued to edge higher over the last five trading days with respectable corporate earnings driving the index higher. Global equity markets are now in the 8th longest period of straight gains since records began, a fact that is likely instilling caution into many asset managers. However, there does not seem to be a great deal of economic or political risk on the horizon, tapering in the US looks to have been priced in at $10bn a month, the debt ceiling has been kicked yet further down the road, Europe (although inspiring) looks relatively stable and its looks as if the BoE will hold back on raising interest rates for a little while longer. From a technical point of view the FTSE100 is pushing slowly toward the May 22nd high of 6875 and if it breaks through there is a likelihood more upwards pressure.

All that said any shock to the system could well cause a significant pull back at these levels, but if everything pans out as expected there is a strong possibility the UK index could climb higher.
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Title Annotation:Business
Publication:The Birmingham Post (England)
Date:Jan 23, 2014
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