News article

FTSE down after hitting early high

FTSE down after hitting early high
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The FTSE 100 reached its highest level for 21 months in stock market trading earlier today (March 30th), but has since fallen despite stronger commodity stocks.

It hit 5,742.75 points at the start of trading but later fell and was down 0.01 per cent to 5,710.09 points by 13:45 BST, Reuters reports.

The dip could have been more pronounced were it not for gains among commodity firms, which have been among the strongest performers so far today.

Increases of as much as 2.07 per cent were recorded by Vedanta Resources, Antofagasta, Xstrata, Anglo American, Fresnillo and Rio Tinto.

Nick Serff of City Index said without these increases, indexes around Europe would be "trading more negatively".

Many traders are "perplexed as to whether to build on equity positions or not", he added, noting the end of the first quarter and a long Easter weekend when the markets will be closed are both approaching, creating uncertainty.

Posted by Greg SeckerADNFCR-1681-ID-19697102-ADNFCR