News article

FTSE 100 climbs on strong bank performances

FTSE 100 climbs on strong bank performances
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The FTSE 100 was able to make gains of 16.63 points on Thursday (July 28th), representing a 0.3 per cent advance at the close of stock market trading.

According to Reuters, 12 points came from the banking industry, which climbed following the slide seen on Wednesday as a result of bargain hunters making their move.

Martin Dobson, head of trading at Westhouse Securities, told the news agency that the gains made by the UK benchmark index could be short-lived, since the US debt ceiling issue has yet to be resolved.

"There is nervousness out there and I don't think anyone's prepared to take any positions until they've got a bit more clarity," he explained.

On Wednesday, the FTSE 100 has fallen back 1.2 per cent.

The situation on Thursday looked like it might be subdued, but a late rally allowed it to enter positive territory, IG Index sales trader Will Hedden told the Scotsman.

Posted by Greg SeckerADNFCR-1681-ID-800638721-ADNFCR