News article

UK stocks rebound from losses

UK stocks rebound from losses
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Traders invested in UK shares today (January 26th) as they recovered from two consecutive days of losses, with the suggestion the Federal Reserve plans to keep interest rates low for the next two years improving the market's outlook.

The benchmark FTSE 100 Index moved up by 65.11 points, or 1.1 per cent, to 5,788.11, reports Reuters. The UK gauge has improved by 3.9 per cent so far this year amid signs the US economy could be recovering.

Meanwhile, the FTSE-All Share Index grew by 1.2 per cent and Ireland's ISEQ Index added 2.1 per cent.

"Whilst growth has been better than expected in the US, Bernanke's press conference highlighted the willingness and ability of the Federal Reserve to provide more stimuli," said Gerard Lane, an equity strategist at Shore Capital.

He added that the European Central Bank's perceived willingness to help stave off the sovereign debt crisis is also improving investor sentiment.

Gold prices also hit a six-and-a-half week high after the Federal Reserve's unexpectedly dovish attitude, the news provider noted.

Posted by Greg SeckerADNFCR-1681-ID-801275780-ADNFCR