Britain's FTSE steadies near 4-1/2 year highs
LONDON (Reuters) - Britain's benchmark share index was flat on Monday, steadying near its highest level in four-and-a-half years although some technical indicators suggested its recent rally may peter out in the near term.
The blue-chip FTSE 100 index .FTSE was roughly flat at 6,284.71 points by 0805 GMT, having gained 0.3 percent on Friday in a move that had pushed the index up to its highest level since mid-2008.
However, the FTSE 100 is now at a level where it was in "overbought" territory, according to technical analysts, which some traders may use as a sign to sell and book profits on equities in the near term.
The FTSE 100's relative strength indicator (RSI) is currently at 81 points - above the 70 point level which shows that an index is in technically "overbought" territory.
(Reporting by Sudip Kar-Gupta; editing by Simon Jessop)
- Tweet this
- Share this
- Digg this
- Exclusive - Pimco's Gross declares El-Erian is 'trying to undermine me'
- CEO in apparent suicide was bitcoin fan, had other issues, too
- Privacy groups ask regulators to halt Facebook's $19 billion WhatsApp deal
- UPDATE 3-Turkish president rejects Facebook, YouTube ban over wiretaps
- UPDATE 3-Indian shares rally to record as foreign investors buy big
Sahara’s investment programmes include schemes that are similar to a typical Indian bank’s fixed or recurring deposits. But the arrest of the company's chief Subrata Roy last week and the court case over an outlawed bond scheme are raising fears among some investors who worry they will not get their money back. Full Article