Britain's FTSE steadies near 4-1/2 year highs

LONDON Mon Jan 28, 2013 1:40pm IST

Kishore Pandey, 82, lies on a bed as his daughter, Usha Tiwari, holds him and a priest stands by them (L) at Mukti Bhavan (Salvation House) in Varanasi, in the northern Indian state of Uttar Pradesh, June 19, 2014. REUTERS/Danish Siddiqui

Waiting to die at Salvation House

The city of Varanasi is Hinduism's holiest city and many Hindus believe that dying there and having their remains scattered in the Ganges allows their soul to escape a cycle of death and rebirth.  Slideshow 

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)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

India-Nepal Ties

REUTERS SHOWCASE

Tackling Food Prices

Tackling Food Prices

India to free up extra 10 million tonne wheat in open market  Full Article 

Facebook Results

Facebook Results

Facebook beats Wall Street targets, stock hits record high  Full Article 

GM Recall

GM Recall

GM recalls 717,950 vehicles in U.S., not for ignition switches  Full Article 

Hyundai Motor Results

Hyundai Motor Results

Hyundai Motor Q2 profit slips as firmer won, U.S. discounts hurt  Full Article 

Nokia Results

Nokia Results

Nokia raises networks outlook after Q2 profit beats estimates  Full Article 

Factory Sector

Factory Sector

China July HSBC flash PMI at 18-month high of 52.0   Full Article 

Breakingviews

Breakingviews

Apple winds up earnings hope for new gadgets  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage