Market Rally Running Out of Steam?
LONDON, July 9, 2012 /PRNewswire/ --
June proved to be a bullish month for stock markets, with investors buying back into the market after three previous months of declines as Central Banks looked to stimulate a slowing global economy.
In June, the FTSE 100 gained 251 points or 4.7%.
However, having hit resistance at the 5700 level at the end of last week, will the FTSE's charge start to run out of steam? By close of play in the UK on Friday (July 6), all the major indices were firmly in the red, with the Dow Jones leading the way as it fell by over 150 points (over 1%) by 4.40pm (BST). Major indices in the UK and Europe recorded falls too, with the FTSE 100 shedding 30 points and Germany's DAX 30 sliding by over 125 points to close the week at 5662.6 and 6410.1 respectively.
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