FTSE 100 Continues Recovery

FRIDAY MARKET UPDATE: The FTSE 100 recovered some lost ground by the end of the trading day, but the benchmark index is still off by 1.3% for the week

Alanna Petroff 8 February, 2013 | 6:32PM
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The FTSE 100 pushed higher on Friday, which helped the large-cap index claw back from some sharp losses earlier in the week. The index is closing the week with a 1.3% loss. Meanwhile, the mid-cap FTSE 250 index also moved ahead on Friday and ended the week with a 0.75% gain. The markets are still trading near a 4 1/2 year high that was set last week.

"We are ending the week on a positive note as the markets rebound from yesterday’s sell-off," said IG market analyst, David Madden.

"Despite the Libor-rigging scandal tarnishing the financial industry and Mark Carney’s muted comments regarding monetary easing, the banking sector [led] the way. Traders have short memories when it comes to bad news; yesterday’s biggest losers -- the Royal Bank of Scotland (RBS) and Barclays (BARC) -- are among today’s winners," he said. 

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About Author

Alanna Petroff

Alanna Petroff  is a financial journalist with Morningstar UK.

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