6th Day of Gains on FTSE 100

WEDNESDAY MARKET UPDATE: The FTSE 100 index is now closed at one of its highest levels of 2012

Alanna Petroff 12 December, 2012 | 5:36PM
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UK markets continued their slow and steady rise on Wednesday, with the FTSE 100 index closing at one of its highest levels of the year. The FTSE 100 ended the day at 5,946, after rising by 21 points, or 0.4%. This is the sixth consecutive day that the benchmark index has pushed higher. 

Resource stocks helped lead the FTSE 100 forward as commodity prices were trading up. EVRAZ (EVR) claimed the top gainer spot after rising by 4.5%.

The FTSE 250 index, which is composed of UK-traded mid-cap companies, also advanced by 34 points, or 0.3%, to close at 12,224.

Investors are now turning their attention stateside as they wait to hear from the US Federal Reserve.

"The Federal Reserve is widely believed to launch a fresh round of purchases of Treasury’s after Operation Twist expires at the end of the year," said Fiona Cincotta, a market analyst at City Index. "There are varying views as to the possible magnitude and duration of the new programme but the markets are confident that there will be a replacement. The central bank will be keen to stay predictable in order to support the markets, especially given the uncertainty that is surrounding the fiscal cliff."

The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

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Alanna Petroff

Alanna Petroff  is a financial journalist with Morningstar UK.