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FTSE rises in morning trade
Written by Saumyatanu   
Friday, 10 December 2010 14:32

FTSE rises in morning trade


London's main stock market rose on Thursday as investors took a breather over the eurozone debt crisis while awaiting the Bank of England's latest decision on interest rates.

Approaching midday trade, the FTSE 100 index was up 0.35 percent at 5,814.55 points.

"Markets are just tracking higher slowly but surely as finally investors are no longer focusing on the doom and gloom scenario within the eurozone, but instead the year end and the possibility that the FTSE could reach the 6,000 (points) level," said Simon Denham, head of trading group Capital Spreads.

"All the indices seem to be heading higher with Asian stocks putting in modest gains and yesterday US markets closed at their second highest level of the year."

The Bank of England is widely expected to announce at 1200 GMT that it is maintaining its key interest rate at a record low level of 0.50 percent.

In Asia meanwhile, Tokyo stocks jumped to a seven-month high as Asian markets mostly rose, but lingering concerns over expected economic tightening by China weighed on Shanghai shares, traders said.

Tokyo's Nikkei index ended the session up 0.52 percent at 10,285.88 points, its highest level since May.