FTSE has climbed up by almost a fourth since March

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Chart of the day: UK100

24 August

FTSE has climbed up by almost a fourth since March

The FTSE 100 jumped on Monday, tracking Asian markets as US regulators authorised a COVID-19 treatment over the weekend, while drugmaker AstraZeneca rose on a report the US government was considering fast-tracking its experimental vaccine. The export-laden FTSE 100 was up 1.2% after ending Friday with its first weekly loss in three as fresh Brexit concerns compounded fears over the UK's post-pandemic economic recovery.

 

The blue-chip index has gained about 23% from its March lows, but lagged the U.S. benchmark S&P 500 , which is scaling record highs on historic fiscal and monetary stimulus and hopes that the worst of the pandemic's economic damage was over.

 

Support:      S1 5845.32   S2 5509.45

Resistance:  R1 6326.0     R2 6511.28

 

 

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