FTSE stumbles around 2-month highs

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London - Britain's FTSE 100 opened marginally higher on Friday as caution over growth in Europe and US jobs data prevented the index punching through fresh two-month highs.

London's blue chip index was up 6 points, or 0.1 percent at 5,907.42, having closed at its highest level since mid October in the previous session.

“(Thursday's) move puts the index in a position to rally further if investors decide to bite the bullet and buy strength,” James Hyerczyk, an analyst at Autochartist, said.

“Based on the strong close, it looks as if sentiment is still to the upside; however a break back under 5,852.90 will signal that momentum has shifted back to the downside,” he said.

The index was struggling for momentum early on after Germany's Bundesbank cut its growth outlook for next year and ahead of November US jobs data, which is expected to be weaker than October's, hit by superstorm sandy. - Reuters


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