Thursday, 14 August 2014

UK Stock market Overview, Thursday, August 14 2014

Stock Market Overview
European stocks climbed after the Bank of England (BoE) upgraded its economic 
growth forecast in its Inflation Report on Wednesday. 
The BoE's forecast for the UK economy is that it will grow 3.5% this year, compared 
to an earlier estimate of 3.4%.
In 2015 the Bank expects growth of 3%, up from the previous 2.9% projection.After 
a slow start, the FTSE 100 was up 0.4% at 6,662 by midday, though ex-dividend stocks 
were limiting upside on the index.
It is managing to close above 6600 level from last few trading session so in upcoming 
session further recovery is expected as RSI has trading above the level of 50 and looking 
strong for buying.
Index has managing to trade above 50 DMA and facing resistance from 200 DMA 
crossing of it can test the level of 6850.