|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.