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FTSE 100 set for new record winning streak

Today's rise of 9.52 points in the FTSE 100 index, which now stands at 4586.13, was the 11th consecutive rise in the index which equals the record. If the index was to end in positive territory tomorrow this would be an all-time record 12 consecutive days of increases. But what is actually pushing the index ahead?

There is no doubt that the last couple of weeks have seen a gradual improvement in investor confidence in the UK economy with more and more people now adamant that a recovery is not too far away. A number of research notes have also added to the mix with Royal Bank of Scotland for example having advised clients to short the FTSE 250 in favour of the FTSE 100. However, in the midst of these positive influences on the market it has to be noted that volumes have been fairly low of late, there are rumours of further fundraisings and indeed some people believe interest rates could rise sooner rather than later.

It will be interesting to see how the FTSE 100 performs over the next few days and whether a potential 12th consecutive rise could be the catalyst for about a profit-taking or will the recovery continue.

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