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The FTSE 100 rally moves into sixth day

The FTSE 100 index today closed up 59.28 points at this 4638.92 which is a sixth consecutive day of gains. While many observers are puzzled as to why the index has started 2009 so positively it may well have something to do with the recent rally on Wall Street, which came to an end at the close of play today.

The UK stock market is awaiting news of the MPC ruling on UK base rates with the general consensus of opinion split as to what will happen. Some observers believe we could see rates fall by over half percent while others suggest a move of one half or one quarter of a percent downwards could be on the cards. The consensus in the currency markets had been for a 0.8% cut but this appears to have changed over the last few hours. It will be interesting to see what the currency markets have discovered before the MPC announcement is made public.

While 2008 was one of the worst years on record for the UK stock market, 2009 has set off on a very positive trend although how long this will continue remains to be seen. As always, professional advice should be taking before transacting on any stock market.

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