Reuters: Hot Stocks: Britain's FTSE stalls at 4-1/2 year highs

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Britain's FTSE stalls at 4-1/2 year highs Jan 30th 2013, 08:13 LONDON | Wed Jan 30, 2013 3:13am EST LONDON Jan 30 (Reuters) - Britain's blue-chip index edged lower in early trade on Wednesday, stalling at 4-1/2 year highs after a sharp rally towards the end of the previous session took the index further into technically 'overbought' territory. At 0806 GMT, the index was 0.1 percent lower, down 4.38 points at 6,334.81 after gaining 0.7 percent in the previous session's trade, which saw its 14 day relative strength index (RSI) rise above 90 for the first time since May 1997. A level over 70 indicates that an asset is 'overbought'. Imperial Tobacco accounted for nearly all of the index's total fall, losing 4.1 percent after it announced that it expects first-half operating profit to be lower year on year as it faces increased competition from the black market.

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