Reuters: Hot Stocks: Britain's FTSE bounces back above 6,500

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Britain's FTSE bounces back above 6,500 Mar 14th 2013, 08:16 LONDON, March 14 | Thu Mar 14, 2013 4:16am EDT LONDON, March 14 (Reuters) - Britain's top shares rose early on Thursday, bouncing after falls in the previous session and led by the likes of Morrison Supermarket, Aggreko and Home Retail, which all rose after updates. By 0811 GMT, London's top share index was up 22.32 points, or 0.3 percent, at 6,503.82, having shed 0.5 percent on Wednesday. The FTSE 100 remains in its upward trend channel stretching back to the middle of February. Technical analysts said that recent price action -- the FTSE bounced convincingly off intraday lows on Wednesday -- proved that investors remained willing to buy back into the market on any sign of weakness, despite the index being at 5-year highs and up 15.6 percent since November. Temporary power provider Aggreko rose 2 percent after agreeing a power deal with Mozambique and Namibia. Britain's fourth-largest supermarket Wm Morrison Supermarket climbed 2 percent after raising its dividend by 10 percent and announcing it was in talks with online grocer Ocado to help launch an online food operation is to launch in 2014. Home Retail, Britain's biggest household goods retailer, meanwhile rallied 13.5 percent after it upgraded its annual profit forecast for the second time in 2013 as sales at Argos continued to improve. (Reporting by David Brett) Link this Share this Digg this Email Reprints

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