Reuters: Hot Stocks: Britain's FTSE hits fresh 5-1/2 year peaks

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Britain's FTSE hits fresh 5-1/2 year peaks May 20th 2013, 07:14 LONDON | Mon May 20, 2013 3:14am EDT LONDON May 20 (Reuters) - Britain's top share index rose on Monday, pushing up to fresh 5-1/2 year peaks spurred on by robust economic data out of both the United States and Japan, with technical analysts anticipating further near-term gains. The FTSE 100 was up 15.61 points, or 0.2 percent, at 6,738.67 by 0710 GMT, not far from an intraday peak of 6,754.10 reached in 2007, a resistance level for the index and a near-term target for a number of technical analysts. Craig Erlam, analyst at Alpari, reckoned the FTSE 100 could break that level this week, setting his next target at 6,838, a high in Sept. 2000 which he said was attainable in the next few weeks. The U.S. Dow and S&P 500 finished at new record peaks on Friday after estimate-beating economic data and Japan's Nikkei surged to a 5-1/2 year high on Monday as Tokyo raised its assessment of the country's economy for the first time in two months. (Reporting by Tricia Wright)

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