Reuters: Hot Stocks: FTSE bounces back on expectations stimulus to stay

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FTSE bounces back on expectations stimulus to stay Jun 4th 2013, 07:13 LONDON, June 4 | Tue Jun 4, 2013 3:13am EDT LONDON, June 4 (Reuters) - Britain's top share index bounced back from a one-month low in early trading on Tuesday, led by financials, on expectations that the U.S. Federal Reserve would continue its stimulus measures for a longer period. At 0709 GMT, the FTSE 100 index was up 45.90 points, or 0.7 percent, at 6,571.02, after falling 0.9 percent in the previous session to 6,525.12, its lowest since early May. However, Monday's data showing U.S. manufacturing sector contracted in May prompted investors to return back to the market on expectations that the U.S. central bank will not scale down its bond purchases any time soon. Financial shares added the most points to the index, while the material sector also gained. Car and plane parts maker GKN , up 2.1 percent, was the top FTSE 100 gainer, helped by a target price increase by UBS to 350 pence from 275 pence. (Reporting by Atul Prakash) Link this Share this Digg this Email Reprints

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