Reuters: Hot Stocks: Financials lead FTSE bounce, charts mixed

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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

Financials lead FTSE bounce, charts mixed Jul 1st 2013, 07:25 LONDON, July 1 | Mon Jul 1, 2013 3:25am EDT LONDON, July 1 (Reuters) - Britain's top share index bounced back on Monday, led by gains for the financial sector, although technical signals were mixed. At 0712 GMT, the blue-chip FTSE 100 index was up 52.82 points, or 0.9 percent, at 6,268.29. The index, which raced to a 13-year high in late May, fell 0.5 percent on Friday. Technical analyst Clive Lambert at FuturesTechs said chart signals on the September futures contract varied depending on the timeframe used. "If I had to make a firm "call" on the back of all of this I'd say last week saw some short covering and/or an end of month/quarter squeeze, and I wouldn't be surprised if the sellers return today," he said in a note. Financials were the top gainers, with the UK banking index rising 0.9 percent and HSBC rising 1.2 percent. GlaxoSmithKline rose 0.8 percent on reports that private equity firms Blackstone and Lion Capital have teamed up to make a formal bid worth more than a billion pounds for Lucozade and Ribena, the two soft drink brands put up for sale by the drugmaker, according to Sky News on Sunday. (Reporting by Atul Prakash; editing by Simon Jessop) Link this Share this Digg this Email Reprints

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