UK stocks : FTSE 100 index edges up 0.1 pct
- BJP rubbishes Geelani's claim, calls separatist leader's 'Modi emissary talk' as 'false and mischievous'
- Modi's jibe at Mulayam: âBalaatkariyon ke liye Netaji ka mann ekdum mulayam haiâ
- Ramdev âgoes liveâ on poll funding, Congress hits BJP on black money
- After denying a 'Modi wave', Joshi endorses Modi as India's next PM
- Elections 2014 LIVE: Rahul Gandhi addresses a rally in Assam; Sonia Gandhi to address a rally in Amethi today
UK stock closing: Britain's blue-chip index posted its highest close in nine months on Tuesday, supported by strong German economic data but enduring a late sell-off as it balked at technical resistance.
The FTSE 100 closed up 3.34 points, or 0.1 percent, at 5,924.97, edging off an intraday high of 5,937.93 on a bout of selling in the last 45 minutes of trading.
The sell-off dragged the index back below a September intraday high that had been the top end of recent ranges.
"A close above the September high of 5,932.62 would be a very positive sign, but with resistance at the year high (of 5,989) before we get to 6,000, I'd still be patient," said Phil Roberts, head of technical analysis at Barclays Capital.
Having stalled at that level, Roberts said he was looking for support around the 5,830 level.
Despite failing to post a strong close, the index did rise for the fifth day in a row, the second such run this month and only the fourth this year.
Supporting the rise was a much bigger than expected jump in Germany's influential ZEW survey of economic sentiment in November. The FTSE 100 added 0.2 percent in the 70 minutes after the data.
"The market needed a catalyst to finally break that magnetism that the 5,900 level had been having on the FTSE, and arguably today's ZEW confidence figures from Germany have not only beaten expectations but fairly smashed them," said Alastair McCaig, Market Analyst at IG Index.
He added that the FTSE was less exposed to the ZEW survey than European markets, but the stronger gains they posted also helped lift the UK index. Germany's DAX closed up 0.8 percent, with the French CAC and the Spanish IBEX indexes up 0.9 and 1.5 percent, respectively.
Miners were among the top gainers in Britain, with basic materials adding 6 points and bringing the index into positive territory. Miners are sensitive to global economic sentiment, and were further supported as a ZEW economist said Germany was not heading for recession.