FTSE stops the rot

A late rally saw the FTSE 100 Index shake off its record-breaking losing streak and close up for the first time in 12 sessions.

A late rally saw the FTSE 100 Index shake off its record-breaking losing streak and close up for the first time in 12 sessions.

Slight gains on Wall Street, and a smattering of bargain hunters, saw the index nudge ahead 9.2 points to 3490.0 by the close of another nervy day.

After sprinting out of the starting blocks the Footsie lost all its early lead, despite a reassuring statement about the health of the UK economy by Downing Street.

Tom Hougaard, trader at spread betting firm City Index, said: "We have to start somewhere and it's certainty encouraging that we have finally managed to close in positive territory.

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