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As the UK 100 hits day highs of 5,935 today, the question has to be asked; Are we due to hit 6,000 any time soon? If so, when?
Why not have a look at our latest report entitled: ‘Should I Buy Bank Shares?’
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There are many small reasons to be bullish (decent company earnings, improving economic data, commitment to QE from Central Banks) and only one reason to be bearish, but it’s a big one – the threat of peripheral European default.
Unfortunately this threat carries such serious consequences I feel the FTSE100 will be somewhat anchored until a credible resolution is installed. With this in mind could the FTSE100 reach 6000? Maybe, but I see a wall of resistance at this level.