FTSE finds buyers after worst day in one and a half years
The FTSE 100 index edged higher today, with some investors seeing cheap buying opportunities after the market’s biggest one-day drop in one-and-a-half years, and with technical charts offering some support.
The FTSE 100 was up 10.27 points, or 0.2 per cent, by 8.01 British time, edging up from five-month lows hit the previous session and holding above its 200-day moving average.
The British benchmark dropped three per cent yesterday, its worst daily showing since September 2011, spooked by news that the US Federal Reserve was planning to scale back its equity-friendly stimulus programme in coming months.