FTSE 100 Daily Analysis 3rd Dec 2009

The FTSE 100 (UKX) registered another impressive close yesterday as it closed above 5300 for the second straight session.

Miners are looking to build on good gains in the previous session as gold hit fresh record highs at $1226.

On the UK economics front, monthly CIPS Services PMI data is scheduled for release at 9:28 a.m., with the headline PMI index expected to rise to 57.0 in November, from 56.9 the previous month.

Investors will eye news from the latest European Central Bank Council meeting, due at 12.45 pm, and weekly US jobless claims numbers will be of interest at 1.30 pm, especially ahead of the November U.S. employment report.

In the corporate diary for the day, interim results are due from ACM Shipping, Ashtead Group, Findel and Halma.

Final results are published by Asset Management Investment, Local Shopping REIT, Marstons and Redhall.

British Airways and Kingfisher will issue trading statements.

Sportswinbet and Yangtze China Investment host AGMs.
Story provided by Business Financial Newswire

Technical Outlook
The Bullish formation continues although we are not putting in any higher highs as of 9.55 am.

Support Level
5361, 5350, 5328, 5312

Resistance Level
5370 , 5386 , 5396