FTSE 100 may top 7,000 by year end

The late summer rally in UK equities was nipped in the bud when the sharp rise in oil prices and profit warnings from technology, media and telecommunications companies saw August's gains more than dissipated in September and October. However, conditions are intact for a year-end rally that could take the FTSE 100 over the 7,000 mark. But Vodafone remains plagued by earnings growth doubts and the two oil majors may have topped out with the oil price. Together they exert a powerful influence on the index. On the economic front, growth is likely to remain modest but good enough to sustain...