FTSE nears 6,000 after hitting 8-month high

Having already closed above a technical resistance level of 5,950 last night, insurers helped it hit a new eight month high today, with the index gaining 0.5% or 30 points, to 5,985. The index has notched up a 7% gain since the turn of the year, amid a brighter global economic outlook. Sentiment has improved as fears over a systemic debt crisis in the eurozone receded, while a better than expected uptick in US growth has also driven markets upwards. The index has not traded above 6,000 since last July, prior to the steep market correction. The market subsequently fell below 5,00...