Having been the ugly sister among the indices for months, the FTSE 100 is finally the belle of the ball. The UK large-cap index made fresh post-2009 bull-market highs yesterday, albeit only just. From a fundamental perspective, the FTSE is significantly cheap right now, both in relative and absolute terms. There is plenty of justification for its uptrend to continue in the months ahead. For now, I would be looking to buy the recoveries from intraday dips. The index is not overbought on a daily or intraday view, which leaves scope for further gains imminently.
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