FTSE rises to fresh five-year highs

LONDON Wed Feb 20, 2013 5:12am EST

A man walks past an information bilboard showing the evolution of the FTSE 100 index at the Swiss exchange in Zurich, August 9, 2011. REUTERS/Christian Hartmann

A man walks past an information bilboard showing the evolution of the FTSE 100 index at the Swiss exchange in Zurich, August 9, 2011.

Credit: Reuters/Christian Hartmann

LONDON (Reuters) - Britain's benchmark FTSE 100 .FTSE equity index extended gains on Wednesday to rise to fresh five-year highs, and breached a key psychological level which some traders said could induce bigger moves higher.

The FTSE 100 was up by 0.4 percent at 6,401.79 points by 1003 GMT - breaching the key 6,400 point level.

The stock market extended earlier gains after minutes from the Bank of England signaled a greater likelihood of more monetary stimulus measures, which have boosted equity markets around the world.

The FTSE 100 last traded above the 6,400 point mark in late May 2008.

(Reporting by Sudip Kar-Gupta; Editing by Toni Vorobyova)

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