* FTSE 100 closes at highest level since late May 2013
* FTSE 100 ends up 0.8 pct at 6,819.86 points
* GlaxoSmithKline rises as SocGen tips stock
* Burberry rises after strong Christmas sales
By Sudip Kar-Gupta
LONDON, Jan 15 Britain's top equity index rose
on Wednesday to set its highest closing level in eight months,
as the World Bank's upward revision of global growth forecasts
buoyed the market.
The blue-chip FTSE 100 index finished up by 0.8
percent, or 53 points, at 6,819.86 points - marking its highest
closing level since late May 2013.
"The general outlook today has been fairly positive, helped
by the World Bank upgrade," said Hantec Markets analyst Richard
A 1.7 percent rise at heavyweight healthcare group
GlaxoSmithKline gave one of the biggest lifts to the
FTSE, after Glaxo was added to SocGen's "premium list" of
Luxury goods group Burberry also featured on the
FTSE's leaderboard with a 4.6 percent rise after reporting
higher revenues over the Christmas period.
The FTSE 100 rose 14.4 percent in 2013 to post its best
annual gain since 2009.
The UK stock market has been buoyed by a gradual recovery in
the British economy.
Further signs that world trade is picking up in the wake of
the 2008 financial crisis came after the World Bank raised its
forecast for global growth for the first time in three years.
Adrian Slack, technical strategist at APS Alpha, felt the
FTSE 100 could push on to hit the 6,900-point mark - with a
record level of 7,000 points within sight.
However, he added he would not want to buy equities at
current levels as he still felt there was a risk the market may
slip back in the first quarter if corporate results failed to
meet market expectations.
"I would not want to be chasing it here," he said.