* FTSE 100 closes up 0.3 pct at 6,821.46 points
* Kingfisher slumps after reporting slowdown in trading
* Reed Elsevier rises after forecast-beating results
* Buy FTSE on the dip - Securequity sales trader
By Sudip Kar-Gupta
LONDON, July 24 Britain's main equity index
pushed forward on Thursday, as gains at media company Reed
Elsevier helped offset a slump in home improvements
The FTSE 100 closed up 0.3 percent, or 23.31 points,
at 6,821.46 points.
Reed Elsevier climbed 4.4 percent after reporting first-half
earnings that beat market expectations.
However, Kingfisher slumped 8.2 percent after it suffered a
sharp slowdown in trading in June.
Weak corporate results have helped push down the FTSE over
the past month, with the index still down about 1.1 percent from
its May peak of 6,894.88 points, its highest level since
However, Securequity sales trader Jawaid Afsar backed using
days when the market fell to add to equity positions, as he felt
the FTSE should hit a record level of 7,000 points later this
year, helped by Britain's strengthening economy.
"Even with thin volumes, the market has been well supported
down at the lower levels. The probability of a breakout to the
upside is growing," said Afsar.
Hantec Markets analyst Richard Perry also said the outlook
for the FTSE was starting to become slightly more positive.
Kyri Kangellaris, managing director at Strand Capital, said
clients with more short-term positions should look to sell out
of the FTSE at the 6,850 point level for a profit, but buy back
into it if the FTSE fell down to the 6,750 point level.
(Additional reporting by Alistair Smout; Editing by Robin