Morning Markets: FTSE rises away from 'death cross' pattern

The FTSE 100 index is seen rising on Friday, clawing back some of the previous session's sharp losses.

It opened up 19.48 points, or 0.38%, to 5119.71 as investors look ahead to the G20 weekend summit of world leaders in Canada. Three days of declines have pulled the index's 50-day moving average down to 5,329.15, little more than a point above the 200-day figure of 5,328.1. The last time the FTSE 100 formed a so-called "death cross pattern", where the 50-day average drops below the 200-day average, was in December 2007 as UK stocks began a 45% slump through March 2009. Financials helped lift the index, despite, a bearish semi-annual Financial Stability Report from the Bank of Engla...