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That is the observation made by market strategist at City Index Joshua Raymond, who explained that confidence among stock market traders was boosted by the gross domestic product figures for the fourth quarter of 2009.
Earlier in the day, Mr Raymond suggested that investors would be cautious ahead of the release of the statistics.
And with growth of 5.7 per cent being identified, he added that the "welcome surprise" had led to an increase in share prices.
"The fact that equity gains continued to grow throughout the session helps to reinforce the fact that confidence has not been significantly damaged by recent losses," said Mr Raymond.
Overall, buyers seem to feel that the eight per cent decline in the FTSE was excessive and more could be encouraged to come back to the market, the specialist noted.
Posted by Chris Weaver
