3SOF

LSE close hit by technical glitch

LONDON | Tue Feb 15, 2011 1:26pm EST

LONDON (Reuters) - The London Stock Exchange failed to stop trading Tuesday as scheduled -- one day after completing a major system upgrade -- causing confusion among its clients, who blamed a technical problem. The LSE, which ends normal trading at 1630 GMT before starting its closing auction, conceded on its website that normal trading did not cease until 42 seconds after the official close at 1630.

LSE clients were worried the slight delay might have meant that orders destined for the auction were mixed with normal trades, triggering concerns over which trades had been executed.

"Normal trading overran into what we thought was the auction so we didn't know what was going on for a while," said the head of electronic trading at one European broker.

The LSE, which said all trades would remain valid, added it was investigating the problem.

United Kingdom: FTSE 100...

Weak miners push FTSE lower despite banking rally.

United Kingdom: FTSE 100...
The FTSE 100 index follow-through above 6050 signals an advance to the 2007 high at 6750*.

* Target calculation: 5800 + ( 5800 - 4800 ) = 6800

United Kingdom: FTSE 100...
Bearish divergence on 13-week Twiggs Money Flow warns of selling pressure on the FTSE 100. Failure of support at 5850 would warn of a correction, while breakout above 6100 would signal an advance to the 2007 high at 6750*.


* Target calculation: 5800 + ( 5800 - 4800 ) = 6800

United Kingdom: FTSE 100...
Momentum on the FTSE 100 is declining, with penetration of the rising trendline and Twiggs Momentum testing the zero line. The index is ranging between 5850 and 6100. Downward breakout would warn of a correction, while upward breakout would indicate an advance to the 2007 high at 6750*.

* Target calculation: 5800 + ( 5800 - 4800 ) = 6800

United Kingdom...
The FTSE 100 displays both bullish and bearish divergences on 13-week Twiggs Money Flow. Reversal below 5850 would indicate retracement to test support. Failure of primary support at 5500 remains unlikely, but would signal a reversal.

* Target calculation: 5800 - ( 6100 - 5800 ) = 5500