24 Oct 2014
FTSE awaits GDP data
FXStreet (Mumbai) - The UK equity markets are trading marginally lower as the investors await UK Q3 GDP data.
The Ftse is trading 0.28% lower at 6401. Levels, after having recovered from the day’s low of 6370. The index breadth is negative with an advance decline ratio of 30:70. The index is being hurt by the telecom stocks which are down by 2.53%. Meanwhile the electrical and electronic equipment stocks have gained 1.16%.
The UK Q3 GDP data due for release at 8:30 GMT is likely to show that the growth rate slowed down to 3.0% year-on-year, compared to the last quarter’s growth rate of 3.2%.
Ftse Technical levels
The index has an immediate resistance at 6446 (Oct. 2 low), above which the index can rise to 6528 levels. On the flip side, prices may fall to 6237 levels, if the immediate support at 6343 is breached.
The Ftse is trading 0.28% lower at 6401. Levels, after having recovered from the day’s low of 6370. The index breadth is negative with an advance decline ratio of 30:70. The index is being hurt by the telecom stocks which are down by 2.53%. Meanwhile the electrical and electronic equipment stocks have gained 1.16%.
The UK Q3 GDP data due for release at 8:30 GMT is likely to show that the growth rate slowed down to 3.0% year-on-year, compared to the last quarter’s growth rate of 3.2%.
Ftse Technical levels
The index has an immediate resistance at 6446 (Oct. 2 low), above which the index can rise to 6528 levels. On the flip side, prices may fall to 6237 levels, if the immediate support at 6343 is breached.