18 Dec 2014
FTSE gains almost 1%
FXStreet (Mumbai) - The London’s Ftse index opened higher following on the increased probability of a delay in the interest rate hike in the US, although part of the gains have been erased.
The Ftse traded 0.89% higher at 6391 levels at the time of writing, compared to the previous session’s close of 6336.48 levels. The index had opened higher at 6418.50 levels, before declining to the current level of 6391. The index breadth is positive with an advance-decline ratio of 88:11. The Ftse Oil Equipment Services and Distributions index gained 4.75%, while the Mining index is up 1.42%. All other sectors are trading in green, except the Telecom index, which has weakened 1.14%.
Among stocks, Petrofac and Tullow Oil have gained 5.64% and 4.43% respectively. Meanwhile, Cocacola and United Utilities have weakened 2.33% and 1.5% respectively. The index hit a low of 6358 levels before recovering on a stronger-than-expected UK retail sales data for November.
FTSE Technical Levels
The index has an immediate resistance at 6446, above which gains could be extended to 6544 levels. Meanwhile, support is seen at 6361 and 6294 levels.
The Ftse traded 0.89% higher at 6391 levels at the time of writing, compared to the previous session’s close of 6336.48 levels. The index had opened higher at 6418.50 levels, before declining to the current level of 6391. The index breadth is positive with an advance-decline ratio of 88:11. The Ftse Oil Equipment Services and Distributions index gained 4.75%, while the Mining index is up 1.42%. All other sectors are trading in green, except the Telecom index, which has weakened 1.14%.
Among stocks, Petrofac and Tullow Oil have gained 5.64% and 4.43% respectively. Meanwhile, Cocacola and United Utilities have weakened 2.33% and 1.5% respectively. The index hit a low of 6358 levels before recovering on a stronger-than-expected UK retail sales data for November.
FTSE Technical Levels
The index has an immediate resistance at 6446, above which gains could be extended to 6544 levels. Meanwhile, support is seen at 6361 and 6294 levels.