8 Apr 2015
FTSE recaptures 7000 levels
FXStreet (Mumbai) - The London’s Ftse index rose to 7000 levels on Wednesday, with shares of BG Group PLC rising after news of a planned takeover by industry heavyweight Royal Dutch Shell PLC.
The FTSE 100 index was 38.05 points higher at 7000, having risen as high as 7,012.06 amid the euphoria over the BG deal.
BG group gains 34%, Royal Dutch Shell drops 6%
The shares in BG Group rose 34% on Wednesday after the cash and shares offer from Shell valued the UK-based business at 1,367p a share. On the other hand, Royal Dutch Shell shares declined 6% on fears of risk associated with BG Group.
Royal Dutch Shell said it has agreed to buy oil and gas exploration firm BG Group in a deal that values the business at GBP 47 billion. The deal could be one of the biggest of 2015 and could produce a company with a value of more than GBP 200 billion.
Other major gainer include names like Tullow Oil, Experian, BP, BHP Nilliton, while major losers include Aviva, TUI AG, ITV.
FTSE Technical Levels
The immediate resistance is seen at 7037.67, above which gains could be extended to 7065.08. On the flip side, a failure to sustain above 7000 could drive the index lower to 6968.30.
The FTSE 100 index was 38.05 points higher at 7000, having risen as high as 7,012.06 amid the euphoria over the BG deal.
BG group gains 34%, Royal Dutch Shell drops 6%
The shares in BG Group rose 34% on Wednesday after the cash and shares offer from Shell valued the UK-based business at 1,367p a share. On the other hand, Royal Dutch Shell shares declined 6% on fears of risk associated with BG Group.
Royal Dutch Shell said it has agreed to buy oil and gas exploration firm BG Group in a deal that values the business at GBP 47 billion. The deal could be one of the biggest of 2015 and could produce a company with a value of more than GBP 200 billion.
Other major gainer include names like Tullow Oil, Experian, BP, BHP Nilliton, while major losers include Aviva, TUI AG, ITV.
FTSE Technical Levels
The immediate resistance is seen at 7037.67, above which gains could be extended to 7065.08. On the flip side, a failure to sustain above 7000 could drive the index lower to 6968.30.