7 Jan 2015
FTSE snaps three day losing streak
FXStreet (Mumbai) - The London’s Ftse index snapped a three-day losing streak on the back of the early session strength in the Retail shares, coupled with gains in the mining stocks and Oil stocks.
The index currently trades 1.055 higher at 6433.30 levels, compared to the previous session’s close at 6366.51 levels. The index breadth is positive with an advance-decline ratio of 89:14. The Ftse Industrial Metals and Mining index gained 2.11%, while Oil and Gas index is up 1.73%. Meanwhile, Electricity stocks are down 0.87%.
Among the index stocks, Aggreko is the top performer; up 3.76%, followed by a 3.08% gain in Tullow Oil. Shares in Petrofac are up 2.71%. Meanwhile, Associated British Foods is the top loser; down 0.76%, followed by a 0.69% drop in SSE. Sainsbury now trades 0.58% lower, down from a 4% gain at one point after it reported a better than forecast 1.7% decline in like-for-like sales for the quarter to January 3.
Ftse Technical Levels
The immediate resistance is seen at 6452 (Jan 6 high), above which the index could test 6500.00 levels. Meanwhile, support is seen at 6416 and 6384 levels.
The index currently trades 1.055 higher at 6433.30 levels, compared to the previous session’s close at 6366.51 levels. The index breadth is positive with an advance-decline ratio of 89:14. The Ftse Industrial Metals and Mining index gained 2.11%, while Oil and Gas index is up 1.73%. Meanwhile, Electricity stocks are down 0.87%.
Among the index stocks, Aggreko is the top performer; up 3.76%, followed by a 3.08% gain in Tullow Oil. Shares in Petrofac are up 2.71%. Meanwhile, Associated British Foods is the top loser; down 0.76%, followed by a 0.69% drop in SSE. Sainsbury now trades 0.58% lower, down from a 4% gain at one point after it reported a better than forecast 1.7% decline in like-for-like sales for the quarter to January 3.
Ftse Technical Levels
The immediate resistance is seen at 6452 (Jan 6 high), above which the index could test 6500.00 levels. Meanwhile, support is seen at 6416 and 6384 levels.