13 Feb 2015
FTSE gains as Energy shares and Miners gain
FXStreet (Mumbai) - The London’s Ftse index inched higher today supported by gains in the Energy shares and Mining shares. The positive action in the other major European markets also helped the index gain strength. The Germany’s Dax rose to a new record high of 10,994 levels.
Energy and Mining stocks advance
The Oil stocks have been buoyed by gains in the crude oil prices, while the Miners continue to recover on an uptick in metal prices. The Ftse Oil index is up 1.5%, while the Mining index is up 2.77%. Among stocks, Tullow Oil leads the index higher, with a 3.4% gain. BHP Billiton and Anglo American gained. 308% and 2.70% respectively.
Meanwhile, the losing side includes shares in BT Group, down 1.81%, followed by a 1.51% fall in United Utilities. The airliner Easyjet declined 1.35% as Oil prices continue to recover.
FTSE Technical Levels
At the moment, the index trades at 6882.50, up 0.80% for the day. The immediate resistance is seen at 6886.22 (Feb. 6th high), followed by another resistance at 6894.87 (May 2014 high). On the flip side, support is seen at 6817.22 and 6773.54 (Jan. 27th high).
Energy and Mining stocks advance
The Oil stocks have been buoyed by gains in the crude oil prices, while the Miners continue to recover on an uptick in metal prices. The Ftse Oil index is up 1.5%, while the Mining index is up 2.77%. Among stocks, Tullow Oil leads the index higher, with a 3.4% gain. BHP Billiton and Anglo American gained. 308% and 2.70% respectively.
Meanwhile, the losing side includes shares in BT Group, down 1.81%, followed by a 1.51% fall in United Utilities. The airliner Easyjet declined 1.35% as Oil prices continue to recover.
FTSE Technical Levels
At the moment, the index trades at 6882.50, up 0.80% for the day. The immediate resistance is seen at 6886.22 (Feb. 6th high), followed by another resistance at 6894.87 (May 2014 high). On the flip side, support is seen at 6817.22 and 6773.54 (Jan. 27th high).