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15 Dec 2014
FTSE gains after a gap down opening
FXStreet (Mumbai) - The London’s Ftse index recovered to trade in green after a weak opening, supported by a technical correction in the Energy shares.
The Ftse index trades 0.39% higher at 6325.30, compared to the previous session’s close of 6300.63 levels. The index breadth is positive with an advance decline ratio of 56:43. The Ftse Oil Equipment Services and Distributions index is up 2.17%, while Oil and Gas index is up 2.02%. Mobile Telecom Index has also gained 0.75%. However, Industrial Metals and Mining index is trading down by 1.61%.
Among stocks, Tullow Oil has gained 5.57%, followed by a 3.65% gain in Petrofac. BG Group and #Weir Group have gained 3.59% and 2.83% respectively. Meanwhile, on the losing side are shares in SKY PLC, down 1.27%. Intu Properties is down 1.08% , followed by similar losses in Severn Trent.
The energy shares have gained today tracking signs of strength in Crude prices. Moreover, the Energy sector has been under pressures due through out the last week.
Ftse Technical Levels
The index has an immediate resistance located at 6386, above which the index may test 6425 (5-DMA). Meanwhile, support is seen at 6300 and 6254 levels.
The Ftse index trades 0.39% higher at 6325.30, compared to the previous session’s close of 6300.63 levels. The index breadth is positive with an advance decline ratio of 56:43. The Ftse Oil Equipment Services and Distributions index is up 2.17%, while Oil and Gas index is up 2.02%. Mobile Telecom Index has also gained 0.75%. However, Industrial Metals and Mining index is trading down by 1.61%.
Among stocks, Tullow Oil has gained 5.57%, followed by a 3.65% gain in Petrofac. BG Group and #Weir Group have gained 3.59% and 2.83% respectively. Meanwhile, on the losing side are shares in SKY PLC, down 1.27%. Intu Properties is down 1.08% , followed by similar losses in Severn Trent.
The energy shares have gained today tracking signs of strength in Crude prices. Moreover, the Energy sector has been under pressures due through out the last week.
Ftse Technical Levels
The index has an immediate resistance located at 6386, above which the index may test 6425 (5-DMA). Meanwhile, support is seen at 6300 and 6254 levels.