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6 Jan 2015
FTSE declines, Ashtead tanks 6.8%
FXStreet (Mumbai) - The London’s Ftse index extended the decline today due to the weakness in the Energy stocks and Technology stocks.
The index now trades 1.17% lower at 6342.00 levels, compared to the previous session’s close at 6417.16 levels. The index breadth is negative with an advance-decline ratio of 11:92. The Ftse Technology index is down 2.23%, while the Oil and Gas index weakened 1.57%. Despite weakness in the energy shares, the Ftse Industrial Metals and Mining index gained 1.1% after the HSBC data highlighted resilience in the Chinese service sector.
Among the index stocks, Industrial-equipment rental firm Ashtead fell 6.9%, after Its US peer United Rentals was downgraded overnight. Other losers include Travis Perkins; -3.17%, Hargreaves Lansdown; -2.92%. Petrofac has lost 2.67%. On the plus side,Randgold is the top gainer; up 2.63%, followed by Fresnillo; up 2.44%.
The stock markets were also hurt by the disappointing Markit PMI data for December, which showed service sector activity expanded at a slowest pace since 19 months.
Ftse Technical Levels
The index has an immediate support located at 6313, under which losses could be extended to 6270 levels. Meanwhile, resistance is seen at 6357 and 6383 levels.
The index now trades 1.17% lower at 6342.00 levels, compared to the previous session’s close at 6417.16 levels. The index breadth is negative with an advance-decline ratio of 11:92. The Ftse Technology index is down 2.23%, while the Oil and Gas index weakened 1.57%. Despite weakness in the energy shares, the Ftse Industrial Metals and Mining index gained 1.1% after the HSBC data highlighted resilience in the Chinese service sector.
Among the index stocks, Industrial-equipment rental firm Ashtead fell 6.9%, after Its US peer United Rentals was downgraded overnight. Other losers include Travis Perkins; -3.17%, Hargreaves Lansdown; -2.92%. Petrofac has lost 2.67%. On the plus side,Randgold is the top gainer; up 2.63%, followed by Fresnillo; up 2.44%.
The stock markets were also hurt by the disappointing Markit PMI data for December, which showed service sector activity expanded at a slowest pace since 19 months.
Ftse Technical Levels
The index has an immediate support located at 6313, under which losses could be extended to 6270 levels. Meanwhile, resistance is seen at 6357 and 6383 levels.