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16 Dec 2014
Déjà vu as FTSE weakens ahead of US session
FXStreet (Mumbai) - The London’s Ftse is witnessing a move similar to the previous session, as the index weakened ahead of the US session after erasing falling more than 1% from the day’s high.
The Ftse now trades 0.38% lower at 6159 levels, and 1.73% lower from the high of 6267.5 hit earlier today. The index breadth has turned negative now, with an advance-decline ratio of 41:59. The Ftse Industrial Metals and Mining sector has weakened 5.33%, while the energy shares are trading mixed. The Bank index has also weakened by 0.8%, along with similar losses in the Life insurance sector.
Among index stocks, Hargreaves Landsdown has shed its position of biggest gainer for the day, while Tullow Oil, up 1.91%, has entered the list of top gainers. Meanwhile, Coca Cola is not the top loser, down 4.54%.
The index may extend losses since Crude prices are showing no signs of stabilization, while the index futures in the US are pointing to a weak opening on Wall Street.
Ftse Technical Levels
The index has an immediate support at 6143.80, under which losses could be extended to 6072.68 (Oct. 16 low). Meanwhile, resistance is seen at 6267.5 and 6355.30 levels.
The Ftse now trades 0.38% lower at 6159 levels, and 1.73% lower from the high of 6267.5 hit earlier today. The index breadth has turned negative now, with an advance-decline ratio of 41:59. The Ftse Industrial Metals and Mining sector has weakened 5.33%, while the energy shares are trading mixed. The Bank index has also weakened by 0.8%, along with similar losses in the Life insurance sector.
Among index stocks, Hargreaves Landsdown has shed its position of biggest gainer for the day, while Tullow Oil, up 1.91%, has entered the list of top gainers. Meanwhile, Coca Cola is not the top loser, down 4.54%.
The index may extend losses since Crude prices are showing no signs of stabilization, while the index futures in the US are pointing to a weak opening on Wall Street.
Ftse Technical Levels
The index has an immediate support at 6143.80, under which losses could be extended to 6072.68 (Oct. 16 low). Meanwhile, resistance is seen at 6267.5 and 6355.30 levels.