6 Nov 2014
FTSE weakens ahead of the BOE meet
FXStreet (Mumbai) - The UK equity markets are trading in the red ahead of the Bank of England meet, after the index closed up 1.3% in the previous session supported by reassuring corporate reports.
The Ftse is trading 0.28% lower at 6520.80 levels. The index breadth is negative with an advance decline ratio of 30:70. Among the stocks, WM Morrison gained 7.6% despite reporting a sales drop. Moreover, the company has narrowed its forecast range for profit this year. Other top gainers include Sainsbury, Marks&Spencer, Tesco, Experian. Meanwhile, the index is being pressurized by the losses in RSA insurance, Smith&Nephew, Ashtead.
Ftse Technical Levels
The index has an immediate resistance at 6528 (Aug 8 low), above which the prices can rise to 6557 levels. On the other hand, prices can fall to 6480 levels, if the immediate support at 6502 is breached.
The Ftse is trading 0.28% lower at 6520.80 levels. The index breadth is negative with an advance decline ratio of 30:70. Among the stocks, WM Morrison gained 7.6% despite reporting a sales drop. Moreover, the company has narrowed its forecast range for profit this year. Other top gainers include Sainsbury, Marks&Spencer, Tesco, Experian. Meanwhile, the index is being pressurized by the losses in RSA insurance, Smith&Nephew, Ashtead.
Ftse Technical Levels
The index has an immediate resistance at 6528 (Aug 8 low), above which the prices can rise to 6557 levels. On the other hand, prices can fall to 6480 levels, if the immediate support at 6502 is breached.