17 Dec 2014
FTSE declines, Dixons Carphone gains 4%
FXStreet (Mumbai) - The London’s Ftse index declined today after rising more than 2% on Tuesday as caution prevails ahead of the Federal Reserve policy statement due later today.
The Ftse traded 0.49% lower at 6301 levels at the time of writing, compared to the previous session’s close at 6331.83 levels. The index breadth is negative with an advance-decline ratio of 20:80. The Ftse Forestry and Paper index is down 4.10%, while the Bank index is down 1.26%. Most of the sectors are trading in the red. However, the Industrial Metals and Mining index is up 6.05%, along with a 1.16% and 0.92% gain in the Oil and Gas index and the Mining index.
Among stocks, Dixons Carphone gained 4.10%, after it reported a 30% rise in underlying half-year profits. Other gainers include stocks like Rio Tiinto, Royal Dutch Shell A., and Antofagasta. On the minus side are stocks like Mondi, IAG, TUI Travel, Barclays and Petrofac.
Moreover, the Bank of England minutes and the UK employment data released earlier today failed to have any material impact on the stock markets. Now all eyes are on the Fed policy statement due later today. There is speculation that the US central bank will end its commitment to keep interest rates low for a "considerable period", suggesting a rate rise is moving closer.
Ftse Technical Levels
The index faces immediate resistance at 6356.30, above which gains could be extended to 6404 levels. On the other hand, a break below support at 6238, shall open doors for a re-test of 6182 levels on the downside.
The Ftse traded 0.49% lower at 6301 levels at the time of writing, compared to the previous session’s close at 6331.83 levels. The index breadth is negative with an advance-decline ratio of 20:80. The Ftse Forestry and Paper index is down 4.10%, while the Bank index is down 1.26%. Most of the sectors are trading in the red. However, the Industrial Metals and Mining index is up 6.05%, along with a 1.16% and 0.92% gain in the Oil and Gas index and the Mining index.
Among stocks, Dixons Carphone gained 4.10%, after it reported a 30% rise in underlying half-year profits. Other gainers include stocks like Rio Tiinto, Royal Dutch Shell A., and Antofagasta. On the minus side are stocks like Mondi, IAG, TUI Travel, Barclays and Petrofac.
Moreover, the Bank of England minutes and the UK employment data released earlier today failed to have any material impact on the stock markets. Now all eyes are on the Fed policy statement due later today. There is speculation that the US central bank will end its commitment to keep interest rates low for a "considerable period", suggesting a rate rise is moving closer.
Ftse Technical Levels
The index faces immediate resistance at 6356.30, above which gains could be extended to 6404 levels. On the other hand, a break below support at 6238, shall open doors for a re-test of 6182 levels on the downside.