2 Feb 2015
FTSE trades flat, CRH gains 6%
FXStreet (Mumbai) - The London’s Ftse index is trading in the sideways manner after a positive January, while the Irish building supplies groups CRH gained on a deal to buy assets from rivals.
CRH gains on asset purchase deal
The shares in CRH are up 6.99% after the company said it had agreed to pay USD 7.4 billion for assets that Lafarge and Holcim needed to sell to secure regulatory approval for their planned merger. The company said the deal would expand its global reach and also make it the largest building supplier in central and eastern Europe.
However, the gains in the index are being capped by losses in mining stocks; down 1.88%. Meanwhile, oil stocks are up 1.67%. Meanwhile, airliners have come under pressure after the fter Ryanair, Europe's largest airline by passenger numbers said that profit growth will be modest next year. Ryanair fell more than 3%, while Easyjet fell 4.83%; top loser in the Ftse index.
FTSE Technical Levels
The index currently trades 0.05% higher at 6752.50 levels, just above the immediate support zone around 6750 levels, under which next support is seen at 6709 levels. On the flip side, resistance is seen at 6773.14 and 6800.00 levels.
CRH gains on asset purchase deal
The shares in CRH are up 6.99% after the company said it had agreed to pay USD 7.4 billion for assets that Lafarge and Holcim needed to sell to secure regulatory approval for their planned merger. The company said the deal would expand its global reach and also make it the largest building supplier in central and eastern Europe.
However, the gains in the index are being capped by losses in mining stocks; down 1.88%. Meanwhile, oil stocks are up 1.67%. Meanwhile, airliners have come under pressure after the fter Ryanair, Europe's largest airline by passenger numbers said that profit growth will be modest next year. Ryanair fell more than 3%, while Easyjet fell 4.83%; top loser in the Ftse index.
FTSE Technical Levels
The index currently trades 0.05% higher at 6752.50 levels, just above the immediate support zone around 6750 levels, under which next support is seen at 6709 levels. On the flip side, resistance is seen at 6773.14 and 6800.00 levels.