17 Feb 2015
FTSE declines ahead of UK inflation data
FXStreet (Mumbai) - The London’s Ftse index retreated 0.35% or 23.75 points to 6833.30 ahead of the data in the UK, which is expected show cost of living declined in January.
Investors await UK CPI data
The markets are trading on a cautious note ahead of the official data in the UK, which is likely to show a 0.8% month-on-month fall in the UK inflation in January. Year-on-year the inflation rate is seen slowing down to 0.4% from the previous month’s 0.5%.
Among the index stocks, Petrofac is the top gainer, up 1.6%, followed by a 1.295 gain in Weir Group. On the losing side, shares in Royal Mail are down 3.12%, followed by a 2.76% fall in Sports Direct.
FTSE Technical Levels
The immediate support is seen at 6777.99, under which losses could be extended to 6749.40 levels. On the other hand, resistance is seen at 6864.97 and 6887.57 levels.
Investors await UK CPI data
The markets are trading on a cautious note ahead of the official data in the UK, which is likely to show a 0.8% month-on-month fall in the UK inflation in January. Year-on-year the inflation rate is seen slowing down to 0.4% from the previous month’s 0.5%.
Among the index stocks, Petrofac is the top gainer, up 1.6%, followed by a 1.295 gain in Weir Group. On the losing side, shares in Royal Mail are down 3.12%, followed by a 2.76% fall in Sports Direct.
FTSE Technical Levels
The immediate support is seen at 6777.99, under which losses could be extended to 6749.40 levels. On the other hand, resistance is seen at 6864.97 and 6887.57 levels.