30 Mar 2015
FTSE hovers above 6900, snaps 4-day losing streak
FXStreet (Mumbai) - The London’s Ftse index advanced 0.68% to trade at 6901, thereby ending the last week’s four day losing streak.
Miners and Oil shares gain
Shares in Petrofac advanced 2.71%, making it the biggest gainer so far. Miners like Gelncore Xstrata and Antofagasta rose 2.71% and 2.24% respectively. Ashtead gained 2.01%. The Ftse 350 mining index rose 1.21%, while the Ftse 350 Oil and Gas index rose 0.74%.
Meanwhile, losing side includes names such as CRH -1.59%, BG Group -1.39%, Sports Direct -1.25%. The equity markets did not react to the economic data released in the UK today - Mortgage Approvals came in at 61.76K during February vs. 62K expected, M4 Money supply contracted at an annual pace of 3.2% and Consumer Credit shrunk to £0.74 billion vs. £0.90 billion forecasted.
FTSE Technical Levels
The immediate support is seen at the psychological level of 6900.00, under which losses could be extended to 6862.87 (Mar. 4 low). On the other hand, resistance is seen at 6914 and 6974.26 levels.
Miners and Oil shares gain
Shares in Petrofac advanced 2.71%, making it the biggest gainer so far. Miners like Gelncore Xstrata and Antofagasta rose 2.71% and 2.24% respectively. Ashtead gained 2.01%. The Ftse 350 mining index rose 1.21%, while the Ftse 350 Oil and Gas index rose 0.74%.
Meanwhile, losing side includes names such as CRH -1.59%, BG Group -1.39%, Sports Direct -1.25%. The equity markets did not react to the economic data released in the UK today - Mortgage Approvals came in at 61.76K during February vs. 62K expected, M4 Money supply contracted at an annual pace of 3.2% and Consumer Credit shrunk to £0.74 billion vs. £0.90 billion forecasted.
FTSE Technical Levels
The immediate support is seen at the psychological level of 6900.00, under which losses could be extended to 6862.87 (Mar. 4 low). On the other hand, resistance is seen at 6914 and 6974.26 levels.