Back
5 Jan 2015
FTSE declines on weak Energy shares
FXStreet (Mumbai) - The London’s Ftse index retreated today due to the weakness in the Energy and mining stocks as crude oil prices fell to 5-1/2 year lows.
The Ftse index traded 0.53% lower at 6516.80, compared to the previous session’s close of 6547.80 levels. The index breadth is marginally negative with an advance-decline ratio of 48:55. The Ftse Oil and Gas index is down 1.85%, followed by Mining index, which has weakened 1.55%. The Bank index and Mobile Telecom index have lost 0.75% each.
Among the index stocks, BP is the top loser; down 2.98%, followed by Aggreko; down 2.74%. Petrofac and Weir Group are down 2.76% each, while BG group stock is down 2.25%. Meanwhile, shares in Carnival are the top gainers; up 2.83%, followed by a 2.27% gain in the Ashtead share price. Other major gainers are Fresnillo, Easyjet, and AIG.
The markets found little support from the Markit Construction PMI data for December, which showed the activity expanded at the slowest rate since July 2013.
FTSE Technical Levels
The index has an immediate support located at 6508-6500 levels, under which prices could test 6446 (Oct. 2 low). Meanwhile, resistance is seen at 6523.30Dec. 30 low), above which the index faces stiff resistance around 6560-6568 (5-DMA, 10-DMA & 50-DMA).
The Ftse index traded 0.53% lower at 6516.80, compared to the previous session’s close of 6547.80 levels. The index breadth is marginally negative with an advance-decline ratio of 48:55. The Ftse Oil and Gas index is down 1.85%, followed by Mining index, which has weakened 1.55%. The Bank index and Mobile Telecom index have lost 0.75% each.
Among the index stocks, BP is the top loser; down 2.98%, followed by Aggreko; down 2.74%. Petrofac and Weir Group are down 2.76% each, while BG group stock is down 2.25%. Meanwhile, shares in Carnival are the top gainers; up 2.83%, followed by a 2.27% gain in the Ashtead share price. Other major gainers are Fresnillo, Easyjet, and AIG.
The markets found little support from the Markit Construction PMI data for December, which showed the activity expanded at the slowest rate since July 2013.
FTSE Technical Levels
The index has an immediate support located at 6508-6500 levels, under which prices could test 6446 (Oct. 2 low). Meanwhile, resistance is seen at 6523.30Dec. 30 low), above which the index faces stiff resistance around 6560-6568 (5-DMA, 10-DMA & 50-DMA).