Back
2 Dec 2014
FTSE gains more than 1%
FXStreet (Mumbai) - The London’s Ftse index advanced more than 1%, led by a corrective rally in the energy shares tracking a recovery in Oil prices.
The Ftse traded 1.14% higher at 6732.50 levels at the time of writing. The index breadth is positive with and advance-decline ratio of 86:14. The Ftse Oil and Gas index advanced 2.43%, followed by Mining index, which gained 2.04%. The Banking index and Life Insurance index gained 1.5% and 1.65% respectively.
Among the Dax index stocks, shares in Friends Life group gained 5.12%, after it confirmed a buyout by Aviva in a GBP 5.6 billion deal. Shares in Tullow Oil and BHP Billiton gained 4.82% and 2.98% respectively. On the minus side were shares in Royal Mail, which fell 2.77%, followed by a 1.58 % decline in the shares of ARM Holdings.
The Ftse Construction and Materials index remained resilient with a 0.83% gain despite the UK construction PMI in November printing at a thirteen-month low of 59.4.
Ftse Technical Levels
The index has an immediate support located at 6712 (5-DMA), under which losses could be extended to 6696 (200-DMA). Meanwhile, resistance is seen at 6750 and 6775 levels.
The Ftse traded 1.14% higher at 6732.50 levels at the time of writing. The index breadth is positive with and advance-decline ratio of 86:14. The Ftse Oil and Gas index advanced 2.43%, followed by Mining index, which gained 2.04%. The Banking index and Life Insurance index gained 1.5% and 1.65% respectively.
Among the Dax index stocks, shares in Friends Life group gained 5.12%, after it confirmed a buyout by Aviva in a GBP 5.6 billion deal. Shares in Tullow Oil and BHP Billiton gained 4.82% and 2.98% respectively. On the minus side were shares in Royal Mail, which fell 2.77%, followed by a 1.58 % decline in the shares of ARM Holdings.
The Ftse Construction and Materials index remained resilient with a 0.83% gain despite the UK construction PMI in November printing at a thirteen-month low of 59.4.
Ftse Technical Levels
The index has an immediate support located at 6712 (5-DMA), under which losses could be extended to 6696 (200-DMA). Meanwhile, resistance is seen at 6750 and 6775 levels.