27 Jan 2015
FTSE declines, Easyjet gains
FXStreet (Mumbai) - The London’s Ftse index retreated today, although the losses were capped by gains in the airliner stocks after Easyjet said it expected to narrow its interim losses.
The index currently trades 0.26% lower at 6834.50 at the time of writing. The index breadth is negative with an advance-decline ratio of 42:58. The shares in Easyjet gained 3.39% after the air carrier posted a 3.8% rise in first-quarter sales to 931 million pounds. IAG, the parent of British Airways and Iberia that is also bidding for control of Ireland’s Aer Lingus, gained 1.73%. Meanwhile, Dixons Carphone is the top loser for the day; down 5.12%, followed by shares in Royal Mail which fell 3.44%.
On the data front, a weaker-than-expected UK Q4 GDP report also weighed on stock prices. The preliminary data showed UK Q4 GDP at 2.7% year-on-year, which is lower than the expected print of 2.8%.
FTSE Technical Levels
The immediate support is seen at 6800, under which the index could test 6773.14 (Nov 21 low). Meanwhile, immediate resistance is seen at 6850 and 6866 levels.
The index currently trades 0.26% lower at 6834.50 at the time of writing. The index breadth is negative with an advance-decline ratio of 42:58. The shares in Easyjet gained 3.39% after the air carrier posted a 3.8% rise in first-quarter sales to 931 million pounds. IAG, the parent of British Airways and Iberia that is also bidding for control of Ireland’s Aer Lingus, gained 1.73%. Meanwhile, Dixons Carphone is the top loser for the day; down 5.12%, followed by shares in Royal Mail which fell 3.44%.
On the data front, a weaker-than-expected UK Q4 GDP report also weighed on stock prices. The preliminary data showed UK Q4 GDP at 2.7% year-on-year, which is lower than the expected print of 2.8%.
FTSE Technical Levels
The immediate support is seen at 6800, under which the index could test 6773.14 (Nov 21 low). Meanwhile, immediate resistance is seen at 6850 and 6866 levels.