8 May 2015
FTSE jumps nearly 2% above 7000
FXStreet (Mumbai) - London’s benchmark, the FTSE index jolted higher above 7k mark this morning, as traders cheer the probable victory of the Conservatives in the elections. While gains remain capped ahead of Non-farm payrolls report due later today.
Currently, the FTSE 100 trades higher by 1.80% at 7010.50 levels, retreating from fresh one-week highs reached at 7056.80. The FTSE rallied today, as markets were boosted by early exit polls results indicating Conservatives Party set to win the UK elections by a majority. Meanwhile, markets now await the outcome of the final results as the vote count nears end.
The index is seen trading with a positive market breadth, the advance-decline ratio being 96:5. Babcock International is the top gainer up 7%, followed by Centrica PLC gaining 6.76%. Rio Tinto is the top loser so far, down -0.27% on the day.
FTSE Technical Levels
The index has an immediate resistance at 7100. Meanwhile, support is seen at 6985 levels and 6930 levels.
Currently, the FTSE 100 trades higher by 1.80% at 7010.50 levels, retreating from fresh one-week highs reached at 7056.80. The FTSE rallied today, as markets were boosted by early exit polls results indicating Conservatives Party set to win the UK elections by a majority. Meanwhile, markets now await the outcome of the final results as the vote count nears end.
The index is seen trading with a positive market breadth, the advance-decline ratio being 96:5. Babcock International is the top gainer up 7%, followed by Centrica PLC gaining 6.76%. Rio Tinto is the top loser so far, down -0.27% on the day.
FTSE Technical Levels
The index has an immediate resistance at 7100. Meanwhile, support is seen at 6985 levels and 6930 levels.