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28 Jul 2015
FTSE regains 6500 ahead of UK GDP
FXStreet (Mumbai) - London’s benchmark index, the FTSE snapped previous losses and edged higher on Tuesday as the exports stocks enjoyed a weaker euro while expectations of expansion in UK’s growth numbers for the second quarter also lifted the overall sentiment.
Later in the session, UK GDP for Q2 is due and is expected to improve from 0.4% to 0.7%, while the yearly change in the second quarter should decline from 2.9% to 2.6%.
European indices were seen erasing some of the losses suffered on Monday, although volatility should be lower as the Federal Open Market Committee meeting looms and concludes on Wednesday.
The index trades with a positive market breadth with the advance-decline ration being 70:28. Reckitt Benckiser PLC is the top gainer, 1.52%, followed by Centrica PLC up by 0.84%. On the other hand, Pearson PLC is losing -0.52% followed by Merlin Entertainments PLC, down -0.49%.
FTSE Technical Levels
Currently, the FTSE 100 trades nearly 0.33% higher at 6527, swinging back above 6500 levels today. The index has an immediate resistance at 6589.48. Meanwhile, support is seen at 6495.67 levels and 6430 levels.
Later in the session, UK GDP for Q2 is due and is expected to improve from 0.4% to 0.7%, while the yearly change in the second quarter should decline from 2.9% to 2.6%.
European indices were seen erasing some of the losses suffered on Monday, although volatility should be lower as the Federal Open Market Committee meeting looms and concludes on Wednesday.
The index trades with a positive market breadth with the advance-decline ration being 70:28. Reckitt Benckiser PLC is the top gainer, 1.52%, followed by Centrica PLC up by 0.84%. On the other hand, Pearson PLC is losing -0.52% followed by Merlin Entertainments PLC, down -0.49%.
FTSE Technical Levels
Currently, the FTSE 100 trades nearly 0.33% higher at 6527, swinging back above 6500 levels today. The index has an immediate resistance at 6589.48. Meanwhile, support is seen at 6495.67 levels and 6430 levels.