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14 Apr 2015
FTSE wipes out gains post UK CPI
FXStreet (Mumbai) - London’s benchmark index, the FTSE started the day on a weaker note, although gained momentum later, only to trade around a flat line after UK CPI data which showed that UK economy just missed the deflation war.
Currently, the FTSE 100 trades flat at 7064.30 levels, retreating from session highs at 7088.30. The FTSE trades erased early gains and trades muted after consumer prices in the UK stalled in March with a zero reading y/y. Later in the day, the International Monetary Fund (IMF) will publish its global economic outlook which may provide further incentives.
The index is seen trading with a negative market breadth, the advance-decline ratio being 44:53. RBS is the top gainer, up 1% while Royal Dutch Shell is up 0.87%. On the losing end, Pearson PLC is down -1.52% followed by Tesco PLC, losing -0.45%.
FTSE Technical Levels
The index has an immediate resistance at 7088.30. Meanwhile, support is seen at 7015 levels and 6937 levels.
Currently, the FTSE 100 trades flat at 7064.30 levels, retreating from session highs at 7088.30. The FTSE trades erased early gains and trades muted after consumer prices in the UK stalled in March with a zero reading y/y. Later in the day, the International Monetary Fund (IMF) will publish its global economic outlook which may provide further incentives.
The index is seen trading with a negative market breadth, the advance-decline ratio being 44:53. RBS is the top gainer, up 1% while Royal Dutch Shell is up 0.87%. On the losing end, Pearson PLC is down -1.52% followed by Tesco PLC, losing -0.45%.
FTSE Technical Levels
The index has an immediate resistance at 7088.30. Meanwhile, support is seen at 7015 levels and 6937 levels.