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10 Feb 2015
FTSE declines ahead of the UK Industrial production data
FXStreet (Mumbai) - The London’s Ftse index retreated 0.5% ahead of the data in the UK, which is likely to show industrial production and manufacturing growth slowed down in December.
Oil and Mining stocks decline
The weakness in the international crude prices and metal prices has weighed over the Energy and Mining stocks. The Ftse Oil and Gas index is down 1.53%, while the Mining index is down 0.75%. Among the index stocks, Tullow Oil and Weir Group are down 2.46% and 2.365 respectively. Meanwhile, shares in Marks&Spencer and Mondi are up 2.47% and 1.99% respectively.
The metal stocks may extend slide if the UK Industrial production prints lower than the expectation of 0.5% growth year-on-year in December. The Industrial Metals and Mining index is up 1.93% ahead of the data.
FTSE Technical Levels
The index currently trades 0.58% lower at 6797.30 levels. The immediate resistance is seen at 6806 (10-DMA) and 6825 (5-DMA). Meanwhile, support is seen at 6775 and 6706 levels.
Oil and Mining stocks decline
The weakness in the international crude prices and metal prices has weighed over the Energy and Mining stocks. The Ftse Oil and Gas index is down 1.53%, while the Mining index is down 0.75%. Among the index stocks, Tullow Oil and Weir Group are down 2.46% and 2.365 respectively. Meanwhile, shares in Marks&Spencer and Mondi are up 2.47% and 1.99% respectively.
The metal stocks may extend slide if the UK Industrial production prints lower than the expectation of 0.5% growth year-on-year in December. The Industrial Metals and Mining index is up 1.93% ahead of the data.
FTSE Technical Levels
The index currently trades 0.58% lower at 6797.30 levels. The immediate resistance is seen at 6806 (10-DMA) and 6825 (5-DMA). Meanwhile, support is seen at 6775 and 6706 levels.