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11 Nov 2014
FTSE trades in green, Vodafone gains 5.6%
FXStreet (Mumbai) - The UK equity index gained strength after a better-than-expected results from Vodafone PLC pushed the telecommunication stocks higher. However, the index is retreating as major sector stocks pare gains.
The Ftse is trading 0.11% higher at 6618.30, compared to the previous session’s close of 6611.25. The index breadth is positive with an advance decline ratio of 64:36. Shares in the world's second-biggest mobile operator Vodafone gained 5.69% after the company revised its forecast for core earnings higher. tHe company also reported a sharp rise in its third-quarter revenue. Other top gainers in the index includes stocks like Sainsbury, Land Securities, Easyjet, and Babcock. Meanwhile, Tullow Oil is down 4.27% tracking a slump in the oil prices. Fresnillo, CRH, and Sports Direct lost 2.5% each.
Among the sectors, the Ftse 350 telecom index declined 1.43% despite a strong performance from Vodafone PLC. The Ftse 350 mining index and Oil and Gas index retreated 1.86% and 1.54% respectively.
Ftse Technical Levels
The index has an immediate support at 6608, under which the prices can fall to 6587 levels. Meanwhile, resistance is seen at 6633 and 6658 levels.
The Ftse is trading 0.11% higher at 6618.30, compared to the previous session’s close of 6611.25. The index breadth is positive with an advance decline ratio of 64:36. Shares in the world's second-biggest mobile operator Vodafone gained 5.69% after the company revised its forecast for core earnings higher. tHe company also reported a sharp rise in its third-quarter revenue. Other top gainers in the index includes stocks like Sainsbury, Land Securities, Easyjet, and Babcock. Meanwhile, Tullow Oil is down 4.27% tracking a slump in the oil prices. Fresnillo, CRH, and Sports Direct lost 2.5% each.
Among the sectors, the Ftse 350 telecom index declined 1.43% despite a strong performance from Vodafone PLC. The Ftse 350 mining index and Oil and Gas index retreated 1.86% and 1.54% respectively.
Ftse Technical Levels
The index has an immediate support at 6608, under which the prices can fall to 6587 levels. Meanwhile, resistance is seen at 6633 and 6658 levels.