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FTSE stays flat

FXStreet (Mumbai) - The UK Equity markets are trading flat after having recovered from an early slump. The Equity markets had opened almost 0.7% lower, tracking the losses in the Asian equities.

The Ftse is trading 0.09% higher at 7524, up 1.2% from the day’s low of 7434. The index has recovered on the back of a strong performance from the Mining, Banking, and Auto stocks. The Oil and Gas sector, which had opened weak tracking losses in Brent Crude, has recovered to trade 0.05% up.

The Equity markets in the UK are down 7% since September 19 on fears of a premature policy tightening in the US and due to the fears about the spread of the Ebola virus.

Ftse Technical levels

The Ftse has an immediate support of 7467, below which prices can re-test today’s low of 7435. The index has a strong resistance of 7640 (Feb 2nd Low), above which prices can test 7750 levels.

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