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FTSE falls ahead of the UK Employment report

FXStreet (Mumbai) - The UK equity markets are trading lower today ahead of the UK employment report due at 8:30 GMT. The report comes one day after the release of the CPI data, which showed prices pressures in September weakened to 2011 lows.

The Ftse is trading lower by 1.1% at 6322.50, rapidly moving towards a psychological support of 6300. The index is being driven lower by Pharma and Biotech, which are down by 6.92%. Meanwhile, Oil equipment and Oil and Gas producers are trading down by 1.65% and 1.45% respectively. Lending some support to the index are Technology Hardware stocks which have gained by 1.51%. Interestingly, Travel and Leisure stocks, too, have gained almost 1% despite the threats of Ebola epidemic.

The equity markets may recover losses if the employment report shows a fall in the number of jobless claims during the month of September.

Ftse Technical levels

The Ftse has an immediate support of 6294 (Oct 13 low), below which the index can fall to 6246 levels. On the flip side, the index can rally to 6400 levels if the day’s high of 6376 is taken out.

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