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FTSE gains 0.4%

FXStreet (Mumbai) - The UK Equity index has inched higher today, in line with its European peers, with 84 index stocks advancing while 17 stocks posting losses so far.

The Ftse is trading 0.42% higher at the day’s high of 6293 levels. The index is being pushed higher by the investment service provider Hargreaves Lansdown, which is trading up by 2.8%. Meanwhile, the specialty pharmaceutical company Shire has gained 2.64%, while the TUI Travel is up by 2.43%. Among the losers is the consumer goods company Reckitt Benckiser, which is trading down by 1.81%, followed by Intercontinental hotels and Rolls-Roye, which have lost more than 1% each.

The stock prices have not responded so far to the Public Sector Net Borrowing data, which showed the borrowing in September at 12.6 billion Pounds, higher than the market expectation of 9.2 billion Pounds.

Ftse Technical levels

The index is trading near the critical resistance level of 6294 (Oct 13 high), above which prices can rally to the yesterday’s high of 6318. On the flip side, the index may fall to 6230 levels if the resistance of 6294 is not breached.

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