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FTSE falls in the red after a positive start

FXStreet (Mumbai) - The UK Equity markets are inching lower after a positive start, tracking similar movements in the other European equity markets.

The Ftse is trading 0.12% lower at 6381s.80, down from the day’s high of 6445.80. The index breadth is positive with an advance decline ratio of 61:39. The metals and mining stocks and the banking stocks are trading lower by 1.21% and 0.80% respectively. The Britain’s biggest retail bank - Lloyds has weakened by 2.46% as it decides to close more than 200 branches that will erase around 9000 jobs. Aggreko, the power generator provider, has lost 2.08% today. Meanwhile, the travel related stocks have gained today with the TUI travel and Intercontinental hotels share prices trading up by 2.41% and 1.53% respectively.

Ftse Technical levels

The index has an immediate support of 6372 (Friday’s low), below which prices can fall to 6370 levels. On the flip side, a breach of the day’s high of 6445 levels shall open doors for a re-test of 6500 levels.

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