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FTSE erases gains

FXStreet (Mumbai) - The UK equity markets have erased gains to trade lower at the time of writing, tracking similar moves in the other European equity indices.

The FTSE is trading lower by 0.58% at 6416, after having hit a high of 6481 levels. The index breadth is negative with an advance decline ratio of 14:85. Among the index stocks, Rangold is trading down by 2.92%, while the BT group has lost 2.70%. Moreover, the telecom stocks are down by 2.30%, while the mining stocks have lost 1.6%. On the other hand, the index is being supported by the Chemical and the Electrical equipment stocks which have gained 0.50% each.

Ftse Technical levels

The index has an immediate support at 6400 levels, under which the prices can fall to 6360 levels. On the flip side, resistance is seen at 6412 levels.

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