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Ftse inching lower after a gap-up opening

FXStreet (Mumbai) - The UK equity markets opened higher today due to the “risk-on” rally triggered by the surprise stimulus announcement from the Bank of Japan. However, the prices are declining slowly as witnessed in the other major European equity markets.

The Ftse is trading 0.93% higher at 6524.30, down from a high of 6545.30 at the opening bell. The index breadth is positive with an advance decline ratio of 92:8. Among the stocks, the International Airlines Group (AIG) is the top gainer, up 3.75% after it reported a 30% rise in the third-quarter profits. Other top gainers for the day includes stocks like RBS PLC, Ashtead and Schroeders, which have gained 2% each. On the losing side, Randgold is down by 1.61%, while Fresnillo is trading weak by 1.36%.

No major data are due out of the UK today, which leaves the stocks at the mercy of the global market sentiment.

Ftse Technical levels

The index has an immediate resistance at 6545, above which the prices can rise to 6588 levels. On the other hand, prices can fall to 6463 levels, if the immediate support at 6500 is breached.

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