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FTSE pushed up by Goldman Sachs rating

FXStreet (Mumbai) - The UK equity markets opened higher and extended gains after analysts at Investment bank Goldman Sachs published positive ratings on leading blue chip stocks.

The Ftse is trading 0.72% higher at 6598.10 levels, compared to the yesterday’s close of 655.15 levels. The index breadth is positive with an advance decline ratio of 83:17. Among the stocks, Intertek is up 2.25%, while Royal Mail and Experian gained 2.85% and 3.15% respectively. The stocks gained after receiving a positive rating from Goldman Sachs. Meanwhile, Admiral is down 0.71% after posting a decline in the third-quarter turnover. Other top losers are RSA Insurance group, ARM holdings, and RBS PLC.

In the meantime, the equity markets ignored the disappointing UK trade balance data. U.K. trade deficit rose to a seasonally adjusted GBP 9.82 billion, from GBP 8.95 billion in the preceding month.

Ftse Technical levels

The index has an immediate resistance at 6613, above which prices can rise to 6658 levels. Meanwhile, support is seen at 6563 and 6528 levels.

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