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FTSE extends gains

FXStreet (Mumbai) - The London’s Ftse index extended gains today supported by gains in Oil stocks, real estate investment trust British Land and Insurer Prudential.

The Ftse traded 0.46% higher at 6702.50 levels at the time of writing. The index breadth is positive with an advance decline ratio of 82:18. Among the index stocks, Tullow Oil gained 2.99%, followed by Randgold, which is up 2.72%. Other top gainers include Royal Mail, Fresnillo, and Morrison. Meanwhile, on the minus side are shares in Smiths group, ARM Holdings, Reckitt Benckiser, and Easyjet.

Real estate investment trust British Land rose 0.98%, after posting an 11.8% rise in half-year net asset value. Elsewhere, shares in the insurer prudential rose nearly 2%, after the company reported a double-digit rise in profit from new business in the first nine months of 2014.

The index has remained largely unchanged after the official data in the UK showed CPI in October at 1.3%, compared to the previous month’s print of 1.2%.

Ftse Technical Levels

The index has an immediate resistance at 6726, above which it can rise to 6742 levels. Meanwhile, a break below support at 6655, shall open doors for a re-test of 6590 levels.

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