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4 Dec 2014
Ftse trades steady as airline stocks rise
FXStreet (Mumbai) - The London’s Ftse index is trading steady, supported by the gains in the airline and travel stocks after chancellor George Osborne announced yesterday that air-passenger duty for children was being scrapped.
The Ftse traded 0.11% higher at 6724.30 levels at the time of writing. The index breadth is positive with an advance-decline ratio of 68:32. Among stocks, TUI travel is the biggest gainer so far, up by 4.15%, followed by Sage Group, which gained 3.80%. Royal Mail, Unilever, and Easyjet gained in the range of 2.56%-2.4%. Meanwhile, on the minus side are shares in Anglo American, down by 2.46%, followed by Severn Trent, which retreated 1.75%. Other major losers include Rio Tinto, Fresnillo and Randgold.
TUI travel gained after the company an 11% jump in profits, while mentioning long-term economies that shall arise out of tying up with Germany’s TUI AG. Airliner Easyjet gained after the company along with the Irish peer Ryanair reported higher passenger numbers. Moreover, the Ftse Travel and Leisure index gained 0.95%. The index is up almost 20% since the Oct. 16 low on falling oil prices.
Ftse Technical Levels
The index has an immediate resistance located at 6753.50, above which gains could be extended to 6773.13 (Nov 21 high). Meanwhile, support is seen at 6714 and 6641 levels.
The Ftse traded 0.11% higher at 6724.30 levels at the time of writing. The index breadth is positive with an advance-decline ratio of 68:32. Among stocks, TUI travel is the biggest gainer so far, up by 4.15%, followed by Sage Group, which gained 3.80%. Royal Mail, Unilever, and Easyjet gained in the range of 2.56%-2.4%. Meanwhile, on the minus side are shares in Anglo American, down by 2.46%, followed by Severn Trent, which retreated 1.75%. Other major losers include Rio Tinto, Fresnillo and Randgold.
TUI travel gained after the company an 11% jump in profits, while mentioning long-term economies that shall arise out of tying up with Germany’s TUI AG. Airliner Easyjet gained after the company along with the Irish peer Ryanair reported higher passenger numbers. Moreover, the Ftse Travel and Leisure index gained 0.95%. The index is up almost 20% since the Oct. 16 low on falling oil prices.
Ftse Technical Levels
The index has an immediate resistance located at 6753.50, above which gains could be extended to 6773.13 (Nov 21 high). Meanwhile, support is seen at 6714 and 6641 levels.