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18 Mar 2015
FTSE hits fresh weekly highs, weaker GBP supports
FXStreet (Mumbai) - The British benchmark index, the FTSE keeps gains despite the latest downbeat unemployment and average earnings data. However, the index receives support from the dovish Bank of England (BoE) meeting minutes with a unanimous vote.
Currently, the FTSE 100 trades 0.56% higher at 6876.50 levels, bouncing-off fresh weekly highs previously posted at 6885 levels. The FTSE extends its uptrend for the third straight session as dovish BOE minutes and a weaker pound continue to boost the index higher.
The index is seen trading with a positive market breadth, advance-decline ratio being 79:20. Royal Dutch Shell was the leading stock on the index, gaining 1.41%, followed by SSE PLC which is up 1.13%. While on the losing end, GKN PLC is down -0.84% followed by WM Morrison lower by -0.30%.
FTSE Technical Levels
The index has an immediate resistance at 6911. Meanwhile, support is seen at 6841 levels and 6800 levels.
Currently, the FTSE 100 trades 0.56% higher at 6876.50 levels, bouncing-off fresh weekly highs previously posted at 6885 levels. The FTSE extends its uptrend for the third straight session as dovish BOE minutes and a weaker pound continue to boost the index higher.
The index is seen trading with a positive market breadth, advance-decline ratio being 79:20. Royal Dutch Shell was the leading stock on the index, gaining 1.41%, followed by SSE PLC which is up 1.13%. While on the losing end, GKN PLC is down -0.84% followed by WM Morrison lower by -0.30%.
FTSE Technical Levels
The index has an immediate resistance at 6911. Meanwhile, support is seen at 6841 levels and 6800 levels.