Back
16 Mar 2015
FTSE rebounds with thin volumes
FXStreet (Mumbai) - The London’s Ftse advanced towards all-time highs hit earlier this month, after having suffered the biggest weekly drop in 2015.
The financial shares gained marginally, while the Bank stocks gained 0.5%, after having suffered a 5.6% fall since Feb. 23. The conciliatory statements from the new Greek government seems to have encouraged risk appetite. However, traders say the rally was amid thin volumes.
Among stocks, CRH dropped 2.7% on the news that the divisions between Holcim and Lafarge are building, thereby delaying the completion of a merger that has been well received by the markets. The Irish building materials firm has agreed to buy cement assets from Holcim-Lafarge.
FTSE Technical Levels
The index currently trades 0.54% higher at 6776.80. The immediate resistance is seen at 6800, above which gains could be extended to 6864.97 (Jan. 27 high). On the flip side, a break below 6731.99 (Feb. 2 low), under which losses could be extended to 6693.80 (Mar. 11 low).
The financial shares gained marginally, while the Bank stocks gained 0.5%, after having suffered a 5.6% fall since Feb. 23. The conciliatory statements from the new Greek government seems to have encouraged risk appetite. However, traders say the rally was amid thin volumes.
Among stocks, CRH dropped 2.7% on the news that the divisions between Holcim and Lafarge are building, thereby delaying the completion of a merger that has been well received by the markets. The Irish building materials firm has agreed to buy cement assets from Holcim-Lafarge.
FTSE Technical Levels
The index currently trades 0.54% higher at 6776.80. The immediate resistance is seen at 6800, above which gains could be extended to 6864.97 (Jan. 27 high). On the flip side, a break below 6731.99 (Feb. 2 low), under which losses could be extended to 6693.80 (Mar. 11 low).