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28 Jan 2015
FTSE declines after a positive start
FXStreet (Mumbai) - The London’s FTSE index fell into losses after beginning the day on a positive note as the investors stay cautious after a sharp fall in the US equities in the previous session.
Suppliers to the US group Apple gain strength, Antofagasta falls
The US based Apple group posted the biggest quarterly profit in history, boosted by better than expected sales of the new iPhone - up 46% to 74m compared to forecasts of 64.9m. Consequently, the British suppliers to the group inched higher today. Shares in ARM are up 1.6%, while Imagination Technologies is up 2.63%. Meanwhile, shares in Experian gained 3.48%, top gainer so far.
The Ftse Mining index dropped 0.28%, despite of minor gains in the Copper prices. Shares in Antofagasta declined 3.89% after the company said it would report a smaller than expected increase in production.
The Ftse index currently trades 0.32% lower at 6789.30 levels, after having declined from the high of 6862 levels. The index breadth is positive with an advance-decline ratio of 33:67. The stock markets are likely to remain under pressure ahead of the FOMC meet.
FTSE Technical Levels
The immediate support is seen at 6773.14 and 6750 levels. Meanwhile, resistance is seen at 6839.30, above which the index could re-test 6866.80 levels.
Suppliers to the US group Apple gain strength, Antofagasta falls
The US based Apple group posted the biggest quarterly profit in history, boosted by better than expected sales of the new iPhone - up 46% to 74m compared to forecasts of 64.9m. Consequently, the British suppliers to the group inched higher today. Shares in ARM are up 1.6%, while Imagination Technologies is up 2.63%. Meanwhile, shares in Experian gained 3.48%, top gainer so far.
The Ftse Mining index dropped 0.28%, despite of minor gains in the Copper prices. Shares in Antofagasta declined 3.89% after the company said it would report a smaller than expected increase in production.
The Ftse index currently trades 0.32% lower at 6789.30 levels, after having declined from the high of 6862 levels. The index breadth is positive with an advance-decline ratio of 33:67. The stock markets are likely to remain under pressure ahead of the FOMC meet.
FTSE Technical Levels
The immediate support is seen at 6773.14 and 6750 levels. Meanwhile, resistance is seen at 6839.30, above which the index could re-test 6866.80 levels.