FTSE suffers moderate losses

FXStreet (Mumbai) – London’s Ftse index suffered moderate losses on Friday on an unexpected drop in consumer morale in the United Kingdom.

A survey from market research company GfK showed optimism about the British economic situation over the next 12 months fell to its lowest level since January, which led the investors to trim their positions ahead of the weekend.

Currently, the Ftse index trades 0.28% lower at 7021.10. The major index gainers include names like Weir Group, Associate Btitish Food., Randgold, Admiral. On the other hand, major losers include shares in Anglo American, Diageo, Sabmiller, Morrison Supermarket.

FTSE Technical Levels

The immediate resistance is located at 7061.66 (May. 22 high), above which the index could target of 7100.00 levels. On the other hand, a break below 6979.32 (Apr. 17 low), under which the index could extend the drop to 6930.28 (May 26 low).

London’s Ftse index suffered moderate losses on Friday on an unexpected drop in consumer morale in the United Kingdom.

(Market News Provided by FXstreet)