FTSE drives European indices lower on BOE

FXStreet (Mumbai) – London’s benchmark, the FTSE led the European stocks lower, keeping red following the minutes from the Bank of England’s last monetary policy meeting as MPC sounded more upbeat towards a rate-hike this year-end.

Germany’s DAX 30 index fell -0.33% to 11,565, and the UK FTSE 100 dropped nearly -1% to 6,714. Among the other indices, the French CAC 40 index lost -0.37% to 5,088, and the pan-European Euro Stoxx 50 was slightly lower at 3,643.

The FTSE trades with a negative market breadth with the advance-decline ration being 25:72. easyJet PLC is the top gainer, up 4.14%, followed by Sage Group +1.77%. On the other hand, Ashtead Group is losing -3.64% followed by BHP Billiton, down -3.44%.

FTSE Technical Levels

The index has an immediate resistance at 6813. Meanwhile, support is seen at 6710 levels and 6625 levels.

London’s benchmark, the FTSE led the European stocks lower, keeping red following the minutes from the Bank of England’s last monetary policy meeting as MPC sounded more upbeat towards a rate-hike this year-end.

(Market News Provided by FXstreet)