FTSE flirts with 6800

FXStreet (Mumbai) – The London’s Ftse index currently trades around 6800 levels after having faced rejection at the high of 6833.40. At current levels, the index appears poised to suffer minor weekly losses.

Greek jitters hurt FTSE

The Ftse index, like other European indices, has been driven by news on Greece in the current week, first rallying on hopes a reform deal and then falling after the IMF pulled out of Greek talks. The pullout weighed on the investor sentiment. Nevertheless, certain stocks managed to put on a good show.

Shares of Royal Mail PLC rose 1.8% after J.P. Morgan Cazenove lifted the mail-services company to overweight. BT Group and Antofagasta rose 1.27% and 1.07% respectively. On the other hand, shares in Johnson Matthey fell 3.13%, followed by a 2.25 fall in CRH.

FTSE Technical Levels

The index currently trades at 6802.5, down 0.65%. The immediate support is seen at 6780, under which the index could target 6734.15. On the flip side, a 6870.50 could push the index higher to 6988.30.

The London’s Ftse index currently trades around 6800 levels after having faced rejection at the high of 6833.40. At current levels, the index appears poised to suffer minor weekly losses.

(Market News Provided by FXstreet)