FTSE gains as Energy and Mining stocks see a relief rally

FXStreet (Mumbai) - The London’s Ftse index advanced today, supported by a relief rally in the Oil stocks and Mining stocks, which saw heavy selling yesterday due to sharp fall in commodity prices.

The index currently trades 1.15% higher at 6461.80 levels, compared to the previous session’s close at 6388.46 levels. The index breadth is positive with an advance-decline ratio of 95:8. The Ftse Oil and Gas index gained 1.98%, while the Mining index is up 1.09%.

Among stocks, Experian is up 3.43%, after the company said it is confident of returning to a position of revenue growth as it approaches the end of its financial year. The company reported revenue from continuing activities down 1%. Other gainers include BHP Billiton, Whitbread, Sports Direct, and BG Group.

Meanwhile, the losing side includes, shares in Imperial Tobacco; down 2.75%, followed by a 1.26% fall in Antofagasta. Other major losers are Fresnillo, Next, and Compass.

FTSE Technical Levels

The immediate resistance is seen at 6482.80, above which gains could be extended to 6557.50 levels. Meanwhile, support is seen at 6419 and 6352 levels.