• support@capitalstreetfx.in     0124.400.4440

About Us

Capital Street Inter markets Limited is a Global Business Company (GBC1) incorporated and regulated by the Financial Services Commission, Mauritius. It is fully licensed and regulated by the FSC Mauritius, as a Full Services Investment Dealer....

Contact Info

  • 9th Floor, Ebene Tower, 52 Cybercity Ebene, Republic of Mauritius

  • +1-949-335-4314

  • support@capitalstreetfx.in

  • Sunday: Closed

FTSE 100 FALLS AS AIRLINES STOCKS DROP; BOE IN FOCUS - Capital Street FX

    • Home
    • News
    • FTSE 100 FALLS AS AIRLINES STOCKS DROP; BOE IN FOCUS
19-Jun
19:59 IST

FTSE 100 futures are currently trading at 7327-lower by 1.49% as compared to the previous closing. The contract, however, closed in the positive territory in the last trading session.

In the cash markets, the blue-chip share index inched down 0.43% to 7,411.20 at the time of writing. The broad-market index slipped today as traders sold airlines shares after a bearish note from HSBC.

The midcap index FTSE 250 was down 0.25% at the time of writing.

EasyJet lost 2.32% after HSBC downgraded the airlines’ shares. HSBC downgraded the shares following German airline Lufthansa’s profit warning this month.

Stocks of Just Eat plunged 4.23% UBS lowered its rating.

Exporters which get a part of their revenue in U.S. dollars also underperformed today as the pound rose. Imperial Brands and British American Tobacco fell more than 1% at the time of writing.

Blue-chip housebuilders, which are seen as particularly vulnerable to any fallout from Brexit, trading slightly lower on Wednesday. Barratt Developments edged down 0.07%, Persimmon dropped 0.28% and Taylor Wimpey lost 0.03%. Berkeley fell 0.59% after reporting a fall in earnings.

Oil major BP inched down 0.17% as crude prices dropped today.

Mining stocks were also trading in negative territory on Wednesday. Antofagasta lost 0.94%, while Anglo American fell 1.87% at the time of writing.

The Bank of England’s interest rate decision is scheduled to be released on Thursday. No change in policy is expected and Interest rates are expected to hold at 0.75%.

On the data front, U.K. CPI (YoY) for May released earlier today came in at 2.0%. The CPI change was in line with market expectations.

On the technical front, the RSI is currently at 52.3% and suggests that the market can move in the downward direction. The current price is below the MA5. The current price is above the middle line of the Bollinger Bands but is heading downwards.

Overall Bias is negative and short-term trades can be initiated with below mentioned Stop Loss and Profit targets.

 

Trade Suggestion- Limit Sell at 7333. Take Profit at 7300. Stop Loss at 7349

 

Leave a Reply

Your email address will not be published. Required fields are marked *

Hi Please share contact detail & write any comments below, our team will try to call soon.