FTSE falls into the red as energy and mining stocks slide

FXStreet (Mumbai) - The London’s Ftse index has been pushed into the red by the sliding energy and mining stocks after Crude as well as Copper prices fell to 2009 levels.

The index now trades 0.07% lower at 6496.50 levels, after having declined from the high of 6544.50 levels earlier today. The Oil Equipment Services and Distribution index is down 4.37%, while Mining index is down 1.94%. The Ftse Oil and Gas shed 1.49%, along with a 1.6% fall in Industrial Metals and Mining index.

Among stocks, Petrofac has extended losses to trade 4.25%, along with Weir Group, which now trades lower by 3.31%. Antofagasta is down 2.67%. On the positive side are shares in GKN; up 2.47%, while Carnival trades 1.96% higher.

FTSE Technical Levels

The index faced rejection near the 100-DMA located at 6544 (day’s high). The immediate support is seen at 6489 (10-DMA), under which losses can be extended to 6453 levels. Meanwhile, resistance is seen at 6503 and 6544 levels.

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