UK stocks : FTSE 100 ends up 0.3 pct
We were looking at some short positions in Vodafone, very short-term, said Jonathan Roy, sales trader at Prime Markets.
On the flip side, ITV was the biggest gainer on the FTSE 100, adding 9 percent after the broadcaster said its net advertising revenue for the year will outperform the wider television market.
You had the classic contrast: ITV, which we recommended as a 'buy' last night, looks very impressive and at the same time you've got Vodafone breaking down, and that's in a macro environment which is still very clouded and very troubled, so stock-specific risk is very high. said Tim Parker, technical analyst at Westhouse Securities.
We have lost momentum in the last couple of months (on the FTSE 100). We are in a sideways trading range of 5,950 to 5,700 points ... So it's watch and wait at the moment. If we get a breach of 5,700, then you could argue that there is a series of lower highs and lower lows that could be the beginning of a new downtrend and 5,500 would be the target support. ($1=0.6302 British pounds)
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