Commodity shares drive Euro Stoxx 600 higher

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 9, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Mumbai) - The pan-European Euro Stoxx 600 index advanced on Friday largely due to gains in the commodity shares across European bourses.

    At the time of writing, the index was up 0.74% higher at 364.29 levels. Shares in UK’s Glencore advanced 11.44% after the mining giant announced a cut in the Zinc production. This also resulted in a 10% rise in Zinc prices.

    Other major gainers include names like Petrofac, Vallourec, Tullow Oil, Arcelor Mittal and Greece’s Alpha Bank. Meanwhile, the minus side included Sport Direct, Mediaset, Lufthansa AG.

    Euro Stoxx 600 Technical Levels

    The immediate resistance is seen at 368.29 (Sep 9 high), above which the prices could rise to 371.33 (July 8 low). On the other side, support is seen at 362.58 (Sep 17 high) and 358.89 (previous day’s low).
    For more information, read our latest forex news.

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