DAILY TRADING STRATEGY

Wednesday, Nov 15

UK OVERVIEW

U.K.’s benchmark stock index closed with a tiny loss on Tuesday, with miners weighing the most after Chinese data suggested economic growth in the world’s second-largest economy is slowing down. The losses, however, were kept in check by shares of Tesco PLC rallying after a planned merger cleared a major hurdle. The FTSE 100 index UKX, - 0.01% fell 0.76 point, or 0.01%, to end at 7,414.42, extending its stumble lower to a fourth straight day. The pound traded at $1.3145, up from $1.3115 late Monday in New York. Against the euro, sterling bought €1.1171, pulling back from €1.1240 late Monday. The overall market was weighed by miners, topping the list of decliners after data showed industrial output and housing sales slowed in China in October. China is a major user of natural resources, such as metals, so any indications of a slowdown in growth tend to weigh on miners. 

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