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Hugo in HTO Trading,

UK100: Consolidating on a daily support

European shares trimmed gains to close mixed-to-lower yesterday, as investors reacted to corporate earnings and a state bailout for Portuguese bank Espírito Santo that will break up into a “good and bad” bank segments.

Yesterday the UK construction sector beat expectations and saw activity in the housing sector reach its highest level since 2003. The sector recorded a reading of 62.4, beating the expectations of 62 on PMI Construction in July.

Expecting downward move to 6,574.5 on a break of below previous day low at 6,617 (scenario 1) or a break above previous day high at 6,667 could push the UK100 up to 6,718.5 (scenario 2).

UK100 is a CFD written over FTSE100 futures.