FTSE 100 at One Month High

FTSE 100 is adding 0.71% at 7,319 to one-month highs as Brexit developments eased and despite UK Services PMI came in at 50.6 in August below expectations of 51.0.

FTSE 100 getting a boost from Prudential +6.26%, Standard Chartered +3.75%, Burberry plc +3.48% and Smith +3.28%. On the other hand Barrat is -2.57% Unilever is –0.73% and Vodafone is -0.66% lower.

On the technical side FTSE 100 trades above the 50 day moving average today as it continues the impressive rebound from four-month lows. The index facing the resistance at 7,361 the 100-day moving average which is critical for the FTSE’s moves in the upcoming trading sessions; a close above could open the way for 7,380 and the 200 day moving average. On the downside immediate support stands at 7,323 today’s low, while a break below will open the way for a test of 7,060 low from August 16th.

European indices also trading higher, with DAX 30 adding 1.27% to 12,062 while the CAC 40 in Paris trading 1.14% higher at 5,528, In Milan the FTSE MIB outperforms adding over 1.60% at 21,742.

In Wall Street, the Dow Jones futures trading 0.91% higher at 26,361, the S&P 500 futures are 0.97% higher at 2,933 while the Nasdaq futures are 1.38% higher at 7,723 signaling a positive start for equities in the other side of the Atlantic.Don’t miss a beat! Follow us on Telegram and Twitter.

Download our latest quarterly market outlook for our longer-term trade ideas.

Do you enjoy reading our updates? Become a member today and access all restricted content. It is free to join.