FTSE 100 is adding 1.15% at 7,196 helped by a weak pound which trading below the 1.22 mark. Investors focus is on the latest developments in China-US trade war and Italian politics.
FTSE 100 getting a boost from Smiths Group +4.04%, Melrose +3.26%, Ashtead Group plc +2.77% and Glencore +2.60%. On the other hand, Micro Focus is -23.12% Experian plc is –0.56% and Admiral Group is -0.55% lower.
On the technical side, FTSE 100 makes an attempt to breach the 200 day moving average today after it managed to rebound from four-month lows. The index facing the resistance at 7,193 the 200-day moving average which is critical for the FTSE’s moves in the upcoming trading sessions; a close above could open the way for 7,395 and the 50 day moving average. On the downside, immediate support stands at 7,103 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 1.19% to 11,839 while the CAC 40 in Paris trading 1.42% higher at 5,445.
In Wall Street, the Dow Jones futures trading 1.03% higher at 26,304, the S&P 500 futures are 0.98% higher at 2,918 while the Nasdaq futures are 1.31% higher at 7,698 signalling a positive start for equities in the other side of the Atlantic.
FTSE 100 Higher As Investors Return to Risky Assets