ftse 100

FTSE 100 Preview: Standard Life Aberdeen Earnings in Focus

The FTSE 100 index futures are rising ahead of the important earnings by Standard Life Aberdeen, the third-largest UK asset manager. 

FTSE 100 news: The Footsie is rising as the bond market take a breather after rallying yesterday. The 10-year US Treasury yield has dropped from yesterday’s 1.59% to 1.56% as investors wait for the important US inflation numbers. 

If the numbers show higher inflation, bond yields could rise, leading to speculation about high interest rates. In the past, stocks tend to underperform in a high interest rates environment.

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The top FTSE company to watch today will be Standard Life Aberdeen, which will publish its earnings today. It is the third largest asset manager in the UK with more than 511 billion pounds in assets under management. It lags behind Legal & General and Schroders. The former will release its earnings tomorrow while the latter EPS missed while revenue beat last week. 

The Standard Life Aberdeen (SLA) share price has risen by more than 87% from its lowest level last year. 

Standard Life Aberdeen share price chart

Other FTSE 100 companies to watch today will be oil giants BP and Shell as the price of crude oil pulls back. Alos, analysts will watch Marks and Spencer, the retailer that announced plans for global expansion.

FTSE 100 index forecast

The daily chart below shows that the FTSE 100 index has been in a tight range recently. The index has moved slightly above the 61.8% Fibonacci retracement level. It is also slightly above the 25-day and 15-day weighted moving averages. It is also between the first and second support levels of the Andrews Pitchfork tool. 

Moreso, it has formed a triangle pattern. Therefore, in the near term, the index may have a breakout in ether direction. In case it is bullish, the index will likely retest the resistance level at 6,965.

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FTSE index chart

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