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FTSE 100 Tilts Higher Ahead of Entain, Flutter, Abrdn, Deliveroo Earnings

The FTSE 100 index tilted lower as in the futures market as investors wait for earnings galore from some of the biggest constituent companies. The index is trading at £7,115, which was slightly below last week’s high of £7,150. 

Key FTSE shares to watch

The FTSE 100 rose slightly in the past few weeks as the number of constituent companies published their quarterly and half-year results. Among the firms that published impressive results were Royal Dutch Shell, BP, IAG, and Rolls-Royce Holdings. 

This week, the index will react to additional earnings from some of the important firms in the index. Some of those firms are Abrdn (formerly known as Standard Life Aberdeen), Flutter Entertainment, Entain, Aviva, and Admiral. Other non-FTSE companies that will be watched closely are Tui and Deliveroo. 

In general, bookmakers like Entain and Flutter are expected to announce strong results, helped by the reopening of the economy and the return of sports. Other betting and gambling companies like DraftKings have recently announced strong results. The Entain and Flutter share prices jumped sharply on Friday.

Meanwhile, Abrdn will be watched closely as the firm transitions to become a leading fund manager. Investors have recently raised questions about the company’s integration of Standard Life and Aberdeen assets. Later on, Intercontinental Hotels will likely announce strong results given that the hospitality industry made some modest recovery in the first half of the year.

Meanwhile, FTSE index retailers will be watched after reports emerged that Morrison’s had received an improved bidder from Fortress. There are talks that Amazon was also considering placing a bid on the company.

FTSE 100 forecast

The four-hour chart shows that the FTSE index has been in a tight range recently. It is trading at £7,115, which is slightly below the key resistance at £7,160. At the same time, the index has formed an ascending channel that is shown in red. The price is currently between this channel. It is being supported by the 25-day and 50-day moving averages. 

Therefore, the index will likely keep rising as bulls target the next resistance at £7,200. This prediction will be invalidated when the price drops below the support at £7,000.

FTSE 100