Healthy concern into the weekend

Healthy concern into the weekend

Healthy concern into the weekend

The FTSE100 is flat in its last session of the week, held back by GBP trading up off its lows to hinder those with international exposure and/or dividends. Healthcare is also under pressure ahead of a Trump speech which could see him take another swipe at high drug pricing. Sterling’s climb, however, has a silver lining for Miners, with corresponding USD weakness offering more help to commodities and Miners, and keeping Oil up around 3.5yr highs to buoy Energy names.

Contributors: FTSE flat; positive contributions from Miners (weak USD helping metals), RBS (DoJ cloud removed), HSBC (share-buyback, Asia optimism) and ITV (building on yesterday’s results-inspired gains); negative drag from GSK (Trump speech), RDSb/BP (profit taking, oil off highs), ULVR/PRU/ABF (profit taking, stronger GBP).

Technicals: The FTSE100 sits in a narrow 7690-7715 sideways channel, consolidating close to the ceiling of the longer-term rising recovery channel dating back to late March.”

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Categories: Analysis, News
Tags: FTSE 100

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