FTSE100 Focus: Trade-on or Trade-off?

The FTSE, along with other major indices, is on the back foot into the weekend, with the usual help from positive China trade data (exports and imports stronger than expected), and an easing in European political distractions, being overshadowed by potential for a Trump vs G6 trade war confrontation at the G7 summit in Canada.

FTSE100 Focus: Trade-on or Trade-off?

The FTSE, along with other major indices, is on the back foot into the weekend, with the usual help from positive China trade data (exports and imports stronger than expected), and an easing in European political distractions, being overshadowed by potential for a Trump vs G6 trade war confrontation at the G7 summit in Canada.

Contributors: FTSE100 -50pts, pushed lower the most by Miners (stronger USD, risk off into the weekend, G7 concerns), Banks and Financials (risk-off), Energy (oil off falling highs) and BATS (higher bond yields). Providing some minimal resistance are the likes of ABF (defensive, ex-div recovery), BT (CEO change), ULVR/RB (defensives, weaker GBP), JMAT (ex-div recovery) and CPG (rebound from broker downgrade sell-off).

Technicals: The FTSE100 is off its worst levels, but still trying to overcome yesterday’s downtrend towards late May’s 7590 lows. Bulls need a break above 7670Bears require another break below 7640.

Enter your e-mail address to receive updates straight to your inbox

My Newsletter

You can easily unsubscribe at any time by clicking on the unsubscribe links at the bottom of each of our emails
Categories: Analysis, News
Tags: FTSE 100

About Author