FTSE 100

FTSE eases modestly despite inflation unexpectedly holding steady. USD/JPY drifts lower ahead of the FOMC rate decision.

Last week saw the technology sector take a plunge, before dip buyers stepped in on Friday to save the day, helping to fuel a late rally on Wall Street. In Europe, the major indices also came off their earlier lows to close either flat or in the positive. In the week ahead, the global macro calendar is lighter, with US market closed on Tuesday in observance of Veterans Day.

Investors are also expecting further rate cuts from major central banks, even if there was a bit of hawkish repricing of US interest rates following Powell’s comments at the FOMC presser last week. Still, easing of monetary policy is driving stocks higher, while the recent extension of a trade truce between the US and China means appetite for AI-related stocks remains strong, with earnings also largely being positive this reporting season.

European equities extended their recent rally, with the DAX leading the charge to rise 1% and hit a new record high. Gains were coming largely from defence stocks amid recent government pledges to ramp up military expenditure.

FTSE 100 forecast undermined by drop in oil prices, but bullish sentiment across global stock markets means downside limited. Ceasefire between Iran-Israel boost sentiment towards global stocks. FTSE is trading inside a potential bull flag, awaiting breakout.

Learn when the FTSE 100 was first founded, how it’s grown in relation to the FTSE 250 and which companies have remained listed on the index since its beginning.

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