FTSE 100 FINISH LINE 14/4/26
FTSE 100 FINISH LINE 14/4/26
UK stocks made a modest comeback on Tuesday, fuelled by optimism surrounding potential peace talks between the U.S. and Iran, despite the U.S. implementing a blockade on Iranian ports. The blue-chip FTSE 100 index has rotated between marginal positive and negative territory, while the mid-cap FTSE 250 enjoyed a more robust climb of 1.8%. The rise in UK stocks mirrored the positive momentum from European markets, particularly after reports suggested that U.S. and Iranian negotiators might reconvene in Islamabad for talks later this week. In the commodities market, oil prices dipped below $100 per barrel.
Britain's finance minister, Rachel Reeves, is considering tax reforms to attract high earners from the Gulf amid the Iran war's geopolitical instability. During an International Monetary Fund meeting, she will stress that Britain is actively seeking to retain wealthy individuals following tax increases. A consultation on the taxation of limited liability companies will be launched to address concerns from potential new residents. Reeves aims to promote Britain as a "safe-harbour economy," focusing on public financial stability and investment in skills and infrastructure. However, the IMF has downgraded Britain's economic growth forecast for 2026 to 0.8% due to inflationary pressures linked to the Iran conflict.
In the banking sector, heavyweight institutions enjoyed gains of 0.4%, with NatWest Group and Standard Chartered both rising over 1%, while Barclays increased by 0.7%. Precious metal miners also thrived, climbing 2.6% as they tracked the rising prices of gold and silver; Fresnillo surged by 3.5%, and Hochschild Mining followed closely with a 2.6% increase. Industrial metal miners added 1.5% to their value, with Rio Tinto up by 0.7% and Glencore gaining 1.7% after copper prices reached a one-month high. On the other hand, energy stocks faced a slight downturn, dipping by 0.6%, with Shell and BP both falling more than 0.5%. The travel and leisure sector saw a boost of 1.8% as oil prices slipped, with cruise operator Carnival rising by 2.7% and airlines also experiencing upward movement. EasyJet and Wizz Air saw increases of 2.5% and an impressive 7.5%, respectively. In contrast, Imperial Brands, known for Davidoff cigarettes, faced a significant decline of over 7%, nearing a nine-month low as it expressed concerns about uncertainty for the year stemming from conflicts in the Middle East. Meanwhile, Intertek soared by 11.8% to reach a one-year high after announcing it is contemplating a split of its business operations.
TECHNICAL & TRADE VIEW – FTSE100
Daily VWAP Bearish
Weekly VWAP Bullish
Above 10500 Target 10900
Below 10300 Target 10100
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Patrick has been involved in the financial markets for well over a decade as a self-educated professional trader and money manager. Flitting between the roles of market commentator, analyst and mentor, Patrick has improved the technical skills and psychological stance of literally hundreds of traders – coaching them to become savvy market operators!