Solid News

FTSE 100, British Stock Market is Under Pressure

12/28/2022 11:37 AM

The leading index of the London Stock Exchange FTSE 100 is showing corrective dynamics and is now at 7495.0.

The UK stock market continues to correct, being under pressure after serious disruptions in the functioning of the national infrastructure caused by protests from public sector employees. Between December 24 and 27, the National Union of Maritime, Rail and Transport Workers (RMT) held mass protests demanding higher wages amid a record rise in the cost of living, while medical workers continue striking. In addition, a large number of trains to London from other cities have been canceled due to transport disruptions, and traditional British shopping and leisure visits have been significantly hampered, which will certainly affect consumer spending.

Another important factor in the current dynamics of the stock market is the changing situation in the bond market. The popular 10-year UK Treasuries added 0.92% to trade at 3.667%, while the long-term 20-year ones added 0.43% to trade at 4.014%. This is the second time in a year that the yield on these bonds has exceeded the 4% threshold, which resulted in a serious decline in the FTSE 100 last time.

The growth leaders in the index are Just Eat Takeaway (+2.64%), DS Smith Plc. (+1.72%), Pershing Square Holdings Ltd. (+1.58%).

Among the leaders of the decline are Hikma Pharmaceuticals Plc. (-1.81%), Pearson Plc. (-0.85%), London Stock Exchange (-0.83%).

On the daily chart of the asset, the index quotes are completing corrective growth, holding above the resistance line of the descending channel.

Technical indicators are in the state of a sell signal, not excluding the second return of the price to the signal line. The EMA fluctuation range on the Alligator indicator remains quite narrow, and the AO oscillator histogram forms descending bars, being in the sell zone.

Support levels: 7410.0, 7260.0. | Resistance levels: 7530.0, 7690.0.

Find Us
Registered Address : Bonovo Road – Fomboni Island of Mohéli – Comoros Union
Sofia, PO Box 1407,14 Flip Kutev Str. Floor 2, Industrial area Hladilnika, Bulgaria
Call Us
+35 924 928 392

Risk Warnings
Solid ECN Securities LLC offers trading on Foreign Exchange (‘Forex’ or ‘FX’) and Contracts for Difference (‘CFDs’), which are complex financial products that are traded on margin. They carry a high level of risk since leverage can work both to your advantage and disadvantage. As a result, these products may not be suitable for all investors, as loss of all invested capital may occur. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved and consider your investment objectives and level of experience. Seek independent advice, if necessary.
Solid ECN Securities LLC does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of a CFD. Solid ECN Securities LLC is not a financial advisor and all services are provided on an execution-only basis. This communication is not an offer or solicitation to enter into a transaction and shall not be construed as such.
This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.
By using you agree to use our cookies to enhance your experience.
Solid ECN Securities LLC is authorized and regulated by the Comoros Union with reference number HY00623411.
Disclaimer 1: The information provided on this site is not intended for residents of any country or jurisdiction where its distribution or use would violate local laws or regulations.
Disclaimer 2: Solid ECN Securities LLC and it affiliates does not provide services to residents of the USA, Japan, Canada, Australia, the Democratic Republic of Korea, European Union, United Kingdom, Iran, Syria, Sudan and Cuba.
Copyright All Right Reserved 2024