FTSE 100 FINISH LINE 30/3/26
FTSE 100 FINISH LINE 30/3/26
London's FTSE 100 climbed on Monday, buoyed by gains in mining and energy stocks as commodity prices rose, although market sentiment remained fragile with the Middle East conflict entering its fifth week. The blue-chip index advanced over 2%, with Rio Tinto leading the charge. Shares of the mining giant jumped 3.5% after announcing that three of its four Pilbara iron ore port terminals in Western Australia had resumed operations following disruptions caused by Tropical Cyclone Narelle. Geopolitical tensions in the Middle East showed no signs of easing. The Israeli military reported that Iran launched multiple missile strikes toward Israel, while an attack originating from Yemen marked only the second such incident since the U.S.-Israeli conflict began. Energy stocks also surged, gaining 1.4% to hit an all-time high. The rally was underpinned by persistently high crude oil prices, with Brent crude on track for a record-setting monthly increase.
In an effort to mitigate global economic risks, UK Chancellor Rachel Reeves urged her G7 counterparts to avoid unilateral measures, such as imposing new trade barriers, during the ongoing Iran conflict. She cautioned that such actions could worsen energy insecurity and disrupt global supply chains. Conversely, the travel and leisure sector faced headwinds, with its sub-index declining 1.1%. The sector is set to record double-digit monthly losses as rising fuel costs and disrupted flight routes, stemming from the Iran war, weigh on profitability. On the domestic front, Bank of England data revealed stronger-than-expected mortgage approvals last month, alongside a faster growth rate in consumer credit compared to January. However, these gains may be short-lived as higher borrowing costs loom, exacerbated by the ongoing crisis in the Middle East. Looking ahead, investors are eyeing key economic data due later this week, including the UK's fourth-quarter GDP figures and the U.S. jobs report for March.
TECHNICAL & TRADE VIEW - FTSE100
Daily VWAP Bullish
Weekly VWAP Bearish
Below 10500 Target 9700
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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!