- Summary:
- The FTSE 100 is on a strong rally ahead of key earnings from Vodafone, Glencore, and GlaxoSmithKline (GSK) earnings set for today.
The FTSE 100 futures are rising ahead of key earnings by Vodafone and GlaxoSmithKline (GSK). The Footsie futures are up by more than 0.45% and trading at $6,500, which is the highest it has been since January 28.
FTSE 100 news: UK stocks ended the day higher yesterday after the mixed earnings by BP and SSE. Today, the index main focus will be on Vodafone, Glencore, and GSK, that will publish their earnings. In general, most analysts expect that the two companies will report relatively strong earnings.
On Thursday and Friday, the FTSE 100 will react to more earnings from companies like Royal Dutch Shell, Unilever, Compass Group, and Beazley. The index is also rising ahead of the important UK services PMI numbers that will come at 09:30 GMT.
The focus will also be silver miners like Polymetal and Fresnillo. Shares of the two companies dropped yesterday after the sharp decline of silver prices. However, silver has jumped back by about 2% today, which means that the stocks will likely rise.
FTSE 100 technical outlook
On the four-hour chart, we see that the FTSE 100 index has bounced back from Monday’s low of 6,313 pounds to the current 6,560. This is a 3.92% increase. The price has also moved above the 25-day weighted moving average (WMA) and is approaching the Ichimoku cloud. Therefore, the index will likely continue rising as bulls target the next resistance at 6,670. However, a drop below 6,438 pounds will invalidate this trend.
Footsie chart
