FTSE 100
The FTSE 100 is rising ahead of key corporate earnings from key companies. The index is also rising after the UK Gilts and US Treasury yields pulled-back in the overnight session. It rose for the second consecutive month in February and is trading at £6,528.
Key FTSE earnings: This week, in addition to the focus on global treasuries, investors will focus on key earnings from UK companies. Some of the FTSE 100 constituents that will publish their earnings are Flutter Entertainment, Entain, Fresnillo, Tylor Wimpey, Persimmon, and Fresnillo. Other key companies are Polymetal, Rentokil, Melrose, and Meggitt.
Among these firms, investors will pay close attention to Persimmon and Tylor Wimpey, which are the biggest housebuilders in the UK. Analysts will be watching at whether the companies will report a strong performance as in the past few quarters. Fresnillo and PolyMetal will also be watched closely because of the recent performance of silver prices.
The daily chart shows that the FTSE 100 index has formed a head and shoulders pattern. It is trading at £6,528, which is slightly below the right shoulder. The index has also moved below the 50-day exponential moving average (EMA). It is slightly above the 100-day EMA. Therefore, the index may break-out lower in March as bears attempt to move below the support at £6,500.
