FTSE 100 Higher As Investors Return to Risky Assets

Summary:
• On the technical side FTSE 100 makes an attempt to breach the 200 day moving average today after it managed to rebound from four month lows. The index

FTSE 100 is adding 1.15% at 7,196 helped by a weak pound which trading below the 1.22 mark.  Investors focus is on the latest developments in China-US trade war and Italian politics.

FTSE 100 getting a boost from Smiths Group +4.04%, Melrose +3.26%, Ashtead Group plc +2.77% and Glencore +2.60%. On the other hand, Micro Focus is -23.12% Experian plc is –0.56% and Admiral Group is -0.55% lower.

On the technical side, FTSE 100 makes an attempt to breach the 200 day moving average today after it managed to rebound from four-month lows. The index facing the resistance at 7,193 the 200-day moving average which is critical for the FTSE’s moves in the upcoming trading sessions; a close above could open the way for 7,395 and the 50 day moving average. On the downside, immediate support stands at 7,103 today’s low, while a break below;.  will open the way for a test of 7,060 low from August 16^th.

European indices also trading higher, with DAX 30 adding 1.19% to 11,839 while the CAC 40 in Paris trading 1.42% higher at 5,445.

In Wall Street, the Dow Jones futures trading 1.03% higher at 26,304, the S&P 500 futures are 0.98% higher at 2,918 while the Nasdaq futures are 1.31% higher at 7,698 signalling a positive start for equities in the other side of the Atlantic.

FTSE 100 Higher As Investors Return to Risky Assets