FTSE 100 Higher on Corporate Deal News

Summary:
• FTSE 100 is adding 0.71% at 7,179 helped by a deal between Entertainment One and Hasbro. Investors focus is on Jackson Hole meeting and a speech by Fed’s

FTSE 100 is adding 0.71% at 7,179 helped by a deal between Entertainment One and  Hasbro. Investors focus is on Jackson Hole meeting and a speech by Fed’s chairman Jerome Powell. Wall Street indices ended mixed yesterday while Asian indices finished higher.

FTSE 100 getting a boost from ITV plc +4.71%, TUI AG +2.96%, Burberry Group plc +2.92% and CRH plc +2.77%. On the other hand Marks & Spencer Group plc is -1.30% BAE Systems plc is –0.82% and Evraz plc is -0.78% lower.

On the technical side FTSE 100 consolidates after it managed to rebound from four month lows trading sideways, as the short term outlook has turned neutral. The index facing the resistane at 7,193 the 200 day moving average which is critical for the FTSE’s moves in the upcoming trading sessions. On the downside immediate support stands at 7,128 today’s low, while a break below will open the way for a test of 7,060 low from August 16^th. Long positions will face resistance at 7,377 the 100 day moving average while more offers will emerge at 7,410 the 50 day moving average.

European indices also trading higher, with DAX 30 adding 0.41% to 11,794 while the CAC 40 in Paris trading 0.57% higher at 5,418.

In Wall Street, the Dow Jones futures trading 0.33% higher at 26,312, the S&P 500 futures are 0.37% higher at 2,933 while the Nasdaq futures are 0.50% higher at 7,750 signaling a positive start for equities in the other side of the Atlantic.