- Summary:
- In this FTSE 100 index preview, we look at the key companies to watch today ahead of the important earnings by Rolls-Royce and WPP Holdings
The FTSE 100 index futures are holding steady ahead of important earnings by Rolls-Royce holdings, WPP, and Morrison Supermarket. It has risen by more than 0.45% in the futures market to 6,745.
News: The biggest catalyst for the FTSE 100 index today is the overall strong performance of global equities after the mild US inflation numbers yesterday. Other global indices like the Hang Seng, Nikkei 225, and Dow Jones have also rallied. The index is also rising ahead of the signing of the $1.9 trillion stimulus bill that was passed yesterday by the House of Representatives.
Today, focus in the FTSE index will be on the earnings by Rolls-Royce. The company is expected to report its worst annual loss on record because of the pandemic. Still, in the past few days, the Rolls-Royce share price has held steady as investors eye the recovery of global travel.
Investors will also focus on the Morrison Supermarket. The company is expected to report relatively mixed earnings because of the lockdowns experienced in the fourth quarter. Another notable firm that will report today is WPP, the biggest advertising agency in the world.
Morrison, WPP, and Rolls-Royce share prices before earnings
FTSE 100 forecast
The four-hour chart shows that the FTSE 100 index has formed an ascending channel. It has also risen in the past three consecutive four hours as bulls attempt to retest the upper side of the channel. This trend is being supported by the 25-period and 15-period moving averages. Therefore, the index will likely continue to rise as bulls target the next resistance level at 6,786. However, a decline below 6,678 will invalidate this thesis.
FTSE index chart
