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FTSE 100 Preview: Rolls-Royce and Shell Shares to Be in Focus Today

FTSE 100
FTSE 100

The FTSE 100 is little changed in the futures market ahead of key earnings from the United States. The Footsie is trading at £6,647, which is in the same range it has been in the past few days. 

FTSE 100 news: Looking at the UK calendar, there will be no major trading updates from FTSE companies today. The only earnings scheduled are by several smaller companies like Saga, DP Eurasia, and Barr. These companies will not have any impact on the index today.

Still, there will be several key companies to watch out for today. First, Royal Dutch Shell share price will be watched after the company acquired the biggest charging station company in the UK. 

The deal to acquire Ubitricity that has more than 2,700 points is part of the company’s transition to clean energy. It already owns New Motion, a European charging point operator. Shell share price has dropped by more than 8% in the past two weeks.

Rolls-Royce share price will also be watched because General Electric, its main rival, will publish its quarterly earnings today. Traders will want to see whether growth has started to returned in the civil aviation industry.

The FTSE 100 will also react to earnings by companies like Johnson & Johnson, Verizon, Lockheed Martin, and Prologis.

FTSE 100 technical outlook

The FTSE 100 index has formed a descending channel that’s shown in green. On the four-hour chart, the index is also slightly above the 23.6% Fibonacci retracement level and below the 25-day and 50-day exponential moving averages. The Relative Strength Index (RSI) has also continued to drop. Therefore, the pair will likely continue falling as bears target the 23.6% retracement at £6,610. The invalidation point for this will be at £6,727.

FTSE index technical chart

FTSE 100