Footsie needs a shot in the arm - Spreadex
Clients are happy to see the FTSE 100 at 7300, but don’t see any reason to push the index to fresh record highs, says Spreadex Financial Analyst Connor Campbell. The index is in a sort of no man’s land of late.
Of critical importance is a Campbell’s point that the inverse relationship between Pound and FTSE 100 has weakened somewhat in the recent times.
Forewarned is forearmed: Footsie may not cheer potential GBP weakness following UK PMI data releases later in the week.
Also discussed is -
Dow outlook: It’s all about Trump’s speech. The index could deflate if Trump keeps mum on the details of the fiscal stimulus plan
ITV: Buying interest seen around the 2 pound mark
Merlin Entertainments: Buying interest seen around 4.9-5.00 Pound mark. Shares have rallied sharply, hence pull back on weak earnings cannot be ruled out
Capita: Buying interest seen around 550 mark. Could fly as sentiment is overtly bearish.
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