index Update: The FTSE 100 index, a key benchmark index for the London Stock Exchange, was trading rose around 0.38% on 28 April 2026. 

Macro Update: The UK economy is experiencing fragile growth, with February GDP rising 0.5% despite a downgraded annual outlook. Inflation hit 3.3% in March due to Middle East tensions, forcing the Bank of England to hold rates at 3.75%. While the minimum wage rose to £12.71, broader wage growth is cooling significantly. 

Top Market Movers: Among top gainers on FTSE 100 index, BP PLC (LSE: BP.) witnessed a rise of 3.18 followed by Coca Cola Europacific Partners PLC (LSE: CCEP) witnessed a rise of 2.32%. 

Commodity Update: The Japanese yen held steady in Asian trade on Tuesday ahead of the Bank of Japan policy decision, while focus also remained on the Federal Reserve. Gold declined 0.15% to USD 4,686.40, silver slipped 0.61% to USD 74.56, and copper eased 0.19% to USD 13,191.80. Brent Crude rose 0.40% to USD 108.68 amid tensions around the Strait of Hormuz and comments from Donald Trump on Iran. 

Our Stance: The UK maintains a diplomatic and defensive stance, prioritizing de-escalation in the Middle East to protect national interests. Prime Minister Keir Starmer has pledged the UK will not be drawn into offensive war, focusing instead on reopening the vital Strait of Hormuz. 

FTSE 100: The FTSE 100 index is trading near 10,347.50, up 29.10 points (+0.28%). The index remains slightly below its 50-day SMA around 10,428.70, indicating a mildly softer near-term structure. Price action reflects a consolidation phase following the recent recovery, with some hesitation near higher levels. The 14-day RSI near 45.76 has eased and stays below its signal line, pointing to moderating momentum. Immediate support is seen around 10,200 and 10,000, while resistance is placed at 10,500–10,650. A sustained move above resistance could support further upside, while continued range-bound movement may persist otherwise. 

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