index Update: The FTSE 100 index, a key benchmark index for the London Stock Exchange, was trading rose around 0.57% on 16 April 2026. 

Macro Update: The UK faces a slowdown with growth forecasts cut to 0.8% due to Middle East tensions driving energy prices. Despite a 0.5% February GDP rise, Inflation is climbing toward 3.5%, forcing the Bank of England to hold rates at 3.75%. Globally, growth has dipped as markets brace for Volatility. 

Top Market Movers: Among top gainers on FTSE 100 index, Intertek Group PLC (LSE: ITRK) witnessed a rise of 11.37% followed by Entain PLC (LSE: ENT) witnessed a rise of 7.80%. 

Commodity Update: On Thursday, the U.S. dollar remained close to its weakest level since early March against major currencies as optimism over a possible peace agreement between the United States and Iran improved market sentiment and reduced Demand for safe-haven Assets. Gold rose 0.45% to USD 4,846.15 per ounce, silver climbed 1.09% to USD 80.50, and copper advanced 0.19% to USD 13,312.70. Meanwhile, Brent Crude slipped 0.09% to USD 94.83 per barrel. 

Our Stance: The UK government maintains a "cautiously optimistic" stance, focusing on fiscal stability and energy security to buffer against geopolitical shocks. While prioritising Inflation control, they are leveraging recent GDP growth to support Business Investment and long-term economic resilience. 

FTSE 100: The FTSE 100 is trading near 10,579.71 and remains above both the 21-day SMA near 10,294.99 and the 50-day SMA near 10,414.52, keeping the broader trend constructive. The index has stabilised after the recent pullback and is consolidating below the recent peak area. The 14-day RSI near 59.31 indicates improving momentum without entering overbought territory. Immediate support is placed in the 10,200–10,000 zone, while resistance is seen near 10,800–11,000. 

Source: Charts by REFINITIV

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