Index Update: The FTSE 100 index, a key benchmark index for the London stock exchange, was trading declined around 1.38% on 09 march 2026. 

Macro Update: The UK economy is showing modest growth despite a cooling labour market and the Bank of England holding rates at 3.75%. While manufacturing activity has hit a 17-month high, the services sector remains flat and the unemployment rate has climbed to 5.2%. 

Top Market Movers: Among top gainers on FTSE 100 index, Shell PLC (LSE: SHEL) witnessed a rise of 1.82% followed by Admiral Group PLC (LSE: ADM) which gained around 1.75%. 

Commodity Update: The U.S. dollar strengthened on Monday, climbing to a three-month high against the euro as rising geopolitical tensions in the Middle East pushed investors toward safe-haven assets. Oil prices surged, with Brent crude jumping 23.00% to USD 114.36 per barrel, raising concerns over global inflation and higher interest rates. Meanwhile, commodities declined, with gold falling 1.15% to USD 5,100.35, silver dropping 2.24% to USD 82.57, and copper easing 0.84% to USD 12,765.00.    

Our Stance: The UK is navigating a delicate recovery as inflation nears the 2% target. Growth remains sluggish at 1.1%, weighed down by a softening jobs market and high rates. However, resilient manufacturing and stabilizing house prices offer optimism for a steady 2026 rebound. 

FTSE 100: The FTSE 100 Index declined 149.68 points (1.46%) to 10,135.07, reflecting continued pressure after the recent pullback. The index is currently trading below its 21-day moving average near 10,556.46, while still hovering close to the 50-day moving average around 10,321.09, which may act as an important technical reference level in the near term. Momentum has weakened, with the RSI around 36.06, indicating softer market conditions and approaching the lower end of the neutral range. On the downside, the 9,900–10,100 zone may provide initial support. Meanwhile, the 10,500–10,900 range could act as a near-term hurdle if the index attempts a rebound. 

Source: Charts by EODHD/Others

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