Index Update: The FTSE 100 index, a key benchmark index for the London stock exchange, was trading declined around 2.75% on 03 march 2026. 

Macro Update: As of March 2026, the UK economy is experiencing modest annual growth of 1.3% with unemployment at 5.2%. While inflation has eased to 3.0%, the Bank of England has held its base rate at 3.75% due to ongoing energy price uncertainty. The FTSE 100 recently reached record highs but remains cautious ahead of today's Spring Statement and the OBR's latest economic forecasts. 

Top Market Movers: Among top gainers on FTSE 100 index, SMITH & NEPHEW PLC (LSE: SN.) witnessed a rise of 3.58% followed by BP PLC (LSE: BP.) which gained around 1.06%. 

Commodity Update: The U.S. dollar climbed to a three-month high in Asian trading on Wednesday as investors moved toward safe-haven assets amid escalating Middle East tensions. The euro weakened while commodities gained on fears of supply disruptions. Gold rose 1.04% to USD 5,177.30, silver jumped 1.60% to USD 84.77, and copper advanced 0.99% to USD 13,072.80. Meanwhile, Brent crude gained 1.00% to USD 82.53 as the U.S.–Israeli conflict with Iran threatened regional energy exports.    

Our Stance: As of March 3, 2026, the UK government is focused on stability and long-term strategy despite global uncertainty. Chancellor Rachel Reeves maintains confidence in the existing economic plan, which prioritises secure public finances and infrastructure investment over short-term policy adjustments. 

FTSE 100: The FTSE 100 is trading 111.88 points lower at 10,798.67, yet remains well above the key 10,500 support zone that underpins the broader structure. The index continues to hold above its 21-day and 50-day Simple Moving Averages, maintaining a constructive bias while leaving scope for short-term consolidation. The RSI at 68.51 signals elevated momentum, though it has moderated from recent highs. Immediate support is placed in the 9,950–10,400 band, while resistance is seen between 11,200–11,500. 

Source: Charts by EODHD/Others 

You Are a Few Steps Away From Gaining Smart Market Insights

Sign up/Login Now and Gain Access to Exciting Opportunities from Investor and Resource Space!