FTSE 100 Stabilises As Commodities Rise And Macro Risks Persist

Index Update: The FTSE 100 index, a key benchmark index for the London stock exchange, was trading rose around 0.57% on 30 March 2026. 

Macro Update: The global economy faces a fragile recovery with 2026 growth projected at 3.3%. While inflation is gradually easing, growth remains uneven due to geopolitical conflicts, structural slowdowns in China, and high interest rates. Emerging markets like India lead expansion, while advanced economies grapple with fiscal pressures and shifting trade policies. 

Top Market Movers: Among top gainers on FTSE 100 index, Rio Tinto PLC  (LSE: RIO) witnessed a rise of 3.59% followed by Burberry Group PLC (LSE: BRBY) witnessed a rise of 2.24%. 

Commodity Update: The U.S. dollar remained firm, heading for its strongest monthly gain since July amid escalating Middle East tensions and yen weakness beyond the 160 level. Safe-haven demand supported metals, with Gold rose 0.26% to USD 4,536.15, silver gained 0.60% to USD 70.215, and copper increased 0.57% to USD 12,209.00. Energy markets strengthened as Brent crude Up 1.95% to USD 107.37, driven by geopolitical risks and supply disruption concerns. 

Our Stance: The UK faces a sharp growth downgrade to 0.7%, hitting harder than peers due to energy vulnerability from global conflicts. With inflation sticky at 3-4% and interest rates held at 3.75%, high debt-servicing costs severely limit fiscal manoeuvrability. 

FTSE 100: The FTSE 100 Index advanced modestly, adding around 59.43 points to close near 10,026.78, forming a mild bullish candlestick that suggests some recovery in buying interest. However, the broader technical structure remains under pressure, as the index continues to trade below both its 20-period and 50-period Simple Moving Averages, which are acting as key dynamic resistance levels and capping upside momentum. The RSI near 41 indicates subdued momentum, reflecting a lack of strong conviction from buyers despite the recent uptick. On the downside, 9,900–10,000 emerges as an important support zone, and holding above this range will be critical to maintain near-term stability. A sustained move above the 10,200–10,350 resistance band would be required to signal stronger bullish confirmation, potentially encouraging fresh participation and improving overall sentiment in the sessions ahead. 

Source: Charts by EODHD/Others