Index Update: The FTSE 100 index, a key benchmark index for the London stock exchange, was trading declined around 0.99% on 26 March 2026. 

Macro Update: The UK economy faces a "low-growth, high-risk" phase in March 2026 as Middle East tensions drive inflation toward 3.5%. With GDP stalled and retail sales plunging at pandemic-era speeds, the Bank of England has held interest rates at 3.75%. While manufacturing shows slight resilience, rising unemployment at 5.2% signals deepening pressure. 

Top Market Movers: Among top gainers on FTSE 100 index, Next PLC (LSE: NXT) witnessed a rise of 5.32% followed by BP PLC (LSE: BP.) witnessed a rise of 1.32%. 

Commodity Update: The U.S. dollar held firm in early Asian trading on Thursday as investors awaited clarity on potential de-escalation in the U.S.-Israel-Iran tensions and adjusted expectations around the Federal Reserve’s next policy move. Gold declined 0.86% to USD 4,546.40, silver dropped 1.34% to USD 71.67, and copper slipped 1.19% to USD 12,202.40. Meanwhile, Brent crude rose 0.80% to USD 103.02 amid ongoing geopolitical uncertainty. 

Our Stance: The UK prioritizes stability amid Middle East volatility. The Bank of England maintains a cautious "wait and see" approach with interest rates at 3.75%, balancing stagnant growth against rising energy costs. Government focus remains on fiscal discipline, aiming to manage high debt while supporting a softening labour market. 

FTSE 100: The FTSE 100 Index is currently trading near 10,016.12, declining around 0.90%, but continues to remain below its 21-day moving average near 10,326.68 and 50-day moving average near 10,355.12, indicating a weak near-term structure. The price action reflects a sharp pullback after a prior uptrend, followed by a mild rebound from lower levels, suggesting early signs of stabilisation. Momentum remains subdued, with the RSI near 39.66, indicating recovery from weaker levels but still below neutral. On the downside, 9,900–9,800 may act as a near-term base zone, while 10,200–10,350 is likely to act as a key hurdle, potentially capping any recovery. 

Source: Charts by EODHD/Others

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