Global markets rally on easing U.S.-China trade tensions and strong tech earnings:

Image Source : Krish Capital Pty Ltd

Index Update: The FTSE 100 index, a key benchmark index for the London stock exchange, went up around 0.23% on 28 April 2025.

Macro Update:  British finance minister Rachel Reeves met U.S. Treasury Secretary Scott Bessent to discuss trade ties amid ongoing global concerns over U.S. tariffs, while separately stressing the importance of strengthening business relations with the EU. National Grid filed a three-year rate plan for its New York business, and UK banks urged the scrapping of ring-fencing rules to boost growth. The Bank of England announced a new stress test scenario focusing on trade war risks, Deliveroo suspended its £100 million buyback following a takeover proposal from DoorDash, activist investor Elliott pressed BP for strategic changes, and WPP noted that clients were cautiously assessing tariff impacts before adjusting budgets.

Top Market Movers: Among top gainers on FTSE 100 index, Entain PLC (LSE: ENT) witnessed a rise of 8.91% followed by JD Sports Fashion PLC (LSE: JD.) which gained around 2.52%.

Commodity Update: The dollar opened steadily on Monday as markets braced for a busy week of economic data that could reveal the impact of President Trump’s trade war. Gold slipped 0.30% to $3,293.30, silver dropped 0.95% to $32.69, and copper fell 1.09% to $9,334.10. Brent crude inched up 0.01% to $66.96, though concerns over U.S.-China trade talks and potential OPEC+ supply increases weighed on sentiment..

Our Stance: Global equity markets remained near their highest levels in over three weeks on Monday, supported by hopes that the worst of tariff-related impacts may have passed, although uncertainty over U.S. trade policy under President Trump continued to weigh on sentiment and kept the dollar subdued. European shares opened higher, U.S. futures were mixed, and Asian markets posted fractional gains ahead of a crucial week packed with corporate earnings, U.S. economic data—including PCE inflation, GDP, and payroll numbers—and key elections in Canada and Australia. While bond yields edged slightly higher and the dollar found temporary stability, the broader market remains cautious, with upcoming economic indicators set to test whether the recent equity rebound can be sustained amid ongoing trade uncertainties.

FTSE 100

The FTSE 100 climbed 0.41% on Monday to close at 8,483.83, forming a bullish candlestick pattern and staying above a key horizontal support zone. This suggests a possible return of bullish momentum. However, the index remains below its 50-period Simple Moving Average, reflecting ongoing broader downside pressure. The Relative Strength Index (RSI) has improved to 54.57, moving out of bearish territory and hinting at strengthening sentiment. A breakout above nearby resistance could trigger a short-term rally, but until that happens, technical signals continue to present a mixed outlook.​

FTSE 100 Technical Chart, Source - EODHD/Others