Markets Balance Reform Optimism with Trade Uncertainty:

Image Source : Krish Capital Pty Ltd

Index Update: The FTSE 100 index, a key benchmark index for the London stock exchange, went up around 0.83% on 15 April 2025.  

Macro Update:  Britain’s labour market showed signs of weakening ahead of an employer tax hike, with job vacancies falling below pre-pandemic levels for the first time in nearly four years, though strong wage growth complicates the Bank of England's rate stance amid expected U.S. tariff shocks. Discount retailer B&M forecast annual profits above guidance on new store gains and cost cuts, while the FCA expanded globally with new staff in the U.S. and Asia to support financial sector exports. GSK faced regulatory censure over its marketing of the blood cancer drug Omjjara, and energy grid reforms were announced to tackle connection delays caused by inactive projects. Retail sales rose 1.1% year-on-year in March despite economic worries, aided by resilient consumer spending. Meanwhile, Tullow Oil agreed to sell its Kenyan assets for at least $120 million, and the UK pledged £120 million in aid to Sudan as the humanitarian crisis worsens two years into the ongoing conflict. 

Top Market Movers: Among top gainers on FTSE 100 index, 3i Group PLC (LSE: III) witnessed a rise of 5.12% followed by Segro PLC (LSE: SGRO) which gained around 3.81%. 

Commodity Update: The dollar remained steady on Tuesday but stayed close to recent lows against the euro and yen amid ongoing uncertainty over U.S. tariff changes. Gold rose 0.38% to $3,238.40, while silver slipped 0.12% to $32.20. Copper edged up 0.06% to $9,193.20. Brent crude gained 0.42% to $65.515, supported by possible U.S. tariff exemptions and a rebound in Chinese oil imports ahead of potential Iranian supply cuts. 

Our Stance: Global markets remained volatile as Argentina’s peso plunged 10% to nearly 1,200/USD following the rollback of long-standing currency and capital controls—an essential move tied to its $20 billion IMF loan program. While the currency drop signals short-term instability, investors and economists welcomed the liberalization as a pivotal step toward restoring economic credibility. Meanwhile, U.S. Big Tech and auto stocks rebounded as smartphones and electronics were excluded from tariffs, and President Trump hinted at potential auto-sector exemptions. The U.S. dollar remained subdued, near a three-year low against the euro, as markets continued grappling with erratic U.S. trade policies, leaving sentiment cautious. The Argentine liberalization is a bold structural reset applauded by investors, while erratic U.S. tariff adjustments continue to cloud global risk sentiment and reinforce defensive positioning. 

FTSE 100 

The FTSE 100 is up 0.99% on Tuesday, currently trading at 8,214.61, and forming a bullish candlestick pattern. Despite the gains, the index remains below a key horizontal resistance level, indicating that bearish momentum still lingers. It continues to trade beneath both the 21-period and 50-period Simple Moving Averages, signalling sustained downward pressure. The Relative Strength Index (RSI) stands at 45.90, recovering from bearish territory, which suggests a potential shift toward bullish sentiment. A breakout above resistance could open the door for a short-term rebound, making resistance levels key to watch in the near term. 

Data Source - EODHD/Others