Image Source : Krish Capital Pty Ltd

Index Update: The FTSE 100 index, a key benchmark index for the London stock exchange, went up around 0.35% on 29 April 2025.

Macro Update:  HSBC warned that loan demand and credit quality could weaken due to fallout from U.S. President Donald Trump’s global trade war, despite posting a better-than-expected Q1 profit of $9.5 billion and announcing a new $3 billion share buyback. AstraZeneca faces a potential $8 million fine in China over unpaid taxes linked to its breast cancer drug Enhertu, as it tries to restore business momentum. British grocery price inflation rose to 3.8% in April, adding to consumer pressures, though total grocery sales grew 6.5% helped by Easter. British equities closed higher, led by healthcare stocks, while Associated British Foods reported a 10% fall in first-half profit but maintained growth guidance for its Primark unit. Meanwhile, Britain proposed a strategic partnership document with the EU supporting Ukraine and open trade and announced plans to exclude foreign sex offenders from asylum protections to strengthen border security.

Top Market Movers: Among top gainers on FTSE 100 index, Howden Joinery Group PLC (LSE: HWDN) witnessed a rise of 5.55% followed by HSBC Holdings PLC (LSE: HSBA) which gained around 3.01%.

Commodity Update: The dollar struggled to recover Tuesday as uncertainty lingered over progress in Sino-U.S. trade talks, with Treasury Secretary Scott Bessent stating China must initiate negotiations. Gold slipped 0.63% to $3,326.70, silver edged up 0.02% to $33.00, and copper dipped 0.06% to $9,392.05. Brent crude eased 0.04% to $65.63, pressured by a weak demand outlook and Russia's surprise three-day ceasefire with Ukraine, hinting at possible broader peace efforts.

Our Stance: Global markets remained volatile as the S&P 500 closed nearly flat, dragged by megacaps like Nvidia and Amazon, while investors awaited key economic data and earnings reports. A slight uptick in world stocks and the dollar followed signs that the Trump administration may ease auto tariffs, offering some relief after weeks of market turbulence. However, concerns persist, with crude oil prices declining due to lowered demand expectations amid stalling U.S.-China trade talks, and cautious sentiment prevailing across Chinese and Hong Kong equities. Although emerging markets showed modest gains, the broader mood remains fragile as markets balance hopes for tariff flexibility against worries about economic growth and rising U.S. government borrowing needs.

FTSE 100

The FTSE 100 fell 0.10% on Tuesday and is currently trading at 8,408.97, holding above a key horizontal support zone. Although a bearish candlestick pattern has formed, its position above support suggests the potential for a bullish reversal. The 14-period RSI has improved to 52.81, indicating strengthening sentiment. However, the index remains below its 50-period Simple Moving Average, reflecting ongoing downward pressure. A breakout above nearby resistance is required to confirm a short-term bullish shift, as technical indicators continue to show a mixed outlook.​

FTSE 100 Technical Chart, Source - EODHD/Others

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