FTSE 100

Key insight

10,750 round-number support holding on day one of September; break below drags index toward the 200-day MA near 10,500. Oil at $87.3 (+2.5%) is the key stabiliser — FTSE's heavyweight energy sector benefits directly.

Holds 10,757 while European peers sell off harder — DAX -1.0%, CAC -0.5% vs FTSE -0.1% — defensives and energy names cushioning the index as Oil surges +2.5% to $87.3.

Main risk

GBP/USD weakness feeding import costs

GBP/USD at 1.3528 (-0.2%) lifts imported inflation, complicates BoE pivot timing and squeezes domestic consumer-facing stocks.