FTSE 100

Key insight

10,476 sits below the 50-day MA at 10,520 and the key round number 10,500 — both now resistance. Holding above 10,400 (100-day MA) is the single level that keeps the medium-term uptrend intact.

Holds -0.6% at 10,476 with DAX -1.3% and CAC -1.2% signalling broad European risk-off; FTSE outperforms peers but 50-day MA at 10,520 now acts as resistance.

Main risk

GBP/USD at 1.3207 & Oil spike to $89.5

Oil +0.6% to $89.5 lifts energy stocks but a stronger dollar (GBP/USD -0.5%) squeezes FTSE exporters and multinationals, capping upside.