FTSE 100

Key insight

10,750 resistance blocks a clean breakout — FTSE needs a close above the 2026 swing high near 10,800 to shift momentum; below 10,650 the 50-day MA becomes a test.

Holds 10,738 but trails DAX (+0.7%) and lags S&P 500 at record 7,677 — FTSE's energy/commodity tilt softens as Oil dips to $100.8, capping upside despite GBP/USD flat at 1.3307.

Main risk

Oil price reversal from $100

Oil at $100.8 already -0.8% today — a break below $98 drags BP/Shell and compresses FTSE's heavy energy weighting materially.