FTSE 100

Key insight

10,670 holds above the 200-day MA near 10,580 but divergence from DAX/CAC signals sterling-insensitive heavyweights dragging. Oil at $100.9 supports energy names yet fails to lift the index.

Underperforms peers by 1.3% today — DAX +0.5%, CAC +0.6% — while FTSE slides to 10,670, diverging from continental Europe and flagging domestic UK headwinds.

Main risk

BoE policy pivot timing

Delay in BoE rate cuts keeps mortgage pressure on consumers; break below 10,580 (200-day MA) opens 10,400.