FTSE 100 FINISH LINE 20/4/26
FTSE 100 FINISH LINE 20/4/26
On Monday, UK equities weakened as renewed concerns about the potential unravelling of the US-Iran ceasefire pressured the major indices, undermining broader risk appetite. Sentiment deteriorated after the US seizure of an Iranian cargo vessel and fresh disruption to shipping through the Strait of Hormuz, developments that drove crude prices more than 5% higher and weighed on cyclical sectors. The FTSE 100 was down close to 1% into the close, led lower by weakness in financials, where Barclays fell 2.3% and HSBC lost 1.2%, leaving the sector down around 1.7% on the day.
In the resources space, precious metals miners underperformed, with Fresnillo and Hochschild both down around 2%, tracking softer gold and silver prices. The sharp increase in oil prices also pressured travel-related stocks. IAG fell 2.8%, while Rolls-Royce lost 2.6%, resulting in a roughly 2% decline in the aerospace and defence segments. On the corporate side, AstraZeneca reported positive late-stage trial results for an experimental treatment designed to reduce flare-ups in chronic obstructive pulmonary disease, although the shares still edged 1% lower on the session.
By contrast, the move in energy markets provided support for the integrated oils, with BP rising 2.8% and Shell gaining 2.3%. Among mid- and small-cap names, Mulberry advanced 7.5% after reporting stronger annual revenue, while Renishaw gained 6.9% after upgrading its full-year profit outlook. M&C Saatchi slipped 0.9%, with investors weighing the potential for the Middle East conflict to disrupt parts of its sports and entertainment exposure. The session reflected a classic oil-shock risk-off pattern in UK equities: banks, travel and cyclicals came under pressure, while energy outperformed. For now, direction is likely to remain closely tied to developments in the Strait of Hormuz and the extent to which higher energy prices begin to feed through to the broader macro outlook.
The UK data calendar is notably busier this week. The labour market report on Tuesday, spanning both February and March, is likely to offer only a limited view of the economy’s initial response to the recent energy shock. By contrast, March inflation data on Wednesday should provide a clearer signal, with a widening in the gap between headline and core CPI expected as higher petrol prices feed through. Attention will then turn to the March public finances release on Thursday, which will provide a provisional outturn for the 2025–26 fiscal year and may be accompanied by a modest technical revision to the DMO remit. The week concludes with March retail sales on Friday
TECHNICAL & TRADE VIEW – FTSE100
Daily VWAP Bearish
Weekly VWAP Bullish
Above 10400 Target 11200
Below 10300 Target 10100
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Patrick has been involved in the financial markets for well over a decade as a self-educated professional trader and money manager. Flitting between the roles of market commentator, analyst and mentor, Patrick has improved the technical skills and psychological stance of literally hundreds of traders – coaching them to become savvy market operators!