London’s FTSE 100 rose as bargain hunters stepped into the market following losses earlier in the week. The blue-chip FTSE 100 was up 0.2% and on course to end the week with modest gains. Glum quarterly earnings reports and weak economic data had pulled the index down about 1.7% in the past three sessions as investors worried about a choppy post-pandemic economic recovery. Bank of England chief Andrew Bailey’s will speak today at the virtual Jackson Hole symposium.
Hurt by a strong Sterling, the British benchmark index has been struggling since Tuesday, with last Friday’s low acting as the new support.
Resistance: R1: 6175.7 R2: 6326 R3: 6514.2
Support S1: 5947.2 S2: 5850.7