This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
FTSE 100 awaits the Santa rally
FTSE futures were relatively little-changed overnight, but with commodity prices weaker since the Federal Reserve decision, we might see a different picture emerge once trading begins in earnest. The ‘Santa rally’ is, historically, meant to begin today, so it will be interesting to see how seasonality plays out versus a potentially softer tone for indices.
So far the price has shown little desire to move below 6930, but a drop through here could test 6895 and then 6863 in the short-term. Upside targets lie around 6982 and then 7014.