FTSE 100 capable of rallying higher in weekend markets
The blue-chip index has found support at the end of another highly volatile trading week, with investors able to continue trading the FTSE 100 over the weekend with IG.
UK equities rebounded on Friday, with the stock market responding positively to the Bank of England lowering interest rates and the government taking emergency action to limit the economic impact of Covid-19.
The FTSE 100 rallied as much as 4% in early morning trading on Friday, with the blue-chip index closing marginally higher at close.
Maximise your opportunities to profit by trading at the weekend with IG. We offer 24/7 trading on GBP/USD, global indices and a range of major cryptocurrencies.
FTSE 100 finds support 5000 levels
As we noted yesterday, dips below 5000 in the FTSE 100 continued to find buyers, providing a potential base, according to Chris Beauchamp, chief market analyst at IG.
‘With the rally from Thursday’s low continuing, the price has moved above 5340,’ he said.
‘If the next pullback can avoid moving back below 5000 and establish a higher low, then a more bullish view begins to emerge in the short term. Further gains head towards 5720, the highs from the end of last week,’ he added.
What is weekend trading?
Weekend trading gives you access to forex, indices and cryptocurrency markets on a Saturday and Sunday. So, if news breaks about the ongoing coronavirus pandemic – or central bank measures to ease the strain on global markets are announced – you no longer need to wait until markets open on Monday to trade.
The weekend prices for indices and forex are quoted separately to their weekday counterparts, based on our view of the prospects for that market given client business and news flow. As a result, you can use these markets to hedge against risk on your weekday positions. Weekend indices and forex positions will rollover into regular weekday positions if they are kept open after the Sunday close, with any stops or limits remaining in place.
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. See full non-independent research disclaimer and quarterly summary.
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