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.
FTSE 100 not moving in any direction
The past two sessions have seen little in the way of upward progress, but neither have we witnessed any real downward move on the FTSE.
Some weakness in mining stocks is weighing on the index this morning, but we could see support enter the frame around 7450, should the sell-off gather a little momentum. Below this, we would look towards the post-April rising trendline, which might suggest a drop towards 7400 itself. A revival of bullish sentiment would see a push back to 7500 and then to 7533.