NewTradingView.com – Investing and Stock News
Investing and Stock News
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
Investing

FTSE 100 hits resistance ahead of BT, Lloyds, GSK, BAT, Shell earnings

by July 26, 2022
written by July 26, 2022

The FTSE 100 index made a bullish break-out on Tuesday as investors reflected on the ongoing earnings season. The index, which is made up of the top blue-chip British companies, rose to a high of €7,356, which was the highest level since June 10th of this year. 

UK stocks rally

The FTSE 100 index rose sharply after the relatively strong results by Unilever, the giant Fast Moving Consumer Goods (FCMG) company in the world. 

The company said that it was still hiking prices as inflation continue rising. The firm raised prices by about 11% as the cost of doing business surged internationally. Its results said that its underlying sales rose by 8.1% in the second quarter. Its stock rose by over 3% and hit the highest level since May. 

The Rolls-Royce share price rose sharply as investors reflected on the new CEO who will replace Warren East. The industrial conglomerate will now be led by Tufan Erginbilgic, an executive who spent over 20 years at BP. He stepped down from the company in 2020. Analysts will be focused on his strategy to turn around the company. 

The FTSE 100 index will next react to some other leading UK companies that are scheduled for this week. Some of the firms that will publish their results are Reckitt Benckiser, GSK, Haleon, Lloyds Bank, and British American Tobacco. Barclays will also publish its results this week. 

Analysts expect that companies like Reckitt Benckiser and BAT will report higher costs and increased prices. On the other hand, banks like BT group, Barclays and Lloyds will have mixed results as higher rates are expected to boost their interest earnings. 

The FTSE 100 index will also react to the upcoming big-tech earnings in Wall Street. Some of the most notable earnings to watch will be Google, Apple, and Microsoft. It will also react to the latest interest rate decision by the Federal Reserve. 

FTSE 100 forecast

The four-hour chart shows that the FTSE 100 index has been in a strong bullish trend in the past few days. It is now trading at £7,357, which is an important resistance level since it struggled to move above since June. 

The stock moved above the 25-day and 50-day moving averages while the Relative Strength Index (RSI) has continued soaring. It is also above the dots of the parabolic SAR indicator.

The index also formed an inverted head and shoulders pattern. Therefore, the index will likely keep rising as bulls target the next key resistance at £7,500

The post FTSE 100 hits resistance ahead of BT, Lloyds, GSK, BAT, Shell earnings appeared first on Invezz.

0 comment
0
FacebookTwitterPinterestEmail

previous post
DAX index recovery finds strong headwinds. Is it a good buy?
next post
Fairlead Strategies’ Katie Stockton explains Bitcoin’s short term price outlook

You may also like

Employment cost index undershoots expectations; Labour costs likely...

January 31, 2023

Key wage inflation measure eases in Q4: don’t...

January 31, 2023

Weekly markets TL;DR: Massive week ahead for stocks,...

January 31, 2023

Scottish Mortgage Trust share price headwinds put recovery...

January 31, 2023

IMF projects global growth at 2.9%; Disinflation to...

January 31, 2023

Chinese PMIs spark to life after covid restrictions...

January 31, 2023

Should you buy Apple shares ahead of its...

January 30, 2023

Mercedes-Benz just beat Elon Musk’s Tesla in its...

January 30, 2023

Amid recessionary fears, Texas manufacturing disappoints for the...

January 30, 2023

Goldman Sachs reveals one of the best-positioned retail...

January 30, 2023
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Popular Posts

  • 1

    My Trigger to Enter $VAPR

  • 2

    Scaling Up Tips From A 24-Year Old Millionaire Trader {VIDEO}

  • 3

    Multi-Millionaire Trader Explains Why You Should Start Trading With A Small Account {VIDEO}

  • 4

    Pay Attention to These Stocks

  • 5

    New ‘Hunger Winter’ Looms as Europe Prepares to Shiver

Recent Posts

  • Employment cost index undershoots expectations; Labour costs likely peaked

    January 31, 2023
  • Key wage inflation measure eases in Q4: don’t be ‘too bullish’ on stocks

    January 31, 2023
  • China: House Divided

    January 31, 2023
  • Markets Aid Rhino Survival

    January 31, 2023
  • Weekly markets TL;DR: Massive week ahead for stocks, crypto and forex

    January 31, 2023

Categories

  • Economy (600)
  • Editor's Pick (232)
  • Investing (1,586)
  • Stock (9)
  • About Us
  • Email Whitelisting
  • Terms and Conditions
  • Privacy Policy
  • Contacts

Disclaimer: NewTradingView.com, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


Copyright © 2023 NewTradingView.com All Rights Reserved.


Back To Top
NewTradingView.com – Investing and Stock News
  • Investing
  • Stock
  • Economy
  • Editor’s Pick