UK FTSE All Share (.FTAS) gains as firms respond to Brexit white paper and Trump arrives in UK
The FTSE 100 closed up 59.37 points at 7651.33 and the pound was at $1.32 against the dollar.
The Government has finally published its Brexit white paper, prompting one company boss to say the blueprint could ‘accelerate’ the exit of businesses out of the UK.
In what has been a hectic day, US president Donald Trump has arrived in the UK, touching down at Stansted Airport earlier this afternoon.
This morning, sofa retailer DFS warned its full-year profits will fall after recent hot weather caused order numbers to dry up.
Joshua Mahony, market analyst at IG, said: ‘With Donald Trump heading to London, Theresa May is likely to shift the rhetoric onto a potentially beneficial future trading relationship with the US.
‘With no major trade deficit to complain about, Trump is likely to be more open with the future relationship between the US and UK, following a tumultuous few days of meetings with NATO.
‘The Brexit blueprint has been drawing a range of opinions from different ends of the economy, with plans for a frictionless trade in goods meaning that manufacturing appears to be the big winner in these plans.
Overall, the bias in prices is: Sideways.
The projected upper bound is: 4,300.08.
The projected lower bound is: 4,117.03.
The projected closing price is: 4,208.56.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 29 white candles and 21 black candles for a net of 8 white candles.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 53.1698. This is not an overbought or oversold reading. The last signal was a sell 1 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 51.26. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 35 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 51. This is not a topping or bottoming area. The last signal was a sell 1 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 3 period(s) ago.
Rex Takasugi – TD Profile
FTSE-A ALL SHARE closed up 30.900 at 4,207.120. Volume was 15% below average (neutral) and Bollinger Bands were 50% narrower than normal.
Open High Low Close Volume___
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 4,190.90 4,218.75 4,105.88
Volatility: 13 14 13
Volume: 117,417,976 139,514,752 130,724,848
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
FTSE-A ALL SHARE is currently 2.5% above its 200-period moving average and is in an downward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of .FTAS at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on .FTAS and have had this outlook for the last 27 periods.