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FTSE has dealt a significant £27 billion blow to the London stock market, raising concerns among investors and analysts. This development highlights ongoing challenges faced by the UK financial landscape. Regular updates will be provided for those interested in the evolving situation.
The FTSE 100 is approaching a six-week high of 8389, with support at 8290, while the DAX 40 has reached a record high of 20,476, nearing the 20,500 mark. The S&P 500 continues to trade below its recent peak of 6099, with expectations of range trading around 6100.
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The FTSE 100 has reached a six-week high of 8389, nearing the October peak of 8397, with potential to target 8500 if it surpasses recent highs. The DAX 40 is on track for its seventh consecutive gain, finding minor support around 20,264, while the S&P 500 has hit a new record high of 6094 ahead of US employment data, with resistance at 6107 and support at 6026.
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The US stock market, representing over 60% of global capitalisation, shows significant overvaluation, with the Buffett indicator at 208% and a CAPE ratio of 31.12. In contrast, European equities, particularly in the UK and Germany, offer more attractive valuations, while Japan presents mixed signals amid ongoing reforms. Investors are encouraged to diversify geographically to optimise risk-adjusted returns.
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The FTSE 100 is testing a crucial resistance level around 8400 points, following a significant rebound. A confirmed break above this threshold could signal a new bullish phase, potentially targeting 9000 points, while global economic sentiment and geopolitical stability remain critical for its performance. Conversely, a drop below this level may lead to a correction towards 7700 or even 7200 points.
As European equities face turbulence from President-elect Donald Trump’s trade threats, the UK stock market appears relatively insulated. Strategists are recommending UK shares, noting that since the Nov. 5 election, the FTSE 100 and FTSE 250 have only declined 1.5%, compared to a 4.5% drop in the Euro Stoxx 50 index.
The Nikkei 225 ended its three-day winning streak, retreating from a two-week high of 39,719 as it followed US market trends lower. The FTSE 100 fell through key support levels, with the next target at 8,056, while the NASDAQ 100 formed a bearish engulfing pattern, indicating potential short-term downside pressure ahead of the US elections.
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