FTSE 100 FINISH LINE 21/4/26
FTSE 100 FINISH LINE 21/4/26
The FTSE 100 fell 0.85%, reversing early gains as rising Middle East tensions and firmer oil prices weighed on sentiment at the close. Broader European markets also weakened, with the STOXX 600 down 0.8% and the DAX off 1.2%, as investors grew more cautious around the risk that the US-Iran ceasefire framework could begin to fray, raising the prospect of renewed supply disruption and fresh inflation pressure.
Within the UK market, sector performance was mixed. Higher crude prices and geopolitical uncertainty hit risk appetite, putting pressure on the travel and leisure sector and parts of the broader cyclicals complex. Rolls-Royce was among the notable laggards, down 3.7%. By contrast, energy and banks provided relative support. BP and Shell benefited from the move higher in oil, while HSBC rose 1.0% and Standard Chartered gained 1.2%, helping lift the banks' index 0.6%. The more constructive tone in the financials came alongside a mixed UK labour market report, where pay growth softened only modestly and the unemployment rate fell, though the latter was flattered by a decline in labour force participation.
There was also strength in selected domestic names. British Land advanced 2.4% after raising annual earnings guidance, supported by stronger demand from AI- and tech-linked tenants. THG rose 7.3%, its strongest move of the session, after reporting its best first-quarter revenue outcome since 2021. SSE rebounded 4.2% after last week’s sharp sell-off, helping drive a 1.4% gain in the utilities sector amid continued focus on potential UK electricity market reform.
In resources, Rio Tinto added 0.4% after reporting stronger first-quarter iron ore sales, although management flagged possible second-half supply chain risks linked to the Middle East conflict. Precious metals miners underperformed, with Fresnillo down 0.7% and Hochschild off 1.3%, tracking lower gold and silver prices. Associated British Foods fell 3.1% after announcing plans to separate Primark from its food business.
Despite today’s pullback, the FTSE 100 remains up 4.4% month-to-date, though it continues to lag the broader European rebound, with the STOXX 600 up 7.8% and the DAX up 8.3% over the same period. The day’s price action reinforced a familiar pattern: the FTSE is still finding relative support from energy, banks, and defence, but its upside remains constrained when geopolitical shocks push oil higher and weigh on the more growth-sensitive parts of the market.
TECHNICAL & TRADE VIEW – FTSE100
Daily VWAP Bearish
Weekly VWAP Bullish
Above 10400 Target 11200
Below 10300 Target 10100
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Patrick has been involved in the financial markets for well over a decade as a self-educated professional trader and money manager. Flitting between the roles of market commentator, analyst and mentor, Patrick has improved the technical skills and psychological stance of literally hundreds of traders – coaching them to become savvy market operators!