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22:18 IST

FTSE 100 futures are currently trading at 5981.2-lower by 1.17% as compared to the previous closing. The contract closed in the positive territory in the last trading session.

In the cash markets, the FTSE 100 lost 0.77% at the time of writing. The index rose more than 1% earlier in the session. The FTSE 100 however still outperformed its European peers due to gains for battered insurers.

The index is on track to post a second consecutive month of gains as many hard-hit nations relax lockdown measures and continue to pump in stimulus to revive business activity.

Markets have increased expectations that Britain could lower interest rates below zero for the first time amid a rise in jobless claims to 1996-highs.

Index component Imperial Brands dropped more than 6% on plans to lower its dividend by a third and predicting a bigger hit from the crisis in the second half of the year.

Compass Group dropped 3.4% after launching a $2.44 billion stock offer to boost liquidity.

The midcap FTSE 250 was up 0.55% at the time of writing. The domestically focused index jumped to a one-week high earlier in the session as traders counted on a speedy recovery from a virus-fuelled recession.

Housebuilders were trading higher on Tuesday. Taylor Wimpey and Barratt Developments added 0.38% and 1.80% respectively at the time of writing.

Other top losers in the FTSE 100 include Centrica (down 4.84%), Antofagasta (down 2.81%), and Reckitt Benckiser (down 2.58%) at the time of writing.

On the data front, UK Claimant Count Change for April released earlier today came in at 856.5K. Count Change was worse-than-the consensus estimates of 676.5K.

In addition, the Unemployment Rate for March released earlier today came in at 3.9%. The Unemployment Rate was better-than-the the market expectation of 4.4%.

On the technical front, the RSI is currently at 55.38% and suggests that the market can move in the downward direction. The current price is above the MA5. The current price is above the middle line of the Bollinger Bands but is heading downwards.

Overall Bias is Negative and short-term trades can be initiated with below mentioned Stop Loss and Profit targets.


Trade Suggestion- Limit Sell at 5985. Take Profit at 5915. Stop Loss at 6015

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