The FTSE 100 has been corrected against the backdrop of business activity statistics.

The current state of affairs Following the release of negative numbers from the United Kingdom, the FTSE 100 index is currently trading at 7132

Market participants were disappointed by data on the UK economy's most important sectors:

In August, the Manufacturing PMI fell 0.3 points to 60.1, while the Services PMI rose 0.3 points to 63.0. From 59.6 points a month ago, the PMI has dropped to 55.5 points. The Composite PMI declined from 59.2 points to 55.3 points as a result of the negative dynamics.

Furthermore, the slump in the equities market has aided the FTSE 100's correction.

The 5-year UK Treasury bonds were auctioned yesterday at a yield of 0.324 percent, which is lower than the previous auction's yield of 0.334 percent. Whitbread PLC (+4.53 percent), Rolls-Royce Holdings PLC (+3.99 percent), and Evraz PLC (+3.21 percent) are the index's growth leaders.

J Sainsbury PLC (-4.85%), Imperial Brands PLC (-2.18%), and B&M European Value Retail SA are among the leading decliners (-1.79 percent).

Quotes are on the rise all around the world. The Alligator indicator's fast EMAs are still above the signal line, limiting the fluctuation range, and the MACD histogram is approaching the transition level, indicating a weak buy signal.

7130 and 7230 are resistance levels while 7070 and 6970 are two levels of support.

Short trades with a target of 6970 might be opened if the asset continues to decline and the price consolidates below the local support level of 7070 is the stop-loss level.

UK100 FTSE

Aug 25 2021