Decades ago, London used to be the financial center of the world. Although that’s not the case
anymore, the London Stock Exchange is an integral and important part of the global corporate
landscape, and it has its index – FTSE100 (or, UK100 as it is denoted in FBS Trader).
What is it?
FTSE100, or Footsie, is the London Stock Exchange index similar to Nasdaq, S&P 500, Nikkei,
and others. The public companies of the highest capitalization listed on the London Stock
Exchange are the constituent elements of this index.
What makes it different?
Over the last three decades, the area above 7000 has proved to be the zone of high resistance for
FTSE100. Only once it went beyond reaching the ranges of 7500 and consequently bounced
downwards. Currently, as it trades around 6900, it is approaching that resistance area again.
From this perspective, FTSE100 is going through a historic period that may see it finally break
the previously impenetrable resistance area and eventually make a new all-time high above 7500
– if there are no major bumps on the road of the British recovery.
Where to find it
In Metatrader, go to the CFD Futures section and choose UK100/FTSE 100 Index.
In FBS Trader, open the Indices tab and choose UK100/FTSE 100.
How to trade it
A trader would need to have a special interest in the British corporate environment to understand
what moves this index. To a certain extent, it resembles the behavior of the S&P 500 and
European indices (also available in FBS Trader) because the UK economy is tightly connected to
the US and Europe and is subject to similar impact factors. At the same time, it has distinctive
features and the index chart will show. Practically, it is not difficult to make a fundamental
analysis of the British market sentiment as most media channels pay a lot of attention to the UKat any time.