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The FTSE 100 faced an early decline on Thursday, primarily driven by Flutter's sombre forecast, causing a dip in its shares. However, as the day progressed, the initial downturn was reversed, and the blue-chip index managed to secure gains just shy of 1%. 

Flutter, the world's largest online betting company, saw its stock tumble by over 11%, marking its biggest daily percentage drop since March 2022. It is currently the top loser on London's FTSE 100 index. Flutter expects its full-year earnings, excluding the nascent U.S. market, to surpass the lower end of its previously forecasted range. The company also mentioned that sports results have been favourable for customers. For the group, Flutter anticipates adjusted core profit, excluding the U.S., to be around £1.44 billion, compared to the previous range of £1.44 billion to £1.6 billion. Meanwhile, it expects U.S. earnings for the fiscal year to be £140 million, surpassing the previous forecast of £90 million to £190 million. Additionally, Flutter reported an 8% year-on-year increase in third-quarter total revenue. As of the last close, the stock has risen by approximately 21% year-to-date.

On the positive side of the ledger, the standout performer on the FTSE 100 was Auto Trader, taking the lead with a positive margin outlook. Shares in Auto Trader Group surged by 5.4%, claiming the top spot on London's FTSE 100. The UK-based online car marketplace expressed optimism, anticipating an increase in annual profit margins compared to the previous year. In their H1 financial results, Auto Trader reported a 10% rise in operating profit, reaching £164.6 million, with a 12% increase in revenue to £280.5 million. This positive news propelled Auto Trader's shares to their highest level since August 2022. If the current trend holds, the stock is on track to log its most significant intra-day gains since March 2022. Leading up to the previous close, the stock had already marked an impressive ~22% rise so far this year. AstraZeneca also had a decent day with a 2.3% gain in its shares following the announcement of a positive outlook fueled by robust demand for its cancer drugs. Despite a decline in COVID-19 vaccine sales, the pharmaceutical giant exceeded analysts' expectations for Q3 profit and revenue. Buoyed by this performance, AstraZeneca revised its annual earnings and sales forecast upwards. The company anticipates a low double-digit to low-teens percentage increase in core earnings per share (EPS) for the full year. In a strategic move, AstraZeneca acquired an exclusive licence for an oral weight-loss drug candidate from China's Eccogene, investing up to $2 billion in its anti-obesity development efforts. Despite the year-to-date decrease of 7.6% in its stock, AstraZeneca's optimistic outlook, strong financials, and strategic acquisitions are positioning the company for a potentially brighter future.

FTSE Bias: Bullish Above Bearish below 7300

• Below 7300 opens 7210
• Primary support at 7200
• Primary objective 7500
• 20 Day VWAP bullish, 5 Day VWAP bullish

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