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The FTSE is hugging the flatline today as investors await an interest rate decision in the US from the Federal Reserve. The UK index opened the day on a mildly positive note reversing some of the losses from Tuesday, however, early gains were reversed as risk sentiment soured. Haleon Plc led the slide as the world's largest consumer health business reported less than stellar first-quarter earnings, which came in below analyst expectation leading to investors shunning the stock as the shares slid -3.75%.

On the positive side of the ledger Coca-Cola HBC AG advanced by 2.9% on the session as investors rewarded the company for maintaining full-year forecasted profits which are expected to come in at the top end of the guided range driven by strong demand for soft drinks and the business's ability to pass on production price increases to consumers.

In a reversal of fortunes Pearson Plc sits at the top of the table today after leading the index to the downside yesterday. Solid Q1 results led to the reversal coupled by clarification from the company regarding its AI adoption strategy, yesterday investors dumped the stock on concerns related to US educational provider Chegg who expressed concerns around AI’s impact of future revenue growth, however, Pearson’s business has a material difference in focus, whereas Chegg and ChatGPT are focused on answers to educational content questions, Pearson’s focus is on developing the question content alongside incorporating AI courses developed to educate customers on the use of chatbots, as investors digested earnings and reports from JPMorgan and Deutsche Bank analysts that confirmed the differences between Pearson and Chegg, investors bid up the shares which are trading up 9%+ heading into the close.

FTSE Bias: Intraday Bullish Above Bearish below 7750

• Primary supportis 7635
• Primary objective 8030
• Below 7750 opens 7706
• 20 Day VWAP bearish, 5 Day VWAP bearish

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(Click on image to enlarge)

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