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On Monday, the FTSE 100 in the UK had a subdued start to the week as diminishing expectations of interest rate reductions by global central banks had a negative impact on investor sentiment. The main index managed a moderate advance of 0.4%. Investor confidence waned as they reconsidered their predictions of interest rate cuts, with the money markets now anticipating a decrease of around 65 basis points from the Bank of England (BoE) this year.

On the positive side of the ledger AstraZeneca's stock is up by 3.8% to 10,392p in early trading, leading gains on the FTSE 100 index. The company has received approval from the U.S. Food and Drug Administration (FDA) for its combination of the cancer drug Tagrisso with chemotherapy to treat advanced lung cancer. Additionally, AstraZeneca has reported positive results from a late-stage trial showing that Tagrisso significantly improved progression-free survival for patients with unresectable advanced lung cancer. Tagrisso is currently approved for use as a monotherapy in over 100 countries, including the U.S., European Union, China, and Japan. Despite this positive news, the stock has experienced an 11% decrease in the last twelve months.

On the negative side of the ledger, although Citi analysts reiterated their 'buy' rating on Centrica, an energy and services company, on Monday after the release of the group's full-year results , the firm sank to the bottom of the blue chip index as investors expressed concerns regarding debt exposures.. Citi stated that the group has shown significant progress in strengthening its retail and services businesses, and has clear plans for reducing costs by eliminating duplicate IT expenses and expanding in the on-demand market. Citi also mentioned the potential for further share buybacks due to anticipated improvements in Centrica's net cash position, which is expected to exceed £3.0bn by FY24. Additionally, Citi addressed concerns about Centrica's underlying net cash position, suggesting that adjustments for customer money should also consider receivables owed to Centrica, ultimately adding to the cash position.

FTSE Bias: Bullish Above Bearish below 7650

• Below7450 opens 7360
• Primary support 7450
• Primary objective 7825
• 5 Day VWAP bullish
• 20 Day VWAP bullish

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