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On Thursday, UK stocks started the day with gains as a result of positive corporate earnings before stalling out and returning to nearly flat on the day. Investors are also looking forward to hearing from Bank of England policymaker Megan Greene for insight into the future of interest rates. The FTSE 100, which is heavily influenced by resources, saw a 0.4% increase.

On the positive side of the ledger easyJet is leading the FTSE 100 with improved winter performance and a positive outlook. Shares of the UK airline climbed 4.5% to 541.8 pence, making it the top gainer on the FTSE 100 index. The company reduced its winter loss by over 50 million pounds ($62.35 million) due to increased flight demand. easyJet also reported that summer 2024 bookings are showing strong growth in both price and volume compared to the previous year. CEO Johan Lundgren expressed confidence in the operational setup for the upcoming summer season, expecting easyJet to be one of the fastest-growing major airlines in Europe and to attract more customers for easyJet.

AJ Bell, a UK investment platform, has seen a significant increase in its assets under administration, reaching a record high of 80.3 billion pounds. This represents a 5% growth in the last three months and a 17% increase compared to the same period last year. The company's shares have also surged by 6.1% to 313 pence, making it one of the top gainers on the FTSE 250 index. This growth is attributed to the improving sentiment among retail investors, resulting in a new monthly record of 1.4 billion pounds in gross inflows in March. Despite a 13.2% decrease in stock value over the past year, the company's performance indicates a positive turnaround in investor sentiment. This move led to a read through to blue chip component St James’s Place which led to an uptick in financials.

On the negative side of the ledger Rentokil Initial PLC reported a 4.9% increase in revenues in the first quarter, or 3.1% on an organic basis when excluding the impact of acquisitions such as HiCare in India. The group stated that North American growth "stabilised" in the quarter, with organic revenues up 1.5% in the region. In LATAM, the group's second-largest market, organic revenue growth was 4.1%. CEO Andy Ransom described it as "a positive overall start to 2024" and highlighted the performance of the RIGHT WAY 2 plan in stabilising North America. Looking ahead, the company remains confident in achieving its guidance of 2-4% organic revenue growth in the region during the key trading period. Despite this positive performance, the market response was subdued, with shares declining, leaving the company at the bottom of the bluechip index on the day.

FTSE Bias: Bullish Above Bearish below 7900

• Below 7770 opens 7700
• Primary support 7775
• Primary objective 8059
• 5 Day VWAP bearish
• 20 Day VWAP bullish

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