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On Monday, the FTSE 100 in the UK declined, primarily driven by losses in energy and mining stocks. These losses outweighed gains in other sectors, leading to a dip in the overall market. Investors' attention started to shift towards the upcoming jobs data from the United States scheduled for later in the week. The FTSE 100, being heavily influenced by commodities, experienced a decrease of 0.3%. Movements in energy and mining stocks can have a significant impact on the FTSE 100, reflecting the market's sensitivity to developments in these sectors. The oil and gas industry experienced a 2.0% decline due to the continuous pressure caused by the OPEC+ decision and uncertainty regarding the growth of global fuel demand, leading to a drop in crude oil prices. Additionally, industrial metal miners saw a decrease of 2.5% as copper prices fell from their four-month highs, which was attributed to the strengthening of the dollar. As such Anglo American and Glencore continue to battle it out for the bottom spot on the blue chip index, currently Anglo are sitting at the bottom of the FTSE down 3.5% with Glencore in hot pursuit shedding 2.6% on the session.

On the positive side of the ledger, shares of Rolls-Royce, a British engineering company, experienced a nearly 4% increase, reaching 286.9p. This surge made it the top gainer on the FTSE 100 index. The last time the shares reached this level was in September 2019, making it the highest point in over four years. JPMorgan, a financial institution, raised its target price for Rolls-Royce from 235p to 400p and upgraded its rating from "neutral" to "overweight". JPMorgan believes that a greater proportion of Rolls-Royce's long-term service agreement advances will now translate into profit. Additionally, Goldman Sachs, another financial institution, reinstated its buy rating for Rolls-Royce and set a price target of 370p. According to Goldman Sachs, there is now positive momentum in terms of cash and earnings, mainly driven by favourable factors in Civil Aerospace. Year-to-date, the shares have increased by an impressive 208.32%, taking into account session moves.

FTSE Bias: Bullish Above Bearish below 7400

Below 7350 opens 7210

Primary support at 7200

Primary objective 7550

20 Day VWAP bullish, 5 Day VWAP bullish

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