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The FTSE 100 in Britain started the day with gains on Tuesday, supported by an increase in energy stocks following positive results from industry leader BP. Meanwhile, the prices of industrial metal miners surged due to a weaker dollar and improved prospects in China. The FTSE 100, which represents the top 100 companies on the London Stock Exchange, is set to break a four-session losing streak, rising by 0.72%.

BP leads the blue-chip index in London as its Q4 profit surpasses expectations. BP's shares are up 5% at 477p, making it the top gainer in the blue-chip index. The company's Q4 earnings exceeded forecasts due to strong gas trading, leading to the energy company increasing the pace of its share repurchases. The Q4 underlying replacement cost profit was $2.99 billion, surpassing the forecast of $2.77 billion in a company-provided analyst survey. BP also maintained its dividend at 7.27 cents per share for the quarter and increased the rate of its share buyback program to $1.75 billion over the next three months. Additionally, BP is committed to repurchasing $3.5 billion of shares in the first half of the year. Despite a 1.8% stock loss in 2023, BP's shares are on track for their biggest daily rise in a year if gains hold.

On the negative side of the ledger, Entain experienced a decline in its position after Barclays reduced its rating for the owner of Ladbrokes from ‘overweight’ to ‘equal weight’ and lowered the price target from 1,120p to 1,070p. Barclays expressed concerns that "the recovery is not straightforward". Barclays stated that for the company to perform well, it would need its online sector to return to market growth rates or surpass them, and for its US market share to stabilize and grow. However, Barclays emphasized that these outcomes are not guaranteed.

FTSE Bias: Bullish Above Bearish below 7600

• Below 7580 opens 7510
• Primary support at 7382
• Primary objective 7827
• 5 Day VWAP bearish
• 20 Day VWAP bullish 

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