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UK's main stock indexes rose marginally on Monday following a record-setting rally on Wall Street in the previous session. This helped to offset concerns about a slowing British economy and persistent inflation. The blue-chip FTSE 100 rose by 0.16%. The S&P 500 reached a record high on Wall Street due to optimism about artificial intelligence, leading to an increase in technology stocks globally. In contrast, the UK blue chip index experienced its third consecutive weekly decline, as concerns about potential recession and interest rates were raised by stronger-than-expected inflation readings and a decrease in December retail sales.

On the positive side of the ledger Entain, the owner of Ladbrokes, saw increases in its stock price following a €2.45bn bid by La Francaise des Jeux for Swedish online gaming company Kindred, Entain retains the top spot on the blue chip index with just under 4% rise on the day.

Today, some of the top decliners of 2024 saw a rebound as investors in London turned their attention to positive sentiment on Wall Street rather than concerns about the Chinese economy. Mining stocks listed on the London stock exchange were influenced by the uncertainty in China.

Endeavour Mining's shares declined following its announcement that it met its production guidance for 2023, but incurred higher-than-anticipated costs. Endeavour claimed the top percentage loser for the session shedding 2.3% closely followed by industry peers Gelncore and Rio Tinto both down circa 2% on the day.

FTSE Bias: Bullish Above Bearish below 7500

• Below 7375 opens 7320
• Primary support at 7382
• Primary objective 7827
• 20 Day VWAP bearish 5 Day VWAP bullish

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