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On Monday the trading session in London started on a positive note before once again reversing into the red, the FTSE 100 shedding 0.5% on the day. 

Market movement seems to have been influenced by a report from analysts at Exane, cautioning investors to avoid Europe's fast food delivery companies. Just Eat was downgraded to underperform, and Ocado was labelled as the "least liked" in the sector due to its cash burn. As a result, Ocado's shares have dropped by 4.2% as it led the blue chip index lower. In hot pursuit of the title of biggest loser on the session was Burberry down 4.6%, Burberry's shares declined significantly after the company announced that it did not see the expected increase in global demand during the important Christmas season. The luxury brand has been working to reposition itself in the high-end market as part of a turnaround plan. However, in November, the company had already warned about its annual profit outlook. Goldman Sachs downgraded Burberry's shares from 'buy' to 'neutral' and reduced the price target from 2,345p to 1,663p. The company remains positive about Burberry's long-term growth potential but has revised its stance due to overestimating the pace of like-for-like growth and the necessary investment levels. Goldman's previous positive outlook was based on new product driving growth, improved store densities, and margin expansion.

On the positive side of the ledger Flutter sits at the top of the table today gaining 2.7% as investors seem optimistic ahead of the firm's trading update due on Thursday.

The upcoming week's schedule features the release of UK inflation figures on Wednesday, as well as fourth quarter reports from Morgan Stanley and Goldman Sachs on Tuesday. Additionally, companies such as Currys, Dunelm, and Ocado are expected to share their financial reports in the UK this week.

FTSE Bias: Bullish Above Bearish below 7600

• Below 7550 opens 7480
• Primary support at 7382
• Primary objective 7827
• 20 Day VWAP bearish 5 Day VWAP bearish

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