A key corporate market event was the agreement by Inspired Entertainment Inc., a provider of gaming solutions and technologies, to sell its amusement park business across the UK, valued at £18.6 billion. The buyer is the major international entertainment network Genda Inc. The deal includes rights to more than 11,000 entertainment and gaming machines across 170 amusement parks and is scheduled to close in Q4. Afterward, Inspired Entertainment Inc. will continue to service and provide content on a rental and subscription basis, significantly reducing losses sustained since the COVID-19 pandemic.

Earlier, investors noted that the loss per share of $0.19 was below the forecasted profit of $0.15, while revenue exceeded expectations by 6.4%, underlining strong sales despite profitability issues.

Bond market dynamics showed a fairly predictable reaction to the potential pause in rate cuts: the yield on 10-year bonds adjusted to 4.699% from 4.690%, on 20-year bonds to 5.433% from 5.428%, and on 30-year bonds to 5.571% from 5.569% recorded the previous week.

Top gainers in the index include Anglo American Plc. (+2.91%), JD Sports Fashion Plc. (+2.81%), Weir Group Plc. (+1.71%), and Rio Tinto Plc. (+1.47%).
Top losers include Aviva Plc. (–3.10%), Land Securities Group Plc. (–2.19%), and RELX Plc. (–1.96%).

Support and Resistance Levels

On the daily chart, FTSE 100 quotes continue a local correction, once again approaching the resistance line of the ascending channel with boundaries at 9440.0–9110.0.

Technical indicators remain in a stable buy signal, which is regaining strength after the end of the local correction: the EMA range on the Alligator indicator is gradually widening, while the AO histogram forms new corrective bars above the zero line.

Support levels: 9110.0, 8840.0.
Resistance levels: 9340.0, 9580.0.

Trading Scenarios

If growth continues and the price consolidates above 9340.0, buy positions with a target of 9580.0 and a stop-loss at 9280.0 will be relevant. Implementation period: 7 days or more.

If reversal and decline continue with consolidation below 9110.0, sell positions with a target of 8840.0 and a stop-loss at 9200.0 will be relevant.

Scenario

  • Timeframe: Weekly
  • Recommendation: BUY STOP
  • Entry Point: 9340.0
  • Take Profit: 9580.0
  • Stop Loss: 9280.0
  • Key Levels: 8840.0, 9110.0, 9340.0, 9580.0

Alternative Scenario

  • Recommendation: SELL STOP
  • Entry Point: 9110.0
  • Take Profit: 8840.0
  • Stop Loss: 9200.0
  • Key Levels: 8840.0, 9110.0, 9340.0, 9580.0