FTSE 100 Surges Towards Record HighFTSE 100 Surges Towards Record High
Today saw the release of new data on the UK labour market.
According to official statistics, the number of payrolled employees in the UK fell by 55,000 (0.2%) between March and April 2025. Over the broader period from February to April 2025, the number declined by 78,000 (0.3%).
In response to the drop in employment, the UK’s FTSE 100 index (UK 100 on FXOpen) jumped sharply, rising close to the 8,900 mark — near its all-time high reached in early March this year.
Market participants likely interpreted the weakening labour market as an additional argument in favour of interest rate cuts by the Bank of England. Such a move would be seen as supportive of the economy and a bullish factor for equities.
Technical Analysis of the FTSE 100 (UK 100 on FXOpen)
From a technical perspective:
→ The FTSE 100 continues to trade within an ascending channel (shown in blue);
→ Today’s bullish momentum broke through the resistance line from below — a level that had previously capped the upward movement within the channel.
If the bulls can maintain the price above the 8,860 level, the likelihood increases for a continued uptrend and a potential new all-time high for the FTSE 100 index.
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