UK100 index faces test with UK GDP and Industrial data

• UK100 index stabilized, trading close to key resistance at 50-period SMA
   
• AstraZeneca, HSBC rise 1.5%, boosting UK100 index
   
• Real estate sector drags, housebuilders see declines
   
• UK GDP & industrial data due Friday may drive UK100 moves

The UK100 Index remained relatively stable on Thursday, outperforming declines in broader global markets.

Index heavyweights AstraZeneca and HSBC contributed to the index's resilience, each rising nearly 1.5%.

On the downside, the property sector came under pressure, with housebuilders posting notable falls.

Overall, while the UK100 showed resilience in a challenging global trading environment, sector-specific movements and corporate developments played a crucial role in shaping market sentiment.

Markets now focus on the upcoming UK GDP and Industrial Production data due tomorrow, Friday, March 14th.

Economic forecast

• UK GDP: 0.1% – expected GDP MoM growth; 0.4% – previous reading
   
• UK Industrial production (IP): (-0.1%) – expected IP decline; (+0.5%) – previous reading

Potential scenarios

• Bullish UK100: If GDP and industrial production data fall short of expectations, UK stocks could find support. Additionally, a weaker pound, due to its inverse correlation with the FTSE 100, may provide further backing, potentially pushing UK100 toward key resistance level at 50-period SMA
   
• Bearish UK100: If GDP and industrial production data exceed expectations, UK stocks could face pressure. Additionally, a stronger pound, due to its inverse correlation with the FTSE 100, may weigh on the index, potentially driving UK100 further down towards 100-period SMA