We often refer to the ASX’s strong correlation to the FTSE, and today we thought was an opportune time to illustrate the fact – in our opinion both are poised to break out on the upside. The two indices walked an almost perfect path together through 2023 and 2024 but a pullback by the influential banks has weighed on the ASX resulting in the local market still moving in sync with the UK market, just with less gusto.
- We can see both the FTSE and ASX following the EURO STOXX to new highs in the coming weeks/months.
MM is bullish towards both the UK FTSE 100 ASX200 indices
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